Actuarial Assistant

Selectcare Philippines Inc; Makati; On-site; PHP 600,000 - 900,000; Full time

Job summary

Selectcare Philippines Inc in Makati is seeking an Actuarial Analyst to assist the Actuarial Manager and Data Manager with research, data extraction and statistical analysis to develop ratings and experience reports.

The role involves compiling demographics and health histories to set premium rates for A&H plan coverages, pricing studies, data extraction for renewal requests, and preparing loss experience and MLR reports for clients and management.

Qualifications

• Bachelor's degree in mathematics or statistics or comparable field of study.
• Ability to read, analyze, and interpret scientific and financial documents.
• Ability to write reports in prescribed style and format.
• Ability to present information to top management or boards.
• Apply mathematical and statistical operations (frequency, correlation, sampling, credibility, factor, trend).
• Define problems, collect data, establish facts, draw valid conclusions.
• Interpret technical instructions in mathematical/diagram form.
• Proficient with databases, spreadsheets and reporting software.
• HMO/health insurance experience preferred but not required.
• Programming knowledge preferred but not required.

Responsibilities

• Compile demographics and health histories to develop premium rates.
• Work on pricing research studies including experience analyses.
• Extract data from databases to analyze claims for renewals and information requests.
• Calculate loss experience using plan history.
• Recommend rate adjustments using loss rate experience and rate tables.
• Develop data for financial reports and calculate IBNP factors.
• Calculate loss ratio experiences and prepare MLR reports and experience refunds.
• Work on rate filings for regulatory agencies and RxDC/compliance attestations.
• Adhere to HIPAA policies and safeguard health information.
• Advise management on policy infringements.

Skills

Reading & analysis

Report writing

Presenting to management

Math & statistics

Problem definition

Technical instructions interpretation

Databases & spreadsheets

Programming knowledge

Education

Bachelor's in mathematics or statistics

Tools

Databases

Spreadsheets

Reporting software

Job description

About the role

Assists the Actuarial Manager and Data Manager in conducting research, compiling information, and performing mathematical & statistical analysis to develop ratings and prepare experience reports.

Key responsibilities

• Compile demographic information and health histories of members in client organizations to develop recommended premium rates for applicable A&H plan coverages

• Work on pricing research studies including experience analyses and book of business studies

• Extract information from the company's database to analyze claims processed for clients whose contracts are due for renewal or clients requesting information, and calculate loss experience based on plan history

• Recommend appropriate rate adjustments using loss rate experience and manual rate tables according to prescribed methods and procedures

• Develop information for the company's financial reports and extract data from the company's database to calculate IBNP (incurred but not paid) factors

• Calculate loss ratio experiences and other underwriting results as specified, and prepare MLR reports and Experience Refund Statements

• Work on rate filings for regulatory agencies and annual compliance reports such as Prescription Drug Data Collection (RxDC) and Gag Clause Prohibition Compliance Attestation

• Adhere to the company's policies and procedures regarding compliance with the Health Insurance Portability and Accountability Act of 1996 (HIPAA) and amendments thereto

• Safeguard the confidentiality, privacy and security of the health information of the company's clients

• Advise management regarding actual or potential infringements of associated policies and procedures

About you

• Bachelor's degree in mathematics or statistics or comparable field of study from an accredited college or university

• Ability to read, analyze, and interpret common scientific and technical journals, financial reports, and legal documents

• Ability to write reports and articles that conform to prescribed style and format

• Ability to effectively present information to top management and/or boards of directors

• Ability to apply mathematical and statistical operations to such tasks as frequency distributions, correlation techniques, sampling and credibility theory, factor analysis and trend analysis

• Ability to define problems, collect data, establish facts, and draw valid conclusions

• Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables

• Proficiency at handling databases, spreadsheets and report software and applications

• Work experience with an HMO or health insurance company is preferred but not required

• Programming knowledge is preferred but not required