What are the responsibilities and job description for the Actuarial Analyst - Associate position at Independent Health?
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Overview
The Actuarial Analyst-Associate will provide a full scope of actuarial and statistical analyses supporting both internal and external customers. The Actuarial Analyst-Associate will develop a deep understanding of PBD business and goals to best match our products and services with our customer’s needs. They will use logic and analytic skills to perform client analyses in response to specific business questions and be able to communicate the findings, including methodology and estimated outcomes. The position will require working in collaboration with other team members and business units throughout the organization including supporting the sales process by analyzing prescription benefit data and providing recommendations to achieve business goals. This position will develop efficient processes and apply actuarial techniques and statistical analysis to several functions, including pricing development, claim trend analysis, profitability analysis, predictive modeling, or financial forecasting.
Qualifications
- Bachelor’s degree required in Mathematics, Statistics, Actuarial Sciences or related field. Master’s degree preferred.
- One (1) year of Actuarial or related experience preferred (ex. internship).
- Completion of at least one Society of Actuaries exam preferred.
- General understanding of actuarial concepts, functions, and processes.
- Understanding of basic health care concepts and products, and general understanding of the health care environment.
- Proficient PC skills in a Windows environment. Advanced knowledge of Excel, SAS, and other analytic or query tools preferred. Programming and coding experience preferred.
- Ability to handle data sources, filter and assess data quality, and recognize data patterns required. Strong problem-solving skills required.
- Excellent oral and written communication skills. Self-motivation and initiative, as well as an ability to perform under pressure. Strong interpersonal skills. Strong organizational skills and ability to prioritize, multitask, and work in fast paced environment.
- Proven examples of displaying the PBD values: Passionate, Caring, Respectful, Trustworthy, Collaborative and Accountable.
Essential Accountabilities
- Complete monthly rebate reporting and provide finance department with both monthly reporting and revenue calculations.
- Prepare data and analyze for regulatory reporting and for audits.
- Support budget development process including forecasting and actual to budget comparison. Communicate with internal departments to support budget preparation. Assess and validate budgetary assumptions.
- Utilize forecasting techniques to estimate the impact of pricing changes.
- Provide financial support for prospect contract negotiations and respond to RFP financial requests.
- Work with Sales and Account Management in creating pricing and product positioning.
- Provide analysis and reporting for financial and regulatory requirements including but not limited to ROI, product performance, provider and vendor relationships, and audit support.
- Perform actuarial analysis and modeling including but not limited to reserves, pricing, and forecasting
- Prepare Actuarial Memorandums, Actuarial Attestations and filing materials, as needed in accordance with the Actuarial Standards of Practice.
- Work with Finance to provide reports for various financial statement items.
- Support analysis of regulatory changes and the impact on product profitability.
- Assist in the preparation of ad hoc financial and analytical reports.
- Monitor timeliness and accuracy of responsibilities under assigned book of business.
- Support analysis of regulatory changes and the impact on product profitability.
- Monitor product performance and focus on what is driving cost and utilization.
- Develop ad hoc reports as a supplement to routine management reports through query building and data extraction.
- Propose and assist in development of process improvements and automation within the department.
- Ensure overall data integrity.
- Participate in projects and cross functional teams.
Immigration or work visa sponsorship will not be provided for this position
Hiring Compensation Range: $65,000 - $80,000 annually
Hiring Compensation Range: $65,000 - $80,000 annually
Compensation may vary based on factors including but not limited to skills, education, location and experience.
In addition to base compensation, associates may be eligible for a scorecard incentive, full range of benefits and generous paid time off. The base salary range is subject to change and may be modified in the future.
As an Equal Opportunity / Affirmative Action Employer, Independent Health and its affiliates will not discriminate in its employment practices due to an applicant’s race, color, creed, religion, sex (including pregnancy, childbirth or related medical conditions), sexual orientation, gender identity or expression, transgender status, age, national origin, marital status, citizenship and immigration status, physical and mental disability, criminal record, genetic information, predisposition or carrier status, status with respect to receiving public assistance, domestic violence victim status, a disabled, special, recently separated, active duty wartime, campaign badge, Armed Forces service medal veteran, or any other characteristics protected under applicable law.
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Current Associates must apply internally via the Job Hub app.
Salary : $65,000 - $80,000
