Department of Insurance, Financial Institutions & Professional Registration
  • 27-Apr-2017 to 26-May-2017 (CST)
  • Jefferson City, MO, USA
  • Negotiable. Salary will be commensurate with relevant qualifications and experience. Applicants should provide a salary history and a salary expectation along with a completed application.
  • Salary
  • Full Time

Missouri State Employees' Retirement System (Defined benefit plan), Major Health Insurance, Dental, Vision (provided for employees and available for families), Paid Life Insurance (amount equivalent to annual salary), Long-Term Disability Insurance, Cafeteria Plan, Deferred Compensation Plan, 12 paid holidays per year, 10 hours of annual leave per month, 10 hours of sick leave per month, Credit Union,


JOB OPPORTUNITY NOTICE

Actuary

STARTING ANNUAL SALARY: Negotiable.  Salary will be commensurate with relevant qualifications and experience. Applicants should provide a salary history and a salary expectation along with a completed application.

Full-time, benefited position

The Missouri Department of Insurance, Financial Institutions and Professional Registration, Division of Insurance Company Regulation, has a full-time position located in Jefferson City, Missouri.

This is an excellent opportunity for an individual with an interest in building a career as a regulatory actuary specializing in the life & health insurance field.

The Insurance Company Regulation Division of the DIFP is responsible for the monitoring and analysis of the financial condition of insurance companies licensed in Missouri to ensure they can pay policyholder claims.  The Division is currently seeking applicants interested in serving the citizens of Missouri and protecting policyholders through the performance of the actuarially related tasks associated with the analysis and examination of Missouri domestic insurance companies. This position also provides actuarial assistance to the Market Regulation Division as it relates to life or health policy form filing and rate reviews and actuarial aspects of market conduct examinations.

This is an advanced level actuarial position for a credentialed life or health actuary. A person in this position will become familiar with innovative products and current market trends related to the life and health industry. This person will be joining the department at an exciting phase in the implementation process of key solvency modernization initiatives such as principals based reserving (PBR), Enterprise Risk Management Reports and Own Risk Solvency Assessments (ORSA). 

The DIFP utilizes cutting edge auditing programs and database systems to assist in this work.  DIFP is a member of the National Association of Insurance Commissioners (NAIC) and is a national leader in the development and enhancement of the strong state based insurance regulatory system in the United States. 

The Supervising Life & Health Actuary provides direct supervision and direction to this employee.  However, substantial interaction with the personnel from the Divisions of Insurance Company Regulation and Market Regulation is expected.  This is a standard full time position but flexibility in work location and schedules may be considered.

EXAMPLES OF WORK PERFORMED:

Assist in all phases of financial analysis and examination as it relates to actuarial matters

Review of actuarial related filings to determine product, pricing, reserving, cash flow, asset/liability matching, reinsurance, ORSA modeling and risk mitigation strategies and other associated risks related to domestic life and health insurers 

Provide actuarial support to the product filing section related to policy forms and rate filings and actuarial matters identified through market conduct examinations   

Evaluations, from an actuarial viewpoint, proposed legislation or regulations 

Assistance related to actuarial related issues regarding NAIC committee activities

Training and assistance for Financial and Product Analysts related to actuarial issues

EXAMPLES OF REQUIRED KNOWLEDGE, SKILLS, AND ABILITIES:

Knowledge of actuarial theory, principles and practices relating to the life or health insurance industry. 

Ability to analyze uncertainties, risk, and probabilities and their implication on future contingent events. 

Ability to evaluate the financial and economic effect of events. 

Knowledge of sophisticated investment life contracts. 

Knowledge of fundamental and complicated mathematical concepts. 

Knowledge of factors/conditions affecting insurers including legal political, sociodemographic, and economic

Understanding of insurance company operations, risk management techniques and financial structure. 

Ability to communicate effectively. 

Strong command of English.

Computer proficiency in Microsoft Excel and Word.

MINIMUM EXPERIENCE AND TRAINING QUALIFICATIONS:

(The following statement represents the minimum experience and training standards preferred.  Equivalent substitution will be permitted in case of deficiencies either in experience or education.)

Two years' experience in actuarial related work and graduation from a four-year college or university with specialization in mathematics, statistics, actuarial science or related field. 

NECESSARY SPECIAL QUALIFICATION:

Must possess at a minimum an Associateship in the Society of Actuaries (ASA).

Application Process:

If interested, please apply online at http://difp.mo.gov/jobs and view current job opportunities. Once on the webpage, complete the "Apply Now" information to the right, then click "Apply for this Position". This will direct you to the online application. You should also submit a current resume and any college transcripts by attaching the documents to the application. Please contact Human Resources with any questions at the telephone number or e-mail address listed below:

Missouri Department of Insurance, Financial Institutions and Professional Registration

Attention: HR

PO Box 690

Jefferson City, MO 65102

Telephone: (573) 751-4126

E-mail: jobs@difp.mo.gov

AN EQUAL OPPORTUNITY EMPLOYER 

 

Department of Insurance, Financial Institutions & Professional Registration
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