What are the responsibilities and job description for the Life and Health Actuary & Property and Casualty Actuary position at State of Alaska?
Salary : $4,899.75 Biweekly
Location : Juneau, AK
Job Type : Full Time
Job Number : 47155
Department : Commerce, Community, and Economic Development
Division : Insurance
Opening Date : 08 / 30 / 2024
Division : Insurance
Position Open To : All Applicants
Bargaining Unit : Exempt
Range : 28
Job Description
The Department of Commerce, Community and Economic Development,
Division of Insurance, is recruiting for a Property & Casualty and Life and Health Actuary
Under the general direction of the Director, this position will serve as the Actuary in our Juneau office. This position will provide technical actuarial support for issues involving property and casualty insurance or life and health insurance, including the review of premium rates for use in Alaska, and financial analyses of insurer solvency and reserve adequacy.
Duties of this position include but are not limited to :
The Actuary position is stationed in our Juneau office, though telework options are available for incumbents domiciled elsewhere. Candidates should have at least five years of actuarial experience with a solid understanding of insurance policy rate and form filing review within the context of the state-based regulatory system. Experience reviewing or preparing actuarial aspects of personal and commercial lines insurance, annuity, and reinsurance product filings is helpful.
- Review rates, forms, and rules for all property and casualty plans for life and healthcare plans for compliance with Alaska and federal statutes and regulations.
- Verify trend, experience, utilization and other criteria submitted by companies to support their rate filing(s).
- Interact with insurance companies to expedite the rate filing evaluation process.
- Provide technical expertise to other division staff, including the director and filing analysts.
- Perform policy analysis, market research, and data collection.
- For the Property and Casualty Actuary position : Take lead role in formulating, drafting, implementing, and monitoring legislation and regulation on health insurance, life, annuity, disability income and long term care insurance, and other insurance-related issues.
- Monitor and analyze state and federal studies and proposals; and make recommendations to the director.
- Analyze data, preparing reports, and presenting information to a variety of audiences including members of the industry regulated by the Division of Insurance.
- Formulate and interpret statistical data.
- Evaluate insurer operations.
- Provide technical support for financial examinations of companies and producers.
- Respond to inquiries and requests for information from division staff, the public, other state agencies, state insurance departments, and the legislature.
- Attend continuing education seminars; participate in webinars and conference calls to keep informed of state and national trends, statutes, and regulations.
- Participate on National Association of Insurance Commissioners (NAIC) task forces and working groups.
- Draft laws and regulations, often as the director's designee; and prepare issue papers, actuarial guidelines, handbooks, and compliance manuals.
- Travel to such locations and with such frequency as the director deems necessary or desirable. Position may require overnight, out-of-town travel at least three times each year.
Our successful candidate will also possess some or all of the following knowledge, skills and abilities (KSA's). Please document your level of skill and / or experience with each item on this list in your attached, professional cover letter. Applicants are not required to have experience in every area. If you do not have experience with a particular trait, simply say so.
More information about our division may be found on our website at http : / / insurance.alaska.gov
Minimum Qualifications
Minimum Qualifications for the Property and Casualty Actuary :
Bachelor's degree in Actuarial Science, Mathematics, Statistics, or similar degree from an accredited college or university. Five to seven years' actuarial experience. Experience reviewing or preparing property and casualty insurance rate filings is mandatory. Incumbent should have solid working understanding of actuarial concepts for all property and casualty products.
Licenses, Certificates, registrations :
Designation of Associate from the Casualty Actuarial Society and membership in the American Academy of Actuaries required.
Minimum Qualifications for the Life and Health Actuary :
Bachelor's degree in Actuarial Science, Mathematics, Statistics, or similar degree from an accredited college or university. Five to seven years' actuarial experience. Experience reviewing or preparing healthcare insurance rate filings is mandatory, and experience reviewing life insurance, annuity, disability income insurance, and / or long-term care insurance product filings would be beneficial. Solid working understanding of actuarial concepts for all life and health products, including but not limited to, pricing and valuation and non-forfeiture concepts, requirements, and actuarial standards.
Licenses, Certificates, registrations :
Designation of Associate from the Society of Actuaries and membership in the American Academy of Actuaries required.
Additional Required Information
This Position is Exempt and is Not in the Classified Services :
Exempt positions / employees are excluded from title 39, Chapter 25, State Personnel Act and the Personnel Rules adopted under it.
Please attach a separate, professional cover letter to your application / resume before submitting it online or, if unable to attach to your application, fax it to the contact number provided in the job posting.
Your cover letter should :
Your cover letter will be used to help determine which applicants will advance to the interview phase of the recruitment and selection process.
Your professional cover letter will also be used as a writing sample. Documents Needed at the Time of Interview :
If you are selected to advance to the interview phase of the recruitment process, you must provide the following at the time of the interview (if not already attached to your resume) :
Special Requirement of this Position : This position may require travel. EEO Statement : The State of Alaska complies with Title I of the Americans with Disabilities Act (ADA). Individuals with disabilities, who require accommodation, auxiliary aides or services, or alternative communication formats, please call 1-800-587-0430 or (907) 465-4095 in Juneau or TTY : Alaska Relay 711 or 1-800-770-8973 or correspond with the Division of Personnel & Labor Relations at : P.O. Box 110201, Juneau, AK 99811-0201. The State of Alaska is an equal opportunity employer.
Contact Information
To Apply :
Interested applicants may submit their resume and cover letter to
Contact Information :
If you have specific questions regarding the position, please contact the hiring manger directly :
Hiring manager : Kelli Patterson
Phone number : (907) 465-2596
Fax number : (907) 465-3422
Email address :
Careers with the State of Alaska offer MANY benefits
The following information describes typical benefits available to employees of the State of Alaska. Actual benefits received may differ by bargaining unit or branch of government, position type, or be prorated for other than full time work.
For a quick breakdown of the insurance, health, and retirement benefits available for State Employees you can view an (Please note this video is specifically designed for new State Employees.)
Insurance Benefits
The following employee groups are under AlaskaCare Benefits administered by the State : See for additional information.
AVTEC
General Government
Optional Insurance Benefits
Term life (employee, spouse or qualified same sex partner, and dependents)
Retirement Benefits
See for additional information
Paid Leave & Other Benefits
This position may require travel, perhaps for up to a week at a time. Are you willing and able to travel as needed for this position?
Required Question
Salary : $4,900