Comments are off for this post
← Back to Jobs Page

SAIF Corporation
  • Full Time
  • Salem
  • $11,210- $14,945/mo


Our chief actuary needs to be multitalented: a strategic thinker with the ability to understand and interpret all that finance and data stuff, and the skill to explain it in plain language to executives, board members, and other people who aren’t number geeks.

How high-level is this position? They manage the loss reserving process and review the statutory financial statement; oversee the actuarial ratemaking and rate filing process; set the rates for large accounts; maintain the economic capital model and make recommendations to the CFO, executive team, and board on surplus levels; manage SAIF’s reinsurance program; perform actuarial analysis and advise executives and managers; and work with the board-appointed actuary.

All of which means you need to be a visionary who has a broad understanding of, and experience in, all parts of the insurance industry. (Workers’ comp experience helps, but isn’t required.) Membership in the CAS (FCAS or ACAS) is required. You also need exceptional communication skills and experience managing a team.

Note: If you have P&C actuarial experience but not at the chief actuary level, please consider applying so we can add you to our actuarial candidate pool.


  • Oversee the development of reasonable loss and loss adjustment expense reserves, pricing, reinsurance, forecasting, and analysis using industry and professional standards and actuarial techniques, such as those promulgated by the Casualty Actuarial Society, American Academy of Actuaries’, and other applicable professional organizations.
  • Review and oversee the preparation of the required quarterly and annual financial statement entries, schedules, and footnotes, associated with loss reserves, premium reserves, and reinsurance. Attest to the proper and accurate recording and reporting of these balances, schedules, and footnotes in the financial statements and related reports.
  • Work with the Board of Director’s appointed actuary who issues the Statement of Actuarial Opinion, communicate the results of the analyses, and advocate recommendations to management and external users such as insurance departments, outside actuaries, and auditors.
  •  Lead the actuarial rate-making process and work with underwriting division management to develop and file sound rate filing recommendations. Set the rates for large accounts and monitor the parameters for SAIF’s retrospective rating plans.
  • Support the preparation of financial forecasts and surplus analysis utilizing SAIF’s economic capital model along with benchmarking and risk-based capital considerations, to assist senior leadership decision making to maintain SAIF’s long-term financial strength.
  • Manage SAIF’s reinsurance program to establish retentions and limits and direct the reinsurance brokers in purchasing the required coverage. This includes managing the claim reporting process, commutations, and the calculation of reserves for financial statements.
  • Work with business partners to test and validate the quality of data, assumptions, controls, and work product used in actuarial analyses.
  • Oversee policyholder dividend distribution formulas to ensure dividends are awarded in line with statutory requirements in the event the Board declares a dividend.
  • Facilitate and respond to regulatory audits.
  • Manage staff by utilizing the performance management process, clarifying job responsibilities and performance expectations, establishing goals and job competencies, identifying skill gaps, creating development plans, coaching on a continuous basis, and evaluating performance. Responsible for the hiring and termination of employees and determining wage/salary levels within SAIF policy guidelines.
  • Lead and advise senior leadership and the Board through complex and high impact decision making in areas such as reserving, surplus analysis, policyholder dividend recommendation, and reinsurance utilizing effective communications, reporting, and presentations.
  • Manage research and analysis and the interpretation and delivery of information to internal and external customers, including the Board of Directors, to inform decisions for the effective management of business operations.
  • Oversee SAIF’s actuarial program including the professional development of SAIF’s CAS members and actuarial students.
    Prepare operational budget, monitor expenditures throughout the year, and manage variances to ensure budgetary guidelines are met while upholding high standards of customer service excellence.
  • Advise and assist business partners with actuarial and mathematical techniques and complete analytical assignments to support business decision making.
    Provide actuarial guidance to support SAIF’s advanced analytics modeling initiative.



The following qualifications are recommended:

  • Ten or more years of actuarial experience with increasing responsibilities and significant leadership experience.
  • Workers’ compensation experience preferred, but not required.
    Bachelor’s degree in actuarial science, mathematics, finance, economics, or a related field
  • Membership in the Casualty Actuary Society (FCAS, or ACAS for exceptional candidates).
  • Other combinations of education and experience that demonstrate the knowledge, skills, and abilities required to perform the job also will be considered.


Next Steps

To receive consideration, please submit your SAIF Application for Employment by the close of this recruitment. We want your application to count, so be sure it’s complete and that you submit all the required materials.



Qualifying veterans and disabled veterans may obtain preference in employment by submitting the following documentation as verification of eligibility:

  • A copy of the Certificate of Release or Discharge from Active Duty (DD Form 214 or 215), or
  • A letter from the U.S. Department of Veterans Affairs indicating receipt of a non-service connected pension.
  • Disabled veterans also must submit a copy of their veteran’s disability preference letter from the Department of Veterans Affairs, unless the information is included in the DD Form 214 or 215.

To be considered for preference, you must submit the proper documentation to moc.fiasnull@sboj by the application deadline.

This recruitment will be open until filled; we will interview candidates as applications come in, so don’t wait to apply.

About us

SAIF Corporation is Oregon’s not-for-profit, state-chartered workers’ compensation insurance company. SAIF has been doing business for over 100 years and is the leading workers’ compensation insurance provider in Oregon.

Learn more about the opportunities and benefits of working at SAIF. Visit our website  or see our Facebook page.

SAIF is an Equal Opportunity Employer that values diversity in its workplace.

To apply for this job please visit the following URL: →

☆ Dont forget to tell your interviewer that you heard about this opportunity from the Urban League of Portland ☆