The Actuary provides actuarial services to develop best-practice actuarial models and promote implementation Program-wide. Maintain accountability for the development of the organization's rate structure, maintenance of adequate reserves, and development of new products. Provide data/analytic expertise to support actuarial services including financial reporting, trend analysis, utilization studies, rate development and claims liability estimates.
Essential Functions:
- The Actuary is approaching high levels of technical actuarial specialization and expertise. Areas of specialization may include:
- Analysis and interpretation of product line financials to determine premium rates, profit forecasts, reserve adequacy, and other product line evaluations.
- Applies actuarial science and research, including monitoring developments in actuarial techniques, standards, and assumptions, and the legal and regulatory environment.
- Analysis and interpretation of product line financials, testing of reserve adequacy, valuation of liabilities, cash flow analysis, and product investment strategy.
- Determination of pricing structure and premiums, and the origination and evaluation of new product ideas, which are highly specialized, complex, and strategic.
- Additionally: This position may advise management on actuarial or mathematical techniques in determining appropriate courses of action.
- This position may oversee projects as the highest level individual contributor.
- Actions and decisions may affect many areas of KP.
- Contributes to the development of the department's objectives and responsibilities that may impact the integrated achievement of functional and KP objectives, and also strongly contribute to long-term success or failure.
- Erroneous decisions/recommendations would result in failure to achieve the major functional goals and objectives and may have a long-term effect on an aspect of KP's success.
- Involves a high degree of interpretation and analysis of obscure or inconclusive data.
- Requires significantly complex decision-making.
- Requires a broad range of highly complex decision-making.
- Required to make some decisions that could be precedent setting.
- Works on complex issues where analysis of situations or data requires an in-depth knowledge of organizational objectives and project functional trends.
- Requires experienced business or technical judgment to deploy novel solutions for thought-provoking, diverse and highly complex issues.
- May analyze recommendations made by others to solve issues bearing broad or company-wide impact.
- May involve the application of sophisticated methodology.
- Requires the ability to change the thinking of, or gain acceptance from, others in sensitive situations, without damage to the relationship.
- Requires the persuasion, presentation and/or negotiation of functional strategies, philosophies, policies, and/or opinions in order to substantially impact the function.
- Regularly interacts with management and possibly executive levels on matters concerning functional areas, multiple regions and/or customers.
- Exercises latitude in determining objectives and approaches to assignments.
- Management reviews results to determine success of operation.
- Generally has no formal supervisory responsibility, though may mentor a small number of junior staff.
- Will often lead project teams and mentor and provide direction to lower level actuaries.
Qualifications:
Basic Qualifications:
- Minimum eight (8) plus years of actuarial experience and ASA or FSA designation or Fellowship (FSA from Society of Actuaries) and four (4) years of actuarial experience.
- Analytical programming experience (use of Excel, Access, and other Business Intelligence tools).
- Undergraduate degree in mathematics, statistics, computer science, etc.
- Attainment of ASA is required.
- Progress towards, or achievement of, FSA preferred.
- Knowledge of core actuarial concepts (reserving, pricing, forecasting and trend analysis).
- Understanding of healthcare cost structures (fee schedules, actuarial cost categories, and health care utilization codes).
- Knowledge of key market segments (individual, small group, etc.) OR knowledge of key government programs (Medicare, Medicaid, etc.).
- Knowledge of healthcare industry, including health plans, employers, and providers.
External hires must pass a background check/drug screen.
We are proud to be an equal opportunity/affirmative action employer.