Rate Analyst I

Job Posting Title

Rate Analyst I

Agency

385 OKLAHOMA INSURANCE DEPARTMENT

Supervisory Organization

Insurance Department

Job Posting End Date (Continuous if Blank)

Note: Applications will be accepted until 11:59 PM on the day prior to the posting end date above.

Estimated Appointment End Date (Continuous if Blank)

Full/Part-Time

Full time

Job Type

Regular

Compensation

This position may be posted as level I or II, depending on the applicant's qualifications.

Job Description

Rate Analyst I

Definition:

Under immediate supervision, review and analyze rate, manual rule and form filings to ensure compliance with Oklahoma statutes, regulations and case law.

DUTIES AND RESPONSIBILITIES:

• Electronically review and analyze insurance filings, such as rate, rule and form filings
• Assist with issues, questions or projects concerning insurance rates, rules and forms
• Communicate with companies in writing or by telephone regarding information relative to specific filings or Oklahoma requirements in general
• Engage in specialized studies of various insurance issues
• Assist in locating filings or information in filings for the public or insurance industry
• Perform related work as required or assigned
• Other duties as assigned

Knowledge and SkillS:

• Develop and expand insurance knowledge including marketplace and laws
• You should have intermediate-level knowledge and skills in Microsoft Office, including Excel, Word, Outlook, and can learn SBS and SERFF software
• Maintain effective working relationships internally and externally
• Manage time effectively to meet deadlines 
• Must be able to work independently and within a group
• Must possess good customer service skills, handling confidential work with tact and discretion
• Represent the Department internally and externally effectively and professionally
• Communicate effectively both orally and in writing
• Must possess strong organizational skills with the ability to multitask
• Must be detail-oriented but able to see the “big picture”
• Understand statutes, regulations, policies and procedures and how to apply them to conducting the business of the Department

Education and Experience:

Applicants should have some insurance experience with a preference given to applicants with Life & Health or Property & Casualty experience.

Bachelor’s degree is desired with one or more years of experience working with rate, rule, or insurance policies and endorsements. Preference may be given to applicants with strong insurance knowledge.

NOTE: Upon hire, any applicant who is licensed as a producer/agent, adjuster or is otherwise affiliated with any entity that is regulated by the department must surrender their license and terminate any financial or non-financial affiliation with the entity that is regulated by the department. The selected applicant must pass a background check. Individual may be required to pursue NAIC designations as job duties require.

Rate Analyst II

DEFINITION:

Under immediate supervision, review and analyze forms and rate filings to ensure compliance with Oklahoma statutes, regulations and case law.

DUTIES AND RESPONSIBILITIES:

• Electronically review and analyze insurance filings, such as rate, rule and form filings
• Assist with issues, questions or projects concerning insurance rates, rules and forms
• Communicate with companies in writing or by telephone regarding information relative to specific filings or Oklahoma requirements in general
• Engage in specialized studies of various insurance issues
• Assist in locating filings or information in filings for the public or insurance industry 
• Perform related work as required or assigned
• Prepare various ad-hoc reports for internal and external parties
• Other duties as assigned

KNOWLEDGE AND SKILLS:

• Develop and expand insurance knowledge including marketplace and laws 
• You should have intermediate-level knowledge and skills in Microsoft Office, including Excel, Word, Outlook, and can learn SBS and SERFF software.
• Maintain effective working relationships within OID and with external parties 
• Manage time effectively to meet deadlines 
• Must be able to work independently and within a group 
• Must possess good customer service skills, handling confidential work with tact and discretion
• Represent the Department internally and externally effectively and professionally 
• Communicate effectively, both orally and in writing 
• Must possess strong organizational skills with the ability to multitask 
• Must be detail-oriented but able to see the “big picture” 
• Understand statutes, regulations, policies and procedures and how to apply them to conducting the business of the Department
• Experience with tracking changes in new laws, regulations, and others 
• Willing to obtain or maintain current professional designations/continuing education

EDUCATION AND EXPERIENCE:

Bachelor’s degree desired and experience reviewing Life & Health or Property & Casualty products.  Applicants must have extensive experience analyzing insurance policies, riders, and rates and rating plans.   Preference will be given to applicants with strong insurance knowledge, background reviewing claims or have additional insurance designations (CPCU, CISR, CIC, CPIW IIA, etc.).

NOTE: Upon hire, any applicant who is licensed as a producer/agent, adjuster or is otherwise affiliated with any entity that is regulated by the department must surrender their license and terminate any financial or non-financial affiliation with the entity that is regulated by the department. The selected applicant must pass a background check. Individuals may be required to pursue NAIC designations as job duties require.

Employees of the Oklahoma Insurance Department are unclassified employees of the state.  For benefits offered by the State of Oklahoma to employees of the state, please use this link to access the Office of Human Capital Management benefits page at https://omes.ok.gov/services/employee-benefits

EEO/AA

Equal Opportunity Employment

The State of Oklahoma is an equal opportunity employer and does not discriminate on the basis of genetic information, race, religion, color, sex, age, national origin, or disability.

Current active State of Oklahoma employees must apply for open positions internally through the Workday Jobs Hub.