The Montana Department of Insurance has an opening for a P&C Actuary.The Rates Bureau is responsible for reviewing premiums charged and predictive models utilized by insurance companies operating in Montana in compliance with applicable statutes. Drawing on its expertise and mutually respectful relationships with regulated entities, the Rates Bureau saved Montana consumers $7.4 Million in 2018. If you have a passion for protecting consumers while simultaneously reviewing new and cutting-edge predictive modeling from the insurance industry, this position is for you.
This position is for an actuary and/or statistician who loves to learn and is interested in staying abreast of the ever-changing insurance industry. The successful candidate will have an amazing opportunity to progress though a career ladder with additional education, certifications, and experience. Do you have experience understanding and applying advanced principles of actuarial science and statistics to conduct actuarial/statistical analysis of rate filings? The successful candidate would be responsible for performing the following work activities:
Analyzing actuarial/statistical models created by outside professionals and insurance companies to determine whether rates are actuarially/statistically justified.
Providing training and support to less-experienced actuaries/statisticians.
Working in a team but also conducting analysis independently.
If you have experience performing the duties highlighted above, this role might be just what you’re looking for and we would enjoy hearing more about your experiences. Please refer to the required education, experience and competencies below for more information. Additionally, follow all the steps the Special Instructions section below to submit your application.
If you feel you have the qualifications for this position and have an interest in protecting Montana Consumers, please submit your cover letter, resume, college transcripts, two professional references, and proof of certifications and/or actuarial exams passed. You will NOT be considered without these required items.
In your cover letter, please explain your experience in statistical analysis, predictive analytics and/or actuarial analysis and how you meet the qualifications for the position.
Education and Experience Required:
Bachelor’s degree in statistics, mathematics, or a closely related field
2 or more years of related work experience
Proficiency in Excel and other Microsoft office products
Proficiency in statistical and predictive analytics
Programming skills in statistical modeling like R, SAS, or Python
Experience with property and casualty insurance rates and predictive modeling
Associate of Casualty Actuarial Society (ACAS), pre-ACAS, iCAS Certified Specialist in Predictive Analytics (CSPA) or equivalent professional certification.
Four years of progressively responsible actuarial and/or statistical experience
Experience training and supporting less experienced actuaries/statisticians
Alternate combinations of education and experience may be considered on a case-by-case basis.
The successful candidate should possess the ability to:
Apply knowledge of statistical/mathematical modeling and predictive analysis to review insurance industry premiums and models.
Keep current professionally and actively seek out learning opportunities in the profession.
Interpret and apply laws and regulations to insurance premiums and predictive models.
Be fully proficient in actuarial/statistical analysis.
About Montana Department of Insurance/ Commissioner of Securities and Insurance
The DOI is a criminal justice agency whose primary mission is to protect Montana's consumers through insurance and securities regulation. DOI places a priority on consumer protection while fostering a strong, competitive marketplace that provides consumers with choices and access to high-quality, legitimate insurance and securities products.