ACTUARIAL ASSISTANT
State of Illinois - Springfield, IL
posted 3 days ago
About the position
The Illinois Department of Insurance is seeking to hire an Actuarial Assistant in the Health Actuarial Unit, Actuarial Services Section of the Financial Solvency Division. Under general direction of the Health Actuary, this position reviews insurers' Accident & Health rate filings supporting premium increases to ensure compliance with state laws and regulations, supports Actuarial Examiners and Financial Analysis staff in their reviews of health insurance reserves and Risk Based Capital calculations to ensure compliance with statutory requirements, including actuarial opinion and memorandum requirements, and reviews the latest trends and updates to Illinois health reserve and capital requirements. We invite all qualified applicants to apply.
Responsibilities
- Reviews insurers' rate filings supporting premium increases on accident and health insurance policies to ensure compliance with state laws and regulations.
- Conducts reviews of Statements of Actuarial Opinion submitted by insurance entities.
- Supports Actuarial Examiners and Financial Analysis staff in review of health insurance reserves and Risk Based Capital calculations.
- Reviews latest trends and updates to Illinois health reserves and capital requirements.
- Assists with conducting data calls to regulated entities as necessary in connection with various ad hoc health actuarial projects.
- Performs other duties as required or assigned which are reasonably within the scope of the duties enumerated above.
Requirements
- Requires knowledge, skill, and mental development equivalent to four (4) years of college with a major in Actuarial Science or requires four (4) years of college with coursework in mathematics, numerical analysis, calculus, probability, and statistics.
- Preferably supplemented by the equivalent to the certificate received for completion of Part 1 and any one of Parts 2, 3, or 4 of the examinations administered by the Society of Actuaries.
Nice-to-haves
- Prefers successful completion of at least two (2) actuarial exams administered by the Society of Actuaries/Casualty Actuarial Society (SOA/CAS).
- Prefers at least one (1) year of experience in actuarial work in the health insurance field.
- Prefers at least one (1) year of experience gaining knowledge of accounting principles and practices as related to insurance company operations.
- Prefers experience in performing detailed analysis of numerical and statistical data.
- Prefers at least one (1) year demonstrating ability to maintain satisfactory working relationships with other employees, state agencies, insurance company representatives, and the public.
- Prefers experience in preparing detailed statistical reports.
- Prefers ability to communicate effectively both orally and in writing.
Benefits
- Health, Life, Vision, and Dental Insurance
- 13 Paid Holidays annually, 14 on even numbered years
- 10-25 days of Paid Vacation time annually - (10 days in year one of employment)
- 12 Paid Sick Days annually (sick days carry over from year to year)
- 10 Weeks Paid Maternity/Paternity Leave
- 3 Paid Personal Days annually
- Pension Plan
- Deferred Compensation Program and other pre-tax benefit programs (Medical/Daycare)
- Flexible work schedules may be available, dependent upon position
- Tuition Reimbursement Program and Federal Public Service Loan Forgiveness Program eligibility
