Director Actuarial Services Section; Actuary IV): DORA​/Division of Insurance

Hybrid Workplace Arrangement

The position will be designated under the department’s hybrid workplace program but will require scheduled in‑office reporting as needed.

The Colorado Division of Insurance (DOI) regulates the insurance industry in Colorado. This role, the Chief Actuary and Director of the Actuarial Services Section, provides oversight of actuarial policies, procedures, and controls, performs risk analysis for rate‑setting and examinations, and ensures the financial soundness of insurers.

Salary: $9,370 – $11,240 per month; hiring salary will be set commensurate with qualifications and in compliance with the Equal Pay for Equal Work Act.

• Perform review and analysis of annual actuarial opinions, reports and memoranda.
• Discuss with consultants and provide requests for changes in reserve basis and other actuarial approvals such as reinsurance, evaluation of qualified actuary status, and examination, evaluation and application of risk‑based capital and other financial and solvency standards.
• Participate in or arrange technical professional support for financial and market conduct examinations, including reviewing compliance with rating practices, regulatory standards and actuarial reporting requirements.
• Select actuarial systems and guidelines to address financial accounting standard changes or new types of insurance.
• Determine valuation models for analyzing legislation on new types of insurance.
• Provide actuarial review and analysis of rate filings and rating plans, establishing procedures for timely review of all rate filings and actuarial portions of financial examinations.
• Assign actuarial review to analysts and consultants based on the level of complexity.
• Develop technical guidance for staff and consultants for review of new and innovative products, including cyber insurance, novel inland‑marine coverage, and under evolving actuarial standards.
• Provide guidance and consultation on actuarial issues to other agencies and industry organizations and testify at legislative or regulatory hearings.
• Manage the Actuarial Services Section, supervise interns, consultants and contractors, and oversee staff conducting actuarial analyses and reviews.

• RTD Eco Pass with office located above the RTD Civic Center station.
• Extensive work‑life programs including flexible schedules and professional development.
• Employee wellness and counseling programs.
• Bike‑to‑work program with storage lockers and bike racks.
• Flexible retirement benefits with PERA plans and optional 401(k) and 457 plans.
• Medical, dental and life insurance for employees, with optional coverage for dependents.
• Paid Time Off, 11 paid holidays.
• Short‑ and long‑term disability coverage.
• Tuition assistance program.

Option 1:
Experience

• Ten (10) years of professional actuarial experience with a regulated insurance company, consulting firm or government regulatory body.
• Minimum two (2) years of supervisory experience included within the six years of actuarial experience.

Option 2:
Education and Experience

• Associate’s degree in actuarial science, economics, finance, mathematics, statistics or a related field and eight (8) years of professional actuarial experience with a regulated insurance company or related entity.
• Minimum two (2) years of supervisory experience included within the six years of actuarial experience.

Or

• Associate’s degree plus professional experience as above; or
• Bachelor’s degree in actuarial science, economics, finance, mathematics, statistics or a related field and six (6) years of professional actuarial experience with a regulated insurance company or related entity.
• Minimum two (2) years of supervisory experience included within the six years of actuarial experience.

• Experience in quantitative analysis.
• Experience developing new processes and improving existing work methods.
• Project management experience.
• Experience researching and applying complex legislation.
• Completion of four (4) S.O.A. or C.A.S. actuarial exams.
• Experience with Principle Based Reserving (P ) and Own Risk Solvency Assessment (ORSA).
• Experience using statistical rating models such as GLMs.
• Experie…