Actuarial Associate (Full-time Remote, North Carolina Based)

Alliance Health; Fayetteville (NC); Remote; USD 70,000 - 89,000; Full time

Benefits offered by this job

Medical insurance

Retirement plan

Flexible schedules

Paid time off

Dress code flexibility

Job summary

Alliance Health is seeking an Actuarial Associate to analyze data related to cost, membership, rate-setting, IBNR and other items using SQL/Excel to model data and assess financial risk. The role serves as a subject matter expert and partners with teams to deliver actionable insights.

This is a fully remote position based in North Carolina with periodic in-person meetings. The candidate should have a Bachelor’s degree in Actuarial Science, Mathematics, Business, or related field and at least

Qualifications

• Bachelor’s Degree in Actuarial Science, Mathematics, Business, or related field from an accredited college/university
• Candidate must have passed at least 2 SOA actuarial examinations
• Experience with Financial Close Processes is preferred
• Experience supporting Health Plan is preferred

Responsibilities

• Risk assessment and modeling to evaluate potential financial impact of events
• Analyze PMPM rates by Category of Service and investigate expense patterns
• Support development, maintenance, and interpretation of IBNR models and liability calculations
• Assist in Value Based Contract assessment and reporting; reconcile risk-sharing agreements
• Analyze state rate books to validate assumptions and stay current on rate developments
• Present complex statistical/mathematical information to stakeholders and leadership

Skills

SQL

Microsoft Office

Verbal Communication

Written Communication

Time Management

Organization

Complex Problem Solving

Education

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

SOA Examinations passed (2+)

Job description

TheActuarial 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 a remote position, working from home and coming into the office occasionally for in-person meetings with leadership and/or team members.

This position is fully remote. The selected candidate must reside in North Carolina.

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

$69,592 -$88,729/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