Washington State Office of the Insurance Commissioner · 15 hours ago
Actuary 3
Olympia, WA
Full-time
Hybrid
Senior Level
$11,891/mo - $15,997/mo
7+ years expThe Washington State Office of the Insurance Commissioner (OIC) is seeking a qualified individual for the Actuary 3 position within the Rates Forms and Provider Networks Division. This role involves leading complex health and disability insurance rate filing reviews to ensure compliance with regulations and actuarial standards, while also contributing to broader policy initiatives and supporting financial examinations.
GovernmentInsuranceQuality Assurance
Responsibilities
Lead the review of complex health and disability insurance rate filings, including Affordable Care Act (ACA) filings, to determine compliance with Washington state and federal laws, regulations, and actuarial standards
Apply actuarial principles and professional judgment to evaluate the reasonableness of data, assumptions, methodologies, and calculations used by insurers to support proposed rates
Determine whether filed rates are actuarially sound and legally compliant, and take final regulatory action on assigned filings in accordance with established OIC and SERFF procedures
Draft detailed and well-supported objection letters and regulatory correspondence identifying deficiencies, compliance issues, and actuarial concerns in rate filings
Communicate directly with insurer actuarial and filing staff to answer questions, resolve issues, and facilitate timely and complete filing submissions
Prepare clear, accurate filing summaries, decision memoranda, and supporting documentation for internal use and for public posting on OIC’s health insurance transparency website
Enter and maintain complete and accurate filing information in regulatory systems such as SERFF and SIMBA, following established division and agency procedures
Develop and maintain actuarial guidance, review handbooks, instructions, checklists, and process documentation to support consistent and efficient filing reviews
Create exhibits, charts, and analyses for management reporting, special projects, and policy initiatives using data from rate filings, financial reports, and other sources
Lead actuarial support for company solvency monitoring and financial examinations, including planning and executing the actuarial scope of work in coordination with the Examiner-in-Charge
Perform and review reserve calculations, actuarial analyses, and Statements of Actuarial Opinion (SAOs) as part of financial examinations and ongoing solvency oversight
Prepare actuarial work papers, written reports, and recommendations that clearly document methods, assumptions, findings, and conclusions
Communicate actuarial findings, risks, and recommendations to examination teams, agency leadership, and other stakeholders in a timely and effective manner
Identify and refer potential non-compliance or regulatory concerns to Legal or Market Conduct Oversight as appropriate
Participate in cross-division collaboration, training, and knowledge-sharing to promote consistency in regulatory review and strengthen actuarial practices
Contribute to process improvements and development of tools to increase the accuracy, efficiency, and transparency of rate and financial reviews
Maintain professional actuarial knowledge through continuing education, training, and actuarial examinations, and participate in NAIC task forces or workgroups as assigned
Qualification
Required
Bachelor's degree involving major study in actuarial science, economics, mathematics, statistics or a closely related field and membership in the American Academy of Actuaries
Associate (ASA) or Fellow (FSA) of the Society of Actuaries (SOA)
Seven (7) years of full-time professional health actuarial experience
Intermediate-level skills and experience in Microsoft Outlook, Word, and Excel
Preferred
Advanced Microsoft Excel skill level including complex macro development experience
Two (2) years of programming experience in VBA and other statistical programming languages (e.g., R, Python, SAS)
Three (3) years of individual and small group ACA health plan rate filing review or pricing experience
Four (4) years of experience in actuarial financial examination, statutory reserving, or financial reporting for health carriers
Benefits
Comprehensive benefits package: Health, dental, vision, retirement, paid leave (vacation, sick, etc.) and much more!
Supportive work environment: We value diversity, professional growth, and collaborative atmosphere.
Wellness programs: Invest in your well-being with on-site resources and initiatives.
Work-life balance: Flexible schedules with telework opportunities.
Public service fulfillment: Contribute to a cause that matters and feel the satisfaction of serving the public good.
Training & Development: Continuously learn and grow with tuition reimbursement, Public Service Loan Forgiveness, and other programs.
Free parking (Tumwater) & Public transportation pass (Thurston County): Save on commuting costs.
Company
Washington State Office of the Insurance Commissioner
The Washington state Office of the Insurance Commissioner, led by Commissioner Patty Kuderer, protects insurance consumers.
201-500 employees
H1B Sponsorship
Washington State Office of the Insurance Commissioner has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
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Trends of Total Sponsorships
2025 (1)
2023 (1)
Funding
Current Stage
Growth StageRecent News
2021-12-29
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