Actuary I

Actuary I

SIF (Idaho State Insurance Fund) is a leader in Idaho workers’ compensation. Because we live and work locally, we recognize that our customers are the backbone of Idaho’s economy, and we are proud to offer services that protect their businesses and injured workers and support their financial strength. We empower our team to put people first, grow professionally, and have fun. At SIF, we’re passionate about Idaho and we’re passionate about what we do.

We are currently seeking a motivated Actuary I who can independently execute while aligning with broader organizational goals!

As an Actuary I, you will be responsible for working with policyholders’ services, claims and finance leadership in support of rate reviews, industry group analyses, reserving and other analytics functions. You will also partner with outside vendors to produce sound predictive models that support claims and pricing. As the lead actuary at SIF, you will be expected to maintain best practices based on industry and professional standards, producing sound results that senior management can rely on to make decisions.

Responsibilities:

• Work independently to produce sound actuarial tools and analyses used by SIF:
• Review and assess loss and loss adjustment expense reserves being able to explain results and recommendations to management and executive teams.
• Develop sound rate recommendations for underwriting.
• Build and maintain SIF pricing and rate adequacy monitoring tools.
• Support development of technical underwriting guidelines.
• Support SIF’s reinsurance program and monitoring of reinsurance coverage prepping data, reviewing reinsurance analysis and commutations.
• Support NCCI financial data call process as necessary, including calculating any data anomalies and communicating with NCCI to explain SIF’s data and answer questions.
• Work closely with external partners to understand, interpret and communicate actuarial results to SIF management.
• Work closely with external and internal partners to develop pricing and claims predictive models ensuring data integrity. Help implement, document, and maintain models for SIF.
• Stay abreast of trends and innovations in the casualty actuarial profession related to pricing, reserving, workers’ compensation, predictive modeling, and related areas.
• Work closely with the Data team function to monitor and inform data integrity and incorporate the use of analytics to inform decisions.
• Support the monitoring of external information sources for developments that may affect SIF’s operations and strategies, including such areas as regional business conditions, competitors, demographics, legal or regulatory changes, medical costs, utilization, treatment patterns and practices. Assess potential impacts and assist with the preparation of recommendations to inform management response.
• Serve as a consultant and resource for internal and external business information, pro-active problem resolution, and the application of analytical techniques.

Your qualifications should include:

• Minimum 4 of years of actuarial experience, including experience supporting actuarial reserving, pricing, or predictive modeling in the insurance industry. Experience in workers’ compensation insurance strongly preferred.
• Bachelor’s degree in actuarial science, mathematics, economics, finance, or a related field.
• At least 4 exams with goal of attaining ACAS/FCAS designation with the Casualty Actuarial Society in accordance with the guidelines established by SIF’s Actuarial Study and Professionalism Program.
• Motivated self-starter with the ability to work independently and as a team member.
• Solid analytical, problem-solving, and reasoning skills and ability to think critically and strategically.
• Strong communication skills with both technical and non-technical resources.
• Strong technical skills with proficiency in Python, R, or SQL.
• Deep desire to learn.
• Proven organizational and time-management skills; strong attention to detail.

What you can expect!

• A fun, collaborative culture
• Work-life balance
• Professional development opportunities that are more than just “talked about”, they actually happen!
• Competitive hourly pay rate
• Generous paid time off
• Amazing insurance benefits package
• Retirement benefits that rock – membership in PERSI (pension plan) as well as retirement savings options via 401(k) and 457 plans.

SIF values diversity and we are an equal opportunity employer. Please note that applicants need to have legal authority to work permanently in the U.S.