Supervising Actuary Casualty

New York State Department of Financial Services

The Department of Financial Services (DFS) is seeking candidates for the position of Supervising Actuary Casualty. Under the general direction of a Chief Actuary Casualty, the incumbent will be responsible for obtaining and performing reasonability checks on actuarial data sources utilized in actuarial analyses. Other duties will include, but not be limited to, the following:

• Obtains and performs reasonability checks on actuarial data sources utilized in actuarial analyses. Coordinates with Examiners to validate and/or re-construct the data reconciliation from internal and/or external sources (i.e. CPA reports, SOX documents);
• Coordinates with Examiners and Analysts to perform risk focused in-house actuarial analyses for moderate-high to high risk Property/Casualty companies in accordance with the NAIC accreditation standards; provides reserve recommendations which are supported by appropriate documentation; provides oral and/or written defense of actuarial findings with respect to loss and loss adjustment expense reserves, as needed;
• Identifies, develops and/or implements new actuarial techniques/methods, new computer templates and databases and new work flow procedures and guidelines to conduct risk focused actuarial analyses in compliance with the current NAIC standards and practices;
• Reviews actuarial opinion documents, the actuarial aspects of reinsurance agreements and other statutory documents requires actuarial review;
• Supervises and trains subordinate members of the unit in intermediate and advanced actuarial techniques used in reserve reviews, general work procedures, usage of related computer systems and other relevant items as needed;
• Instructs Examiners regarding reconciliation of the actuarial data underlying the analyses and any other related examination tasks requires knowledge of the actuarial functions;
• Keeps abreast of regulatory and actuarial industry changes which impact actuarial and accounts practices and procedures and any new systems/templates which would improve functionality and efficiency; recommends software updates and computer trains for in-house staff;
• Acts as Project Manager to monitor outsourced contracts to consultants performs actuarial rate and reserve analyses;
• Performs all aspects of bidder selection, contract and work plan development, and oversight of expense and status reports; ensures all work performed adheres to professional standards and Department policies and procedures;
• Coordinates with consultant throughout the project and reviews and critiques outsourced actuarial reports submitted by consultant actuaries as well as other statutory documents;
• Recommends reserve indications and relevant findings;
• Performs research in connection with ratemaking principles and analyzes insurance data;
• Supervises the review and analysis of rate filings including, but not limited to, automobile, medical malpractice and Workers Compensation; reviews and analyzes innovative and complex filings;
• Supervises and trains lower level actuarial staff in the review process for rate and rule filings, and in conducts actuarial analyses;
• Develops and maintains rate review software intrinsic to reviews private passenger automobile rate filings;
• Supervises preparation of exhibits and PowerPoint presentations as needed for speeches, reports, and other public information requests;
• Leads the actuarial team to address the statutory mandates regards approval of individual Workers Compensation rate submissions;
• Represents DFS at hearings and court proceedings, as well as in meetings with internal personnel, insurance companies, sister state agencies, NAIC committees and the general public;
• Performs special projects as needed; and
• Assists in prepares testimony to be used at Department hearings and/or court proceedings, when necessary.

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