IAC Actuary Associate

LifeShield National Insurance Co is seeking an experienced Actuary Associate to work from our office in Oklahoma City.The Actuary Associate provides support for the actuarial work required by the state laws and regulations. As a member of our actuarial team the position will support efforts to gather data and perform studies to measure the value of the business and how that value changes over time. The ideal candidate will be willing to learn the design and pricing of supplemental accident, health insurance and group life insurance and also understand the Statutory valuations.Responsibilities include:Data Analysis and Reporting: Collect and analyze data to assess risk and evaluate the financial implications of different insurance policies. Prepare reports and presentations summarizing findings.Rate Adjustment Filing: Preparation of necessary correspondence and actuarial exhibits for rate filings and other regulatory filings for more than 30 states monthly.Create Special Billing & Letters: Support and document billing details as needed for special cases as required when unique circumstances require documentation or correction to billing calculations not currently programmed into our production systems (QLAdmin). Verify and monitor rate increase letters through QLAdmin, and ensured communication letters to policyholders were accurate and distributed punctually.New Business Reports: Develop data and assist in report preparation for new business produced, as required by various business units, senior management and regulatory authorities. New business annualized premiums, production by distribution, line of business, claims, reserves, etc. Analyze experience and trends, provides reports for actuaries and effectively communicated findings.Rate Implementation: Assist Actuaries in implementing, verifying and monitoring rates as they gets approved by state insurance departments. Assist in loading approved rates by state insurance departments into our production system. Test rates to ensure accuracy of the data entered before submitting for approval.New Plans/Rates Input & Testing: Perform testing on new products by setting up plan codes, plan documents, and rates. Validate test policies, identify and resolve error as needed. Continue monitoring upon launching of new products and resolve issues as they arise.Position RequirementsInterested candidates must possess Actuarial/Mathematical or Statistical knowledge, as well as demonstrated ability to prepare and analyze complex actuarial reports to be considered. Additionally, a Bachelor’s degree in Actuarial Science, Mathematics or Science is required. Preference will be given to candidates who already have or are working toward an Associate Society of Actuaries designation.Additional requirements include:Demonstrated ability to apply real world applications to business needsCritical problem solving skillsAbility to act and work independentlyFamiliarity with MS Excel and AccessFamiliarity with SQL and VBACandidates should also have the desire to stay current on trends in the supplemental product through professional development & continuing education, and develop the skills to be able to translate those trends into actionable strategic and tactical objectives for the company.LifeShield at a Glance: With approximately $100 million in assets, LNIC and it’s two subsidiaries combine for a dynamic and rapidly growing insurer. Affiliated thru common ownership with The Midland Group family of companies, including MidFirst Bank, which specializes in banking and mortgage servicing. This affiliation allows LifeShield to leverage the resources of a much larger organization, while remaining nimble and responsive to opportunities, focusing on life and supplemental accident and health insurance products for individuals, families, businesses, and associations.AM Best reaffirmed LifeShield's rating of B++. Since 2001, LifeShield National Insurance Co. has held a rating of B++ by AM Best Company, a widely recognized independent insurance industry ratings firm. This is the fifth highest rating possible out of a total of 16. LNIC is headquartered in Oklahoma City, OK and services over 100,000 policyholders.We value diversity and strive to be an employer of choice as an Equal Opportunity Employer.Industry: Insurance & Financial ServicesEmployment Type: Full-time