Compensation Grade: 38
Job Description
To accomplish our mission of making workers’ compensation widely available, affordable, and accessible, SAIF relies heavily on the aptitude of our actuaries. From loss reserves to capital adequacy assessments to rate recommendations, this team solves some of the company’s most complex problems and ensures pricing is fair and helps keep the Oregon workers’ comp system in balance.
As a manager on the team, you’ll not only need the skill and expertise to understand these problems, but also the people and leadership skills to apply them and communicate them in simple terms. You’ll oversee the completion of actuarial analyses while adhering to professional standards. In this role you’ll be primarily responsible for loss reserving and capital management, while collaborating extensively with our claims, finance, and data and analytic teams.
The work and environment are dynamic, fast-paced, and ripe for opportunities to make a major impact on SAIF, our customers, and the state of Oregon. You’ll need to be a member of the CAS and have leadership experience. This position is Oregon based but remote for exceptional candidates.
NOTE: This position is open to remote candidates, however, due to some state restrictions there are some locations that SAIF is not able to hire remote candidates.
Responsibilities
- Proactively identify and solve the most complex problems that impact the management and direction of the business by completing and overseeing actuarial work in the following areas:
- Development of reasonable loss and loss adjustment expense reserves.
- Preparation of various inputs to the annual and quarter financial statements and related filings and participation in regulatory audits.
- Development and filing of sound rate recommendations, maintenance of SAIF’s pricing and rate adequacy monitoring tools, conducting trend and market analysis research, and providing support and consult to Underwriting on individual account pricing and the development of technical underwriting guidelines.
- Updates to and maintenance of SAIF’s financial forecasts, dividend models, capital models, and surplus analyses. Completion of supporting documentation and communication including the Own Risk Solvency Assessment (ORSA).
- Support for SAIF’s reinsurance program and monitoring of reinsurance coverage including claim reporting, commutations, and financial reporting.
- NCCI financial data call process, including calculating any data anomalies and communicating with NCCI to explain SAIF’s data and answer questions.
- Conduct and oversee research and analysis to inform strategic priorities. Act as a strategic business partner by advising on methods and applications for actuarial analysis.
- Oversee the design and execution of data analysis, and provide support to various external and internal customers, including auditors, reinsurers, and reinsurance brokers, SAIF’s appointed actuary and staff, and SAIF’s executive leadership team and board of directors.
- Influence senior management on decisions that have an impact on business direction.
- Monitor external information sources for developments that may affect SAIF’s operations and strategies, including such areas as regional business conditions, competitors, demographics, legal or regulatory changes, and medical costs, utilization, treatment patterns and practices, medical outcomes, and healthcare policy. Assess potential impacts, and present recommendations on possible responses for management consideration.
- Stay abreast of trends and innovations in the casualty actuarial profession related to pricing, reserving, workers’ compensation, and related areas.
- Work closely with the Data & Analytics function to monitor and maintain data integrity and incorporate the use of analytics to inform decisions.
- Continued progress towards or maintenance of membership in the Casualty Actuarial Society in accordance with the guidelines established by SAIF’s Actuarial Study and Professionalism Program.
- Set clear direction and objectives that are aligned with SAIF’s vision and mission. Drive employee engagement and team effectiveness through effective communication and by creating and maintaining an environment where individuals are empowered, motivated, and where the importance of collaboration within and across divisions / teams is fully understood and encouraged. Recognize individual differences while focusing on team cohesion. Develop and sustain an inclusive collaborative team environment to support diverse team members throughout the division.
- Assist with the preparation of the actuarial operational budget, monitor expenditures throughout the year, and manage variances to ensure budgetary guidelines are met while upholding high standards of customer service excellence.
- Build a team culture in which differences are embraced. Regularly expose team members to diverse perspectives and leverage differences to strengthen workgroup performance.
- Model adaptability and consistently seek to understand other world views, perspectives, and approaches to work.
- Continually sustain the Inclusive Leadership Competencies (ILC) through the Navigator level on an annual basis.
Recommended qualifications
Experience: Eight or more years of actuarial experience, including at least two years of workers’ compensation experience, with one or more years of supervisory or significant leadership experience.
Education: Bachelor’s degree in actuarial science, mathematics, finance, economics, or a related field and membership in the Casualty Actuary Society.
Next step
To receive consideration, please submit your resume with a cover letter by the close of this recruitment. We want your submission to count, so be sure it’s complete.
This recruitment will close on Friday, March 29, 2024.
If a sufficient number of qualified applications are received this recruitment may close early.
Compensation & Benefits
Typical hiring range: $165,185 - $194,335. The pay range for this position is annually based on a full-time schedule. Actual compensation will be determined using factors such as experience, skills, training, certifications & education.
SAIF provides a wide range of benefits to employees who work at least 20 hours per week, including health care, retirement savings plans, paid time off, and more. For additional information about SAIF's total rewards, visit our website at: Total rewards (saif.com)
*Note that eligibility and cost of benefits can vary depending on the number of regularly scheduled hours, and job status such as regular full-time, regular part-time, seasonal, or temporary employment.
Full salary range: $145,750 - $242,920
Veterans
We provide preference to qualifying and disabled veterans. For more information please visit saif.com/veterans.
About us
Since 1914, SAIF has been taking care of injured workers, helping people get back to work, and keeping rates low by focusing on workplace safety. Together with our partners, we strive to make Oregon the safest and healthiest place to work.
SAIF is an Equal Opportunity Employer that values diversity in its workplace.
