Senior Actuarial Associate - Medicaid

Medica; Hopkins (MN); On-site; USD 89,000 - 152,000; Full time

Benefits offered by this job

Medical benefits

Dental benefits

Vision benefits

PTO

401K

Job summary

Medica, a nonprofit health plan serving multiple states, seeks a Sr Actuarial Associate to perform moderately complex actuarial analyses informing pricing, forecasting, valuation, and risk management. You will develop assumptions, validate models, and communicate results to stakeholders.

This office-based role involves collaboration with senior actuaries, mentoring junior staff, and contributing to process improvements. The role emphasizes data-driven decision making and accountability.

Qualifications

• Bachelor's degree or equivalent experience in a related field.
• 5+ years of work experience beyond degree.
• Strong written and communication skills.
• Database experience - SQL, SAS, R, Python.

Responsibilities

• Perform actuarial analyses & forecasting using sound methods.
• Support pricing, rate development & monitoring with analyses.
• Develop & enhance actuarial models & tools with SQL/Python/R.
• Assess risk and future event impacts through scenario analyses.
• Collaborate & provide actuarial insights to cross-functional partners.

Skills

Strong communication

Education

Bachelor's degree or equivalent

Tools

SQL

SAS

R

Python

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.

The Sr Actuarial Associate independently performs moderately complex actuarial analyses that inform pricing, forecasting, valuation, and risk management decisions. This role applies established actuarial expertise to develop assumptions, evaluate trends, and produce insights that support business performance. Operating with solid professional judgment, the Sr Actuarial Associate explains results to stakeholders and resolves analytical issues. The position contributes to process improvement efforts and serves as a resource for less experienced analysts.

Key Accountabilities

• Perform Actuarial Analyses & Forecasting
  • Conduct experience studies, reserve analyses, and projections using sound actuarial methods
  • Develop and refine assumptions based on historical data and emerging trends
  • Prepare actuarial financial evaluations with clear documentation and defensible methodologies
  • Produce forecasts independently, highlighting risks and uncertainties
• Support Pricing, Rate Development, & Monitoring
  • Review quarterly financial reporting for accuracy and reasonability
  • Develop pricing analyses and rate indications aligned with financial and regulatory requirements
  • Prepare and interpret monitoring reports that assess pricing performance
  • Analyze drivers of variance and communicate findings to team members
  • Recommend data-supported adjustments based on observed experience
• Develop & Enhance Actuarial Models & Tools
  • Build and enhance models using SQL, R, Python, or similar tools
  • Perform validation testing to ensure model reliability and robustness
  • Improve automation and efficiencies in recurring actuarial processes
  • Maintain clear documentation of model logic, assumptions, and limitations
• Assess Risk & Future Event Impacts
  • Evaluate utilization, cost, and market risks using scenario and sensitivity analysis
  • Quantify financial impacts of proposed changes or emerging trends
  • Summarize results in clear narratives and visualizations
  • Collaborate with senior actuaries to refine risk assessments
• Collaborate & Provide Actuarial Insight
  • Explain actuarial results and methodologies to cross-functional partners
  • Support projects by translating actuarial findings into business implications
  • Mentor Actuarial Analyst I staff on methods and tools
  • Contribute ideas to strengthen analytical quality and workflow efficiency

Required Qualifications

• Bachelor's degree or equivalent experience in a related field
• 5+ years of work experience beyond degree
• Strong written and communication skills
• Database experience - SQL, SAS, R, Python

Required Certifications/Licensure

• Associate of the Society of Actuaries (ASA) or near-ASA with additional years of experience

This position is an Office role, which requires an employee to work onsite at our Minnetonka, MN office, on average, 3 days per week.

The full salary grade for this position is $88,800 - $152,300. While the full salary grade is provided, the typical hiring salary range for this role is expected to be between $88,800 - $133,245. 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 compensation, 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.