Worker's Compensation Pricing Associate Actuary

4 weeks ago

Livonia, United States Compensation Advisory Organization of Michigan Full time $126,600
Job DescriptionJob Description

About the Job

Under limited supervision and with significant independent judgment, applies knowledge of actuarial sciences, mathematics, probability, statistics, principles of finance and business to problems in workers compensation insurance by performing the following duties.

Role and Responsibilities

  • Development of pure premium (rate) indications.
  • Development of classification pure premiums (rates) and other rating values.
  • Maintain and update Individual Risk Rating Plans (IRRP).
  • Participation in committee discussions, including peer review of DCA pure premiums.
  • Prepare the voluntary premium publication and the assigned risk rate filing.
  • May serve as a supervisor of one or more support staff, including but not limited to: training and coaching staff, prepare and review performance evaluations, communicate goals, and develop operational plans and procedures.

Qualifications and Education Requirements

  • Minimum: Bachelor’s degree from four-year College or university; or four to six years related experience and/or training; or equivalent combination of education and experience.
  • Associate designation from the Casualty Actuarial Society, and five or more years related experience and/or training, or equivalent combination of education and experience.
  • Must be fluent in SQL and one or more of the following programming languages: R, Python, or SAS.
  • Advanced knowledge of MS-Excel or related analytical software.
  • Collaborative, positive, energetic team player.
  • Strong, effective, written and verbal communication skills.
  • Good judgement and business acumen.
  • Motivated, self-directed work ethic, willing to aggressively pursue individual and team goals.

Salary begins at $126,600 and is commensurate with experience. 

Company DescriptionCAOM is a private, non-profit association of insurance companies that write workers’ compensation insurance in Michigan. CAOM collects, processes and analyzes worker’s compensation policy and claim data for member companies and state regulators. CAOM’s sister organization, the Michigan Workers’ Compensation Placement Facility, processes worker’s compensation coverage applications for businesses that are unable to get coverage by ordinary means due to high claim activity, high risk operations, or other reasons. Established by state statute in 1983 and funded by its member insurance carriers, CAOM is the sole organization responsible for these duties in Michigan, resulting in a uniquely stable work environment regardless of economic fluctuation. CAOM’s small number of employees (less than 35) provide a family-like atmosphere and are consistently recognized for outstanding customer service.
CAOM is an equal opportunity employer, offering active full-time employees a highly competitive benefit package, including but not limited to, paid time off, paid personal time, paid holidays, insurance (medical, dental, vision, life), a company-sponsored retirement plan, training, and educational opportunities. Once respective seasoning requirements are met, new hires are eligible for these benefits and any other benefits CAOM may adopt.Company DescriptionCAOM is a private, non-profit association of insurance companies that write workers’ compensation insurance in Michigan. CAOM collects, processes and analyzes worker’s compensation policy and claim data for member companies and state regulators. CAOM’s sister organization, the Michigan Workers’ Compensation Placement Facility, processes worker’s compensation coverage applications for businesses that are unable to get coverage by ordinary means due to high claim activity, high risk operations, or other reasons. Established by state statute in 1983 and funded by its member insurance carriers, CAOM is the sole organization responsible for these duties in Michigan, resulting in a uniquely stable work environment regardless of economic fluctuation. CAOM’s small number of employees (less than 35) provide a family-like atmosphere and are consistently recognized for outstanding customer service. \r
CAOM is an equal opportunity employer, offering active full-time employees a highly competitive benefit package, including but not limited to, paid time off, paid personal time, paid holidays, insurance (medical, dental, vision, life), a company-sponsored retirement plan, training, and educational opportunities. Once respective seasoning requirements are met, new hires are eligible for these benefits and any other benefits CAOM may adopt.

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