Lead Actuary
About the Role
The Actuary is directly involved with the gain and loss equation for the Enterprise. Primary responsibilities include rate-making for risk-assumption products and setting liabilities for those products at all financial reporting points. This role determines profitability parameters through cost-based alignment of expected costs versus product price and performs scorekeeping by aligning these factors retrospectively.
Requirements
- Bachelor’s degree in Mathematics, Actuarial Science, Statistics, Economics, Computer Science, Business, or other quantitative-related field.
- Associate in the Society of Actuaries (ASA) required.
- Member in the American Academy of Actuaries (MAAA) required.
- Minimum ten (10) years of actuarial experience, with a majority in healthcare and demonstrated progression in the Actuary track.
- Proficient experience using relational databases, statistical packages, spreadsheet, and/or database applications.
- Experience in rate-making, valuation of assets and liabilities, and experience studies for multiple product types.
- Experience leading Division/Enterprise projects, including managing Data Analysts, Actuarial Analysts, Actuaries, and/or interns.
- Advanced knowledge of the healthcare financing industries with emphasis on managed-care delivery models.
Skills
- Mathematical Reasoning
- Critical Thinking
- Detail-Oriented
- Oral & Written Communication
- Microsoft Excel
- Data Analysis
- Microsoft Access VBA
- Stress Management
- Analytical Problem Solving
- Sound Judgment
- Self-Motivation
- Mentorship
- Leadership
- Time Management
- Active Listening
- Business Compliance
- Collaborative Communications
- Continuous Learning
- Cross-Functional Planning
- Deductive Reasoning
- Economics
- Interpersonal Relationship Management
- Microsoft Office
- Microsoft Power Business Intelligence (BI)
- Microsoft PowerPoint
- Reading Comprehension
- Researching
- R Programming
- Statistical Analysis Software (SAS)
- Structured Query Language (SQL)
- Tableau
Responsibilities
- Collaborates with internal and external partners to solve complex issues.
- Compiles, analyzes, and/or develops essential data for Enterprise objectives.
- Designs, tests, and evaluates models to further Enterprise goals, including minimizing risk and/or maximizing profitability.
- Develops controlled processes and reliable calculations for liability estimates (IBNR, risk adjustment, provider incentive payments, etc.).
- Estimates projections for pricing, reserves, and/or cash flow purposes, especially to determine rate accuracy.
- Forecasts product performance and analyzes variances from previous forecasts to identify emerging trends.
- Manages projects as requested, especially as they relate to Enterprise objectives and Actuarial Division improvements.
- Mentors and develops Actuaries, Actuarial Analysts, and Data Analysts, including supervising work projects as assigned.
- Presents actuarial models, exhibits, and forecasts to internal and external customers.
- Represents the Actuarial Division and profession with competency and professionalism to internal and external stakeholders.
- Provides actuarial advice to upper-level management and communicates recommendations clearly and confidently.
- Provides timely and accurate information demonstrating compliance with federal and state regulations.
- Serves as the Division expert on all actuarial matters related to assigned product(s).
- Supports development of new products and services for the Enterprise.
- Works with and mentors Data Analysts and Actuarial Analysts, fostering an environment that encourages learning.
Security & Compliance
This position is identified as level three and must ensure the security and confidentiality of records and information to prevent substantial harm, embarrassment, inconvenience, or unfairness to individuals. The integrity of information must be maintained as outlined in the company Administrative Manual. Segregation of duties will be enforced to prevent or detect errors or irregularities on a timely basis.
Employment Type: Regular