Job Description

Job Description

Job Description

For over a century, the Workers' Compensation Insurance Rating Bureau of California (WCIRB) has been 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. The operations of the WCIRB are funded primarily by membership fees and assessments; no state money is used to fund its operations. The WCIRB is a stable company and a proven leader in the workers’ compensation insurance industry nationwide.

The WCIRB performs a number of functions to accurately measure the cost of providing workers' compensation benefits and ensure a healthy workers’ compensation system. To learn more about our company, please visit About Us | WCIRB California. The WCIRB employs approximately 175 people with an average tenure of over 10 years. We are committed to fostering a healthy, safe, and diverse work environment, leading to a dedicated, collaborative, and innovative workforce. This is a hybrid position where approximately 40% of your work time is spent at our home office in San Francisco (steps from Montgomery BART).

At the WCIRB, the Senior Actuarial Analyst is an integral team member supporting a healthy California workers’ compensation system through expertise and innovation. Our work is consistent and accurate, we value collaboration and curiosity, we cultivate a safe space for learning and asking questions, and we celebrate new ideas and novel approaches to our projects. At the same time, we promote a thriving work/life balance that includes a hybrid work model and every other Friday off. We are committed to fostering a healthy, safe, and diverse work environment leading to a dedicated, collaborative, and innovative workforce.

We work on a range of workers’ compensation projects including the advisory pure premium rate changes (Regulatory and Pure Premium Rate Filings | WCIRB California) and exploring drivers of workers’ compensation costs, such as in our annual state of the system report (2024 State of the System | WCIRB California).

The Senior Actuarial Analyst works both independently and as part of a team on projects. Responsibilities include (1) preparing complex data sets, including extraction from internal systems and acquisition from external sources and merging data; (2) auditing data for analysis, including both basic accuracy and overall reasonableness; (3) providing SQL, Excel, or statistical programming expertise in R to access, analyze and report analysis results; (4) performing various actuarial and research analyses under moderate supervision; and (5) sharing high-level findings with internal and external stakeholders.

For example, to prepare for the annual pure premium rate filing, the Senior Actuarial Analyst uses SQL to extract datasets based on existing procedures. The Analyst collaborates with other team members to check the datasets for accuracy and reasonableness, and makes updates to both the datasets and calculations as needed. The Analyst explores the data based on current issues in workers’ compensation, such as how new legislation could impact loss cost projections. The Analyst combines their analyses into exhibits, shares these exhibits and high-level findings with management for peer review, and adjusts the final exhibits based on peer review feedback.

Essential Duties and Responsibilities

• Collects and compiles aggregate data for ratemaking and research, and performs a thorough review of both aggregate and individual insured data for errors, anomalies, and changing trends.
• Corresponds with California workers’ compensation insurers on complex technical and data quality issues.
• Interacts with representatives of other departments of the WCIRB on various data-related issues and operational projects.
• Performs detailed technical review and high-level peer review of other analysts’ work.
• Independently performs thorough actuarial analyses of aggregate data, applying judgment and discretion in the analyses, identifying trends and cost drivers, communicating results to management, and implementing recommended actions for the production of reports and presentations.
• Performs detailed actuarial studies independently with minimal supervision.
• Recommends and creates enhancements to processes or methodologies to achieve greater accuracy or efficiency.
• Responsible for key actuarial analyses and projections in rate filings, including descriptive write-ups of methodologies.
• Assists in the management and coordination of team projects within Actuarial Services, with other WCIRB departments, and with external customer working groups.
• Writes and presents actuarial studies and reports to internal and external groups, including to actuarial peers and executive customers.

Education, Experience, and Skill Qualifications

Required:

• Completion of Casualty Actuarial Society examinations through CAS Exam 5. Candidates who have completed a sitting of CAS Exam 5 without passing will also be considered.
• Broad understanding of actuarial ratemaking methodologies.
• Minimum of two years as an actuarial analyst or equivalent actuarial position in the property and casualty field.
• Proficiency in mathematics and property and casualty insurance.
• Proficiency in Microsoft Office Suite.

Recommended:

• One or more years of experience in workers’ compensation or a similar long-tailed line of business, such as medical professional liability insurance.
• Educational background (Bachelor’s degree or above) with a strong GPA in a technical field such as mathematics, actuarial science, applied statistics, or economics.
• Able to communicate effectively and professionally, both verbally and in writing.
• Independently driven to learn through collaboration with peers, connecting with internal experts, and reading existing reports and publications.
• Proficiency in at least one of the following: advanced Excel techniques, MS Access, VBA, SQL, R, Python.

Qualifications

To perform this job successfully, the individual must be able to execute the tasks discussed in this job description. The requirements listed below are representative of the knowledge, skills and/or ability required. Reasonable accommodations, as required by ADA, may be made to enable individuals with disabilities to perform the essential functions.

Physical Demands

The physical demands described in this section are to be representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations, as required by ADA, may be made to enable individuals with disabilities to perform the essential functions.

• Job requires both sitting at a workstation (90%) and moving about the office (10%)
• The majority of time is spent at a PC using keyboard and/or mouse.

Work Environment

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

The Senior Actuarial Analyst will reside in the State of California and actively participate in the hybrid working structure of the WCIRB with an expectation of being in-office at least 40% of the time (average of 2 days a week in-office). On occasion, extended remote working hours may be required during major project deadlines.

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. Our perks include:

• Alternating 5- and 4-day workweek: every other Friday off!
• Hybrid work environment: average of 2 days per week in-office.
• Medical, dental and vision benefits.
• 401K and pension plan.
• Annual incentive plan: annual merit-based raises and potential for bonuses.
• Company-paid actuarial exams and learning material.
• Social activities: companywide off-site parties, celebratory lunches, sporting events and more!

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!

Job Tags

Work at office, Local area, Work from home, Home office, Work visa, Relocation package, 2 days per week,

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