Job Description

Job Description

Lead Actuarial Analyst

The WCIRB is looking for an experienced Lead Actuarial Analyst i nterested in having a critical role in the WCIRB’s actuarial functions. This position will be directly involved in the WCIRB’s core ratemaking and data analysis functions with opportunities for growth, independence, and external communication.

The Workers' Compensation Insurance Rating Bureau of California (WCIRB) is California's trusted, objective provider of actuarially-based information and research, advisory pure premium rates, and educational services integral to a healthy workers' compensation system. The WCIRB is a California unincorporated, private, nonprofit association comprised of all companies licensed to transact workers' compensation insurance in California, and has over 400 member companies. No state money is used to fund its operations. The operations of the WCIRB are funded primarily by membership fees and assessments.

To accurately measure the cost of providing workers' compensation benefits, the WCIRB performs a number of functions, including collection of premium and loss data on every workers' compensation insurance policy, examination of policy documents, inspections of insured businesses, and test audits of insurer payroll audits and claims classification.

The WCIRB employs approximately 175 people. The home office is located in San Francisco, California.

Summary of Position

The Lead Actuarial Analyst is responsible for (1) leading various complex actuarial analyses and core projects, (2) supervising and maintaining data collection processes, and (3) providing input and insight regarding trends, cost drivers, and other key components of the WCIRB’s core ratemaking functions.

The Lead Actuarial Analyst works independently and collaboratively with other members of the Actuarial Services team, other WCIRB research teams and other WCIRB departments, with little to no supervision, and where work is peer reviewed by other analysts or leaders.

The Lead Actuarial Analyst reports to the Vice President, Actuary.

Essential Duties and Responsibilities

• Leads the analysis and evaluation of statistical data pertaining to pure premium rates; identifies trends or cost drivers; prepares materials for committees or rate filings to evaluate impact of various cost drivers on pure premium rates.
• Leads actuarial analyses of aggregate data and ratemaking methodologies; recommends adjustments to actuarial ratemaking methodologies to the Vice President, Actuary and Chief Actuary; periodically validates appropriateness of methodologies.
• Provides key deliverables and correspondence with WCIRB members and other customers, such as the insurance department and governmental agencies, on complex data and other technical issues, with minimal or no supervision.
• Represents Actuarial department and provides subject matter expertise on actuarial data and data collection processes to representatives of other units of the WCIRB on various cross-functional projects and issues.
• Prepares, reviews, and analyzes various studies of aggregate and classification experience for rate filings and other reports produced by Actuarial Services included those presented to WCIRB Committees and Working Groups.
• Leads the Actuarial team’s efforts in collaboration with the IT department on the development and changes to applications used by the Actuarial team and customers to submit, retrieve, and/or analyze data.
• Supervises the development and maintenance of data products and oversees the fulfillment of data requirements pursuant to statutory and regulatory mandates.
• Performs peer reviews of analysts’ work.
• Supervises actuarial analysts in various aspects of analyses; oversees progress of projects and guides projects to completion in an accurate and timely manner.

Education, Experience, and Skill Qualifications:

• Educational background (Bachelor’s degree or above) in a technical field such as mathematics, actuarial science, applied statistics, or economics.
• Five years of experience as an actuarial analyst in a property/casualty insurance company, rating organization, consulting firm, or a state insurance department.
• Very strong professional communication skills, both verbally and in writing.
• Strong listening and interpersonal skills.
• A high level of ability in the utilization of mathematical techniques for the analysis of statistical information.
• The ability to develop a complete theoretical framework with precisely-defined relationships, as necessary in special studies or rate revisions.
• Very strong proficiency in the following three areas with six years' experience preferred: mathematics, applied statistics, and programming (in a language such as VBA, SQL, R, or Python).
• Proficiency in Microsoft Office Suite.
• Associate of the Casualty Actuarial Society (CAS) or at least six CAS exams with extensive related experience.

Perks & Benefits

Our employees enjoy a state of the art, energy-efficient, open work environment that nurtures collaboration and creativity. At the WCIRB, we go the extra mile to keep our employees happy and healthy.

Proud to be recognized as a Plan Sponsor of the Year finalist for our commitment to retirement readiness through strong 401k and pension offerings.

Some of our perks include:

• Hybrid work environment (40% onsite 60% remote)
• Medical, dental and vision benefits
• Competitive PTO Program
• 401K and pension plan
• Annual incentive plan
• Social activities
• Community volunteer involvement

WCIRB is an equal opportunity employer committed to an inclusive workplace that fosters belonging. All qualified applicants will receive consideration for employment without regards to race, color, religion, sex, sexual orientation, gender identity, national origin, disability status, protected veteran status, age, genetic information, or any other basis prohibited by law. We also consider qualified applicants with criminal histories consistent with applicable federal, state and local law.

The successful candidate will reside in California and will work from our headquarters in San Francisco at least 40% of the time. We are NOT able to pay for relocation costs for candidates or to sponsor or take over sponsorship of an employment Visa at this time. Thank you for your interest in the WCIRB!

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