Actuary - Life & Health

Class Concept

Positions in this class assemble and analyze data to estimate the probability and likely cost of the occurrence of an event such as death, sickness, injury, or disability. Positions also review clinical policy and aid in the design of benefit structures. Positions are responsible for providing consultation and professional recommendations to various divisions within an agency or department. The range of duties includes, but is not limited to, reviewing data/information and making recommendations concerning rate, rule and policy form filings; reviewing Statements of Actuarial Opinion and advising of any deficiencies; participating in rate hearings including expert witness testimony as required; conducting surveys or data calls of insurers; providing consultation and recommendations concerning proposed legislation, new insurers, and consumer-related issues; support rate setting, financial budgeting and forecasting, clinical policy and aid in the design of benefit structures, reimbursement standards and the effects of proposed practices and standards on the cost of healthcare. Positions may perform additional duties as assigned by supervisor.

Recruitment Requirements

Knowledge, Skills, and Abilities

• Considerable level of professional knowledge in Life and Health and keeps up with current developments and trends. Maintains professional credentials through meeting continuing education requirements of the American Academy of Actuaries (AAA) and the Society of Actuaries (SOA).
• Considerable knowledge of North Carolina laws and regulations as they relate to actuarial practice.
• Considerable knowledge of agency policies and practices in regard to issues arising in rate revision negotiations or rate hearings or benefit structures and rate setting for service delivery.
• Ability to effectively communicate complex information verbally and in writing; keeps coworkers and managers informed of project progress.
• Ability to prepare written reports that are clear, concise, appropriate for intended audience and well documented.
• Ability to plan and organize resources and time to meet assigned deadlines and priorities.

Minimum Education and Experience

Bachelor's degree in mathematics, business, or closely related field from an appropriately accredited institution and four years of professional actuarial experience and Associate status in the Society of Actuaries (SOA); or an equivalent combination of education and experience.