Actuarial Director, Pricing
About The Position
The Actuarial Director, Pricing directs actuarial pricing and related services, ensuring accurate and reliable actuarial activities and sound risk analysis that support PacificSource’s financial and enrollment goals. The role develops and maintains pricing approaches for Commercial business and Medicare Advantage bids, supports financial and actuarial processes, and provides documented input on decisions affecting the risk assumed by the organization. The position provides leadership and supervision to a team of actuarial students, credentialed actuaries, and non-actuarial analysts. It guides team members on company policies, mandates, and workflow; oversees hiring, productivity, and work quality; and supports staff development and performance management. The director collaborates across the organization, contributes to strategic initiatives and committees, and promotes process improvement and continuous improvement practices. The role works inside in a general office setting with ergonomically configured equipment. Travel is required approximately 5% of the time.
Requirements
- At least six years of actuarial experience.
- At least three years of management experience.
- Baccalaureate degree in mathematics, statistics, actuarial science, or a related field.
- Enrolled as Fellow in the Society of Actuaries and active member in good standing of the American Academy of Actuaries.
- Ability to accomplish tasks accurately under pressure, determine priorities, and meet deadlines.
- Ability to identify and define problems, design and implement solutions, and monitor results in a continuous cycle.
- Ability to apply actuarial methods and modeling techniques.
- Ability to verify and document assumptions, justify analysis and recommendations with sound logic and actuarial principles, and adhere to Actuarial Standards of Practice.
- Ability to read and comprehend written and spoken English and communicate clearly and effectively.
- Physical ability to stoop and bend, sit and/or stand for extended periods, perform repetitive motions such as typing, sorting, and filing, and lift and carry files and business materials.
Nice To Haves
- Health experience is preferred.
Responsibilities
- Develop Commercial premium rates and Medicare Advantage bids through regular, systematic analysis that is actuarially sound, competitive, and aligned with organizational income goals.
- Prepare required rate filings, bids, supporting exhibits, actuarial certifications, memoranda, and statements of opinion.
- Direct development, implementation, and maintenance of Commercial rating and pricing models, coordinating with other departments on regulatory compliance and consistency with rating and underwriting policies.
- Support reserving, forecasting, and budgeting processes, including risk adjustment and risk-sharing payables and receivables, premium deficiency reserve evaluations, and year-end statement of actuarial opinion support.
- Work with the Actuarial Director of Health Economics to direct analysis of risk, cost, and utilization and align pricing assumptions with enterprise cost management activities.
- Lead and supervise actuarial students, credentialed actuaries, and non-actuarial analysts; assist with hiring, staff development, coaching, performance reviews, corrective actions, and termination.
- Provide regular feedback, one-on-ones, and performance evaluations to direct reports, and stay informed about actuarial curriculum and requirements to propose student-program updates as needed.
- Assist in developing department budgets.
- Coordinate business activities and maintain collaborative partnerships with Underwriting, Product Development, Sales, and Finance.
- Participate in strategic and internal committees, disseminate information, and represent company philosophy.
- Support Medicare Advantage and Commercial P&L owners with input on operational and strategic initiatives related to company financial loss-ratio goals.
- Improve processes across departments and promote use of lean methodologies for continuous improvement within the department.
- Participate in the design and execution of research activities performed within PacificSource.
- Meet department and company performance and attendance expectations.
- Follow PacificSource privacy policy and HIPAA requirements concerning confidentiality and security of protected health information.
- Perform other duties as assigned.
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What This Job Offers
Job Type
Full-time
Career Level
Director
