Description
The Life and Health Division Actuary serves as the Office of Superintendent of Insurance (OSI) expert in the actuarially sound development and reviewing of premium rates and related contractual reimbursement provisions for life insurance, long term care insurance, prepaid health plans, dental and vision plans and other health related insurance products.
- Conducts actuarial reviews of life insurance, annuity, long term care, and health insurance product rate filings to ensure actuarial soundness of premiums and rates, and to ensure compliance with the New Mexico Insurance Code, the New Mexico Administrative Code and all applicable federal and state statutes and regulations.
- Oversees research, data review, and analysis, and prepares technical reports to monitor the insurance market and assist with developing appropriate policies.
- Perform adhoc analysis related to life insurance, annuity, long term care and health insurance to support the Life and Health Bureau.
- Assists the Examinations Bureau on financial solvency analysis of insurers as requested.
- Testifies in front of the legislature and as an expert in appeals and hearing cases.
- Stays up to date on the required continuing education and general insurance industry news and trends.
- Develops professional relationships with community stakeholders and colleagues in other states and federal agencies to expand the scope of the OSI's authority.
Requirements
Bachelor’s degree in actuarial science, Mathematics, Statistics or Economics. Other Bachelor (or higher) Degrees may be considered.
Must be a member of the Society of Actuaries and/or American Academy of Actuaries and be qualified to perform Life/Health actuarial services per the SOA/AAA qualification standards.
Associate of the Society of Actuaries (ASA) and Membership in the American Academy of Actuaries (MAAA). Compliance with the membership requirements for each professional designation.
At least 5 years of actuarial experience in the health insurance or related field.
Verbal and written communications skills to prepare effective documentation, facilitate training and development, and participate in presentations.
PC proficiency to include Word and Excel.
