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Health Insurance Actuarial Curated Jobs List Dated March 5, 2019

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Welcome to a Curated Job List compiled by Mid America Search. This List of Jobs, which our Client organizations are seeking to fill, have one or more factors of commonality thus Mid America Search has compiled or curated this collection of Jobs into the List below. Trustfully, our efforts will enhance your efficiency and provide time well spent in studying the information.

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Product Performance Director, Medicare Advantage
Job# 2801
Location:  NE
Education Requirements:  Degree preferred.
Other Requirements:  Include:

  • Minimum Qualifications:
    • FSA, plus a thorough actuarial background.
    • Ability to incorporate actuarial expertise with the creativity necessary to effectively design and critique new products.
    • Knowledge of insurance products, pricing and marketing philosophies and objectives, risk management, and a broad background in the operations of insurance companies.
    • Leadership, communication and human relations skills.
    • Creativity, awareness of emerging environmental and industry trends, and strong problem-solving abilities using business-oriented solutions.
  • Preferred Qualifications:
    • Medicare Advantage and Prescription Drug Plan (PDP)) experience preferred.

Salary Range:  $150k to $210k DOE + 25% bonus
Description:  This individual manages activities to ensure the efficient, effective development of adequate Medicare Advantage and Prescription Drug Plan insurance product rates for company marketing and service efforts.  Also completes various reporting, projection and planning functions.  Duties and responsibilities include:

  • Plans, staffs, directs and controls department activities, including all personnel management functions such as budgeting for and controlling expenses, long and short range planning, interviewing and selecting applicants, training and development, work direction, appraising performance, administering salaries, transfers and promotions, and ensuring compliance with Corporate Affirmative Action guidelines.
  • Identifies and investigates profit and financial problems and opportunities as they relate to assigned product lines of the Companies to contribute to achievement of risk adjusted revenue and product line profitability goals with minimum adverse effect on third parties.
  • Develops actuarial assumptions while valuing or projecting various product lines.  May have an opportunity to assist in designing and developing new products for assigned product line that satisfy marketing objectives and are actuarially sound to support short and long-term profit objectives of the Company.
  • Directs monitoring and financial analysis of product line profitability (GAAP, value-added, statutory, etc.) because of the implementation of product pricing strategies for assigned product lines.
  • Monitors, facilitates and controls corrective actions with respect to experience loss ratios for product lines to contribute to achievement of revenue and product line profitability goals with minimum adverse effect on agents and policyholders.
  • Provides actuarial support to the product lines and continually assess product line ability as they respond to new challenges brought about by a new pending regulatory environment, including state and federal reform.
  • Remains current on new insurance products, procedures and regulatory reforms by actively participating in industry professional groups and various Company and state-sponsored committees.
  • Risk Management; Identifies and assesses risk in actuarial responsibilities.  Complies with actuarial standards of practice, precepts and enterprise risk management responsibilities.  Supports enterprise wide risk management initiatives.

VP & Actuary, Health Insurance Valuation
Job# 2770
Location:  Omaha, NE
Education Requirements:  Degree preferred.
Other Requirements:  Include:

  • Minimum Qualifications:
    • FSA, plus a thoroughly seasoned actuarial background.
    • Experience with Health Product pricing, projections or valuation.
    • Must meet or will work toward meeting Academy Specific Qualification standards for signing an NAIC Health Statement.
    • Ability to incorporate actuarial expertise with the creativity necessary to effectively design and critique new products.
    • Strong leadership, communication and human relations skills.
    • Creativity, awareness of emerging environmental and industry trends, and strong problem-solving abilities using business oriented solutions.
    • Working knowledge of Company products, pricing and marketing philosophies and objectives and a broad background in the operations of the Companies.
  • Preferred Qualifications:
    • Experience with Medicare Advantage.

Salary Range:  $180k to $225k DOE + short term incentive 35%, long term incentive 15%
Description:  The responsibilities for the VP & Actuary, Health Insurance Valuation include leading a team of actuaries and finance professionals to perform SAP, GAAP, and Tax valuation for the companies’ health products, which include Medicare Supplement, Medicare Advantage, Supplemental Heath Coverages (Cancer, CI, Hospital Indemnity, etc.), Individual Disability, Individual and Group Long Term Care, Special Risks and Workplace Products (LTD, Life, etc.).  The area is also responsible for reserve and asset adequacy analysis, valuation model ownership, best estimate and valuation assumption setting, as well as rating agency and SOA/AAA study support.  The area also partners with Business areas and Financial Planning and Analysis in variance analysis, planning and forecasting for the Health Lines.  Job duties and responsibilities also include:

  • Plans, organizes, staffs, leads and controls activities pertaining to actuarial studies including: planning projects and capital and human resource budgets; interviewing, selecting, and training managers; monitoring and appraising performance of direct reports to hold them accountable for end results including human resource management; coaching and motivating direct reports; administering disciplinary action as needed; administering compensation to direct reports; ensuring that the division complies with affirmative action guidelines.
  • Directs monitoring and financial analysis of product line profitability (GAAP, value-added, statutory, etc.) because of the implementation of product pricing strategies for assigned product lines.  Provide recommendations and report findings and business projections to senior management.
  • Directs all actuarial assumptions while valuing or projecting various product lines.  May have opportunities to design, develop and implement new products (product lines specific to department) that satisfy marketing objectives and are actuarially sound to support short and long-term profit objectives of the Corporation.
  • Oversees the investigation of profit and financial problems and opportunities as they relate to assigned product lines of the Companies to contribute to achievement of risk adjusted revenue and product line profitability goals with minimum adverse effect on third parties.
  • Oversees the determination of the expected financial impact, review and assess product line ability as they respond to new challenges brought about by a new pending regulatory environment, including state and federal reform.
  • Monitors, facilitates and controls corrective actions with respect to experience loss ratios for product lines to contribute to achievement of revenue and product line profitability goals with minimum adverse effect on agents and policyholders.
  • Remains current on new insurance products, procedures and regulatory reforms by actively participating in industry professional groups and various Company and state-sponsored committees.

Actuary (ASA/FSA) Axis Implementation
Job# 2794
Location:  NE
Education Requirements:  Degree preferred.
Other Requirements:  Include:

  • Minimum Qualifications:
    • ASA or FSA.
    • Could be an ASA working towards FSA or FSA level.
    • 3+ years of experience with GGY AXIS.
    • Thorough actuarial background, as well as thorough background in Actuarial Science, Math, Statistics, Economics and/or Computer Science.
    • Aptitude for statistical interpretation, a working knowledge of advanced actuarial assumptions and formulae and accounting practices.
    • Thorough financial background.
    • Strong oral and written communication and human relations skills.
    • Product and insurance industry knowledge.
    • Experience in the development of financial reports.
  • Preferred Qualifications:
    • 3+ years of experience with GGY AXIS relevant to LTC, DI, Medicare Supplement, or Supplemental Health modeling.
    • Knowledge of personal computer applications used for analysis.
    • Ability to teach or foster development in others.
    • Ability to manage others.

Salary Range:  ASA: $80k to $100k or FSA: $110k to $150k
Description:  Our Client is in a multi-year project to modernize their actuarial function.  It includes the actuarial systems, models, data, reporting, and processes.  The next step in this initiative involves building new data feeds and new actuarial models in GGY Axis to serve various actuarial functions (including valuation, financial plan, cash flow testing, economic capital, and asset liability management), and they are seeking a talented and energized individual to join in on these efforts.  This individual will make use of GGY Axis software and build actuarial models in an efficient, scalable, transparent, controlled, and accurate manner.  While the project includes building Axis models across all of our Client’s products, the preferential Axis experience for this job will be within the Health Module to support our Client’s Long Term Care, Disability Income, Supplemental Health, and Medicare Supplement workstreams.  The prime candidate for this role is one who has strong track records of success in building models, values transparency and communication, and enjoys working at a fast pace.  This job posting is reflective of the Managing Actuary essential functions and qualification requirements.  The Actuarial Associate level has variable essential functions and qualification requirements.  Competency and skill set will determine level of placement within the posted job family.  Duties and responsibilities include:

  • Fully dedicated project resource focused on actuarial modernization initiatives.
  • For each model responsible for, heavily involved in all phases of the build process:
    • Requirements gathering – For both data and model requirements, and with the support of subject matter experts, gather information necessary to build the model and extract.
    • Model Design – Participate in designing the ideal model structure for the given models, while adhering to holistic model design principals – focusing on scalable, transparent, controlled, and automated solutions.
    • Model Development – Translate model requirements into technical specifications and then perform the model build activities – focusing on attaining consistency across products, with a ‘first principles’ model build mindset rather than a conversion mindset.
    • Model Testing – Participate in various testing related activities across all impacted actuarial functions, including unit testing, regression testing, aggregate reconciliations, in accordance with agreed upon testing strategy for thresholds, variance bucketing, attribution, etc.
    • Documentation – develop documentation for new models and affected processes to a degree such that parties unfamiliar with our processes or models can understand how processes flow or how models operate.
    • Collaborate with project leadership, management team, subject matter experts, and product owners throughout project to ensure solutions are meeting stakeholder needs.
  • Complete tasks as assigned in the project plan, and track progress against milestones.  Complete work by milestone dates or communicate early and often if slippage is beginning to occur.
  • Risk Management; Identifies and assesses risk in actuarial responsibilities.  Complies with actuarial standards of practice, precepts and enterprise risk management responsibilities.  Supports enterprise wide risk management initiatives as they relate to actuarial modernization.

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