Actuarial Assistant

About the role

Assists the Actuarial Manager and Data Manager in conducting research, compiling information, and performing mathematical & statistical analysis to develop ratings and prepare experience reports.

Key responsibilities

• Compile demographic information and health histories of members in client organizations to develop recommended premium rates for applicable A&H plan coverages
• Work on pricing research studies including experience analyses and book of business studies
• Extract information from the company's database to analyze claims processed for clients whose contracts are due for renewal or clients requesting information, and calculate loss experience based on plan history
• Recommend appropriate rate adjustments using loss rate experience and manual rate tables according to prescribed methods and procedures
• Develop information for the company's financial reports and extract data from the company's database to calculate IBNP (incurred but not paid) factors
• Calculate loss ratio experiences and other underwriting results as specified, and prepare MLR reports and Experience Refund Statements
• Work on rate filings for regulatory agencies and annual compliance reports such as Prescription Drug Data Collection (RxDC) and Gag Clause Prohibition Compliance Attestation
• Adhere to the company's policies and procedures regarding compliance with the Health Insurance Portability and Accountability Act of 1996 (HIPAA) and amendments thereto
• Safeguard the confidentiality, privacy and security of the health information of the company's clients
• Advise management regarding actual or potential infringements of associated policies and procedures

About you

• Bachelor's degree in mathematics or statistics or comparable field of study from an accredited college or university
• Ability to read, analyze, and interpret common scientific and technical journals, financial reports, and legal documents
• Ability to write reports and articles that conform to prescribed style and format
• Ability to effectively present information to top management and/or boards of directors
• Ability to apply mathematical and statistical operations to such tasks as frequency distributions, correlation techniques, sampling and credibility theory, factor analysis and trend analysis
• Ability to define problems, collect data, establish facts, and draw valid conclusions
• Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables
• Proficiency at handling databases, spreadsheets and report software and applications
• Work experience with an HMO or health insurance company is preferred but not required
• Programming knowledge is preferred but not required