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

Chief Actuary – Division of Insurance

Department:
Colorado Division of Insurance (DOI). The role is part of the Actuarial Services Section, responsible for oversight of actuarial policies, risk analysis, rate‑setting, and examinations related to insurance regulation.

Salary: $9,370 – $11,240 monthly, commensurate with qualifications and in compliance with the Equal Pay for Equal Work Act.

Hybrid Workplace Arrangement: The position is part of the hybrid program. Employees must report to the department office on a scheduled basis and at the discretion of the supervisor based on business need.

• Perform review and analysis of annual actuarial opinions, reports, and memoranda.
• Engage with in‑house and independent consultants, providing requests for changes in reserve basis, reinsurance, and risk‑based capital (RBC) analysis.
• Participate in technical support for financial and market‑conduct examinations, including compliance with rating practices and actuarial reporting requirements.
• Select actuarial systems and guidelines to address financial accounting standard changes and new insurance products (cyber, sharing economy, long‑term care, etc.).
• Determine valuation models for legislative studies on new types of insurance.
• Review and analyze rate filings and rating plans, establishing procedures for timely review of all actuarial portions of each filing.
• Assign actuarial review complexity to analysts and technical consultants.
• Provide technical guidance for staff and consultants on new products and innovative coverage scenarios.
• Give guidance and testimony to other agencies and industry organizations on actuarial issues.
• Supervise interns, consultants, contractors, and staff performing actuarial analyses and reviews of regulated entities.

• Ten (10) years of professional actuarial experience with a regulated insurance company, consulting firm, or government regulator; at least two (2) of those years must be supervisory.
• Alternative:
  Eight (8) years of professional experience with a regulated insurance company, consulting firm, or government regulator; at least two (2) years supervisory; and an associate’s degree in actuarial science, economics, finance, mathematics, statistics, or related field.
• Alternative:
  Six (6) years of professional experience with a regulated insurance company, consulting firm, or government regulator; at least two (2) years supervisory; and a bachelor’s degree in actuarial science, economics, finance, mathematics, statistics, or related field.

• Quantitative analysis experience.
• Process improvement and project management experience.
• Experience researching and applying complex legislation.
• Completion of four (4) SOA or CAS actuarial exams.
• Experience with Principle‑Based Reserving (P ) and Own Risk Solvency Assessment (ORSA).
• Experience with GLMs, predictive modeling, statistical programming (R, Python, SAS), and data architecture.

• Written and verbal communication skills.
• Attention to detail, critical thinking, and analytical skills.
• Prioritization, time management, and organizational skills.
• Ethical judgment, integrity, confidentiality, and accountability.
• Ability to travel up to 10% of the time.
• Proficiency in Microsoft Office and Google Suite.

• RTD Eco Pass and convenient transit location.
• Flexible schedules, training, and professional development opportunities.
• Health, dental, and life insurance for employees; optional coverage for dependents.
• Retirement benefits: PERA Defined Benefit Plan or Defined Contribution Plan and optional 401(k) and 457 plans.
• Paid time off including 11 paid holidays.
• Short‑ and long‑term disability coverage.
• Tuition assistance program.
• Employee wellness programs including the Colorado State Employee Assistance Program (CSEAP).
• Bike‑to‑work program with lockers and racks.

The State of Colorado is committed to equal opportunity and hiring based on merit and fitness. All qualified individuals are encouraged to apply.