The Rates Bureau is responsible for reviewing premiums charged and predictive models utilized by insurance companies operating in Montana in compliance with applicable statutes. Drawing on its expertise and mutually respectful relationships with regulated entities, the Rates Bureau saved Montana consumers $7.4 Million in 2018. If you have a passion for protecting consumers while simultaneously reviewing new and cutting-edge predictive modeling from the insurance industry, this position is for you.
This position is for an actuary and/or statistician who loves to learn and is interested in staying abreast of the ever-changing insurance industry. The successful candidate will have an amazing opportunity to progress though a career ladder with additional education, certifications, and experience.
Do you have experience applying advanced principles of property and casualty actuarial science and statistics to conduct actuarial/statistical analysis of property and casualty rate filings? As a part of the rate filing review process, this position is responsible for reviewing property and casualty actuarial/statistical models created by outside professionals and insurance companies to determine whether rates are actuarially justified and compliant with Montana law. The successful candidate will work on initial review of routine filings and assigned tasks, using pre-established checklists. This position will initially be working under immediate supervision with frequent support from other actuaries, you will be required to perform analysis independently and progress through the career ladder. Additionally, to be successful in the role, the ideal candidate will have statistical modeling programming experience such as R, SAS, or Python.
If you have experience performing the duties highlighted above, this role might be just what you’re looking for and we would enjoy hearing more about your experiences. Please refer to the required education, experience and competencies below for more information. Additionally, follow all the steps outlined in the Special Instructions section below to submit your application.
Minimum Educational Requirement:
Bachelor’s degree in Mathematics, Actuarial Science, Statistics, or a closely related field
Minimum Experience Requirement:
A minimum of one (1) year of related actuarial, statistical, or equivalent experience (e.g. statistics, mathematics, etc.).
Preferred Education and Experience:
Master’s degree in statistics
A minimum of two years of progressively responsible statistical experience and/or property and casualty actuarial experience
Associate of Casualty Actuarial Society (ACAS), pre-ACAS, iCAS Certified Specialist in Predictive Analytics (CSPA).
* Alternate combinations of education and experience may be considered on a case-by-case basis.
The successful candidate should possess the ability to:
Apply knowledge of statistical modeling and predictive analysis to review insurance industry property and casualty premiums and models.
Proactively seek ways to grow and expand professional skills and seek out learning opportunities for continued growth in the profession.
Interpret and apply laws and regulations to property and casualty insurance premiums and predictive models.
Exhibit strong analytical thinking.
Posses the ability to effectively communicate with others, including the Chief Actuary, and more senior level actuaries/statisticians.
Demonstrated responsiveness and follow through on all activities.
An applicant without the requisite minimum experience may be hired under a training assignment at an annual base salary below the base pay established by the agency pay rules. Conditions of the training assignment will be stated in writing at the time of hire.
How to apply?
If you feel you have the qualifications for this position and have an interest in protecting Montana Consumers, please submit ALL of the following with your application materials:
Two Professional References
Proof of Certifications and/or Actuarial Exams Passed.
***NOTE: In your cover letter, please explain your experience in statistical/predictive modeling, predictive analysis, programming in R, SAS, or Python, and how you meet the qualifications and competencies as outlined in this job posting.
Important Tip: Please make sure to mark your attachments as "relevant" or we will be unable to view your documents.
Please Note: You will NOT be considered without these required items.
Additional Salary Information: Benefits Package Eligibility: Health Insurance, Paid Leave & Holidays, Retirement Plan
Internal Number: 21140527
About Montana Department of Insurance
The DOI is a criminal justice agency whose primary mission is to protect Montana's consumers through insurance and securities regulation. DOI places a priority on consumer protection while fostering a strong, competitive marketplace that provides consumers with choices and access to high-quality, legitimate insurance and securities products.