The Insurance Compact is now hiring - Actuary Reviewer
Position Actuary Reviewer
Req Code 97122
Full Time Yes
Job Overview: The Insurance Compact Commission has an exciting opportunity for an experienced long-term care insurance Actuary. We are looking for a team member who would enjoy working for an organization that supports insurance regulators, consumers, and insurance companies by improving the efficiency and uniformity of insurance product review and approval in the ever-changing insurance marketplace. Are you driven to utilize your analysis skills while delivering excellent service to build longlasting rapport? If so, this is a perfect opportunity for you! This is a full-time, fully remote position.
• Applies sound actuarial principles, maintains actuarial qualifications, and adheres to the Standards of Practice as promulgated by the Actuarial Standards Board.
• Reviews in a timely and thorough manner to determine compliance with the applicable Uniform Standards, Rules and Operating Procedures, and Filing Requirements:
• Filings of initial rates, new rates for new business, and new rates for in-force business for long-term care insurance and disability income insurance, in a timely and thorough manner to determine compliance with the applicable Uniform Standards, Rules and Operating Procedures, and Filing Requirements;
• Annual long-term care rate certifications and triennial memorandum submissions connected with previously approved product filings; and
• Life insurance and annuity product flings.
• Completes all necessary objection letters/correspondence and applicable actuarial checklists in filings. Follows through on responses to objection letters and documents telephone and email communications in filings. Works with filers, including company actuaries, to facilitate compliance with the Uniform Standards and actuarial requirements. Appropriately documents all regulatory decisions.
• Effectively communicates on a daily basis with other Compact actuaries and team members at all levels on ongoing product filing operations and resolving questions and issues with product filings and Uniform Standards.
• Works with member regulators to respond to inquiries and provides information about actuarial and rate reviews completed by the Compact Office.
• Responds to pre-filing inquiries from current and potential company filers.
Skills and Abilities:
• Strong writing skills.
• Strong attention to detail and persistence in resolving compliance issues.
• Ability to read, analyze and apply documents such as insurance policies, procedural manuals, instructions, and business correspondence/memoranda.
• Ability to explain complex actuarial concepts in terms understandable to non-actuaries.
• Ability to operate in a fast-paced regulatory environment to handle and independently prioritize multiple projects.
• Proficiency in Microsoft Word, Excel, PowerPoint, and Adobe Acrobat reader.
• Excellent customer service skills and attitude while maintaining poise and diplomacy.
• Strong organizational skills resulting in high quality, accurate work the first time with limited instructions.
• Ability to quickly learn new electronic applications used in the IIPRC product operations.
• Must be politically astute, savvy and be able to maintain strict confidentiality.
Minimum Education and/or Experience Required:
• Bachelor’s Degree in Actuarial Science, Mathematics, Statistics or similar degree from an accredited college or university required.
• Ten years actuarial experience required.
• Experience reviewing or preparing long-term care insurance rate filings required.
• Solid working understanding of actuarial concepts for life insurance, annuities, long-term care insurance, and disability income insurance, including but not limited to pricing, valuation, and nonforfeiture concepts, requirements and actuarial standards.
• Experience reviewing or preparing group or individual disability income insurance rate filings preferred.
• Experience reviewing or preparing life insurance and/or annuity product filings.
• Familiarity with Insurance Compact Uniform Standards as they apply to life insurance, annuities, disability income insurance and long-term care insurance, including rate filing standards.
• Familiarity with applicable nonforfeiture requirements for life and annuity products.
• Designation of Associate from the Society of Actuaries with membership in the American Academy of Actuaries preferred.
Application Deadline: December 21st, 2022
Applications can be submitted by clicking here.
Why Work at the Compact?
Flexible Work Schedule
37.5 Hour Work Week
Vacation Buy Back
Employee Recognition Programs
The Compact is proud to be an Equal Opportunity Employer
Applicants for all positions are considered without regard to age, race, creed, color, religion, sex, sexual orientation, gender identity or expression, national origin or ancestry, marital status, pregnancy, genetic information, military or veteran status, disability, or any other basis protected by applicable law.