Actuary IV

Medica • Minnetonka, MN

2d • Hybrid

About The Position

Medica is a nonprofit health plan with more than a million members that serves communities in Minnesota, Nebraska, Wisconsin, Missouri, and beyond. We deliver personalized health care experiences and partner closely with providers to ensure members are genuinely cared for. We're a team that owns our work with accountability, makes data-driven decisions, embraces continuous learning, and celebrates collaboration — because success is a team sport. It's our mission to be there in the moments that matter most for our members and employees. Join us in creating a community of connected care, where coordinated, quality service is the norm and every member feels valued. Analyze and evaluate the likelihood of future events in order to reduce and manage future risks. Complete and interpret actuarial analysis, valuations, cost estimates, and modeling using statistical programming and database tools. Perform rate level pricing functions and prepare monitoring reports on program or product pricing Measure historical relationships to develop forecasts and identify trends. Performs other duties as assigned.

Requirements

• Bachelor's degree or equivalent experience in related field
• 7 years of work experience beyond degree
• FSA Achieved OR demonstrated performance over multiple years under the supervision of a qualified actuary
• Advanced proficiency in actuarial science, including modeling, forecasting, pricing, and statistical analysis
• Strong working knowledge of actuarial software and data tools (e.g., Excel, SQL, SAS, R, Python) and ability to work with large, complex datasets
• Demonstrated ability to design and refine actuarial models with minimal supervision
• Ability to independently diagnose analytical issues, validate assumptions, and identify meaningful trends in data
• Skill in developing innovative, data‑driven solutions to address emerging business needs
• Strong judgment in selecting appropriate techniques and methodologies
• Ability to translate complex concepts into clear, concise messages tailored to non‑technical stakeholders
• Effective presenter with experience communicating findings to leadership, project teams, and cross‑functional partners
• Strong interpersonal skills and ability to influence outcomes through credible, evidence‑based recommendations
• Demonstrated ability to mentor, coach, and develop less experienced analysts
• Skilled at leading components of complex projects with autonomy and accountability
• Collaborative approach with the ability to build strong relationships across departments
• Eligibility to work in the US: Medica does not offer work visa sponsorship for this role. All candidates must be legally authorized to work in the United States at the time of application. Employment is contingent on verification of identity and eligibility to work in the United States.

Responsibilities

• Actuarial Analysis & Modeling Conduct advanced actuarial analysis, valuations, cost estimates, and forecasting using statistical programming tools and complex datasets Develop, maintain, and enhance actuarial models to support pricing strategies, financial projections, risk assessments, and trend identification Evaluate historical experience to determine key drivers of performance and produce credible, data‑driven forecasts
• Pricing & Financial Support Perform advanced rate‑level pricing functions and support the development of premium recommendations across products or programs Prepare and interpret monitoring reports that assess pricing adequacy, utilization patterns, and cost trends Provide analytical support for financial planning, budgeting, and other strategic initiatives
• Thought Leadership & Technical Guidance Serve as a subject matter expert to peers and cross‑functional partners, offering guidance on actuarial methods, modeling techniques, and best practices Lead components of complex projects with autonomy, including providing direction to junior staff to achieve unit and department goals Develop and recommend enhanced approaches, methodologies, or tools to improve accuracy, efficiency, or process reliability
• Cross‑Functional Collaboration & Communication Translate complex actuarial findings into clear, actionable insights for business partners, including Finance, Product, Network, and Executive teams Present analytic conclusions and recommendations to leadership, influencing decisions related to pricing, risk mitigation, and product strategy Collaborate with stakeholders to ensure alignment on assumptions, methodologies, and financial implications
• Compliance, Standards & Quality Assurance Ensure all actuarial work complies with applicable regulatory requirements, Actuarial Standards of Practice (ASOPs), and internal governance expectations Maintain thorough documentation of assumptions, methods, and outcomes for audit readiness and organizational transparency Uphold high standards of accuracy and professional integrity to minimize risk exposure and ensure credible outcomes

Benefits

• competitive medical, dental, vision, PTO, Holidays, paid volunteer time off, 401K contributions, caregiver services and many other benefits to support our employees.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 1,001-5,000 employees