Data Management, Ratemaking, Worker’s Compensation
The Director of Actuarial Services will initially work with and under the direction of the current Actuarial Services Vice President of the Minnesota Workers Compensation Insurers Association, (MWCIA), to manage the core data capture, actuarial, statistical, and economic aspects of Minnesota workers’ compensation ratemaking. Responsibilities will also include ratemaking research, expanding loss cost driver analytic capabilities, and comprehensive interaction and communication with a wide variety of stakeholders regarding significant aspects of Minnesota workers compensation ratemaking. MWCIA is seeking an experienced actuary for this position, with the goal to eventually transition to Vice President as part of the MWCIA management team within two years.
Plan, manage, and coordinate various ratemaking processes in order to develop the best possible strategies for preparation and presentation of ratemaking studies and related exhibits.
Plan, manage, and participate in statistical and actuarial research projects for the purpose of refining and improving the analyses of workers’ compensation cost implications.
Analyze the monetary impacts of proposed and newly enacted legislation.
Analyze the results of more detailed data stratification for the purpose of explaining the origins of various claim costs.
Research, test, and study the results of alternative technical approaches developed to improve various ratemaking processes.
Conduct a wide variety of other technical studies when appropriate.
Serve as a resource and be responsible for the maintenance and enhancement of communication of technical information to a variety of groups to ensure a clear and uniform understanding of the statistical and actuarial concepts of workers’ compensation pricing. These groups include, but are not limited to:
Insurance company actuaries, statisticians, and other personnel,
Association board and committee members,
Association actuarial consultants,
Association staff and attorneys,
State of Minnesota technical personnel, such as the Commerce Department actuary, and the Labor and Industry Department research and policy staff,
Insurance industry lobbying and information organizations,
Workers’ Compensation Reinsurance Association technical staff,
Assigned Risk Plan personnel,
Outside actuarial organizations such as the National Council on Compensation Insurance and other technical consulting firms,
Special committees created to study and improve various features of the workers’ compensation system.
Workers’ Compensation insurance agents and brokers,
Plan, coordinate, and monitor various Association data capture processes for the purpose of ensuring efficient statistical processing, accurate statistical reports, and timely operations support for ongoing actuarial functions.
Manage the preparation, distribution, receipt, processing, and summarization of insurance company financial call data.
Manage the development, maintenance, and changes of various Statistical Plan rules or exceptions and their dissemination.
Oversee various data processing activities.
Participate actively on the Association management team to define and refine both general and specific Association objectives, and to effectively plan and shepherd various efforts to meet them.
MINIMUM JOB QUALIFICATIONS
Bachelor of Science in Mathematics, Business or equivalent degree
Associate in the Casualty Actuarial Society (ACAS) FCAS preferred
10 years’ casualty actuarial experience with increasing managerial responsibilities
Significant experience in Workers Compensation ratemaking
Strong organizational, communication, analytical and problem solving skills