LifeShield National Insurance Co is seeking an experienced Actuary Associate to work from our office in Oklahoma City.
The Actuary Associate provides support for the actuarial work required by the state laws and regulations. As a member of our actuarial team, the position will support efforts to gather data and perform studies to measure the value of the business and how that value changes over time. The ideal candidate will be willing to learn the design and pricing of supplemental accident, health insurance, and group life insurance and also understand the Statutory valuations.
Responsibilities include:
- Data Analysis and Reporting: Collect and analyze data to assess risk and evaluate the financial implications of different insurance policies. Prepare reports and presentations summarizing findings.
- Rate Adjustment Filing: Preparation of necessary correspondence and actuarial exhibits for rate filings and other regulatory filings for more than 30 states monthly.
- Create Special Billing & Letters: Support and document billing details as needed for special cases when unique circumstances require documentation or correction to billing calculations not currently programmed into our production systems (QLAdmin). Verify and monitor rate increase letters through QLAdmin, and ensure communication letters to policyholders are accurate and distributed punctually.
- New Business Reports: Develop data and assist in report preparation for new business produced, as required by various business units, senior management, and regulatory authorities. Analyze experience and trends, provide reports for actuaries, and effectively communicate findings.
- Rate Implementation: Assist Actuaries in implementing, verifying, and monitoring rates as they get approved by state insurance departments. Assist in loading approved rates by state insurance departments into our production system. Test rates to ensure accuracy of the data entered before submitting for approval.
- New Plans/Rates Input & Testing: Perform testing on new products by setting up plan codes, plan documents, and rates. Validate test policies, identify and resolve errors as needed. Continue monitoring upon launching of new products and resolve issues as they arise.
Position Requirements:
Interested candidates must possess actuarial/mathematical or statistical knowledge, as well as demonstrated ability to prepare and analyze complex actuarial reports to be considered. Additionally, a Bachelor’s degree in Actuarial Science, Mathematics, or a related field is required. Preference will be given to candidates who already have or are working toward an Associate Society of Actuaries designation.
Additional requirements include:
- Demonstrated ability to apply real-world applications to business needs.
- Critical problem-solving skills.
- Ability to act and work independently.
- Familiarity with MS Excel and Access.
- Familiarity with SQL and VBA.
Candidates should also have the desire to stay current on trends in the supplemental product through professional development & continuing education and develop the skills to be able to translate those trends into actionable strategic and tactical objectives for the company.
We value diversity and strive to be an employer of choice as an Equal Opportunity Employer.
Industry: Insurance & Financial Services
Employment Type: Full-time
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