The Bureau of Workers' Compensation (BWC) is a dynamic organization that offers career opportunities across many different disciplines. We value the richness of a skilled, diverse and engaged workforce. We’re committed to fostering and embracing an environment of inclusion and diversity to achieve our mission.
Under general direction of the Senior Director of Actuarial Analysis, demonstrates thorough knowledge of advanced mathematical & statistical concepts & intermediate-level actuarial terminology:
Supervises staff in BWC’s Actuarial Division (e.g. makes work assignments, evaluates work performance & training needs of employees, recommends appropriate training &/or corrective actions, interviews applicants & makes hiring recommendations).
Provides actuarial expertise & assistance to staff on complex actuarial & rating issues (e.g. loss development, payroll & loss trending, rating plan analysis, class relativity analysis, overall required premium rate levels) while following Actuarial Standards of Practice.
Provides recommendations, reports, summaries &/or other relevant narratives for actuarial leadership to review, modify &/or approve.
Works with Information Technology (IT) staff to ensure system updates are implemented accurately & efficiently.
Maintains Administrative Rules related to scope of responsibilities.
Prepares materials for Board presentations; supervises the compilation of data from various data sources (e.g. data warehouse, SQL Server) on payroll, indemnity & medical costs for calculation of rates for Ohio employers reflecting appropriate trends & economic conditions.
Analyzes & resolves complex actuarial issues (e.g. individual claim reserve analysis, alternative rating plan rules, rating factors & rate levels, paid loss analysis).
Serves on committees to develop & price rating plans that meet employer needs & to improve existing products & services for insured employers.
Analyzes rating plans in order to determine accomplishment of desired objectives.
Provides information to internal personnel & external actuarial consultants to support unpaid claim liability estimates & rate level recommendations.
Reviews recently-passed legislation for potential impact on data &/or work processes.
Performs related duties (e.g. interacts with other divisions [e.g. IT, Finance, Claims, Employer Services] to analyze & enhance existing enterprise systems, assists with & provides recommendations for development & improvement of internal actuarial applications, procedures & methodologies).
Basic Qualifications (Required) • 4-year college degree in quantitative field of study (Actuarial Science, Mathematics, Statistics, Finance, Economics, Physics, or related field). • AND Completion of actuarial exams recognized by the Casualty Actuarial Society covering topics of credibility, statistics, probability models, ratemaking, and reserving or estimating unpaid liabilities.
AND 4 years of ratemaking experience.
Preferred Qualifications (Desirable, in addition to the required Basic Quals)
• Associateship or Fellowship in the Casualty Actuarial Society and Member of the American Academy of Actuaries. • Management experience. • Workers Compensation experience, especially with(in) Ohio.
Knowledge of: BWC, state, &/or federal statutes, rules, regulations, policies, & procedures governing actuarial activities*; Ohio Ethics Law*; advanced mathematics, statistics & intermediate level actuarial science terminology & concepts; supervisory principles/techniques; employee training & development; Actuarial Standards of Practice*. Skill in: use of personal computer & applicable business software including advanced skill level of Excel & advanced database querying, software & applications; BWC specific actuarial programs & applications*. Ability to: function in fiduciary capacity (i.e. pursuant to OAC 123:1-5-01 Unclassified service)**; define problems, collect data, establish facts, draw valid conclusions, & synthesize solutions; prepare meaningful, concise, & accurate technical reports; establish & maintain effective working relationships; handle sensitive contacts with employers & state officials; communicate technical ideas in speaking so that the intended audience will understand.
(*) Developed after employment.
(**) relationship where the agency reposes a special confidence and trust in the integrity and fidelity of an employee to perform duties which could not be delegated to the average employee with the knowledge of proper procedures, characterized by qualities and personal attributes beyond technical competence.
Internal Number: PN 20067651
About Ohio Bureau of Workers' Compensation (BWC)
State agency servicing the employers and injured workers of Ohio.