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Medicare Advantage Actuary in Lansing, MI at AF Group

Date Posted: 4/22/2018

Job Snapshot

Job Description



SUMMARY:



This position works with senior leadership to support Emerging Markets' profitable growth and effective use of capital through advanced actuarial analyses and reporting on risk, financial metrics, capital, reinsurance, and other topics in order to support strategic decision making. Strong analytical and communication skills are required. This role is comprised of two focus areas: capital management and corporate actuarial. Role spans all areas of Emerging Markets, including P&C and health insurance segments.

Capital management measures key risks from both an internal perspective and a ratings agency perspective, by simulating the impact of key risks on financial results. Capital model results assist in allocating capital, establishing profitability targets, and incorporate consideration of risk and volatility into annual business plans. Capital management also includes monitoring exposure for adherence to corporate risk tolerances.

Corporate actuarial serves as a consulting actuary by linking technical work to practical insights; it is responsible for the development and management of strategic pricing and forecasting architecture for Medicare related products and services in COBX. This position designs, leads and performs advanced financial and actuarial analyses in support of department objectives, and undertakes special projects and ad hoc problem solving.

This position requires strong understanding of insurance and business operations within Emerging Markets including, AF Group and COBX.

RESPONSIBILITIES/TASKS by FOCUS AREA

Capital Management


  • Maintains the capital model by recommending and implementing enhancements and working with business leaders to update its parameterization.
  • Determines aggregate enterprise capital requirements through application of corporate risk tolerances.
  • Allocates capital to business segments and effectively communicates drivers of capital requirements and allocation results.
  • Determines profitability targets for business segments and effectively communicates results and methodology.
  • Supports enterprise risk management stress testing through the development of key risk scenarios to illustrate potential adverse risk outcomes, the resulting impact to key metrics, and impact of mitigation strategies.
  • Performs cost-benefit analysis comparing results of initiatives to capital costs, considering both financial results and strategic goals.
  • Analyzes data and presents analysis in an appropriate format. Effectively communicates, makes recommendations, and presents analysis to appropriate personnel.
  • Prepares commentary for executive management regarding risk trends, volatility, capital adequacy, risk-adjusted profitability, strategic recommendations, and pricing decisions, including potential causes and mitigation efforts.
  • Monitor risks, risk factors, and trends and makes recommendations to take corrective action as necessary.
  • Support enterprise risk management reporting, including scorecards, snapshots, and own risk solvency assessments.

    Corporate Actuarial:


  • Monitor, forecast, and communicate trends and risks across Emerging Markets.
  • Provide analytical support for strategy and planning to inform the bid process.
  • Analyze profitability and competitive environment and work with leadership to identify appropriate opportunities and strategies to increase profitability and achieve targets.
  • Lead pricing of insurance and non-insurance products in collaboration with business units, develop prospective profitability assessments, and communicate pricing decisions to executive leadership and additional audiences as requested.
  • Work with various business units to help create and drive strategic plans and metrics.
  • Analyze and make recommendations in the design of annual and long-term incentive plans for EM corporate functions and business units.
  • Develop and maintain tool to forecast of key actuarial assumptions supporting Senior Health Services forecast and annual plan and communicate forecast changes and drivers of change to executive leadership.
  • Research reinsurance options, analyze financial impacts around potential reinsurance structures and make recommendations.
  • Monitor industry results and trends and Emerging Markets relative performance to the industry and make appropriate recommendations for improvements.

    This position description identifies the responsibilities and tasks typically associated with the performance of the position. Other relevant essential functions may be required.





    EMPLOYMENT QUALIFICATIONS:



    EDUCATION OR EQUIVALENT

    EXPERIENCE:



    Bachelor's degree in actuarial science, mathematics, or related area is required. Attainment of Associate designation from the CAS or SOA also required.



    EXPERIENCE:



    Four years of progressive responsibility in an actuarial environment with demonstrated technical knowledge which provides the necessary skills, knowledge and abilities. Three years related technical experience which is highly specialized, complex and strategic. One year of leadership experience required.

    Additionally, experience regularly advising senior management on actuarial related techniques in determining the appropriate course of action and leading, planning and managing complex projects. Property and Casualty experience required.



    SKILLS/KNOWLEDGE/ABILITIES (SKA) REQUIRED:




  • Knowledge of mathematics and statistics
  • Advanced knowledge of actuarial principles and practices, including reinsurance, reserving and ratemaking, financial reporting, underwriting and marketing guidelines and claims practices.
  • Ability to perform actuarial and statistical analyses
  • Ability to apply the principles of logical thinking to define problem; collect data, establish facts and draw conclusions
  • Excellent communication with others both verbally and in writing and the ability to communicate actuarial concepts and conclusions to non-actuaries
  • Expert user of Microsoft Excel and preferably Igloo or R
  • Working knowledge of Microsoft PowerPoint
  • Ability to learn new software easily





    WORKING CONDITIONS:



    Work is performed in an office setting with no unusual hazards. Minimal travel required.

    The qualifications listed above are intended to represent the minimal skills and experience levels associated with performing the duties and responsibilities contained in this position description. The qualifications should not be viewed as absolute standards, but as general guidelines that should be considered with other position-related criteria.

    We are an Equal Opportunity Employer. Diversity is valued and we will not tolerate discrimination or harassment in any form. Candidates for the position stated above are hired on an "at will" basis. Nothing herein is intended to create a contract.

    Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled
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