Senior Actuarial Analyst Actuarial Economics

Corewell Health • Grand Rapids, MI

1d • Onsite

About The Position

The Senior Actuarial Analyst will work on the Actuarial Economics team. This job will require support of key business functions including monthly medical expense reserve valuation and reconciliation, medical trend analysis, medical expense budgeting and reporting, and experience analysis. This will include obtaining, analyzing, and summarizing data, developing and updating reserve models and databases, performing deep dive analysis, running regular trend reports, analyzing and interpreting results and communicating the results and initial recommendations to management and other departments.

Requirements

• Bachelor's Degree actuarial science or related discipline such as business, economics, statistics or math
• 2 years of relevant experience actuarial or related work experience in the health care industry
• Proficiency with Microsoft Office products (specifically Excel).
• Successful completion of 3+ actuarial exams (not including VEE)

Nice To Haves

• Thorough knowledge of generally accepted actuarial principles
• Thorough knowledge of factors that influence market and competitive conditions
• Basic understanding of financial statements (Balance Sheet, Income Statement, Cashflow).
• Understanding of accounting concepts of entries, reconciliations, and audit support.
• Experience with programming language (SQL); Basic writing and understanding of programming logic.
• Experience with data visualization software (preferably Microsoft Power BI).
• Self-motivated and curious about financial impacts, making data meaningful, and refining monthly processes.
• Flexible and able to adjust to changing data, data sources, and other health insurance market variables.
• Committed to the delivery of quality, accurate, and complete projects.

Responsibilities

• Obtain, prepare, and analyze claims information for use in developing the monthly medical expense reserve valuation.
• Maintain quality documentation for all work products.
• Develop and maintain reserve models to support internal valuation of Incurred But Not Reported (IBNR) Medical Costs.
• Develop models and assumptions for medical expense budgeting across all lines of business.
• Perform variance analysis of actual to budgeted results and summarize causes for variances.
• Perform research needed in areas such as claims development analysis, medical trend analysis, medical claims seasonality analysis, among others.
• Run reports, update databases, conduct research for the Actuarial Economics department.
• Make recommendations for streamlining and improving processes and implement approved changes.
• Make expected progress in the actuarial exams process, if applicable.
• Obtaining, preparing, analyzing, and consolidating data to forecast incurred but not received (IBNR) claims reserve within deadline for the monthly financial close.
• Manipulating large data sets including extraction, analysis, and presentation for actionable recommendations; making data meaningful to effectively tell a story.
• Performing deep dive analysis to understand trends and financial impacts.
• Creating reporting processes and dashboards.
• Refining processes to improve reliability and increase efficiency
• Collaborating with colleagues in other departments to further business knowledge.
• Coordination with internal and external auditors to provide required reporting.
• Interacting with management and other departments as needed to understand needs and present results.

Benefits

• Comprehensive benefits package to meet your financial, health, and work/life balance goals.
• On-demand pay program powered by Payactiv
• Discounts directory with deals on the things that matter to you, like restaurants, phone plans, spas, and more!
• Optional identity theft protection, home and auto insurance, pet insurance
• Traditional and Roth retirement options with service contribution and match savings

What This Job Offers

• Job Type: Full-time
• Career Level: Senior