Actuarial analyst job description

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Overview
Under the supervision of the Manager-Actuarial Services, the candidate will provide a full scope of actuarial and statistical analyses. Such projects will support both internal and external customers. The position requires working collaboration with other team members and business units throughout the organization. This role requires strong analytical skills.

Qualifications
Bachelor's degree required in Mathematics, Statistics, Actuarial Sciences, or related field. Master's degree preferred.Three (3) years of Actuarial or related experience required OR two (2) years of actuarial experience and ASA designation required.Completion of at least one Society of Actuaries exam preferred.Strong understanding of Actuarial concepts, functions, and processes.Detailed understanding of health care concepts and products, and general understanding of the health care environment.Proficient PC skills in a Windows environment. Advanced knowledge of Excel, SAS and other analytic or query tools required. Programming and coding experience required.Proven ability to handle data sources, filter and assess data quality, and recognize data patterns required. Strong problem solving skills required. Must be able to develop information derived from multiple and varied inputs.Demonstrated project management skills. Able to support complex projects.Excellent oral and written communication skills. Demonstrated self-motivation and initiative, as well as an ability to perform under pressure. Strong interpersonal skills. Strong organizational skills and ability to prioritize, multitask, and work in fast paced environment.Proven examples of displaying the IH values: Passionate, Caring, Respectful, Trustworthy, Collaborative and Accountable.

Essential Accountabilities
Support budget development process including forecasting and actual to budget comparison. Communicate with external departments to support budget preparation.Support development and forecasting of accruals for Finance and Accounting for various financial statement items.Provide analysis and reporting for financial and regulatory requirements including but not limited to MCR, ROI, product performance, provider and vendor relationships, and audit support.Perform actuarial analysis and modeling including but not limited to reserves, pricing, and forecasting.Develop ad hoc reports as a supplement to routine management reports through query building and data extraction.Assist in development of process improvements and automation within the department.Manage complex projects. Responsible for development, support, and improvement of departmental projects.Perform peer review as needed.Understand multiple sources of data; is able to identify and utilize most relevant source to complete task. Ensure overall data integrity. Draw together facts and input from a variety of sources; make recommendations to management.

As an Equal Opportunity / Affirmative Action Employer, Independent Health and its affiliates will not discriminate in its employment practices due to an applicant's race, color, creed, religion, sex (including pregnancy, childbirth or related medical conditions), sexual orientation, gender identity or expression, transgender status, age, national origin, marital status, citizenship, physical and mental disability, criminal record, genetic information, predisposition or carrier status, status with respect to receiving public assistance, domestic violence victim status, a disabled, special, recently separated, active duty wartime, campaign badge, Armed Forces service medal veteran, or any other characteristics protected under applicable law. Click here for additional EEO/AAP or Reasonable Accommodation information.

Current Associates must apply internally via their Career Worklet.

At EMC, you'll put your skills to good use as an important member of our team. You can count on gaining valuable experience while contributing to the company's success. EMC strives to hire and retain the best people by engaging, developing and rewarding employees.
Essential Functions:

Completes and coordinates the completion of data preparation, analysis, and documentation Makes recommendations for action regarding pricing, reserving, and/or modeling Identifies data and operational issues requiring specialized actuarial attention Provides ideas for innovation and support for research and development of new products and enhancements Develops higher level excel for each line of business and every state, including internal trend analysis, pricing indications, basic forecasting, and actuarial reserving Performs exploratory research, analysis, and testing of new or updated processes Leads small teams of actuaries on special projects

Education & Experience:
Bachelor's degree in actuarial science or math Three years of actuarial experience2-4 actuarial exams Additional experience, exams or graduate level coursework may be considered in meeting the requirements

Knowledge, Skills & Abilities:

Thorough knowledge of statistics and probability and computer programming Proficiency in pricing and reserving or predictive modeling for at least one line of business Strong knowledge of actuarial terminology, concepts and theory Strong knowledge of Excel, PowerPoint, PowerBI and WordStrong knowledge of at least one computer language, such as R, SAS or SQL preferred Ability to effectively lead a team Strong analytical, investigation and problem-solving abilities

Our employment practices are in accord with the laws which prohibit discrimination due to race, color, creed, sex, sexual orientation, gender identity, genetic information, religion, age, national origin or ancestry, physical or mental disability, medical condition, veteran status, active military status, citizenship status, marital status or any other consideration made unlawful by federal, state, or local laws.

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This position will support Pan-American Life US Group Actuarial US Group reserving efforts. This role will be responsible for coordinating with the lead reserving actuary to help set reserves. This role will also assist in updating databases and forecast files for all US Group lines of business. This role will seek to improve reserving processes and model accuracy. This role will assist in reporting results to actuarial pricing teams and other teams as needed. This role will interact with other departments including accounting, corporate, and compliance as necessary.
Reserving - US Benefits
Assist Actuarial reserving efforts for US products including Hospital Indemnity, Rx, Dental, Medical Accident, Stop Loss and other ancillary product Assist in updating reserve models as necessary.

Experience Analysis
Conduct experience studies as needed on US Group lines of business Help develop recommendations for block rate changes Help develop recommendations for group rate changes

Budget and Forecasting
Assist Actuarial efforts for budgeting and forecasting. For US products including Accident and Special Markets products.Aid in developing actuarial memorandums and rate manuals as necessary Assist in developing rates for new and inforce products

Monthly Reporting
Coordinate with actuarial team to produce monthly financial reports Present report findings as needed Research any report irregularities Work to improve efficiency of reporting

Actively participate in projects as assigned, outside the normal scope of current job function

Job Requirements
Education & Experience
Required: Bachelor's degree preferably in Mathematics, Economics, Business or Actuarial Science. Must have passed at least one SOA exam.
Preferred: 2 to 3 actuarial exams

Skills
Understanding of actuarial concepts (rates, reserves, retentions, benefits changes) Practical experience in the accident & health industry (contract provisions, benefit designs, administrative systems). Highly advantageous to have experience with limited medical, ancillary and/or medical stop loss products Excellent communication skills, both written and verbal with the ability to effectively interface with Compliance, Finance, Marketing, Underwriting, Operations or Executive areas (actuaries and non-actuaries) of both internal and external partners. Including the ability to translate complex actuarial and financial concepts to a non-actuarial audience in such a way that the information can be used as a basis for sound decision making Ability to work with mainframe systems and PC and advanced proficiency with Microsoft Windows & Office: Knowledge and experience using Microsoft Reporting Services and SQL Programming language with the ability to create SQL queries required, stored procedures and functions a plus Results-oriented perspective, with a focus on efficiently producing solid, practically usable answers on a timely basis Strong project management skills with the ability to manage multiple and changing priorities Strong organization, business decision-making and analytical skills Strong work ethic, well organized and self-motivated. Ability to work productively on an independent basis, but also within specific parameters and guidelines Cooperation skills to be able to function on a team basis Communication Skills - Excellent communication abilities in English, both written and verbal. Spanish fluency is a plus.Mathematical Skills - Strong mathematical abilities are required. The incumbent must be able to efficiently work with complicated underwriting mathematical problems and tools that exist in the group insurance industry.Reasoning Ability - Excellent reasoning and logic skills are required. The incumbent must possess highly developed analytical capabilities.