Director Actuarial Services

Highmark Health; Bismarck (ND); On-site; USD 170,000 - 287,000; Full time

Benefits offered by this job

Health insurance

401(k) with company match

Job summary

Highmark Inc. is seeking an experienced actuarial leader to manage an actuarial staff and guide pricing, rate development, and policy implementation. The role collaborates with Underwriting, Sales, and Product Management to ensure financial objectives are met.

The position requires extensive actuarial expertise, ASA/ACAS progression, and leadership in a complex environment. Location is office-based with potential regional responsibilities.

Qualifications

• Bachelor’s Degree with strong emphasis in Actuarial Science, Mathematics and Statistics.
• Substitutions: None.
• Preferred: Degree in Actuarial Science, Mathematics, or Statistics.

Responsibilities

• Provide overall management and technical oversight of actuarial staff and projects.
• Oversee rate filings preparation for large and small group products.
• Develop and implement rating strategies in collaboration with underwriting, sales, and product teams.
• Support claim reserve processes and risk management for new products.
• Identify trends affecting pricing and adjust strategies accordingly.
• Perform additional duties as assigned.

Skills

Staff management

Pricing strategy

Actuarial analysis

Education

Bachelor’s Degree in Actuarial Science, Mathematics and Statistics

Bachelor’s Degree in Actuarial Science, Mathematics, or Statistics

Job description

Company :

Highmark Inc.

Job Description :

JOB SUMMARY

This job is responsible for the overall management and technical oversight of an actuarial staff (fellows, associates, actuarial candidates, and/or support personnel) where activities are concerned with pricing and rate development; overseeing assigned actuarial staff and projects and developing and implementing sound actuarial policies and practices to help Highmark meet its financial objectives; providing technical support for other areas such as Product Management & Development, Underwriting & Rating, and Sales.

ESSENTIAL RESPONSIBILITIES

• Perform management responsibilities to include, but are not limited to: involved in hiring and termination decisions, coaching and development, rewards and recognition, performance management and staff productivity. Plan, organize, staff, direct and control the day-to-day operations of the department; develop and implement policies and programs as necessary; may have budgetary responsibility and authority.
• Oversee the preparation of rate filings for large group, small group, direct pay, or senior products.
• Work with Underwriting and Rating, Sales and Product Management and Development to develop and implement appropriate rating strategies for group, direct pay or senior lines of business. Ensure that all strategies are in compliance with rate filings and applicable regulations.
• Provide advanced support for the claim reserve process.
• Provide assistance and risk management to the Product Management and Development area for pricing development of new products. Ensure that all new products are financially viable and stable.
• Determine underlying factors impacting pure premium trends for various products and regions. Monitor trends for use in rating. Identify any shifts in trend and take appropriate pricing actions.
• Other duties as assigned or requested.

EDUCATION

Required

• Bachelor’s Degree, with a strong emphasis in Actuarial Science, Mathematics and Statistics

Substitutions

• None

Preferred

• Bachelor’s Degree in Actuarial Science, Mathematics, or Statistics

EXPERIENCE

Minimum

• 8 years in an Actuarial role
• 5 years in a management role and/or leading teams and/or projects of varying size and complexity
• Attainment of the ASA or ACAS (Associate) designation AND pursuing FSA or FCAS (Fellowship) designation in the Society of Actuaries or Casualty Actuarial Society
• Member of the American Academy of Actuaries (MAAA)

Preferred

• 10 years in an Actuarial role
• Attainment of FSA or FCAS (Fellowship) in the Society of Actuaries or Casualty Actuarial Society

SKILLS

• Ability to apply extensive knowledge of actuarial methods and procedures
• Strong supervisory, communication, organization and project management skills
• In-depth knowledge of one or more of the following: premium rate calculations, required reserves, plan design, trend analysis, rate table construction, actuarial research, or systems development

Language (Other than English):

None

Travel Requirement:

0% - 25%

PHYSICAL, MENTAL DEMANDS and WORKING CONDITIONS

Position Type

Office-based

Teaches / trains others regularly

Occasionally

Travel regularly from the office to various work sites or from site-to-site

Never

Works primarily out-of-the office selling products/services (sales employees)

Never

Physical work site required

Yes

Lifting: up to 10 pounds

Constantly

Lifting: 10 to 25 pounds

Occasionally

Lifting: 25 to 50 pounds

Never

Disclaimer: The job description has been designed to indicate the general nature and essential duties and responsibilities of work performed by employees within this job title. It may not contain a comprehensive inventory of all duties, responsibilities, and qualifications required of employees to do this job.

Compliance Requirement: This job adheres to the ethical and legal standards and behavioral expectations as set forth in the code of business conduct and company policies.

As a component of job responsibilities, employees may have access to covered information, cardholder data, or other confidential customer information that must be protected at all times. In connection with this, all employees must comply with both the Health Insurance Portability Accountability Act of 1996 (HIPAA) as described in the Notice of Privacy Practices and Privacy Policies and Procedures as well as all data security guidelines established within the Company’s Handbook of Privacy Policies and Practices and Information Security Policy.

Furthermore, it is every employee’s responsibility to comply with the company’s Code of Business Conduct. This includes but is not limited to adherence to applicable federal and state laws, rules, and regulations as well as company policies and training requirements.

Pay Range Minimum:

$169,500.00

Pay Range Maximum:

$286,700.00

Base pay is determined by a variety of factors including a candidate’s qualifications, experience, and expected contributions, as well as internal peer equity, market, and business considerations. The displayed salary range does not reflect any geographic differential Highmark may apply for certain locations based upon comparative markets.

Highmark Health and its affiliates prohibit discrimination against qualified individuals based on their status as protected veterans or individuals with disabilities and prohibit discrimination against all individuals based on any category protected by applicable federal, state, or local law.

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