Location : Richland County, SC
Job Type: FTE - Full-Time
Job Number: 170549
Agency: Department of Insurance
Opening Date: 01/09/2025
Closing Date: 1/31/2025 11:59 PM Eastern
Residency Requirement: Yes
Class Code:: UA60
Position Number:: 60026125
Normal Work Schedule:: Monday - Friday (8:30 - 5:00)
Pay Band: Unclassified
Hiring Range - Min.: $100,000.00
Hiring Range - Max.: $153,375.00
Opening Date: 10/29/2024
EEO Statement: Equal Opportunity Employer
Agency Specific Application Procedures:: If YOU HAVE PREVIOUSLY APPLIED FOR THIS POSITION, PLEASE DO NOT REAPPLY. WE HAVE YOUR APPLICATION ON FILE. A RESUME WILL NOT BE ACCEPTED NOR REVIEWED TO DETERMINE IF AN APPLICANT HAS MET THE QUALIFICATIONS FOR THE POSITION. If you meet the requirements of the position and would like to be considered, you must submit a state application online. Please complete the state application to include all current and previous work history and education. Supplemental questions are considered part of your official application. Any misrepresentation will result in your disqualification from employment. The quality of the application presented (completeness and accuracy as well as grammar and spelling) will be considered prior to the offer of an interview. An offer of employment is contingent upon a satisfactory criminal background check. Applications will be accepted until 11:59 on the state closing date.
Veteran Preference Statement: South Carolina is making our Veterans a priority for employment in state agencies and institutions.
Job Responsibilities
If YOU HAVE PREVIOUSLY APPLIED FOR THIS POSITION, PLEASE DO NOT REAPPLY. WE HAVE YOUR APPLICATION ON FILE.
Mission Statement:
The mission of the State of South Carolina Department of Insurance is to protect the insurance consumers, the public interest, and the insurance marketplace by ensuring the solvency of insurers; by enforcing and implementing the insurance laws of the State; and by regulating the insurance industry in an efficient, courteous, responsive, fair, and equitable manner. For more information about working at the SC Department of Insurance, please visit
This position reports to the Agency Director.
Job Functions:
Under limited supervision, serves as one of the Department's actuaries.
Serves as a consultant to the department and to other state agencies on complex actuarial matters and other insurance related issues including but not limited to issues related to product design, rating, valuation, and reserving.
Analyzes and evaluates insurance plans, rates, and practices, interprets law governing insurance related matters. Reviews requests for significant rate increases. Develops tentative credit rates. Assists in projects involving data calls and research.
Monitors insurance, reinsurance, alternative, and residual markets. Monitors the activities of the National Association of Insurance Commissioners, particularly those related to insurance companies and markets as well as actuarial practices. Provide briefs to the department's executive staff on emerging issues. Recommends, drafts, and testifies, as needed, on legislative items.
Reviews reinsurance contracts for compliance with risk transfer and related laws. Reviews actuarial opinions and related items in the annual statements of domestic insurance companies. Reviews actuarial aspects of applications for admission for domestic insurance companies, including captives.
Other duties as required by the director and/or deputy directors.
Minimum and Additional Requirements
A bachelor's degree in mathematics, statistics, actuarial science, finance, or related field and relevant experience. Three to five years' experience in insurance or related field required. Required to have passed preliminary examination requirements for one of the following professional designations: Associate of the Society of Actuaries (ASA) or Associate of the Casualty Actuarial Society (ACAS). A preferred candidate will be a Member of the American Academy of Actuaries (MAAA) and have the professional designation of Associate/Fellow of the Society of Actuaries (ASA/FSA) or Associate/Fellow of the Casualty Actuarial Society (ACAS/FCAS).
Ability to evaluate various aspects of insurance contracts, including the appropriateness of rates and related practices.
Ability to evaluate complex insurance arrangements, including insurance and reinsurance agreements, financial statements, including reserves and related items, and actuarial studies.
Ability to comprehend and evaluate evolving issues in the insurance markets, including complex actuarial issues, and to assess necessary program and/or legislative changes.
Ability to communicate effectively.
Must have (or be able to gain) a knowledge of South Carolina statutes pertaining to insurance companies and markets.
Excellent oral and written communication skills are required.
Employee receives direction from the Agency Director.
Employee performs assigned duties independently, exercising sound judgement and discretion.
Operates a personal computer and other office equipment.
Some overnight travel may be required.
Additional Comments
Educational Credentials:
Applicants indicating college credit or degree(s) on the application will be required to submit a sealed, certified copy of the transcript(s) prior to beginning employment. Failure to produce an official, certified transcript will result in any conditional offer of employment being rescinded.
Equal Opportunity Employer:
It is the policy of the South Carolina Department of Insurance to provide equal employment opportunities to all job applicants and employees without regard to their race, color, religion, national origin, sex (including, but not limited to, pregnancy, childbirth or related medical conditions and lactation), disability or age.
Veteran Preference Statement:
South Carolina is making our Veterans a priority for employment in state agencies and institutions.
The Department of Insurance offers an exceptional benefits package for FTE positions that includes:
- Health, Dental, Vision, Long Term Disability, and Life Insurance for Employee, Spouse, and Children
- 15 days annual (vacation) leave per year
- 15 days sick leave per year
- 13 paid holidays
- State Retirement Plan and Deferred Compensation Programs
- Employee Assistance Program
- Free counseling sessions for employees and household members
- Free legal counseling
- Free financial counseling
- Flexible Work Schedules
- Compressed work weeks
- Part-time telecommuting
- Flex-time
- Free Gym Access
- Growth Opportunities
- Certifications/designation program allowing for salary increases and bonuses
- Infants at Work Program
- Employees eligible to bring their newborn/infant to the workplace
- Free Parking
Benefits for State Employees
The state of South Carolina offers eligible employees generous benefits, including health and dental insurance; retirement and savings plan options; and paid vacation and sick leave. Plus, work-life balance programs such as telecommuting and flexible work schedules are available to employees of some state agencies.
Insurance Benefits
Eligible employees may enroll in health insurance, which includes prescription coverage and wellness benefits. Other available insurance benefits include dental, vision, term life insurance, long term disability and flexible spending accounts for health and child care expenses.
Retirement Benefits
State employees are also offered retirement plan options, including defined benefit and defined contribution plans. Additionally, eligible employees may elect to participate in the South Carolina Deferred Compensation Program, which is a voluntary, supplemental retirement savings plan offering 401(k) and 457 plan options.
Workplace Benefits
State employees may also be eligible for other benefits, including tuition assistance; holiday, annual and sick leave; and discounts on purchases, travel and more.
Note: The benefits above are available to most state employees, with the exception of those in temporary positions. Employees in temporary grant and time-limited positions may be eligible for all, some or none of these benefits as benefits are associated with each position type. For these positions, contact the hiring agency to determine what benefits may be available.