Actuary

Medica; Minnetonka (MN); Hybrid; USD 100,000 - 150,000; Full time

Job summary

Medica is a nonprofit health plan that serves Minnesota and beyond, seeking an experienced actuary to support risk analysis, pricing, and forecasting. The role emphasizes monthly projections, budget variance, and actuarial opinions, with onsite work 3 days per week in Minnetonka, MN. A bachelor’s degree and 7 years of experience are required; FSA preferred.

Proficiency in SAS/SQL and Excel is beneficial. Join a collaborative team focused on data-driven decisions, continuous learning, and

Qualifications

• Bachelor’s degree in related field.
• 7 years of work experience beyond degree.
• FSA achieved or demonstrated performance under supervision.
• Health insurance actuarial experience preferred.

Responsibilities

• Develop and monitor monthly fee-for-service claims projections.
• Produce monthly variance reporting against budget and forecast.
• Support annual actuarial opinions and memoranda.
• Provide actuarial support for financial audits.
• Maintain actuarial data knowledge and technology tools.
• Produce accurate actuarial reports and exhibits.

Skills

Actuarial knowledge

Analytical thinking

Attention to detail

Communication

Education

Bachelor's degree

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 tobe there in the moments that mattermost 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.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
This employer is required to notify all applicants of their rights pursuant to federal employment laws.For further information, please review the Know Your Rights notice from the Department of Labor.