Ohio Department of Commerce
Columbus- WC Underwriter (Actuarial)- PN:
Ohio Department of Commerce, Columbus, Ohio, United States, 43224
What You'll Be Doing:
• Reviews employer's leaving self-insured PEO's or Self Insureds returning to the state fund.
• Maintain/update/interpret monthly and quarterly MIRA/ACES reserving systems.
• Reviews reserves & assessments based on employer loss statistics.
• Prepare premium impact statements for the Attorney General's office.
• Process AC-28's and work with the Legal Department on subrogation inquiries.
What our employees have to say:
BWC conducts an internal engagement survey on an annual basis. Some comments from our employees include:
BWC has been a great place to work as it has provided opportunities for growth that were lacking in my previous place of work.I have worked at several state agencies and BWC is the best place to work.Best place to work in the state and with a sense of family and support.I love the work culture, helpfulness, and acceptance I've been embraced with at BWC.I continue to be impressed with the career longevity of our employees, their level of dedication to service, pride in their work, and vast experience. It really speaks to our mission and why people join BWC and then retire from BWC.If you are interested in helping BWC grow, please click this link to read more, and then come back to this job posting to submit your application!
At the State of Ohio, we take care of the team that cares for Ohioans. We provide a variety of quality, competitive benefits to eligible full-time and part-time employees*. For a list of all the State of Ohio Benefits, visit our Total Rewards website ! Our benefits package includes:
Medical CoverageFree Dental, Vision and Basic Life Insurance premiums after completion of eligibility periodPaid time off, including vacation, personal, sick leave and 11 paid holidays per yearChildbirth, Adoption, and Foster Care leaveEducation and Development Opportunities (Employee Development Funds, Public Service Loan Forgiveness, and more)Public Retirement Systems ( such as OPERS, STRS, SERS, and HPRS ) & Optional Deferred Compensation ( Ohio Deferred Compensation )*Benefits eligibility is dependent on a number of factors. The Agency Contact listed above will be able to provide specific benefits information for this position.
Qualifications
2 yrs. trg. or 2 yrs. exp. as underwriter for insurance organization or for agency comparable to Ohio Bureau of Workers' Compensation.
-Or completion of undergraduate core coursework in business, insurance & risk management, accounting, mathematical sciences or related field of study.
-Or equivalent of Minimum Class Qualifications for Employment noted above.
Job Skills:
Insurance
Major Work Characteristics:
Knowledge of:
(1) workers' compensation laws (e.g., Ohio Revised Code), policies & procedures regarding risk & claims administration*, (2) insurance concepts including types of insurance coverage, loss exposures, premium calculations, & collections, (3) distribution & classification of risk, (4) risk management concepts (e.g., identifying & analyzing loss exposures) & risk management techniques, (5) National Council of Compensation Insurers manual classifications*, (6) loss control methods (e.g., DFSP, Group Rating, Retrospective Rating)*, (7) economic environment (e.g., inflation & discount rates) & impact on pricing of workers' compensation premiums*, (8) accounting or business administration, (9) reserve methodology & it's use as a claims management tool (e.g. MIRA), (10)different types of compensation (indemnity) awarded in claims, (11) the State Insurance Fund & related funds, (12) Self Insured Assessments*, (13) Self Insured Mandatory, Rehabilitation & Handicap Funds*, Self Insured Employer Guaranty Fund (SIEGF)*, Self Insured Surety Bond Fund (SBF)*, Self Insured Receipts & Expenditures Reports (e.g., Collections & Disbursements for Mandatory, Rehabilitation, SIEGF, SBF & Handicap Funds)*, Self Insured Disallowed Claims Reimbursements*, (19)Self Insured Reported Compensation (used as basis for Self Insured Assessments)*, Self Insured Security Reductions, Reverse Buyouts, & Bankruptcy Reserves*, (14) organizational and audit techniques (i.e., workflow analysis, project planning concepts & accounting systems).
Skill in:
(1 )use of personal computer & peripheral equipment (e.g., fax, scanner, printer), (2) use of Microsoft Excel, (3) use of Microsoft Access*, (4) use of BWC software (e.g., Rates & Payments, Power Suite)*, (5) use of statistical analysis (e.g., statistics to assist in analyzing data), (6) use of project planning software*.
Ability to:
(1) define problems, collect data, establish facts, draw valid conclusions, (2) complete problem solving steps (i.e., identify the issue, create alternatives, analyze alternatives, select best alternative, implement, & modify as necessary), (3) review & interpret technical information (e.g. actuarial, statistical & insurance technical information),(4) gather, collate & classify information about data, people or things, (5) add, subtract, multiply and divide whole numbers,(6) organize statistics into meaningful form for analysis, (7) calculate fractions, decimals & percentages, (8) respond to sensitive inquiries from employers & the general public, (9) create formulas & queries using Microsoft Excel & Access, (10) use proper research methods to gather data, (11)work well with other departments, (12) graph information, (13) track projects, (14) manage time.
• Reviews employer's leaving self-insured PEO's or Self Insureds returning to the state fund.
• Maintain/update/interpret monthly and quarterly MIRA/ACES reserving systems.
• Reviews reserves & assessments based on employer loss statistics.
• Prepare premium impact statements for the Attorney General's office.
• Process AC-28's and work with the Legal Department on subrogation inquiries.
What our employees have to say:
BWC conducts an internal engagement survey on an annual basis. Some comments from our employees include:
BWC has been a great place to work as it has provided opportunities for growth that were lacking in my previous place of work.I have worked at several state agencies and BWC is the best place to work.Best place to work in the state and with a sense of family and support.I love the work culture, helpfulness, and acceptance I've been embraced with at BWC.I continue to be impressed with the career longevity of our employees, their level of dedication to service, pride in their work, and vast experience. It really speaks to our mission and why people join BWC and then retire from BWC.If you are interested in helping BWC grow, please click this link to read more, and then come back to this job posting to submit your application!
At the State of Ohio, we take care of the team that cares for Ohioans. We provide a variety of quality, competitive benefits to eligible full-time and part-time employees*. For a list of all the State of Ohio Benefits, visit our Total Rewards website ! Our benefits package includes:
Medical CoverageFree Dental, Vision and Basic Life Insurance premiums after completion of eligibility periodPaid time off, including vacation, personal, sick leave and 11 paid holidays per yearChildbirth, Adoption, and Foster Care leaveEducation and Development Opportunities (Employee Development Funds, Public Service Loan Forgiveness, and more)Public Retirement Systems ( such as OPERS, STRS, SERS, and HPRS ) & Optional Deferred Compensation ( Ohio Deferred Compensation )*Benefits eligibility is dependent on a number of factors. The Agency Contact listed above will be able to provide specific benefits information for this position.
Qualifications
2 yrs. trg. or 2 yrs. exp. as underwriter for insurance organization or for agency comparable to Ohio Bureau of Workers' Compensation.
-Or completion of undergraduate core coursework in business, insurance & risk management, accounting, mathematical sciences or related field of study.
-Or equivalent of Minimum Class Qualifications for Employment noted above.
Job Skills:
Insurance
Major Work Characteristics:
Knowledge of:
(1) workers' compensation laws (e.g., Ohio Revised Code), policies & procedures regarding risk & claims administration*, (2) insurance concepts including types of insurance coverage, loss exposures, premium calculations, & collections, (3) distribution & classification of risk, (4) risk management concepts (e.g., identifying & analyzing loss exposures) & risk management techniques, (5) National Council of Compensation Insurers manual classifications*, (6) loss control methods (e.g., DFSP, Group Rating, Retrospective Rating)*, (7) economic environment (e.g., inflation & discount rates) & impact on pricing of workers' compensation premiums*, (8) accounting or business administration, (9) reserve methodology & it's use as a claims management tool (e.g. MIRA), (10)different types of compensation (indemnity) awarded in claims, (11) the State Insurance Fund & related funds, (12) Self Insured Assessments*, (13) Self Insured Mandatory, Rehabilitation & Handicap Funds*, Self Insured Employer Guaranty Fund (SIEGF)*, Self Insured Surety Bond Fund (SBF)*, Self Insured Receipts & Expenditures Reports (e.g., Collections & Disbursements for Mandatory, Rehabilitation, SIEGF, SBF & Handicap Funds)*, Self Insured Disallowed Claims Reimbursements*, (19)Self Insured Reported Compensation (used as basis for Self Insured Assessments)*, Self Insured Security Reductions, Reverse Buyouts, & Bankruptcy Reserves*, (14) organizational and audit techniques (i.e., workflow analysis, project planning concepts & accounting systems).
Skill in:
(1 )use of personal computer & peripheral equipment (e.g., fax, scanner, printer), (2) use of Microsoft Excel, (3) use of Microsoft Access*, (4) use of BWC software (e.g., Rates & Payments, Power Suite)*, (5) use of statistical analysis (e.g., statistics to assist in analyzing data), (6) use of project planning software*.
Ability to:
(1) define problems, collect data, establish facts, draw valid conclusions, (2) complete problem solving steps (i.e., identify the issue, create alternatives, analyze alternatives, select best alternative, implement, & modify as necessary), (3) review & interpret technical information (e.g. actuarial, statistical & insurance technical information),(4) gather, collate & classify information about data, people or things, (5) add, subtract, multiply and divide whole numbers,(6) organize statistics into meaningful form for analysis, (7) calculate fractions, decimals & percentages, (8) respond to sensitive inquiries from employers & the general public, (9) create formulas & queries using Microsoft Excel & Access, (10) use proper research methods to gather data, (11)work well with other departments, (12) graph information, (13) track projects, (14) manage time.