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Actuary

Date Posted:  Nov 13, 2021
Requisition ID:  271321
Location: 

Indianapolis, IN, US, 46204

 

Work for Indiana

Grow your career with the State of Indiana! With more than 50 executive branch agencies, the State of Indiana is a diverse workforce offering employees stimulating and challenging projects across a broad scope of career opportunities. As a State of Indiana employee, you impact the well-being of Indiana’s communities every day.

 

At the State of Indiana, we don’t just talk about diversity and inclusion – Our goal is to create a welcoming, accessible, and equitable workplace, with a workforce that is representative of the State of Indiana population. We are proud to be an equal opportunity employer.

 

About the Indiana Department of Insurance (IDOI):
The purpose of the Indiana Department of Insurance is to protect Hoosiers as they purchase and use insurance products to keep their assets and their families from loss or harm. Consumers may need assistance with certain claim situations or just help in understanding how their policies work. Our other primary obligation is to monitor the financial solvency of the insurance companies domiciled in Indiana so that the legal promises made in insurance policies are honored. To these ends, our Department staff is committed to providing exceptional customer service for both our consumers and our companies, and to maintain a fair and objective viewpoint as we examine each issue and circumstance within our jurisdiction.
 

Salary:

The starting salary for this position may be commensurate with education and/or experience.

About the Job:

The Actuary reviews and analyzes Property and Casualty insurance rates to determine that they are not excessive, unfairly discriminatory, or inadequate. The Actuary's work is extremely technical in scope and involves analysis and evaluation of complex mathematical variables.  Must exercise judgment on a daily basis that impacts the ability of insurance companies to sell their products and also provide consumer protection from excessive, inadequate, or unfairly discriminatory rates.

A Day in the Life:

The essential functions of this role are as follows:

 

  • Review all P&C rate filings for compliance with Indiana statutes and regulations as well as actuarial standards of practice;
  • Sign off and update SERFF filing system for rate filings;
  • Interact with insurers regarding rate submissions and to request appropriate information as needed;
  • Provide actuarial comments on legislative proposals;
  • Provide actuarial support for the Indiana Mine Subsidence Insurance Fund such as monitoring insurer quarterly detail data submissions and answering insurer questions about those data requirements;
  • Review credit scoring methodologies for compliance with Indiana law, commonly accepted actuarial principles, and fair insurance ratings methodology;
  • Advise on P&C actuarial and related matters;
  • Handle complaints and inquiries concerning rates and related issues from consumers, insurance companies, agents, brokers, and rating organizations;
  • Represent the Commissioner at technical and professional conferences; 
  • Participate with other IDOI staff on P&C-related projects as needed;

 

The job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee. Other duties, responsibilities and activities may change or be assigned at any time. Reasonable accommodations may be made to enable individuals with disabilities to interview and to perform the essential functions of this role.
 

What You'll Need for Success:

  • Bachelor’s degree in actuarial science, mathematics, or statistics from accredited college or university; 
  • Must be a fellow or associate of the Casualty Actuarial Society or the Society of Actuaries in addition to being a member of the American Academy of Actuaries;
  • Must remain in compliance with all continuing education requirements of the applicable enrolling professional body;
  • Must have five (5) years of Property and Casualty experience in a responsible actuarial position;
  • Ability to handle multiple tasks simultaneously;
  • Ability to communicate with consumers, companies, and agents.

Supervisory Responsibilities/Direct Reports:

This role does not provide direct supervision to direct reports.

 

Benefits of Employment with the State of Indiana:

The State of Indiana offers a comprehensive benefit package for full-time employees which includes: 

  • Three (3) medical plan options (including RX coverage) and vision/dental coverages 
  • Wellness program (offers premiums discount for the medical plan) 
  • Health savings account (includes bi-weekly state contribution) 
  • Deferred compensation account (similar to 401k plan) with employer match 
  • Two (2) fully-funded pension plan options 
  • Group life insurance 
  • Employee assistance program that allows for covered behavioral health visits 
  • Paid vacation, personal and sick time off 
  • Competitive leave policies covering a variety of employee needs 
  • 12 company paid holidays, 14 on election years 
  • Qualified employer for the Public Service Loan Forgiveness Program 
  • New Parent Leave 
  • Free Parking 
  • Free LinkedIn Learning 

 

Equal Employment Opportunity:

The State of Indiana is an Equal Opportunity Employer.

 

Current Employee? Click here to apply.


Nearest Major Market: Indianapolis