Actuarial Analyst

Job Description

Actuarial Analyst

The Company

The Minnesota Workers’ Compensation Insurers Association (MWCIA) is a non-profit organization licensed by the Minnesota Department of Commerce to serve as the state's designated data service organization (DSO).

At MWCIA, our vision is to promote healthy and safe workplaces across Minnesota. Our mission is to enhance the state’s public welfare and economic stability by ensuring a sustainable workers’ compensation system.

We accomplish this through:

✅ Developing base rates for workers’ compensation insurance

✅ Encouraging workplace safety through data-driven insights

✅ Providing essential resources to stakeholders

✅ Monitoring compliance to uphold system integrity

✅ Educating employers, insurers, and policymakers on key industry trends

✅ Conducting research to support informed decision-making

Our Culture & Values

At MWCIA, we foster a balanced, supportive workplace where employees can thrive. Our culture is built on:

⭐ Customer First – We prioritize the needs of our stakeholders.

⭐ Quality Focused – We uphold accuracy, consistency, and excellence in everything we do.

⭐ Objective Decision-Making – We rely on data and facts to guide our actions.

⭐ Always Learning – We embrace growth, innovation, and continuous improvement.

⭐ With Empathy – We lead with understanding and respect for all.

Position Overview

The Actuarial Analyst has a crucial role in supporting MWCIA’s vision through

• Providing expertise as lead strategic resource and external contact for all data collection activities necessary for ratemaking
• Continuously improve ratemaking resources as part of the close-knit Actuarial Services team.

The primary responsibility of an Actuarial Analyst is to coordinate and execute the complete ratemaking process from the capturing of the necessary data elements to its summarization, analysis, and distribution.

Key Responsibilities

Quality Focus

• Attention to detail of finished work products
• Identify and implement process improvements
• Creative problem solving to arrive at desired outcomes

Support Stakeholders

• Demonstrate clear and prompt customer service for internal and external customers
• Collaboration with carrier partners to resolve data concerns

Actuarial Services

• Close team collaboration supporting department initiatives, especially ratemaking.
• Produce robust ratemaking resources for industry stakeholders

Data Analysis

• Validate and aggregate raw data into meaningful charts and exhibits
• Identify, research, and reduce data anomalies
• Use data to tell stories using engaging visuals
• Identify factors that could affect the results of research

Personal Attributes

• Exceptional teamwork within a close-knit team.
• Detail-oriented with a strong sense of accountability.
• Dedication to continuous learning and improvement.
• Possess excellent independent time-management skills with abilities to operate in a multi-task environment.
• Proactive and able to take initiative in identifying and resolving issues.
• Adaptable and open to learning new tools and techniques.

Skills and Qualifications

Technical Skills

• Superior knowledge of Microsoft Word and Excel is essential.
• Design repeatable systems and create efficiencies.
• Data querying and visualization, such as SQL, SAS, Python, and/or DAX.

Analytical Skills

• Rigorous, thorough, detail-oriented skills.
• Excellent problem-solving abilities to identify and resolve issues.
• Strong attention to detail and a proven ability to produce high-quality, error-free work.

Communication Skills

• Effective verbal and written communication to collaborate with internal and external stakeholders.
• Ability to establish and build effective relationships with stakeholders.
• Capable of conveying technical information to non-technical audiences.
• Manage adoption of changes with industry partners.

Experience and Education

• Two or more years in the insurance industry with Workers’ Compensation experience.
• Ratemaking/pricing experience preferred.
• Actuarial and/or insurance designations preferred.

Benefits & Perks

At MWCIA, we believe in fostering a great company culture that promotes work-life balance, innovation, and collaboration. The salary range for this position is $70,000 - $95,000. Annual salary range placement will depend on a variety of factors including, but not limited to, education, work experience, applicable certifications and/or licensure, the position's scope and responsibility, internal pay equity and external market salary data. In addition to compensation, MWCIA offers a comprehensive benefit package that is designed to support your professional growth and personal well-being. Benefits include competitive medical, dental, vision, PTO, Holidays, paid volunteer time off, 401K contributions, and many other benefits to support our employees.

✅ Flexible Work Schedule Option – Work 9 days per bi-weekly payroll (72 hours) while enjoying a schedule that supports balance and efficiency.

✅ Hybrid Work Model – In-office requirement only on Wednesdays for local candidates, providing flexibility while maintaining team collaboration.

✅ Generous Paid Time Off (PTO) – Enjoy 216 hours of PTO per year, giving you ample time to recharge and focus on what matters most.

✅ Comprehensive Health Benefits – Medical, dental, and vision coverage to keep you and your family healthy.

✅ Retirement Savings – 401(k) plan with employer contributions to help secure your financial future.

✅ Life & Disability Insurance – Employer-provided life insurance and additional coverage options for peace of mind.

✅ Innovative & Growth-Oriented Environment – We encourage new ideas, continuous learning (including an actuarial exam program), and cross-functional collaboration, providing opportunities to implement initiatives and make an impact.

Join MWCIA and be part of a dynamic, forward-thinking team where your ideas matter, your contributions are valued, and your success is supported!

MWCIA is an equal-opportunity employer committed to creating a diverse workforce. We consider all qualified applicants regardless of race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability, or veteran status.