Manager of Actuarial Services

Job Description:

Summary:

The Manager of Actuarial Services is responsible for managing a team that preforms financial projections and actuarial analyses for complex projects in support of our organization’s diverse product portfolio. This role will oversee the development of actuarial assumptions and analysis of actuarial research to determine appropriate claim reserves and related liabilities, forecasts financial results; prepares financial reports; establishes insurance rates, rate structures, and rating systems; develops ad hoc and regulatory reports to various internal and external entities. This role ensures actuarial modeling is consistent with Actuarial Standards of Practice developed and promulgated by the Actuarial Standards Board.

Essential Accountabilities:

•    Oversees the development and maintenance of sound liability estimation methodologies. Manages recommendations for reserves for blocks of business and in total, organizes analyses to support recommendations.

•    Leads preparation of accruals/liabilities for CMS Part D risk sharing and Part C revenue settlements.

•    Leads preparation and submission of NYS Insurance Department quarterly and annual reports, including NAIC, NY Supplement and HMO Statements.

•    Leads preparation and submission of Regulation 146 and Direct Pay Stop Loss reports to the NYS Insurance Department.

•    Manages the development of financial plans, forecasts, and other financial projections.

•    Prepares, or obtains externally, actuarial statements of opinion for rate and product filings and financial statements for assigned business segments.

•    Leads preparation of Medicare Advantage bids and coordinates CMS bid review responses.

•    Recommends regional or product line profitability targets; ensures pricing is consistent with established targets for those business segments priced in actuarial.

•    Develops and maintains rates, rating factors and rate filings. Develops and maintains rating methods and models.

•    Provides guidance to the Health Plan product development process.

•    Oversees the development of competitive product and rate comparisons and analyzes competitive developments in the marketplace.

•    Monitors developments in actuarial techniques, researches laws and regulations applicable to actuarial science and insurance operations.

•    Provides counsel on current and proposed health plan Underwriting guidelines for commercial and Medicare eligible subgroups.

•    Consistently demonstrates high standards of integrity by supporting the Lifetime Healthcare Companies’ mission and values, adhering to the Corporate Code of Conduct, and leading to the Lifetime Way values and beliefs.

•    Maintains high regard for member privacy in accordance with the corporate privacy policies and procedures.

•    Maintains knowledge of all relevant legislative and regulatory mandates and ensures that all activities are compliant with these requirements.

•    Conducts periodic staff meetings to include timely distribution and education related to departmental and Ethics/Compliance information.

•    Regular and reliable attendance is expected and required.

•    Performs other functions as assigned by management.

Minimum Qualifications:

•    Bachelor’s degree in math, economics, actuarial science, or related field required.

•    Seven (7) years of actuarial experience.

•    Exam progression or professional credentials, such as ASA, FSA or MAAA preferred.

•    Prior experience supervising or managing people and/or projects or indirectly leading teams.

•    Advanced knowledge of financial and risk health arrangements.

•    Strong skills including proficiency in Microsoft Office, SAS and Cognos.

•    Strong verbal and written communication skills with the ability to present clear and concise information to all audiences.

•    Ability to design and implement process improvements.

•    Ability to translate technical concepts into business language.

•    A thorough understanding of non-Actuarial functions such as Rating & Underwriting, Finance, Provider Contracting, Network Management, Product Development, Medical Management, Marketing & Sales, etc. and how they impact Health Plan operations, financials and forecasts.

•    In depth understanding of Actuarial Standards of Practice developed and promulgated by Actuarial Standards Board.

Physical Requirements:

•    Ability to work prolonged periods sitting and/or standing at a workstation and working on a computer.

•    Ability to travel across the Health Plan service region for meetings and/or trainings as needed.

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One Mission. One Vision. One I.D.E.A. One you.

Together we can create a better I.D.E.A. for our communities.

At the Lifetime Healthcare Companies, we’re on a mission to make our communities healthier, and we can’t do it without you. We know diversity helps fuel our mission and that’s why we approach our work from an I.D.E.A. mindset (Inclusion, Diversity, Equity, and Access). By activating our employees’ experiences, skills, and perspectives, we take action toward greater health equity.

We aspire to reflect the communities we live in and serve, and strongly encourage people of color, LGBTQ+ people, people with disabilities, veterans, and other underrepresented groups to apply.

OUR COMPANY CULTURE:

Employees are united by our Lifetime Way Values & Behaviors that include compassion, pride, excellence, innovation, and having fun! We aim to be an employer of choice by valuing workforce diversity, innovative thinking, employee development, and by offering competitive compensation and benefits.

In support of the Americans with Disabilities Act, this job description lists only those responsibilities and qualifications deemed essential to the position.

Equal Opportunity Employer

Compensation Range(s):

Grade E10: Minimum $123,304 - Maximum $221,948

The salary range indicated in this posting represents the minimum and maximum of the salary range for this position. Actual salary will vary depending on factors including, but not limited to, budget available, prior experience, knowledge, skill and education as they relate to the position’s minimum qualifications, in addition to internal equity. The posted salary range reflects just one component of our total rewards package. Other components of the total rewards package may include participation in group health and/or dental insurance, retirement plan, wellness program, paid time away from work, and paid holidays. 

Please note: There may be opportunity for remote work within all jobs posted by the Excellus Talent Acquisition team. This decision is made on a case-by-case basis.

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.