Insurance Actuarial Analyst 3
About The Position
The Ohio Department of Insurance seeks an Insurance Actuarial Analyst 3 to review complex Property and Casualty Insurance rate filings. The analyst evaluates rate structures for reasonableness and determines whether rates are adequate, not excessive, and not unfairly discriminatory under sound actuarial principles, while ensuring compliance with applicable state and federal laws and policies. The role includes communicating rate compliance issues to insurance companies, providing information to filers, approving rates for use in Ohio, researching compliance requirements, and creating and maintaining compliance review tools and data analyses. The analyst also provides direction, training, and peer reviews for work completed by lower-level insurance actuarial analysts. The position is with the Ohio Department of Insurance, whose mission is to protect consumers through education and fair but vigilant regulation while promoting a stable and competitive insurance environment in Ohio. It is a permanent, full-time classified position located at 50 West Town Street, Suite 300, Columbus, Ohio. The schedule is Monday through Friday, 8:00 a.m. to 5:00 p.m. Compensation is listed as 41.81.
Requirements
- Complete an undergraduate core program in mathematics.
- Complete three CAS examinations for positions in the Property & Casualty Division; three SOA examinations for positions in the Life & Health or Managed Care Division; or three CAS or SOA examinations for positions in the Financial Regulation Division.
- Have four years of experience in the actuarial field pertinent to the assigned division. Managed Care positions require managed care experience; Property & Casualty positions require property and casualty experience; Life & Health positions require life and health experience; Financial Regulation positions may accept experience of any type.
- Have 24 months of experience in operating a personal computer.
Responsibilities
- Analyze complex Property and Casualty Insurance rate filings for reasonableness of rate structure and determine whether rates are adequate, not excessive, and not unfairly discriminatory according to sound actuarial principles.
- Ensure rates comply with applicable state and federal laws and policies.
- Notify insurance companies of rate compliance issues, provide necessary information to filers, and approve rates for use in Ohio.
- Research and understand relevant compliance requirements.
- Create and maintain compliance review tools and provide data analysis.
- Provide direction, training, and peer reviews of work completed by lower-level insurance actuarial analysts.
Benefits
- Medical coverage
- Free dental, vision, and basic life insurance premiums after completion of the eligibility period
- Paid time off, including vacation, personal, and sick leave
- 11 paid holidays per year
- Childbirth, adoption, and foster care leave
- Education and development opportunities, including Employee Development Funds and Public Service Loan Forgiveness
- Public retirement systems, including OPERS, STRS, SERS, and HPRS
- Optional deferred compensation through Ohio Deferred Compensation
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
