Senior Actuarial Associate - Medicaid

Health insurance that's with you, every step of the way.•Minnetonka, MN

2d•Hybrid

About The Position

The Senior Actuarial Associate independently performs moderately complex actuarial analyses that inform pricing, forecasting, valuation, and risk management decisions. The role applies established actuarial expertise to develop assumptions, evaluate trends, and produce insights that support business performance. It requires sound professional judgment, the ability to explain results to stakeholders and resolve analytical issues, and contributions to process improvement. The position also serves as a resource for less experienced analysts. This is an office role based at Medica’s Minnetonka, Minnesota office, with onsite work required an average of three days per week. The full salary grade is $88,800–$152,300, with a typical hiring range of $88,800–$133,245. Salary placement depends on factors including education, work experience, certifications or licensure, role scope and responsibility, internal pay equity, and external market data. Medica does not offer work visa sponsorship, and candidates must be legally authorized to work in the United States at the time of application.

Requirements

Bachelor's degree or equivalent experience in a related field.
At least 5 years of work experience beyond the degree.
Strong written and communication skills.
Database experience with SQL, SAS, R, or Python.
Associate of the Society of Actuaries (ASA), or near-ASA with additional years of experience.
Must be legally authorized to work in the United States at the time of application; work visa sponsorship is not offered.

Responsibilities

Conduct experience studies, reserve analyses, and projections using sound actuarial methods.
Develop and refine assumptions based on historical data and emerging trends.
Prepare actuarial financial evaluations with clear documentation and defensible methodologies.
Produce forecasts independently, highlighting risks and uncertainties.
Review quarterly financial reporting for accuracy and reasonability.
Develop pricing analyses and rate indications aligned with financial and regulatory requirements.
Prepare and interpret monitoring reports assessing pricing performance.
Analyze variance drivers and communicate findings to team members.
Recommend data-supported adjustments based on observed experience.
Build and enhance models using SQL, R, Python, or similar tools.
Perform validation testing to ensure model reliability and robustness.
Improve automation and efficiencies in recurring actuarial processes.
Document model logic, assumptions, and limitations clearly.
Evaluate utilization, cost, and market risks using scenario and sensitivity analysis.
Quantify financial impacts of proposed changes or emerging trends.
Summarize results in clear narratives and visualizations.
Collaborate with senior actuaries to refine risk assessments.
Explain actuarial results and methodologies to cross-functional partners.
Translate actuarial findings into business implications to support projects.
Mentor Actuarial Analyst I staff on methods and tools.
Contribute ideas to strengthen analytical quality and workflow efficiency.