[Hiring] Actuarial Associate @Alliance Health

Role Description

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. 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.

Qualifications

• Bachelor’s Degree in Actuarial Science, Mathematics, Business, or related field from an accredited college/university.
• At least three (3) or more years of related experience in an Actuarial capacity.
• Passed at least 2 Society of Actuary (SOA) Actuarial Examinations.

Requirements

• 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

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

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.

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.