The Department of Commerce, Community and Economic Development,
Division of Insurance is recruiting for a Life and Health Actuary.
Under the general direction of the Director, this position will serve as The Life and Health Actuary in our Juneau office. This position will provide technical actuarial support for issues involving life and health insurance, including the review of premium rates for use in Alaska, and financial analyses of insurer solvency and reserve adequacy.
Duties of this position include but are not limited to:
The Life and Health Actuary position is located in our Juneau office. Candidates should have at least five years of actuarial experience with a solid understanding of insurance policy rate and form filing review within the context of the state-based regulatory system. Experience reviewing or preparing actuarial aspects of life insurance, annuity, and disability income insurance, and/or long-term care insurance product filings is helpful.
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Review rates, forms, and rules for all life and healthcare plans for compliance with Alaska and federal statutes and regulations.
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Verify trend, experience, utilization and other criteria submitted by companies to support their rate filing(s).
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Interact with insurance companies to expedite the rate filing evaluation process.
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Provide technical expertise to other division staff, including the director and filing analysts.
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Perform policy analysis, market research, and data collection.
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Collect statistics; work with other state agencies and research organizations to develop studies in areas such as medical, product, and insured population trends in Alaska.
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Monitor and analyze state and federal studies and proposals; and make recommendations to the director.
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Analyze data, preparing reports, and presenting information to a variety of audiences including members of the industry regulated by the Division of Insurance.
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Analyze issuer major medical rate filings and determine outcome.
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Formulate and interpret statistical data.
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Evaluate insurance issuer operations
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Provide technical support for examinations of companies and producers.
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Respond to inquiries and requests for information from division staff, the public, other state agencies, state insurance departments, and the legislature.
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Take lead role in formulating, drafting, implementing, and monitoring legislation and regulation on life, health, and other insurance-related issues.
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Attend continuing education seminars; participate in webinars and conference calls to keep informed of state and national trends, statutes, and regulations, including the Affordable Care Act.
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Participate on National Association of Insurance Commissioners (NAIC) committees and task forces.
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Develop model laws and regulations, often as the director’s designee; and prepare issue papers, actuarial guidelines, handbooks, and compliance manuals.
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Travel to such locations and with such frequency as the director deems necessary or desirable. Position may require overnight, out-of-town travel at least three times each year.
Our successful candidate will also possess some or all of the following knowledge, skills and abilities (KSA’s). Please document your level of skill and/or experience with each item on this list in your attached, professional cover letter. Applicants are not required to have experience in every area. If you do not have experience with a particular trait, simply say so.
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Demonstrate strong organizational, time management, and communication skills.
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Work collaboratively in a virtual environment with team members in different locations.
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Demonstrate superior attention to detail and strong writing skills.
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Explain complex actuarial concepts in terms understandable to non-actuaries.
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Knowledge of insurance actuarial procedures and principles.
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Knowledge of insurance finances; insurance principles and coverages and insurance company operations and management.
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Knowledge of financial reporting procedures and policies; loss reserving methodologies
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Higher level mathematics, probability, and statistics.
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Knowledge of insurance laws, rules, and regulations.
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Effectively present information, verbally and in writing, to state insurance regulators, insurance company personnel, and the general public at all organizational levels.
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Communicate effectively, both orally and in writing; develop and manage rate filing tracking system
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Proficiency in System for Electronic Rate and Form Filing (SERFF); Microsoft Word, Excel, and PowerPoint; and Adobe Acrobat.
More information about our division may be found on our website at http://insurance.alaska.gov
Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or similar degree from an accredited college or university. Five to seven years’ actuarial experience. Experience reviewing or preparing healthcare insurance rate filings is mandatory, and experience reviewing life insurance, annuity, disability income insurance, and/or long-term care insurance product filings would be beneficial. Solid working understanding of actuarial concepts for all life and health products, including but not limited to, pricing and valuation and non-forfeiture concepts, requirements, and actuarial standards.
Licenses, Certificates, registrations:
Designation of Associate from the Society of Actuaries and membership in the American Academy of Actuaries preferred.
Application Information:
Please attach a separate, professional cover letter to your application/resume before submitting it online or, if unable to attach to your application, fax it to the contact number provided in the job posting.
Your cover letter should:
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Be professionally written and include proper format, grammar, spelling and punctuation; and
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Address your experience in relation to each bulleted knowledge, skills and abilities listed in the above section of this recruitment.
Your cover letter will be used to help determine which applicants will advance to the interview phase of the recruitment and selection process.
Your professional cover letter will also be used as a writing sample.
Additional required information:
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Copies of your most recent three (3) evaluations; and
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Three (3) professional references who have had supervisory responsibility over you along with their daytime contact phone numbers.
EEO Statement:
The State of Alaska complies with Title I of the Americans with Disabilities Act (ADA). Individuals with disabilities, who require accommodation, auxiliary aides or services, or alternative communication formats, please call 1-800-587-0430 or (907) 465-4095 in Juneau or TTY: Alaska Relay 711 or 1-800-770-8973 or correspond with the Division of Personnel & Labor Relations at: P.O. Box 110201, Juneau, AK 99811-0201. The State of Alaska is an equal opportunity employer.
Special Notice:
This position is exempt and is not in the classified services.
Exempt positions/employees are excluded from title 39, Chapter 25, State Personnel Act and the Personnel Rules adopted under it.
To Apply:
Interested applicants may submit their resume and cover letter to [email protected]
If you have specific questions regarding the position, please contact the hiring manger directly:
Hiring manager: Heather Carpenter (Division Director)
Phone number: (907) 465-2518
Fax number: (907) 465-3422
