The Actuarial Analyst III is a key member of the Finance management team whose responsibility is to lead analyses to support Finance staff and the Chief Financial Officer in meeting corporate objectives.
KEY FUNCTIONS/RESPONSIBILITIES:
- Lead the rate development process by providing analyses and recommendation on benefit design, rating factors and projection of future claim cost
- Lead the reviews of the rate filings to Department of Insurance and the preparation of data for additional inquiry and requirements of the DOI
- Prepare analyses of regulatory mandate impacts on the projected claim cost
- Support in the preparation of risk adjustment analyses
- Participate in external and regulatory audits
- Lead the analyses and provides recommendation on reserves for various block of business
- Prepare monthly accruals and timely trend analyses for different block of business
- Lead in the analyses for financial forecasting , reforecast and other financial projections
- Responsible for adhoc analytics including modeling of benefit scenarios. Utilizes statistical applications as necessary
- Responsible for supporting corporate initiatives/projects that require analysis of health plan data
- Build financial and actuarial models and conduct statistical analyses such a risk sharing simulations
- Serve as data expert for department. Advises Finance department on data warehouse design, requests and works with IT to establish priorities
- Initiate and lead efforts to continually improve data quality and efficiency of various analyses and reporting
- Share knowledge and provide training to new employees
- Draw together various facts and inputs from various resources and summarizes and presents the information
- Reconcile and validate data from warehouse with Corporate Finance
- Develop Actuarial analysis concerning complex issues and understand different drivers of trends
- Maintain and build rating and financial forecasting models and ensure consistency and accuracy of the model
QUALIFICATIONS:
EDUCATION:
- Bachelor’s Degree in Mathematics, Actuarial Science, Finance, Economics or related field required
- Proficiency working with actuarial modeling, SAS and MS Excel
- Master’s Degree preferred.
- Successful completion of at least 4 or more Actuarial exams preferred
EXPERIENCE:
- At least 3-4 years of progressively responsible experience in actuarial analysis, data modeling, informatics and analysis. Commensurate educational experience in related field will be considered
- A background in managed healthcare, insurance operations preferred
COMPETENCIES, SKILLS, AND ATTRIBUTES:
- The Actuarial Analyst III is an experienced user of claims and membership data
- Working knowledge of MS tools, including MS Office products, MS Access, MS Project, SQL and SAS or other statistical software. Should be proficient in Microsoft Excel
- Analyst integrates external grouping methodologies such as DRG, ETG and DxCG in analytics
- Ability to meet deadlines, multi-task, problem solve and use appropriate technology to analyze business problems. Project management skills a plus
- Ability to work collaboratively with other departments
- Strong communications skills, both verbal and written, are required
*Qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, disability or protected veteran status.
Required Skills
Required Experience