The Iowa Insurance Division is recruiting to fill an Actuary position to review insurance rate filings for various lines of property and casualty insurance including but not limited to automobile, homeowners, workers compensation, commercial general liability, crop and professional liability insurance.
The actuary will analyze insurance rate filings to determine their actuarial soundness and for compliance with legal requirements and departmental regulations. The actuary also analyzes formulas used in the computation of net premium and determines that benefits values are sound and equitable. The actuary will be presented with the responsibility to analyze the very significant innovations and advancements in predictive analytics and models being used in today's insurance industry.
Applicants for this position should have the following competencies:
Knowledge of higher mathematics as it relates to actuarial problems, such as computational mathematics, actuarial theory and practice, and statistical theory.
The ability to apply technical actuarial knowledge to the solution of insurance problems.
The ability to analyze data and prepare reports.
Knowledge of the provisions of state law governing the insurance programs.
Displays a high level of initiative, effort and commitment towards completing assignments efficiently.
Works with minimal supervision.
Demonstrates responsible behavior and attention to detail.
Minimum Qualification Requirements
Graduation from an accredited college or university with major coursework in mathematics, statistics, or actuarial science and the experience equal to three years of full-time work conducting actuarial studies;
an equivalent combination of education and experience substituting the equivalent of one year of qualifying experience for each year of the required education to a maximum substitution of four years;
graduate level coursework in actuarial science or statistics may be substituted for up to one year of the required experience on the basis of 30 semester hours equals one year of experience;
completion of each part of the casualty or life actuarial examination may be substituted for three months of the required experience with a maximum substitution of one year.
For additional information, please click on thislink to view the job description.
Additional Qualification Requirements
Actuarial or actuarial analyst experience preferred.
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