Actuarial Analyst II

Elevance Health; Richmond (VA); Hybrid; USD 77,000 - 116,000; Full time

Job summary

Elevance Health in Virginia is seeking an Actuarial Analyst II to support Medicare revenue reporting and connect revenue analytics with financial close processes. You will model data, analyze trends, and collaborate with Finance to explain results.

Ideal candidates have a BA/BS and at least 1 year of related experience, plus 3 actuarial exams; SQL/Python and risk-adjustment experience are a plus. Hybrid work arrangement with offices in Virginia.

Qualifications

• Requires BA/BS degree and to have passed a minimum of three SOA or CAS actuarial exams and a minimum of 1 year related experience.
• Alternate combinations of education and experience will be considered to provide an equivalent background.
• SOA/CAS exam progress is required as part of qualification.

Responsibilities

• Obtains, verifies, analyzes and models data including risk reporting and forecasting.
• Support Medicare revenue Outlook processes, including development, validation, and documentation of revenue forecasts.
• Perform month-end revenue calculations and analyses, including revenue run rate calculations, final settlement estimates, and mid-year settlement estimates.
• Prepare, review, and maintain actuarial models used to support Medicare revenue accruals, settlements, and financial reporting.
• Analyze revenue trends, membership changes, risk adjustment impacts, settlement drivers, and other key components affecting Medicare revenue.
• Partner with Finance and Accounting to support month-end close, journal entries, accruals, reconciliations and variance explanations.
• Communicate revenue results, key drivers, and emerging risks or opportunities to actuarial leadership and cross-functional stakeholders.
• Assist in preparation of recurring financial exhibits, revenue dashboards, settlement summaries, and executive-level reporting materials.
• Research and explain actual-to-expected revenue variances and timing differences.

Skills

SQL

Python

Risk adjustment

Pricing/Valuation

Education

BA/BS degree

Job description

Actuarial Analyst II

Location: This role requires associates to be in-office 1 - 2 days per week, fostering collaboration and connectivity, while providing flexibility to support productivity and work-life balance. This approach combines structured office engagement with the autonomy of virtual work, promoting a dynamic and adaptable workplace. Alternate locations may be considered if candidates reside within a commuting distance from an office.

Please note that per our policy on hybrid/virtual work, candidates not within a reasonable commuting distance from the posting location(s) will not be considered for employment, unless an accommodation is granted as required by law.

The Actuarial Analyst II is responsible for completing projects and performs complex actuarial studies. This role plays a key part in ensuring accurate, timely, and well-supported Medicare revenue reporting. The Actuarial Analyst II will help connect actuarial revenue analytics with financial close processes, providing critical insight into revenue performance, settlement expectations, and key drivers of financial results. This role will also focus on GRS revenue support and analytics.

How You Will Make an Impact

Primary duties may include, but are not limited to:

• Obtains, verifies, analyzes and models data including risk reporting and forecasting.
• Support Medicare revenue Outlook processes, including the development, validation, and documentation of revenue forecasts.
• Perform month-end revenue calculations and analyses, including revenue run rate calculations, final settlement estimates, and mid-year settlement estimates.
• Prepare, review, and maintain actuarial models used to support Medicare revenue accruals, settlements, and financial reporting.
• Analyze revenue trends, membership changes, risk adjustment impacts, settlement drivers, and other key components affecting Medicare revenue.
• Partner closely with Finance and Accounting teams to support month-end close, journal entry inputs, accruals, reconciliations, and variance explanations.
• Communicate revenue results, key drivers, and emerging risks or opportunities to actuarial leadership and cross-functional stakeholders.
• Assist in the preparation of recurring financial exhibits, revenue dashboards, settlement summaries, and executive-level reporting materials.
• Research and explain actual-to-expected revenue variances, including changes related to run rate, settlement estimates, membership, risk scores, and timing differences.
• Ensure calculations are accurate, well-controlled, and appropriately documented in accordance with internal governance standards.
• Identify opportunities to improve revenue models, reporting processes, controls, documentation, and workflow efficiency.
• Support ad hoc analyses related to Medicare revenue, forecasting, settlement impacts, and financial performance.

Minimum Requirements:

Requires a BA/BS degree and to have passed a minimum of three Society of Actuaries (SOA) or Casualty Actuarial Society (CAS) actuarial exams and a minimum of 1 year related experience; or any combination of education and experience, which would provide an equivalent background.

Preferred Skills, Capabilities, and Experiences:

• SQL/Python experience preferred.
• Pricing/Valuation experience preferred.
• Risk adjustment experience preferred.

For candidates working in person or virtually in the below locations, the salary* range for this specific position is $77,040 to $115,560.

Location: Virginia

In addition to your salary, Elevance Health offers benefits such as a comprehensive benefits package, incentive and recognition programs, equity stock purchase and 401k contribution (all benefits are subject to eligibility requirements). The salary offered for this specific position is based on a number of legitimate, non-discriminatory factors set by the Company. The Company is fully committed to ensuring equal pay opportunities for equal work regardless of gender, race, or any other category protected by federal, state, and local pay equity laws.

• The salary range is the range Elevance Health in good faith believes is the range of possible compensation for this role at the time of this posting. This range may be modified in the future and actual compensation may vary from posting based on geographic location, work experience, education, and/or skill level. Even within the range, the actual compensation will vary depending on the above factors as well as market/business considerations. No amount is wages or compensation until such amount is earned, vested, and determinable under the terms and conditions of the applicable policies and plans. The amount and availability of any bonus, commission, benefits, or any other form of compensation and benefits that are allocable to a particular employee remains in the Company's sole discretion unless and until paid and may be modified at the Company’s sole discretion, consistent with the law.

Who We Are

Elevance Health is a health company dedicated to improving lives and communities – and making healthcare simpler. We are a Fortune 25 company with a longstanding history in the healthcare industry, looking for leaders at all levels of the organization who are passionate about making an impact on our members and the communities we serve.

How We Work

At Elevance Health, we are creating a culture that is designed to advance our strategy but will also lead to personal and professional growth for our associates. Our values and behaviors are the root of our culture. They are how we achieve our strategy, power our business outcomes and drive our shared success - for our consumers, our associates, our communities and our business.

We offer a range of market-competitive total rewards that include merit increases, paid holidays, Paid Time Off, and incentive bonus programs (unless covered by a collective bargaining agreement), medical, dental, vision, short and long term disability benefits, 401(k) +match, stock purchase plan, life insurance, wellness programs and financial education resources, to name a few.

Elevance Health operates in a Hybrid Workforce Strategy. Unless specified as primarily virtual by the hiring manager, associates are required to work at an Elevance Health location at least once per week, and potentially several times per week. Specific requirements and expectations for time onsite will be discussed as part of the hiring process.

The health of our associates and communities is a top priority for Elevance Health. We require all new candidates in certain patient/member-facing roles to become vaccinated against COVID-19 and Influenza. If you are not vaccinated, your offer will be rescinded unless you provide an acceptable explanation. Elevance Health will also follow all relevant federal, state and local laws.

Elevance Health is an Equal Employment Opportunity employer and all qualified applicants will receive consideration for employment without regard to age, citizenship status, color, creed, disability, ethnicity, genetic information, gender (including gender identity and gender expression), marital status, national origin, race, religion, sex, sexual orientation, veteran status or any other status or condition protected by applicable federal, state, or local laws. Applicants who require accommodation to participate in the job application process should submit the Accessibility Accommodation Request Form (https://forms.cloud.microsoft/pages/responsepage.aspx?id=8giMvgesLESaRuvu61vU17EJaA0EP3FIissI8zmZ_NpUNUgyTFRUMkY5NE5JNDFWMkhaUzQxMkJLWS4u&route=shorturl) and a member of the team will be in contact.

Qualified applicants with arrest or conviction records will be considered for employment in accordance with all federal, state, and local laws, including, but not limited to, the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act.

Prospective employees required to be screened under Florida law should review the education and awareness resources at HB531 | Florida Agency for Health Care Administration (https://info.flclearinghouse.com/).