MANAGING ACTUARY (Code 55210)
Managing Actuary falls in New Jersey's unclassified service: an appointing authority hires for it directly, without a civil service exam.
Candidates need a bachelor's degree and a professional license.
How to apply
This title is not filled by examination — agencies appoint directly.
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See where to apply for this title →Why this title is unclassified
This specification cites N.J.S.A.11A:3-41 (printed that way in the specification; the paragraph letter is (l)), state unclassified service.
(l) All other titles as provided by law or as the Civil Service Commission may determine.
A title in the State unclassified service sits outside Title 11A unless a provision says otherwise. In practice that means no competitive examination to get the job, and none of the career service protections that come with it: no permanent status after a working test period, and no right of appeal to the Civil Service Commission from a removal. Appointment and removal rest with the appointing authority.
The rule that allocates a title to this service is N.J.A.C. 4A:3-1.3.
Official job specification
The text below is the official specification published by the New Jersey Civil Service Commission. The plain-language summary and analysis above are derived from it by NJ Civil Service Navigator. Source: the official specification page at NJ CSC.
Definition
Under general supervision of the Commissioner or other higher level official in a state department, has charge of the work programs and/or staff of the Actuarial Services; does related work as required.
Examples of work
- Prepares the work program of Actuarial Services, analyzes technical actuarial and related problems, and formulates appropriate policies, procedures, standards, and systems for the area.
- Manages the work operations and/or functional programs and has responsibility for employee evaluations and for effectively recommending the hiring, firing, promoting, demoting and/or disciplining of employees.
- Directs the review and critical analysis of acturial information to assure that they meet the legal requirements and are otherwise reasonable, equitable, and understandable.
- Devises and promulgates appropriate regulatory measures and regulations for division use.
- Directs the valuation work of the Actuarial Section.
- Directs the actuarial portion of the examinations of fiscal and program documents.
- Establishes and directs the carrying out of education and training programs for division staff.
- Reviews and supervises the review of the financial condition of companies based on the audit of annual statements and the reports of examinations.
- Reviews the reports, records, recommendations, and actions of staff.
- Collects data for and prepares the tentative budget request and interpretation of the division.
- Administers the laws and regulations regarding contracts on a variable basis.
- Assists in developing and implementing the present rules and procedures for the valuation of securities.
- Assists in drafting the legislation and administers the statutes relating to the Health Benefits Program and the Supplementary Annuity Collective Trust.
- Acts as the representative of the Director on acturial matters.
- Prepare and directs the preparation of actuarial and other reports containing findings, conclusions and recommendations.
- Directs the establishment and maintenance of essential actuarial division records, reports and files.
- Will be required to learn to utilize various types of electronic and/or manual recording and computerized information system used by the agency, office, or related units.
Education
Graduation from an accredited college with a Bachelor's degree including twelve (12) semester hour credits in mathematics.
Experience
Four (4) years of actuarial work in a company or government regulatory agency, one (1) year of which shall have been in a supervisory capacity.
License
Possession of an Associateship by examination in the Society of Actuaries or in the Casualty Actuarial Society, possession of a Fellowship by examination in the Society of Actuaries of the Casualty Actuarial Society.
Appointee will be required to possess a driver's license valid in New Jersey only if the operation of a vehicle, rather than employee mobility, is necessary to perform the essential duties of the position.
Knowledge, skills and abilities
- Ability to learn to utilize various types of electronic and/or manual recording and information systems used by the agency, office, or related units.
- Ability to read, write, speak, understand, or communicate in English sufficiently to perform the duties of this position. American Sign Language or Braille may also be considered as acceptable forms of communication.
- Persons with mental or physical disabilities are eligible as long as they can perform essential functions of the job with or without reasonable accommodation. If the accommodation cannot be made because it would cause the employer undue hardship, such persons may not be eligible.