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Job Description:

Summary:

The Associate Actuary develops and provides actuarial and financial recommendations that protect the organization’s financial integrity, by providing information and recommendations which must be sound and consistent across levels of IBNR liabilities, target pricing margins, corporate goals, new initiatives and other complex measures related to financial solvency. This position drives interpretation of data and development of analytics, methods, and formulae to solve complex business problems and recommend solutions and monitoring. This position is capable of handling highly complex actuarial modeling and is viewed as an expert in the field.

Essential Accountabilities:

All Levels

• Represents the company in meetings and communications with NYSID, CMS, BCBSA, consultants, customers and other external parties.

• Ensures actuarial modeling is consistent with Standards of Practice developed and promulgated by the Actuarial Standards Board.

• Prepares actuarial statements of opinion for filings to NYSID, CMS and the NAIC where opinions are required to be signed by a qualified, credentialed Actuary.

• Initiates, plans, and manages actuarial projects relating to complex issues and trends, coordinating with several different disciplines and staff.

• Participates in corporate or departmental projects that are generally of a non-recurring nature, often with cross-functional project participants working as a virtual team to improve the overall effectiveness of the organization. Work typically involves assessment, analysis, design, testing and implementation of new systems, policies, or standards that are critical to the competitive positioning or long-term viability of the organization.

• Provides effective technical and non-technical business advice with supporting documentation and analysis to assist management in meeting corporate goals and making strategic decisions. Involves other departmental areas as needed.

• Mentors’ analysts and champions an environment that promotes the continual improvement of data capabilities and the quality of department analysis and reporting.

• Participates in and provides contributions to the departmental performance goals and initiatives.

• Consistently demonstrates high standards of integrity by supporting the Lifetime Healthcare Companies’ mission and values and adhering to the Corporate Code of Conduct and leading to the Lifetime Way values and beliefs.

• Maintains high regard for policyholder and/or certificate holder privacy in accordance with corporate privacy policies and procedures.

• Regular and reliable attendance is expected and required.

• Performs other duties as assigned by management.

Level II

• Reviews, monitors and communicates regulatory activities relating to healthcare. Leads efforts ensuring department compliance.

• Identifies emerging issues that impact corporate goals, leads resolution of issues, and recommends strategy when appropriate. Involves other functional areas as appropriate.

• Recommends, designs, and manages departmental goals consistent with corporate goals.

• Mentors and guides staff in the development of complex modeling.

Minimum Qualifications:

NOTE

We include multiple levels of classification differentiated by demonstrated knowledge, skills, and the ability to manage increasingly independent and/or complex assignments, broader responsibility, additional decision making, and in some cases, becoming a resource to others. In addition to using this differentiated approach to place new hires, it also provides guideposts for employee development and promotional opportunities.

All Levels:

• Bachelor’s Degree in Math, Economics, Actuarial Science or related field required.

• Six (6) years of experience in health actuarial science required.

• Professional designations of Associate of the Society of Actuaries (ASA) and Member of the American Academy of Actuaries (MAAA) required.

• Maintenance of continuing education or other requirements to satisfy USQS standards for issuing statements of actuarial opinion expected.

• Ability to design and direct the creation of complex actuarial models.

• Advanced knowledge of financial and risk health arrangements.

• Proficiency in Microsoft Office Suite, Visual Basic and SAS.

• Advanced ability to communicate technical analysis at the appropriate level for the intended audience.

• Ability to design and implement process improvement.

• Strong leadership and project management skills.

• Ability to work independently and creatively.

• A thorough understanding of non-Actuarial functions such as Rating & Underwriting, Finance, Provider Contracting, Network Management, Product Development, Medical Management, Marketing & Sales, etc. and how they impact Health Plan operations, financials and forecasts must be acquired.

Level II - in addition to Level I qualifications:

• Eight (8) years of related experience.

• Fellowship in the Society of Actuaries (FSA) required.

• Extensive experience leading significant corporate projects with considerable impact to the financial or strategic direction of an organization

• Ability to identify risks and develop response plans due to changing regulatory environment. A thorough understanding of non-Actuarial functions such as Rating & Underwriting, Finance, Provider Contracting, Network Management, Product Development, Medical Management, Marketing & Sales, etc. and how they impact Health Plan operations, financials and forecasts.

Physical Requirements

• Ability to work while sitting and/or standing at a workstation viewing a computer and using a keyboard, mouse and/or phone for three (3) or more hours at a time.

• Ability to travel across the Health Plan service region for meetings and/or trainings as needed.

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One Mission. One Vision. One I.D.E.A. One you.

Together we can create a better I.D.E.A. for our communities.

At the Lifetime Healthcare Companies, we’re on a mission to make our communities healthier, and we can’t do it without you. We know inclusion of all people helps fuel our mission and that’s why we approach our work from an I.D.E.A. mindset (Inclusion, Diversity, Equity, and Access). By activating all of our employees' experiences, skills, and perspectives, we take action toward greater health equity.

We aspire for our employees’ interests and values to reflect the communities we live in and serve, and strongly encourage all qualified individuals to apply.

OUR COMPANY CULTURE:

Employees are united by our Lifetime Way Values & Behaviors that include compassion, pride, excellence, innovation and having fun! We aim to be an employer of choice by valuing an inclusive workforce, innovative thinking, employee development, and by offering competitive compensation and benefits.

In support of the Americans with Disabilities Act, this job description lists only those responsibilities and qualifications deemed essential to the position.

Equal Opportunity Employer

Compensation Range(s):

Level I: Grade E8: Minimum $98,297 - Maximum $176,935

The salary range indicated in this posting represents the minimum and maximum of the salary range for this position. Actual salary will vary depending on factors including, but not limited to, budget available, prior experience, knowledge, skill and education as they relate to the position’s minimum qualifications, in addition to internal equity. The posted salary range reflects just one component of our total rewards package. Other components of the total rewards package may include participation in group health and/or dental insurance, retirement plan, wellness program, paid time away from work, and paid holidays.

With about 4,000 employees, 31 counties, and serving the needs of over 1.5 million members, you can imagine the gamut of skills it takes to keep our organization growing and our members flourishing. As an internal job seeker, this means growth and development in many directions, divisions, and roles.Take a look at information regarding our hiring process here. https://lifethc.sharepoint.com/sites/HumanCapitalManagement/SitePages/Talent-Acquisition-%26-Onboarding.aspx#hiring-process All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.