Actuarial Manager - Health

Ryan Specialty•Chicago, IL

9d•$144,000 - $180,000

About The Position

Position Summary . This role is responsible for executing on the primary goals of the area which ensure the achievement of financial goals by analyzing and forecasting potential risks, liabilities, and financial outcomes. This role will collaborate with underwriting, finance, and clinical teams in support of our goals. What will your job entail? Job Responsibilities: Maintenance and improvement of pricing and rating tools for existing programs including ongoing initiatives to enable standardization and automation across underwriting, data collection, and reporting Collaborate closely with the Underwriting team in the evaluation and determination of appropriate rates and factors for new and renewal business Work with the Finance and Underwriting teams to understand key costs drivers and trends in the business Work with carrier partners around program results and underwriting Develop and refine healthcare cost models, utilization trends, and risk assessments using advanced actuarial techniques Be a resource for the clinical team evaluating risks in the stop-loss market Work to improve portfolio management analytics shared with executive team. Product development – industry, peer, and market analyses to support new initiatives. Support initiatives to drive strategy around the use of technology, external data, and the collection and organization of enterprise data. Supports the development of innovative insurance products within the underwriting portfolio, leveraging market insights, customer needs, and emerging industry trends. Development and training of colleagues, as needed Maintains, expands, and applies knowledge of the insurance industry, actuarial trends, market conditions, and competitor information. Education/Experience/Skills: Bachelor's degree in actuarial science, mathematics, finance, statistics, economics or related field 6+ years of experience Minimum of an ASA designation from the Society of Actuaries (or equivalent) Ability to work independently to solve complex challenges Proficient with data manipulation, analytics, modeling, and visualization tools (e.g., SQL, SAS, Power BI, Tableau, R, Python) Strong interpersonal skills (written and verbal) Committed team player Strong attention to detail Ability to solve problems creatively by asking questions and exploring solutions Willingness to get involved at all levels / all aspects of the process as necessary Ryan Specialty is an Equal Opportunity Employer. We are committed to building and sustaining a diverse workforce throughout the organization. Our vision is an inclusive and equitable workplace where all employees are valued for and evaluated on their performance and contributions. Differences in race, creed, color, religious beliefs, physical or mental capabilities, gender identity or expression, sexual orientation, and many other characteristics bring together varied perspectives and add value to the service we provide our clients, trading partners, and communities. This policy extends to all aspects of our employment practices, including but not limited to, recruiting, hiring, discipline, firing, promoting, transferring, compensation, benefits, training, leaves of absence, and other terms, conditions, and benefits of employment. How We Support Our Teammates Ryan Specialty seeks to offer our employees a comprehensive and best-in-class benefits package that helps them — and their family members — achieve their physical, financial, and emotional well-being goals. In addition to paid time off for company holidays, vacation, sick and personal days, Ryan offers paid parental leave, mental health services and more. The target salary range for this position is $144,000.00 - $180,000.00 annually. The wage range for this role considers many factors, such as training, transferable skills, work experience, licensure and certification, business needs, and market demands. The pay range is subject to change and may be modified in the future. Full-time roles are eligible for bonuses and benefits. For additional information on Ryan Specialty Total Rewards, visit our website https://benefits.ryansg.com/. We provide individuals with disabilities reasonable accommodations to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment in accordance with applicable law. Please contact us to request an accommodation at [email protected] The above is intended to describe this job's general requirements. It is not to be construed as an exhaustive statement of duties, responsibilities, or physical requirements. Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions. A multi-time winner of Newsweek’s Most Loved Workplaces and Insurance Business’s Top Insurance Employers, Ryan Specialty is home to some of the brightest talent in the insurance industry. Join our team and help provide innovative solutions for insurance brokers, agents and carriers. Talent Network Not seeing the right job opening? To learn more about future opportunities Introduce yourself and join our talent network Benefits Curious about Ryan Specialty’s benefits? Explore our employee benefits here! Ryan Specialty, LLC and its affiliates (“Ryan Specialty”) do not accept unsolicited resumes or candidate profiles submitted by any staffing agencies, placement services or professional recruiters (“Agencies”), including any submissions made through our website or to email accounts of Ryan Specialty employees. Agencies must be registered in Ryan Specialty’s agency portal and have a fully executed contract for service between Ryan Specialty and the Agency. Agency fee agreements will only be valid if provided in such fully executed contract between Ryan Specialty and the Agency. Any unsolicited resume or candidate profile received from an Agency without prior approval from Ryan Specialty’s HR department and in compliance with Ryan Specialty’s candidate submission process shall be considered unsolicited, gratuitous and property of Ryan Specialty for recruiting purposes and, as such, is not subject to payment of any Agency fees.

Requirements

Bachelor's degree in actuarial science, mathematics, finance, statistics, economics or related field
6+ years of experience
Minimum of an ASA designation from the Society of Actuaries (or equivalent)
Ability to work independently to solve complex challenges
Proficient with data manipulation, analytics, modeling, and visualization tools (e.g., SQL, SAS, Power BI, Tableau, R, Python)
Strong interpersonal skills (written and verbal)
Committed team player
Strong attention to detail
Ability to solve problems creatively by asking questions and exploring solutions
Willingness to get involved at all levels / all aspects of the process as necessary

Responsibilities

Maintenance and improvement of pricing and rating tools for existing programs including ongoing initiatives to enable standardization and automation across underwriting, data collection, and reporting
Collaborate closely with the Underwriting team in the evaluation and determination of appropriate rates and factors for new and renewal business
Work with the Finance and Underwriting teams to understand key costs drivers and trends in the business
Work with carrier partners around program results and underwriting
Develop and refine healthcare cost models, utilization trends, and risk assessments using advanced actuarial techniques
Be a resource for the clinical team evaluating risks in the stop-loss market
Work to improve portfolio management analytics shared with executive team.
Product development – industry, peer, and market analyses to support new initiatives.
Support initiatives to drive strategy around the use of technology, external data, and the collection and organization of enterprise data.
Supports the development of innovative insurance products within the underwriting portfolio, leveraging market insights, customer needs, and emerging industry trends.
Development and training of colleagues, as needed
Maintains, expands, and applies knowledge of the insurance industry, actuarial trends, market conditions, and competitor information.