Actuarial Associate

The Actuarial Associate will analyze and interpret data related to cost, membership, capitation, Rate-setting, Incurred But Not Reported (IBNR) and other items as needed. They will use SQL/excel etc. to model data and assess financial risk and help develop exhibits to assist in the socialization of financial outcomes. The Actuarial Associate will also serve as a subject matter expert to internal and external stakeholders and partner with teams to produce actionable insights.

This position is full-time remote. Selected candidate must reside in North Carolina. Some travel for onsite meetings to the Home office may be required for meetings.

Responsibilities & Duties

Risk Assessment and Modeling

• Evaluate information to determine the potential risks of certain events and their financial impact on the organization
• PMPM Development / Monitoring - Analyze actual vs budgeted PMPM rates by Category of Service and evaluate the causes of healthcare expense patterns

IBNR Calculations

• Support the development, maintenance, and preparation of IBNR models, lag schedules and liability calculations
• Adjust and refine IBNR models based on changes in the organization, the environment, or additional risks that may arise

Value-Based Contracts

• Assist in the development of Value Based Contract assessment and reporting
• Undertake financial reconciliation for risk sharing agreements
• Evaluate feasibility / opportunity for ‘New’ VBC arrangements

Rate Setting

• Become an internal SME on State Rate developments
• Analyze the rate book provided by the state to validate assumptions

Documentation and Process

• Assist the Actuarial Function in the creation of documented procedures to support Completion and IBNR

Socialization and Presentation

• Present and communicate complex statistical and mathematical information to others
• Develop and present strategies and solutions that manage risk and costs

Minimum Requirements

Education & Experience

Required :

Bachelor’s Degree in Actuarial Science, Mathematics, Business, or related field from an accredited college/university and at least three (3) or more years of related experience in an Actuarial capacity

Candidate applying for this job is required to have passed at least 2 Society of Actuary (SOA) Actuarial Examinations

Preferred :

Experience with Financial Close Processes is preferred

Experience supporting Health Plan is preferred

Knowledge, Skills, & Abilities

• Training/Presentation
• Microsoft Office Package
• Communication- Verbal
• Organization
• Complex Problem Solving
• Time Management; Prioritization
• Written Communication; Reporting
• SQL

Employment for this position is contingent upon a satisfactory background and credit check, which will be performed after acceptance of an offer of employment and prior to the employee's start date.

Salary Range

$79,425-$101,267/Annually

Exact compensation will be determined based on the candidate's education, experience, external market data and consideration of internal equity.

An excellent fringe benefit package accompanies the salary, which includes:

• Medical, Dental, Vision, Life, Long Term Disability
• Generous retirement savings plan
• Flexible work schedules including hybrid/remote options
• Paid time off including vacation, sick leave, holiday, management leave
• Dress flexibility