Actuary

PLEASE NOTE: This position is being posted to comply with organizational policies and Colorado state transparency guidelines. A pre-identified candidate has already been selected for this role, and active recruitment for external applicants is not taking place at this time.

Pinnacol Assurance does just one thing, and does it better than anyone: provide caring workers’ compensation protection to Colorado employers and employees. And while we may be a little biased, we believe that our work shapes communities and changes lives.

We have big hearts and love big ideas. We’ve been around for more than  100 years, but don’t let that fool you. Pinnacol is committed to taking care of Colorado employers and workers in the most innovative ways. We celebrate continuous improvement, new ideas, compassion, teamwork, integrity and excellence.

What you’ll do:

• The Actuary is an experienced technical contributor and cross-functional partner who develops and executes actuarial, statistical, and predictive analyses to differentiate loss costs and risk across the Company's insurance portfolio. In this role, you will perform pricing, reserving, and predictive modeling work of increasing complexity, contribute data-driven insight to Underwriting, Claims, Finance, and Enterprise Strategy, and help translate technical findings for non-technical stakeholders. The Actuary is expected to work with growing independence while continuing to build toward the technical leadership and strategic-partner scope of a Senior Actuary, and will collaborate with shared services teams to support consistency and operational efficiency.

What you can expect:

• Pricing & Rate Development: Perform pricing duties including development of loss costs, rates, and appropriate credits/debits for key characteristics; support large account pricing and enhancement of large account pricing tools; perform special studies to improve pricing differentiation.
• Reserving & Financial Analysis: Support the quarterly and annual IBNR reserve review process in coordination with independent actuarial consultants, and perform internal reserve reviews evaluating adequacy and emerging trends.
• Predictive Analytics & Modeling: Build, validate, and refine predictive models (such as GLMs) to improve risk segmentation, pricing accuracy, and operational workflows.
• Profit Sharing & Dividend Programs: Support development and maintenance of profit-sharing programs such as Agent Bonus, Individual Loss Control and Safety Group Dividends, and allocation of General Dividend.
• Cross-Functional Analysis: Conduct analyses into the risk and profitability of key business segments, and partner with Underwriting, Claims, Finance, and Enterprise Strategy on portfolio profitability and segment reviews.
• Enterprise Risk Management: Support development of enterprise risk management models that measure and monitor the Company's key risks; help identify and implement industry best practices, and assist in communicating and training risk measurement and modeling concepts to risk owners.
• Data Strategy & Process Improvement: Support enterprise data strategy development, business/data transformation efforts, tool modernization, and process improvements that streamline workflows and increase productivity.
• External & Regulatory Communication: Communicate with appropriate external parties — including independent actuaries, auditors, NCCI, and state Departments of Insurance — on items impacting the Company's outlook and strategy, with support from senior actuarial staff on higher-stakes matters.
• Collaboration & Mentorship: Work with other functional areas to develop value-added projects and hypotheses aligned with enterprise strategy, and provide guidance to analysts as needed.

ADDITIONAL DUTIES:

• Conduct studies on the industry and key competitors.
• Perform other duties as assigned.

What you need to be successful:

 

• Professional Credentials: FCAS, or near-FCAS making demonstrated progress toward Fellowship of the Casualty Actuarial Society (FCAS).
• Experience: 5+ years of progressively responsible experience in Property & Casualty (P&C) actuarial work, with experience in pricing, reserving, or predictive modeling.
• Line of Business Knowledge: Experience with Workers' Compensation (WC) and commercial lines.
• Technical Proficiency:
  • Expert: Microsoft Excel.
  • Advanced: SQL for data extraction and database manipulation.
  • Intermediate / Advanced: Python, R, or SAS for predictive modeling, statistical analysis, and workflow automation (preferred).
• Analytical & Critical Mindset: Strong problem-solving skills, attention to detail, and sound critical judgment in evaluating risk options. Demonstrated project management skills.
• Communication: Excellent verbal and written communication and presentation skills, with the ability to explain technical concepts and business insights to both technical and non-technical stakeholders.
• Education: Bachelor's degree in Actuarial Science, Mathematics, Statistics, Economics, Finance, or a related quantitative field. Relevant work experience of similar kind and level may be substituted for the education requirement; completion of a degree is encouraged and supported.

Preferred Experience

• Growing knowledge of Generalized Linear Models (GLMs) and other statistical modeling tools.
• Exposure to presenting to or supporting presentations for state regulatory bodies (DOIs), advisory bureaus (NCCI/ISO), or independent auditors.

 

WORK ENVIRONMENT / PHYSICAL ACTIVITIES:

• Regular attendance required. Extensive telephone and computer work in a largely remote work environment. Must be able to attend strategic planning sessions, industry and community events requiring before/after hours and travel.

We can’t do our work without people like you.
Our employees are extraordinary and committed to making a difference. Here’s some of the ways we show our appreciation.

• Our benefits go beyond the basics. You’ll get to choose from diverse benefit offerings for medical, dental and vision.
• We care about each other. We enjoy a positive, collaborative work environment. We are hard workers and high performers.
• We love who you are. Pinnacol is on a journey to embody diversity, equity and inclusion. We’re committed to creating a culture that deeply values differences, where everyone feels like they belong.
• Take a day (or 20!) off. Enjoy 20 paid days off your first full year plus 9 paid holidays.
• Take care of yourself. Sign up for unique wellness programs, including on-site, company-paid fitness facilities and classes
• Get your learning on. We promote a learning culture to help you master your current job and cultivate the skills of the future through a variety of on-site, online, and off-site professional development opportunities.
• Give back and get paid. Through our employee volunteer program, Pinnacol in Action, employees receive paid time off to volunteer with Colorado nonprofits.
• Share in our success. You’ll have the opportunity to earn a quarterly incentive, a percentage of your annual base salary, when your team exceeds their goals and objectives.

When we find the right person, we try to put our best foot forward with an offer that excites you. We consider what you’d like to be paid, the skills and experience you bring, what similar jobs pay in the Denver area and make sure there’s equal pay for equal work among those you’ll be working with. The compensation amount for this role is targeted at $135,100-$145,250. Final offer amounts are determined by multiple factors including your experience and expertise and may vary from the amounts listed above.

Want to love your work? Apply today!

Pinnacol is committed to working with and providing reasonable accommodations to applicants with disabilities. To request assistance with the application process, please email [email protected].