Accounting and Reporting, Dynamic Risk Modeling, Predictive modeling
4 Year Degree
The Department of Regulatory Agencies (DORA) is dedicated to preserving the integrity of the marketplace and is committed to promoting a fair and competitive business environment in Colorado. This position is within DORA’s Division of Insurance which regulates the insurance industry and assists consumers and other stakeholders with insurance issues. The work unit conducts actuarial analysis, including reviewing, evaluating, examining and monitoring the solvency and actuarial analysis of insurance companies, or certain self-insurers and other insurance-related entities, and assessing company compliance with statutory, regulatory and actuarial standards for rate filings, financial examinations, and determination of reserves and reinsurance.
This position is the Chief Actuary and Director of the Actuarial Services Section of the Division of Insurance, and has active oversight over actuarial policies, procedures and controls - including ongoing risk analysis for rate-setting and examinations of companies. The Chief Actuary works closely with the Deputy Commissioner of Finance in strategically managing the actuarial section and its responsibilities, including budgeting for staff and resources necessary to carry out the Division's mission and responsibilities requiring actuarial analysis. The Chief Actuary is responsible for protecting the public's interests by ensuring the financial soundness of insurers by verifying the adequacy of reserves and actuarially-supported fair premium rates, the availability and affordability of insurance and fair treatment of policyholders and claimants while maintaining a positive business climate.
NOTE: A residency waiver has been granted for this announcement. Applications will be considered from residents and non-residents of Colorado.
You can only apply for this position via the State of Colorado's Job Opportunities Website, you may apply by clicking APPLY HERE.
MINIMUM QUALIFICATIONS (MQs):
Graduation from an accredited college or institution with a bachelor's degree in actuarial science, mathematics, statistics, finance, economics, or in a field of study directly related to the work assignment; AND
Six (6) years of professional* experience performing actuarial work with a regulated insurance company or other related entity, an actuarial consulting firm, or governmental work regulating insurance companies or other financial entities; AND
A minimum of two (2) years of experience supervising staff must be included in the six years of actuarial experience.
Necessary Special Requirements:
Applicants must hold or be eligible to hold credentials as an Associate or Fellow of the Society of Actuaries or the Casualty Actuarial Society, and be a member of the American Academy of Actuaries.
A combination of professional* work experience as described above, which provided the same kind, amount, and level of knowledge acquired in the required education, may be substituted for the bachelor's degree on a year-for-year basis.
There is NO substitution for the professional* actuarial experience or supervisory experience.
Required Competencies: The following knowledge, skills, abilities, and personal characteristics are required competencies and may be considered during the selection process (including examination and/or interview):
Demonstrated communication skills (oral and written);
Proven critical thinking and analysis skills, including the ability to analyze and interpret data;
Strong attention to detail;
Ability to problem solve and multitask;
Demonstrated supervisory/management and leadership skills, including the ability to elicit employee accountability, develop and enforce performance standards, and foster a positive, engaged and collaborative workplace environment;
Ability to work with various stakeholders, including, but not limited to peers, staff, board members, members of the public, internal and external customers, and division leadership;
Demonstrated customer service skills, including the ability to negotiate and facilitate difficult conversations, resulting in positive outcomes;
Strong judgment and confidence in decision-making skills, including the ability to make numerous, immediate and sound decisions on a routine basis;
Demonstrated interpersonal skills, including the ability to work well within a team;
Ability to manage time and plan and prioritize assignments;
Knowledge of actuarial standards of practice, and of actuarial review and analysis of rate filings and rating plans;
Creativity and flexibility, with an ability to adapt to new changes;
Knowledge and understanding of the use of PC software applications, including Microsoft Office (Word and Excel), Adobe Acrobat Pro, Google Drive, as well as the use of databases.
Currently hold credentials as an Associate or Fellow of the Society of Actuaries or the Casualty Actuarial Society, and be a member of the American Academy of Actuaries;
Experience with ACA filings;
Experience developing new processes and identifying new methods to streamline existing work processes for efficiency and accuracy;
Project management experience;
Experience researching and applying complex legislation to change work processes;
Experience with Principle Based Reserving (PBR) and Own Risk Solvency Assessment (ORSA);
Experience using statistical rating models, such as General Linear Models (GLMs);
Experience reviewing federal and state laws, statutes and regulations.
Conditions of Employment: Candidates who fail to meet the conditions of employment will be removed from consideration.
The successful passing of a reference check and/or, if required, a background check.
A reference check may include but is not limited to: contacting previous and current supervisors to verify employment and discuss performance, a review of the personnel file, a review of the performance record, etc.
The type of background check depends on the job duties of the position, and can include a review of any criminal record, credit report, and/or driving record.
This position requires the ability to travel in and out of the state. The amount and frequency of the travel will be determined based on the needs of the division. Travel is required up to 15% of the time, including staying out over weekends when required.
Internal Number: SFA 4032
About Department of Regulatory Agencies (DORA)
The Department of Regulatory Agencies (DORA) is dedicated to preserving the integrity of the marketplace and is committed to promoting a fair and competitive business environment in Colorado.
Consumer protection is our mission.