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 a remote position, working from home and coming into the office occasionally for in-person meetings with leadership and/or team members.
This position is fully remote. The selected candidate must reside in North Carolina.
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
$69,592 -$88,729/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
Bachelor's degree in actuarial science, mathematics, business, or related field; 3+ years actuarial experience; passed at least 2 SOA exams; SQL and Microsoft Office proficiency; must reside in North Carolina.
Key Responsibilities
- analyzing data
- modeling financial risk
- developing exhibits
Skills & Tools
SQL, Microsoft Office
Job Details
- Category: Data and Analytics
- Seniority: Mid Level
- Commitment: Full Time
- Workplace: Remote — North Carolina, United States
- Salary: USD 69,592 – 88,729 / year
- Languages: English
Benefits
- Generous paid time off
- Retirement plan
About Alliance Health
A health plan organization providing actuarial and financial risk assessment services. — Industry: Healthcare