Managing Actuary – Supplemental Benefits
About The Position
The Managing Actuary provides leadership and direction to ensure team goals and strategies are successfully achieved. This role is responsible for pricing, forecasting, reserving, and other actuarial processes, including the development of key assumptions and evaluation of financial experience and trend drivers. The position involves managing the development and maintenance of actuarial models to support key business goals and initiatives, such as actual to expected experience reporting, actuarial reserves and accruals, bid pricing/rate filings, forecasting, and contracting models. The Managing Actuary will own the actuarial processes for assigned lines of business, including interactions with external vendors and potentially federal and state agencies for rate filings. A specific function may require overseeing the development and review of Incurred But Not Reported (IBNR) reserve estimates.
Requirements
- Bachelor's degree in actuarial science, mathematics, economics or a related field or equivalent years of relevant work experience is required.
- Associate of the Society of Actuaries (ASA) is required.
Nice To Haves
- Prior experience with supplemental benefits (dental, vision, hearing, etc.) preferred.
- Two to three (2 to 3) years or more of management experience is preferred.
- Two to three (2 to 3) years or more of actuarial experience is preferred.
- Strong database (SQL, SAS or Access) experience is preferred.
- Managed care or healthcare experience is preferred.
- Fellow of the Society of Actuaries (FSA) is preferred.
- Knowledge of SQL, SAS, R, Python or other data manipulation software.
Responsibilities
- Lead a small team of actuaries ensuring compliance with applicable Actuarial Standards of Practice and supporting their training and personal development.
- Responsible for pricing, forecasting, reserving or other actuarial processes including development of key assumptions, as well as evaluation of financial experience and trend drivers.
- Develop and communicate actionable and strategic recommendations to leadership in support of company goals.
- Manage the development and maintenance of actuarial models to support key business goals and initiatives, such as actual to expected experience reporting, actuarial reserves and accruals, bid pricing/rate filings, forecasting, and contracting models.
- Own the actuarial processes being managed (i.e., rate/bid filings, pricing, forecasting, reserving) within the company and with external vendors for assigned lines of business.
- Perform baseline analysis on expectations of rate changes for future years and work with federal and state agencies to support rate filings and other relevant activities.
- Oversee development and review of Incurred But Not Reported (IBNR) reserve estimates for all CareSource lines of business on a monthly basis.
- Perform any other job related instructions as requested.
Benefits
- Substantial and comprehensive total rewards package
- Bonus tied to company and individual performance
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What This Job Offers
Job Type
Full-time
Career Level
Manager
