Actuary

Medica; Hopkins (MN); On-site; USD 100,000 - 150,000; Full time

Job summary

Medica in Minnesota is seeking an experienced actuary to analyze and forecast health plan costs, develop projections, and support pricing and compliance across multiple products.

The role requires a Bachelor's degree, 7+ years of experience, and an FSA; proficiency in Excel and SAS/SQL is preferred. Office-based with onsite 3 days/week at Minnetonka or nearby offices.

Qualifications

• Bachelor's degree or equivalent experience in related field.
• 7 years of work experience beyond degree.
• FSA achieved or demonstrated performance under supervision of a qualified actuary.

Responsibilities

• Develop and monitor monthly fee-for-service claims projections
• Produce monthly variance reporting against budget and forecast, including key drivers
• Support the preparation of annual statement actuarial opinions and memoranda
• Provide actuarial support for financial audits
• Maintain a strong working knowledge of actuarial data and available technology tools
• Produce accurate, timely actuarial reports and exhibits

Skills

Actuarial analysis

Data analysis

Excel

SAS

SQL

Education

Bachelor's degree or equivalent

Tools

Excel

SAS

SQL

Job description

Medica is a nonprofit health plan with more than a million members that serves communities in Minnesota, Nebraska, Wisconsin, Missouri, and beyond. We deliver personalized health care experiences and partner closely with providers to ensure members are genuinely cared for.

We're a team that owns our work with accountability, makes data-driven decisions, embraces continuous learning, and celebrates collaboration - because success is a team sport. It's our mission to be there in the moments that matter most for our members and employees. Join us in creating a community of connected care, where coordinated, quality service is the norm and every member feels valued.

Analyze and evaluate the likelihood of future events in order to reduce and manage future risks. Complete and interpret actuarial analysis, valuations, cost estimates, and modeling using statistical programming and database tools. Perform rate level pricing functions and prepare monitoring reports on program or product pricing. Measure historical relationships to develop forecasts and identify trends. Performs other duties as assigned.

Key Accountabilities

• Develop and monitor monthly fee-for-service claims projections
• Produce monthly variance reporting against budget and forecast, including key drivers
• Support the preparation of annual statement actuarial opinions and memoranda
• Provide actuarial support for financial audits
• Maintain a strong working knowledge of actuarial data and available technology tools
• Produce accurate, timely actuarial reports and exhibits

Required Qualifications

• Bachelor's degree or equivalent experience in related field
• 7 years of work experience beyond degree

Required Certifications/Licensure

• FSA achieved or demonstrated performance over multiple years under the supervision of a qualified actuary

Preferred Qualifications

• Health insurance actuarial experience with familiarity across multiple products
• Experience in reserving methodologies and processes, including IBNR development, variance analysis, and reserve adequacy assessments
• Experience supporting statutory reporting, actuarial opinions, and financial audits
• Strong understanding of drivers of medical cost trends and financial performance
• Proficiency in Excel and experience in SAS or SQL is also preferred
• Strong problem-solving skills and attention to detail
• Ability to balance several projects and deadlines at once

This position is an Office role, which requires an employee to work onsite, on average, 3 days per week. We are open to candidates located near one of the following office locations: Minnetonka, MN, Madison, WI, Omaha, NE, or St. Louis, MO.

The full salary grade for this position is $100,300 - $172,000. While the full salary grade is provided, the typical hiring salary range for this role is expected to be between $100,300 - $150,465. Annual salary range placement will depend on a variety of factors including, but not limited to, education, work experience, applicable certifications and/or licensure, the position's scope and responsibility, internal pay equity and external market salary data. In addition to base compensation, this position may be eligible for incentive plan compensation in addition to base salary. Medica offers a generous total rewards package that includes competitive medical, dental, vision, PTO, Holidays, paid volunteer time off, 401K contributions, caregiver services and many other benefits to support our employees.

The compensation and benefits information is provided as of the date of this posting. Medica's compensation and benefits are subject to change at any time, with or without notice, subject to applicable law

Eligibility to work in the US: Medica does not offer work visa sponsorship for this role. All candidates must be legally authorized to work in the United States at the time of application. Employment is contingent on verification of identity and eligibility to work in the United States.

We are an Equal Opportunity employer, where all qualified candidates receive consideration for employment indiscriminate of race, religion, ethnicity, national origin, citizenship, gender, gender identity, sexual orientation, age, veteran status, disability, genetic information, or any other protected characteristic.