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VP & Actuary, Health Insurance Valuation Job

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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:  Target $200k flexible to go higher DOE + 35% incentive
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.

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