Mission Statement:
The mission of the State of South Carolina Department of Insurance is to protect the insurance consumers, the public interest, and the insurance marketplace by ensuring the solvency of insurers; by enforcing and implementing the insurance laws of the State; and by regulating the insurance industry in an efficient, courteous, responsive, fair, and equitable manner. For more information about working at the SC Department of Insurance, please visit Department of Insurance, SC - Official Website | Official Website

This position is located in the Office of Actuarial and Market Services.

Job Purpose:
Under limited supervision this position, serves as the Department's Life, Accident, and Health Actuary. Serves as consultant to the Department and to other state agencies on complex actuarial matters and other insurance related issues. Analyzes and evaluates insurance plans, rates, and practices and interprets law governing life, accident, and health insurance. Monitors the National Association of Insurance Commissioners, life, accident, and health insurance markets, including alternative markets, and keeps the Department abreast of emerging issues. Recommends, drafts, and testifies upon any related legislative changes.

Job Functions:

• Serves as a consultant to the department and other state agencies on complex actuarial matters and other insurance-related issues, including but not limited to issues related to product design, rating, valuation and reserves, non-forfeiture, and life, accident, and health insurance, as well as reinsurance, alternative, and residual markets.
• Analyzes and evaluates insurance plans, rates, and practices and interprets laws governing life, accident, and health insurance. Reviews requests for significant rate increases. Develops tentative credit accident and health insurance rates. Assists with projects involving data calls.
• Monitors insurance, reinsurance, alternative, and residual markets, as well as the activities of the National Association of Insurance Commissioners, particularly those related to life, accident, and health issues. Briefs the department's executive staff on emerging issues. Recommends, drafts, and testifies on legislative changes.
• Reviews reinsurance contracts for compliance with risk transfer and related laws. Reviews actuarial opinions and related items in the annual statements of domestic life, accident, and health companies, including captives. Performs or coordinates the performance of examinations of reserves and related actuarial items for domestic life, accident, and health insurers. Reviews actuarial aspects of applications for admission for domestic life, accident, and health insurers, including captives.
• Performs other duties as required by the Director and/or Deputy Director of Actuarial and Market Services

Ability to evaluate various aspects of insurance contracts, including the appropriateness of rates and related practices. Ability to evaluate complex insurance arrangements, including insurance and reinsurance agreements, financial statements, including reserves and related items, and actuarial studies. Ability to comprehend and evaluate evolving issues in the insurance markets, including complex actuarial issues, and to assess necessary program and/or legislative changes. Ability to communicate effectively.

Must have (or be able to gain) a knowledge of South Carolina statutes pertaining to life, accident, health and credit insurance and financial solvency as well as knowledge of the Affordable Care Act.
Excellent oral and written communication skills are required.

Employee receives direction from the Deputy Director of Actuarial and Market Services. Employee performs assigned duties independently, exercising sound judgment and discretion.
Employee must be able to operate a personal computer and other office equipment.
Some overnight travel may be required.

Educational Credentials:
Applicants indicating college credit or degree(s) on the application will be required to submit a sealed, certified copy of the transcript(s) prior to beginning employment. Failure to produce an official, certified transcript will result in any conditional offer of employment being rescinded.

Equal Opportunity Employer:
It is the policy of the South Carolina Department of Insurance to provide equal employment opportunities to all job applicants and employees and applicants without regard to their race, color, religion, national origin, sex (including, but not limited to, pregnancy, childbirth or related medical conditions and lactation), disability or age.

Veteran Preference Statement:
South Carolina is making our Veterans a priority for employment in state agencies and institutions.

The Department of Insurance offers an exceptional benefits package for FTE positions that includes:

• Health, Dental, Vision, Long Term Disability, and Life Insurance for Employee, Spouse, and Children
• 15 days annual (vacation) leave per year
• 15 days sick leave per year
• 13 paid holidays
• State Retirement Plan and Deferred Compensation Programs
• Employee Assistance Program
  • Free counseling sessions for employees and household members
  • Free legal counseling
  • Free financial counseling
• Flexible Work Schedules
  • Compressed work weeks
  • Part-time telecommuting
  • Flex-time
• Free Gym Access
• Growth Opportunities
  • Certifications/designation program allowing for salary increases and bonuses
• Infants at Work Program
  • Employees eligible to bring their newborn/infant to the workplace
• Free Garage Parking

Disaster Response:
This position is considered essential in the event of an emergency or major disaster. Incumbent is required to participate in emergency or major disaster response activities as outlined in the DOI Disaster Response Plan. During such times, the incumbent should regard himself/herself as being on 24-hour call and subject to duty when such an event occurs or is anticipated to occur.