Assistant Actuary - Farmington, CT or New York, NY Location

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Manager & Professional
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20127 Requisition #
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Assistant Actuary, Valuation, calculates the monthly reserves for GHI and HIP, supports the monthly P&L process with detailed variance testing, collaborates with finance to reflect correct reserves in financial statements, gathers claim inputs and works with underwriting /outside auditor to reconcile reserves.  Also estimates other liabilities including capitated arrangements, Premium Deficiency Reserves and PAD.

 
Responsibilities:
  • Calculate monthly claim reserves for GHI and HIP, collaborating with Finance to reflect correct reserves in financial statements, gathers claim inputs and works with underwriting /outside auditor to reconcile reserves.  Supports monthly P&L process through detailed variance testing.
  • Calculates PAD analysis annually to determine if current percentage is adequate.  Calculates other liabilities which include PDR and Reg 164. Responsible for HCRA submissions. Calculate Seasonality factors.
    Prepare exhibits needed for annual statements and overseeing the preparation of Actuarial reserve certification and summaries.  Prepare the yearly Actuarial Memorandum for Chief Actuary.
  • Answer questions/provide support/gather data inputs for Finance, Underwriting, Claims IT, Provider Contracting, budgeting, external auditors and IRS auditors regarding IBNR estimates.
  • Responsible for Policies and Procedures and SOX documentation.
  • Regular attendance is an essential function of the job.  Performs other duties as assigned or required.

Requirements:

  • Bachelor’s degree in Mathematics, Business or related major required
  • Associate of Society of Actuaries preferred
  • 5+ years actuarial health insurance experience required with experience in valuations preferred
  • Knowledge of pricing methodologies required
  • Experience in data analysis required
  • Excellent written and verbal communicator – need to be able to summarize complex analyses succinctly
  • Actuarial valuation experience required
  • Ability to analyze complex health insurance issues impacting valuations required
  • Ability to communicate with other departments on daily basis to collect data inputs or to respond to questions required
  • Demonstrated ability to learn and adapt
  • Demonstrated team player

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