Senior Actuarial Associate - Medicaid
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. With sound professional judgment, the associate explains results to stakeholders, resolves analytical issues, contributes to process improvements, and serves as a resource for less experienced analysts. The position conducts experience studies, reserve analyses, projections, pricing analyses, rate indications, and financial evaluations. It develops and enhances actuarial models and tools, validates model reliability, and improves automation in recurring processes. The role also evaluates utilization, cost, market, and emerging risks, and translates actuarial findings into business implications for cross-functional partners. This is an office role requiring onsite work at Medica’s Minnetonka, Minnesota office an average of three days per week. Medica does not offer work visa sponsorship; candidates must be legally authorized to work in the United States at application, and employment is contingent on verification of identity and work eligibility.
Requirements
- Bachelor's degree or equivalent experience in a related field.
- At least 5 years of work experience beyond 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.
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 that assess 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.
Benefits
- Competitive medical, dental, and vision coverage.
- PTO and holidays.
- Paid volunteer time off.
- 401(k) contributions.
- Caregiver services.
- Other benefits supporting employees.
Stand Out From the Crowd
Upload your resume and get instant feedback on how well it matches this job.
What This Job Offers
Job Type
Full-time
Career Level
Senior
