Sr. Actuarial Analyst

Medica; Alabama; Hybrid; USD 70,000 - 105,000; Full time

Job summary

Medica, a nonprofit health plan serving multiple states, is seeking a Sr. Actuarial Analyst to join our Madison, WI office on a hybrid schedule. You will conduct actuarial analyses, develop models, and support pricing, forecasting, and financial decision making while collaborating with Finance, Product, and Operations teams.

The role requires 3+ years of experience, a degree in a related field, and completion of actuarial exams. Competitive compensation and a strong benefits package are provided.

Qualifications

• Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Economics, Finance, or related field.
• 3+ years of work experience beyond degree.
• 4 actuarial exams/modules.

Responsibilities

• Conduct actuarial analyses and forecasting using established methods.
• Develop and maintain actuarial models and tools with documentation.
• Assist in pricing, forecasting, valuation, and financial decision making.

Skills

Actuarial analysis

Forecasting

Data analysis

Cross-functional communication

SQL

R/Python

Education

Bachelor’s degree in Actuarial Science, Math, Statistics, Economics, Finance, or related field

Tools

SQL

R

Python

Job description

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Sr. Actuarial Analyst

Locations

Showing 1 location

Madison
Madison, WI, USA

• Hybrid
• Finance
• Full-Time
• Requisition #: ACTUA006373

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 Analyst performs actuarial analyses and develops models to evaluate future risks and support pricing, forecasting, valuation, and financial decision ‑ making. The role applies developing professional knowledge to analyze historical experience, identify trends, and estimate financial impacts . With growing independence, the Sr. Actuarial Analyst provides interpretations of actuarial results, supports rate development, and produces monitoring reports that inform business and product performance. The position contributes to team objectives by delivering ac curate, well ‑ documented analyses and recommending insights that support future planning. Performs other duties as assigned.

Key Accountabilities

• Conduct Actuarial Analyses & Forecasting
  • 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
• Assist in quantifying risks related to utilization, cost trends, benefit changes, or market dynamics
• Prepare summaries and visualizations that communicate risk drivers and potential financial implications
• Collaborate with senior actuaries to refine risk assumptions and incorporate new information as experience develops
• 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

Required Qualifications

• Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Economics, Finance, or related field
• 3+ years of work experience beyond degree
• 4 actuarial exams/modules

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

The full salary grade for this position is $70,200 - $120,400. While the full salary grade is provided, the typical hiring salary range for this role is expected to be between $70,200 - $105,315. 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.