Workers' Compensation Insurance Rating Bureau of California
Lead Actuarial Analyst or Actuary - Hybrid
Workers' Compensation Insurance Rating Bureau of California, Oakland, CA
The WCIRB is looking for an experienced Lead Actuarial Analyst or Actuary interested in having a critical role in the WCIRB's actuarial functions. This position will be directly involved in the WCIRB's core ratemaking and data analysis functions with opportunities for growth, independence, and external communication.
The Workers' Compensation Insurance Rating Bureau of California (WCIRB) is California's trusted, objective provider of actuarially-based information and research, advisory pure premium rates, and educational services integral to a healthy workers' compensation system. The WCIRB is a California unincorporated, private, nonprofit association comprised of all companies licensed to transact workers' compensation insurance in California, and has over 400 member companies. No state money is used to fund its operations. The operations of the WCIRB are funded primarily by membership fees and assessments.
To accurately measure the cost of providing workers' compensation benefits, the WCIRB performs a number of functions, including collection of premium and loss data on every workers' compensation insurance policy, examination of policy documents, inspections of insured businesses, and test audits of insurer payroll audits and claims classification.
The WCIRB employs approximately 175 people. The home office is located in Oakland, California.
Depending upon the qualifications and experience of the applicant, the hiring manager may elect to fill this position at the Lead Actuarial Analyst (with growth potential) or Actuary level. The job description that follows is for the Actuary level.
Salary Information
Lead Actuarial Analyst: $124,000.00 - $156,00.00
Actuary: $153,000.00 - $196,000.00
Summary
The Actuary works closely with the Vice President, Actuary to assist in leading the various actuarial functions of the WCIRB with particular emphasis on core ratemaking and data collection processes, external Committee processes, and actuarial communications.
Essential Duties and Responsibilities
Education, Experience, and Skill Qualifications
Perks & Benefits
Our employees enjoy a state of the art, energy-efficient, open work environment that nurtures collaboration and creativity. At the WCIRB, we go the extra mile to keep our employees happy and healthy. Our perks include:
Please note that the WCIRB has enacted a mandatory COVID-19 vaccine requirement for all employees. Proof of full vaccination or an approved exemption or deferral is required of all employees, including new hires.
The Workers' Compensation Insurance Rating Bureau of California (WCIRB) is California's trusted, objective provider of actuarially-based information and research, advisory pure premium rates, and educational services integral to a healthy workers' compensation system. The WCIRB is a California unincorporated, private, nonprofit association comprised of all companies licensed to transact workers' compensation insurance in California, and has over 400 member companies. No state money is used to fund its operations. The operations of the WCIRB are funded primarily by membership fees and assessments.
To accurately measure the cost of providing workers' compensation benefits, the WCIRB performs a number of functions, including collection of premium and loss data on every workers' compensation insurance policy, examination of policy documents, inspections of insured businesses, and test audits of insurer payroll audits and claims classification.
The WCIRB employs approximately 175 people. The home office is located in Oakland, California.
Depending upon the qualifications and experience of the applicant, the hiring manager may elect to fill this position at the Lead Actuarial Analyst (with growth potential) or Actuary level. The job description that follows is for the Actuary level.
Salary Information
Lead Actuarial Analyst: $124,000.00 - $156,00.00
Actuary: $153,000.00 - $196,000.00
Summary
The Actuary works closely with the Vice President, Actuary to assist in leading the various actuarial functions of the WCIRB with particular emphasis on core ratemaking and data collection processes, external Committee processes, and actuarial communications.
Essential Duties and Responsibilities
- Analyzes data for rate filings, including identifying trends or cost drivers, for submission to the California Department of Insurance.
- Prepares and presents actuarial analyses for internal and external stakeholders, such as WCIRB internal teams, WCIRB external committees and working groups, WCIRB member insurers, regulators, and other organizations.
- Prepares actuarial communications, such as methodology reviews, actuarial analysis reports, and written components of rate filings.
- Formulates and leads studies pertaining to the ratemaking process.
- Reviews bills introduced to the State Legislature to determine their affect upon workers' compensation insurance.
- Leads aspects of WCIRB external committee and working group discussions.
- Develops databases and conducts analyses in support of special studies and projects.
- Coordinates and leads team projects within Actuarial Services and cross-functional projects with other WCIRB teams.
- Peer reviews actuarial analyses conducted by others.
- Supervises actuarial analysts in various aspects of analyses.
- Maintains contacts with relevant outside organizations.
Education, Experience, and Skill Qualifications
- Bachelor's degree or above in a technical field such as mathematics, actuarial science, statistics, or economics.
- At least five years' experience as an actuary or senior actuarial analyst in a casualty insurance company, rating organization, consulting firm, or a state insurance department, with workers' compensation experience strongly preferred.
- Fellow of the Casualty Actuarial Society (CAS). (For Lead Actuarial Analyst: Associate of the CAS is required).
- Effective and demonstrated ability to write actuarial reports for both technical and non-technical audiences.
- Ability to present actuarial findings and communicate an appropriate understanding of actuarial processes to both technical and non-technical audiences.
- Ability to render sound and objective administrative and technical decisions and support them.
- The ability to develop a complete theoretical framework with precisely defined relationships.
- Excellent listening and interpersonal skills.
- Strong proficiency in Microsoft Excel, SQL, and a statistical programming language such as R or Python.
- Ability to project positive self-image and credibility to others.
- Excellent project leadership and time management skills.
- Very strong mathematical skills.
- Very strong peer review skills.
Perks & Benefits
Our employees enjoy a state of the art, energy-efficient, open work environment that nurtures collaboration and creativity. At the WCIRB, we go the extra mile to keep our employees happy and healthy. Our perks include:
- Hybrid work environment (40% onsite 60% remote)
- Medical, dental and vision benefits
- Competitive PTO Program
- 401K and pension plan
- Annual incentive plan
- Social activities
- Community volunteer involvement
Please note that the WCIRB has enacted a mandatory COVID-19 vaccine requirement for all employees. Proof of full vaccination or an approved exemption or deferral is required of all employees, including new hires.