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 applying advanced principles of property and casualty actuarial science and statistics to conduct actuarial/statistical analysis of property and casualty rate filings? As a part of the rate filing review process, this senior actuarial position is responsible for reviewing property and casualty actuarial/statistical models created by outside professionals and insurance companies to determine whether rates are actuarially justified and compliant with Montana law. In this role, you must be comfortable with conducting analysis, pricing, and risk assessment to estimate financial outcomes using gained knowledge and experiences in mathematics, probability, statistics, and principles of finance. The successful candidate in this position must be able to independently construct and analyze actuarial/statistical models consisting of multiple and ambiguous factors in order to determine whether rates provided by insurers are actuarily justified, and often with incomplete information. The candidate in this position will serve as a role model to others while leading and directing the work of less-experienced actuaries, and progressing through the career ladder. When the need arises, the candidate in this position will also be responsible for presenting information both internally and externally.
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 outlined in the Special Instructions section below to submit your application.
Minimum Educational Requirement:
Bachelor’s degree in Mathematics, Actuarial Science, Statistics, or a closely related field
Minimum Experience Requirement:
A minimum of four (4) years of related actuarial, statistical, or equivalent experience (e.g. statistics, mathematics, etc.).
Demonstrated progress towards advanced training, education, and/or certification in statistics or the Casualty Actuarial Society.
Experience with training less experienced actuaries/statisticians.
Preferred Education and Experience:
Master’s degree in statistics
Six years of progressively responsible statistical experience and/or property and casualty actuarial experience
Associate of Casualty Actuarial Society (ACAS), Fellow of Casualty Actuarial Society (FCAS), and/or iCAS Certified Specialist in Predictive Analytics (CSPA).
* Alternate combinations of education and experience may be considered on a case-by-case basis.
The successful candidate should exhibit the following competencies:
Expertise in actuarial/statistical analysis across multiple technical areas, including analysis of new and unprecedented methodologies.
Ability to apply a wide variety of actuarial/statistical applications to a broad range of ambiguous data.
Interpret and apply laws and regulations to property and casualty insurance premiums and predictive models
Can serve as expert to train, lead, and provide guidance to less experienced actuaries/statisticians.
Ability to solve complex problems independently.
Must possess critical and analytical thinking skills.
Effective communication, leadership, and mentoring skills are essential.
Must demonstrate initiative, be a change agent, and use good judgement when making decisions.
How to apply?
If you feel you have the qualifications for this position and have an interest in protecting Montana Consumers, please submit ALL of the following with your application materials:
Cover letter *
Two Professional References
Proof of Certifications and/or Actuarial Exams Passed.
** Note:In your cover letter, please explain your experience and how you meet the qualifications and competencies as outlined in this job posting. Additionally, please explain your experience in in statistical/predictive modeling, predictive analysis, programming in R, SAS, or Python, and how you meet the qualifications and competencies as outlined in this job posting.
Important Tip: Please make sure to mark your attachments as "relevant" or we will be unable to view your documents.
Please Note: You will NOT be considered without these required items.
CSI will invite a limited number of applicants to a minimum of one structured interview. Selectees are subject to successful reference, background, and fingerprint check
This position is open until filled, with the initial review of applications beginning March 31, 2021.
Additional Salary Information: Benefits Package Eligibility: Health Insurance, Paid Leave & Holidays, Retirement Plan
Internal Number: 21140531
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.