Overview:
We are seeking a highly skilled and experienced Supervisory Health Actuary (Bureau Chief) to join our team here at the Department of Insurance, Securities and Banking. As the Bureau Chief of the Health Actuarial Analysis Division of the Insurance Bureau you are responsible for the daily operations and management of the Division.
The Health Actuarial Analysis Division conducts actuarial and statistical reviews necessary to administer the laws governing health Insurance rate reviews and rebate determination: maintains models and databases for experience data; analyzes Insurance company's claim reserves, experience data and financial to determine adequacy of requests for rate Increases; community input in the determinations.
Duties:
Applies actuarial, accounting and statistical principles to the review of health insurance rates and related determinations. The review consists of an application of trend factors to project claim severity and frequency to project future costs. It also involves loss ratios and loss development factors, expense allowances and mathematical consideration of investment income.
Develops methods of statistical reporting by insurance companies and rating bureaus for purposes of enhancing the rate review and measuring the profitability of various kinds of health insurance products. The Incumbent submits required reports to the government agencies.
Makes information about health insurance rate filings available to the public and solicits community input on the filings prior to approval. The Supervisory Health Actuary testifies as an expert witness at rate hearings conducted by the Commissioner pursuant to the rating laws and prepares orders including findings of fact, conclusions of law, and recommended decisions.
Supervises and effectively utilizes employees of the Division, including, but not limited to: assignment and review of work; utilization of personnel to accomplish work objectives and to develop increased capabilities of employees: rating employee performance in accordance with established standards; recommending personnel actions; Interviewing and selecting new employees; approving leave; investigating complaints, and resolving differences between employees; providing expeditious accomplishment of work: and the development and maintenance of competent staff.
Plans routine operations, special projects, and new and improved activities; reviews and approves work plans and confers with subordinates to develop properly structured activities with clearly delineated tasks, responsibilities, reporting requirements and time frames.
Education/Experience:
Must be a Fellow of the Society of Actuaries (FSA) or an Associate of the Society of Actuaries (ASA) and a Member of the American Academy of Actuaries (MAAA).
Bachelor's degree in actuarial science, mathematics, statistics or a closely related field of study. and seven (7) years of actuarial experience with a minimum of five (5) years health experience or an equivalent combination of eleven (11) years of education, training, and experience sufficient to demonstrate that the applicant possesses the knowledge, skills, and abilities required to perform work in the position is required.
We offer competitive compensation and benefits packages. This is a full-time position.
Job Type: Full-time
Pay: $114,441.00 - $160,216.00 per year
Benefits:
- 401(k)
- Dental insurance
- Employee discount
- Flexible schedule
- Health insurance
- Health savings account
- Life insurance
- Paid time off
- Professional development assistance
- Retirement plan
- Vision insurance
Experience level:
- 10 years
- 11+ years
- 7 years
- 8 years
- 9 years
Schedule:
- 8 hour shift
- Monday to Friday
People with a criminal record are encouraged to apply
Education:
Experience:
- Actuarial: 7 years (Required)
- Health: 5 years (Required)
Ability to Commute:
- Washington, DC 20002 (Required)
Work Location: In person