About the position
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
• Evaluate information to determine the potential risks of certain events and their financial impact on the organization
• Analyze actual vs budgeted PMPM rates by Category of Service and evaluate the causes of healthcare expense patterns
• 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
• 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
• Become an internal SME on State Rate developments
• Analyze the rate book provided by the state to validate assumptions
• Assist the Actuarial Function in the creation of documented procedures to support Completion and IBNR
• Present and communicate complex statistical and mathematical information to others
• Develop and present strategies and solutions that manage risk and costs
Requirements
• 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
• Microsoft Office Package
• Communication- Verbal
• Organization
• Complex Problem Solving
• Time Management; Prioritization
• Written Communication; Reporting
• SQL
Nice-to-haves
• Experience with Financial Close Processes is preferred
• Experience supporting Health Plan is preferred
• Training/Presentation
Benefits
• 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