Actuarial Associate

Alliance Health; North Carolina; Remote; USD 79,000 - 101,000; Full time

Benefits offered by this job

Medical, Dental, Vision, Life, Long Tr

Generous retirement savings plan

Flexible work schedules including híbr

Paid time off including vacation, sick

Dress flexibility

Job summary

Alliance Health is seeking an Actuarial Associate to analyze data on cost, membership, capitation, rate-setting and IBNR. You will use SQL and Excel to model financial risk and develop exhibits that inform stakeholders and support informed decision making.

This full-time role is remote, with residency in North Carolina and occasional travel to the Home Office for onsite meetings. You will partner with teams to socialize results, present complex statistics clearly, and help shape value-based

Qualifications

• Bachelor’s Degree in Actuarial Science, Mathematics, Business, or related field from an accredited college/university.
• At least three (3) years of related experience in an actuarial capacity.
• Must have passed at least 2 Society of Actuary (SOA) actuarial examinations.
• Preferred: Experience with Financial Close Processes.

Responsibilities

• Risk Assessment and Modeling: Evaluate information to determine potential risks and financial impact; PMPM development/monitoring by category of service.
• IBNR Calculations: Support development/maintenance of IBNR models, lag schedules, liability calculations; adjust models as needed.
• Value-Based Contracts: Assist in VBC assessment and reporting; perform financial reconciliation for risk sharing agreements.
• Rate Setting: Become an internal SME on state rate developments; analyze rate book to validate assumptions.
• Documentation and Process: Assist in creating documented procedures to support Completion and IBNR.
• Socialization and Presentation: Present complex statistical information to stakeholders; develop strategies to manage risk and costs.

Skills

SQL

Verbal Communication

Written Communication

MS Office

Time Management

Organization

Complex Problem Solving

Presentation

Education

Bachelor’s Degree in Actuarial Science, Mathematics, Business, or related field

SOA Examinations — Passed 2 actuarial examinations

Job description

The Actuarial Associate will analyze and interpret data related to cost, membership, capitation, Rate-setting, Incurred But Not Reported (IBNR) and other items as needed. They will use SQL/excel etc. to model data and assess financial risk and help develop exhibits to assist in the socialization of financial outcomes. The Actuarial Associate will also serve as a subject matter expert to internal and external stakeholders and partner with teams to produce actionable insights.

This position is full-time remote. Selected candidate must reside in North Carolina. Some travel for onsite meetings to the Home office may be required for meetings.

Responsibilities & Duties

Risk Assessment and Modeling

• Evaluate information to determine the potential risks of certain events and their financial impact on the organization
• PMPM Development / Monitoring - Analyze actual vs budgeted PMPM rates by Category of Service and evaluate the causes of healthcare expense patterns

IBNR Calculations

• Support the development, maintenance, and preparation of IBNR models, lag schedules and liability calculations
• Adjust and refine IBNR models based on changes in the organization, the environment, or additional risks that may arise

Value-Based Contracts

• Assist in the development of Value Based Contract assessment and reporting
• Undertake financial reconciliation for risk sharing agreements
• Evaluate feasibility / opportunity for ‘New’ VBC arrangements

Rate Setting

• Become an internal SME on State Rate developments
• Analyze the rate book provided by the state to validate assumptions

Documentation and Process

• Assist the Actuarial Function in the creation of documented procedures to support Completion and IBNR

Socialization and Presentation

• Present and communicate complex statistical and mathematical information to others
• Develop and present strategies and solutions that manage risk and costs

Minimum Requirements

Education & Experience

Required:

Bachelor’s Degree in Actuarial Science, Mathematics, Business, or related field from an accredited college/university and at least three (3) or more years of related experience in an Actuarial capacity

Candidate applying for this job is required to have passed at least 2 Society of Actuary (SOA) Actuarial Examinations

Preferred:

Experience with Financial Close Processes is preferred

Experience supporting Health Plan is preferred

Knowledge, Skills, & Abilities

• Training/Presentation
• Microsoft Office Package
• Communication- Verbal
• Organization
• Complex Problem Solving
• Time Management; Prioritization
• Written Communication; Reporting
• SQL

Employment for this position is contingent upon a satisfactory background and credit check, which will be performed after acceptance of an offer of employment and prior to the employee's start date.

Salary Range

$79,425-$101,267/Annually

Exact compensation will be determined based on the candidate's education, experience, external market data and consideration of internal equity.

An excellent fringe benefit package accompanies the salary, which includes:

• Medical, Dental, Vision, Life, Long Term Disability
• Generous retirement savings plan
• Flexible work schedules including hybrid/remote options
• Paid time off including vacation, sick leave, holiday, management leave
• Dress flexibility