Actuary II - Health Plans: Forecasting & Modeling

Ultipro; Madison, Northern (WI, KY); Hybrid; USD 70,000 - 105,000; Full time

Job summary

Medica, a nonprofit health plan, seeks an Actuary II to develop models, perform actuarial analyses, and support rate development in Wisconsin. You will quantify risks, forecast outcomes, and document methodologies for auditability and transparency.

The role requires collaboration with Finance, Product, and Operations and advancement through actuarial exams. The position offers an onsite, 3-days-per-week work arrangement with competitive compensation and a comprehensive benefits package.

Qualifications

• Bachelor's degree or equivalent experience in a related field
• 1+ years of work experience beyond degree
• Strong written and communication skills

Responsibilities

• Perform actuarial analyses such as reserve estimates, cost projections, and experience studies using established methods and tools
• Evaluate historical data to identify trends, patterns, and relationships that inform actuarial assumptions
• Prepare actuarial financial evaluations and document methodologies, data sources, and assumptions for auditability and transparency
• Develop forecasts under the direction of senior staff, applying appropriate actuarial and statistical techniques
• Assist in developing rate levels and pricing assumptions for products and programs, ensuring alignment with regulatory and organizational standards
• Prepare monitoring reports to track pricing performance, financial results, and emerging experience
• Analyze variances between expected and actual results and communicate potential drivers to team members
• Recommend preliminary adjustments or considerations based on observed trends and model outcomes
• Build & Maintain Actuarial Models & Tools
• Develop and maintain models using statistical programming languages and database tools (e.g., SQL, R, Python) under established guidelines
• Validate data inputs and outputs to ensure consistency, reliability, and accuracy of model results
• Automate recurring processes to improve efficiency and reduce manual effort where appropriate
• Document model logic, assumptions, and limitations to support reproducibility and internal review
• Analyze the likelihood and financial impact of future events using actuarial principles, probability analysis, and scenario testing
• Collaborate with senior actuaries to refine risk assumptions and incorporate new information as experience develops
• Prepare summaries and visualizations that communicate risk drivers and potential financial implications
• Collaborate with Cross-Functional Teams & Communicate Actuarial Findings
• Provide explanations, interpretations, and analytical insights to partners across Finance, Product, and Operations
• Contribute to cross-functional projects by preparing data, performing analyses, and summarizing actuarial impacts
• Respond to internal questions regarding methodologies, results, and assumptions with growing independence
• Support continuous improvement by sharing observations, documenting processes, and identifying opportunities to enhance existing workflows

Skills

Written communication

Communication skills

Education

Bachelor's degree or equivalent

Tools

SQL

R

Python

SAS

Job description

Medica, a nonprofit health plan, seeks an Actuary II to develop models, perform actuarial analyses, and support rate development in Wisconsin. You will quantify risks, forecast outcomes, and document methodologies for auditability and transparency.

The role requires collaboration with Finance, Product, and Operations and advancement through actuarial exams. The position offers an onsite, 3-days-per-week work arrangement with competitive compensation and a comprehensive benefits package.