Actuary III - DORA: Division of insurance Hybrid

Salary: $8,583.00 - $10,297.00 Monthly
Location : Denver, CO
Job Type: Full Time
Job Number: SFA-4014-11/2026
Department: Department of Regulatory Agencies
Division: Division of Insurance
Opening Date: 11/13/2026
Closing Date: 12/1/2026 11:59 PM Mountain
FLSA: Determined by Position
Type of Announcement: This position is open only to Colorado state residents.
Primary Physical Work Address: 1560 Broadway, Denver, CO 80202
Department Contact Information:
How To Apply: Please submit an online application for this position at https://www.governmentjobs.com/careers/colorado. Reach out to the Department Contact to apply using a paper application, including any supplemental questions. Failure to submit a complete and timely application may result in the rejection of your application. Applicants are responsible for ensuring that application materials are received by the appropriate Human Resources office before the closing date and time listed.

Department Information
Hybrid Workplace Arrangement:

Although this position will be designated under the department's hybrid workplace program, it will still be required to report to the department office on a scheduled basis and at the discretion of the supervisor, based on business needs.

This announcement may be used to fill multiple vacancies.

Description of Job
The Colorado Division of Insurance (DOI) regulates the insurance industry in Colorado. The DOI helps consumers by answering their questions, investigating their complaints, and helping them to understand their insurance. DOI regulates and monitors the insurance companies in Colorado and insurance agents to ensure everyone follows the law.

The actuarial work unit exists to assist the division with protecting consumers by implementing and executing statutory requirements and provisions of actuarial work regarding rate filings and financial statement filings. This position provides actuarial support to the chief actuary and to other sections of the division. This position assists with monitoring and regulating actuarial aspects of insurers and non-traditional insurers.

Position: SFA 4014

This position facilitates the actuarial reviews performed by staff members by providing statistical and quantitative analysis needed in various projects; provides technical evaluations of actuarial or statistical models; provides technical explanations of statistical issues to other DOI employees, to other state agencies, and to consumers; ensures effective review of insurance rates against inadequacy, excessiveness, unfair discrimination, and consistency with risks identified by appropriate and available public and non-public data from insurance companies, statewide databases, consultants, and other emergent sources; examines actuarial assumptions used, insurance plan benefits, and provider and insurer compliance with new and existing state and federal legislation, regulations, bulletins, and other guidance; and seeks to gain consensus in a timely, respectful, and professional manner among diverse stakeholders in hearings, rate reviews, and other feedback sessions.

Duties include, but are not limited to:

• Reviewing rate filings and rating plans that are referred in accordance with established referral procedures from the Rates and Forms Section for conformity to applicable statutes, regulations, and actuarial standards of practice;
• Participating in rate and network hearings in the event of issues uncovered in rate review;
• Managing the work of external actuarial consultants for rating questions that arise on an ad hoc basis, i.e. compliance with emerging federal legislation;
• Responding to requests from the legislature, fiscal, and budget analysts in the Governor's office, the division communications manager, and various other parties in a timely manner. These requests include reports on premium reductions achieved, reinsurance and consumer rate impact, and the effectiveness of annual rate filing review (as measured by the number of filings approved or disapproved);
• Developing statistical models and assisting with research on claim cost utilization issues, either supporting or refuting insurers' filed increases in premium rates;
• Assisting the section manager in developing procedures for the division's future reviews of research models;
• Reviewing all aspects of health insurance plans that are required to be offered by Colorado insurers for compliance with the 2010 Affordable Care Act (PPACA) and Colorado House Bill 21-1232, including health benefits covered by the plans (provisions), the level of insurer reimbursement for those benefits, and the premiums that Colorado consumers will pay for them; AND
• Developing regulations, bulletins, and other insurance guidance for Colorado standardized insurance plans, and monitoring providers and hospital fee schedules for consistency with external benchmarks found in existing and emerging legislation at the federal and state level.

Minimum Qualifications, Substitutions, Conditions of Employment & Appeal Rights
MINIMUM QUALIFICATIONS (MQs):
There are two ways to qualify for this position: 1) Experience OR 2) A Combination of Education and Experience
Option 1: Experience

• Eight (8) years of professional* work experience in a regulated insurance company, in a consulting actuarial firm, in a governmental work regulating insurance companies, or in other financial or insurance entities by performing and providing support with actuarial work.

Option 2: A Combination of Education AND Experience

• Associate's Degree and Experience: Graduation from an accredited college or university with an associate's degree in actuarial science, mathematics, applied mathematics, statistics, economics, data science, business management, or a field of study related to the work assignment; AND
• Six (6) years of professional* work experience in a regulated insurance company, in a consulting actuarial firm, in a governmental work regulating insurance companies, or in other financial or insurance entities by performing and providing support with actuarial work.

OR

• Bachelor's Degree and Experience: Graduation from an accredited college or university with a bachelor's degree in actuarial science, mathematics, applied mathematics, statistics, economics, data science, business management, or a field of study related to the work assignment; AND
• Four (4) years of professional* work experience in a regulated insurance company, in a consulting actuarial firm, in a governmental work regulating insurance companies, or in other financial or insurance entities by performing and providing support with actuarial work.

Document this experience in your application IN DETAIL, as your experience will not be inferred or assumed. Part time experience will be prorated.
SUBSTITUTIONS:

• Partial credit toward the degree requirement will be given for completed college/university coursework that did not result in a degree.A master's or doctorate degree from an accredited college or university in a field of study related to the work assignment will substitute for the bachelor's degree requirement.

*Professional work involves exercising discretion, analytical skill, judgment and personal accountability and responsibility for creating, developing, integrating, applying, and sharing an organized body of knowledge that characteristically is: uniquely acquired through an intense education or training regimen at a recognized college or university; equivalent to the curriculum requirements for a bachelor's or higher degree with major study in or pertinent to the specialized field; and continuously studied to explore, extend, and use additional discoveries, interpretations, and application and to improve data, materials, equipment, applications and methods.
Preferred Qualifications:

• One (1) year of experience leading teams, including distributing and assigning work, ensuring timeliness, and accuracy of work performed, and being accountable for the work product of other team members; OR leading projects, including managing and allocating resources and guiding work, reporting outcomes, and ensuring project milestones and deadlines are met.
• Demonstrated experience reviewing or using insurance industry-specific rating models used by regulated entities.
• Demonstrated experience reviewing rate submissions from insurance carriers, including the Affordable Care Act and Actuarial Standards of Practice (ASOPs).
• Demonstrated experience using Microsoft Excel to analyze rate filings and organize data.
• Demonstrated experience creating reports based on research and actuarial analysis.
• Credentialed in the Society of Actuaries (SOA) -currently holds or is working toward credentials by passing at least two or more exams. Note: A copy of a certificate/transcript to verify the associate or fellow in the SOA must be received by the application deadline.
• Demonstrated experience working with Visual Basic Applications (VBA), scripts, and/or macros.
• Demonstrated experience conducting data and statistical analysis with large volumes of data.

Required Competencies: The following knowledge, skills, abilities, and personal characteristics are required competencies and may be considered during the selection process (including examination and/or interview):

• Demonstrated written communication skills, including the ability to convey information to various stakeholders in a clear, accurate, and concise written manner;
• Demonstrated verbal communication skills, including the ability to effectively convey information to audiences in a concise manner;
• Demonstrated attention to detail;
• Demonstrated critical thinking and analytical skills, including having the ability to evaluate information in order to apply knowledge and to decide on the most appropriate course of action;
• Sound judgment and the confidence to make decisions on a routine basis;
• Demonstrated problem-solving skills, including the ability to review and analyze information in order to find solutions;
• Problem-solving skills, including the ability to develop rationale and methodology for collecting information from varied and conflicting sources;
• Demonstrated interpersonal skills, including the ability to collaborate and maintain relationships with internal and external stakeholders;
• Demonstrated creativity and flexibility, including the ability to adapt to shifting priorities and additional work assignments in a fast-paced work environment;
• Organizational skills, including prioritizing, planning, and time management in order to meet deadlines;
• Customer service skills, including the ability to maintain communication and work diplomatically with difficult customers;
• Creativity and flexibility, including the ability to multi-task, manage various workloads, and adapt to shifting priorities in a fast-paced work environment;
• Knowledge of the Affordable Care Act, Actuarial Standards of Practice, and data modeling concepts;
• Ability to conduct research, including gathering pertinent information and data;
• Ability to negotiate solutions and solicit compromise with various stakeholders;
• Ability to represent the department and the Division of Insurance in a positive, professional and objective manner, and support a positive workplace environment;
• Demonstrated ability to understand and abide by workplace principles, practices and behaviors as internally identified and defined by the division and department;
• Demonstrated ability to read, understand, interpret, apply, and explain laws, rules, policies, and procedures;
• Ability to travel independently, including work in-office, as required by business needs and scheduled by the supervisor;
• Integrity and high ethical standards;
• Accountability, reliability, including attendance;
• Ability to maintain confidential, controversial, or sensitive information;
• Self-starter, including the ability to work independently, learn new processes, utilize own knowledge and that of supervisor, and complete work with minimal supervision;

• Demonstrated professional demeanor;
• Knowledge and understanding in the use of PC software applications including Microsoft Office (Access, Word, Excel, etc.), and Google Suite (Doc's, Sheets, Slides, Calendar, etc).

Conditions of Employment: Candidates who fail to meet the conditions of employment will be removed from consideration.

• The successful passing of a refer