The Colorado Division of Insurance (DOI) regulates the insurance industry in Colorado. We help consumers by answering their questions, investigating their complaints, and helping them to understand their insurance. We regulate and monitor the insurance companies in Colorado, as well as insurance agents, making sure everyone is following the law.

This work unit will exist to assist the Division with protecting consumers by implementing and executing statutory requirements and provisions of an actuarial nature regarding rate filings and financial statement filings. This position will provide actuarial support to the Chief Actuary and to other sections of the Division. This position will assist with monitoring and regulating actuarial aspects of insurers and non-traditional insurers.

Position: SFA 4207

This position will facilitate the actuarial reviews performed by staff members by providing statistical and quantitative analysis needed in various projects. This position will assist other members of the section by performing statistical analysis and entry level actuarial review of the data included in financial statements and in rate filings. This position will also provide technical evaluations of actuarial or statistical models. This position may need to provide technical explanations of statistical issues to other Division of Insurance employees, and to other state agencies and consumers.

Duties include, but are not limited to:
  • Create statistical reports from various schedules and exhibits included in the annual financial statements, and develop inferential statistics that are related to loss and loss adjustment expense reserves, incurred expenses, and various other financial components. Position will also create statistical reports from various schedules and exhibits included in rate filings, and develop inferential statistics that are related to claims experience, federal Uniform Rate Review Templates (URRTs), and rating tables.
  • Develops an understanding of large loss models used by regulated entities for ratemaking purposes, and applies that knowledge by recommending methods of analyzing those models. Position will also develop quantitative analysis from various schedules and exhibits included in rate filings that are related to rating factors, actuarial assumptions, premium retention and profit margins, Long term care (LTC) Lifetime Loss Ratio projection calculations.
  • Participate in support of the financial exam process by performing quantitative analysis of financial metrics and data. Assists the Section manager in performing financial exams.
  • Develops statistical models and assists with research on claim cost utilization issues, such as researching costs in geographic rating areas, consumer benefit and premium issues, claim cost trends and expense trends. Facilitates internal presentation of research to senior management, builds models to support analysis of Incurred But Not Reported (IBNR) claims and Unpaid Claim Liabilities (UCLs). Assists the Section manager in developing procedures for the Division's and Section's future reviews of research models.

Minimum Qualifications, Substitutions, Conditions of Employment & Appeal Rights

Minimum Qualifications
Graduation from an accredited college or university with a bachelor's degree in statistics, statistical analysis, mathematics, economics, or in a field that includes at least six (6) credit hours of statistics coursework.

Substitutions

A combination of work experience in the occupational field or specialized subject area of the work assigned to the job, which provided the same kind, amount, and level of knowledge acquired in the required education, may be substituted on a year-for-year basis for the bachelor's degree.

A master's or doctorate degree from an accredited college or university in statistics or statistical analysis may be substituted for the bachelor's degree.

Document this experience in your application IN DETAIL, as your experience will not be inferred or assumed. Part time experience will be prorated.

Required Competencies: The following knowledge, skills, abilities, and personal characteristics are required competencies and may be considered during the selection process (including examination and/or interview):

  • Organizational skills: the ability to effectively manage multiple priorities and competing interests
  • Analytical skills: the ability to define problems precisely, identify trends, and develop multiple options for problem solution
  • Interpersonal skills: the ability to foster cooperation under potentially stressful situations with a variety of audiences including attorneys, consumers, employers, and staff; and the ability to build relationships/rapport with diverse groups
  • Initiative: the ability to take action with a minimum of guidance or prompting

Preferred Qualifications/Competencies: The following knowledge, skills, abilities, and personal characteristics are preferred competencies and may be considered during the selection process (including examination and/or interview):
  • Knowledge of healthcare rate setting and reviews;
  • Higher level experience using Microsoft Excel worksheets;
  • Knowledge and use of SERFF/rate setting tools;
Conditions of Employment: Candidates who fail to meet the conditions of employment will be removed from consideration.
  • The successful passing of a reference check.
    • A reference check may include but is not limited to: contacting previous and current supervisors to verify employment and discuss performance, a review of the personnel file, a review of the performance record, etc.
APPEAL RIGHTS:If you receive notice that you have been eliminated from consideration for the position, you may protest the action by filing an appeal with the State Personnel Board/State Personnel Director within 10 days from the date you receive notice of the elimination.

Also, if you wish to challenge the selection and comparative analysis process, you may file an appeal with the State Personnel Board/State Personnel Director within 10 days from the receipt of notice or knowledge of the action you are challenging.

Refer to Chapters 4 and 8 of the State Personnel Board Rules and Personnel Director's Administrative Procedures, 4 CCR 801, for more information about the appeals process. The State Personnel Board Rules and Personnel Director's Administrative Procedures are available at www.colorado.gov/spb.

A standard appeal form is available at: www.colorado.gov/spb. If you appeal, your appeal must be submitted in writing on the official appeal form, signed by you or your representative, and received at the following address within 10 days of your receipt of notice or knowledge of the action: Colorado State Personnel Board/State Personnel Director, Attn: Appeals Processing, 1525 Sherman Street, 4th Floor, Denver, CO 80203. Fax: 303-866-5038. Phone: 303-866-3300. The ten-day deadline and these appeal procedures also apply to all charges of discrimination.

Supplemental Information


PLEASE READ - Required Application Materials
Interested individuals must submit the following online:

1. A completed State of Colorado Application (log-in to your current NeoGov account or create a NeoGov account to complete the online application). Note: Incomplete applications, including incomplete work history sections or "see résumé," "see attachment," or "see addendum" statements, will not be accepted in lieu of a completed application form.

2. A current email address on your application, as all communication pertaining to this position will be conducted via email. Please set up your email to accept messages from info@governmentjobs.com and '@state.co.us' addresses, and check your email often. Note: The department cannot guarantee the successful delivery of email, including incorrect filtering into junk mail folders.

3. A detailed cover letter, explaining how you meet the required competencies and how your accomplishments, qualifications, skills, areas of expertise, personal characteristics, etc. make you a good fit for this position; you may also attach additional documents that demonstrate this.
Comparative Analysis Process: Structured Application Review
Part of, if not the entire, comparative analysis process for this position will involve a review of the information you submit in your application materials; Therefore, it is paramount that in the experience portion of your application and cover letter, you describe the extent to which you possess the education, experience, and competencies outlined in the job announcement as well as the required and/or preferred qualifications/competencies. You are also encouraged to attach additional documents to that effect. Failure to include adequate information or follow instructions may affect your score and prevent you from competing in subsequent measures used to arrive at a top group of applicants.

Veterans' Preference: Candidates who wish to assert Veterans' Preference should attach a copy of their DD214 to their application. Failure to do so will result in being denied Veterans Preference.

PLEASE NOTE: Former State Personnel System employees who were disciplinarily terminated or resigned in lieu of termination must disclose this information on the application. Colorado Revised Statutes require that all state employees be hired and promoted through competitive examination of merit and fitness. Failure to include the required information, failure to follow instructions, and/or failure to submit materials by the application deadline may result in your application not being considered for the position and may affect your score or inclusion in the final pool of qualified candidates.

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