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Director, Actuarial Services
Exempt or Non-ExemptExempt
The Director, Actuarial Services ensures HMSA's financial stability by using sound actuarial principles and judgement. The Director is responsible for the oversight and management of all HMSA's actuarial functions, including trend analysis and projections, pricing, reserving, financial forecasting and financial reporting. He/she also oversees the development and submission of HMSA's required annual actuarial filings, including commercial rate filings and Medicare bid submissions. The Director mentors and leads the actuarial staff who are responsible for carrying out these functions.
- Bachelor's degree in actuarial science, mathematics, statistics, or related field and five (5) years of experience in an actuarial role including a minimum of three years of pricing or underwriting experience or equivalent combination or education and/or experience.
- Three (3) years of management experience.
- Demonstrated ability to work independently, managing multiple priorities simultaneously and under strict time constraints.
- Excellent analytical and problem-solving skills.
- Effective communication skills including negotiation, listening, oral and written communication skills, and the ability to explain technical concepts to a non-technical audience.
- Demonstrated ability to interact and operate with management and staff at all levels.
- Demonstrated ability to effectively manage and develop a team.
- Familiarity with health insurance regulations and compliance.
- Good working knowledge of Microsoft Office applications, including Word.
- Advanced MS Excel skills.
- Experience working with database or statistical software.
- Associate of the Society of Actuaries (ASA) and a Member of the American Academy of Actuaries (MAAA)
Duties and Responsibilities
- Oversee the pricing of HMSA's products for all lines of business, including the following:
- Pricing of new products/plans/benefits and modifications to existing plans/benefits;
- Regularly updating the rating methodology and factors for HMSA's non-ACA commercial group lines of business, including drafting and submitting the associated rate filings;
- Creating and certifying annual ACA individual and small group rate filings;
- Annually updating grandfathered individual rates and submitting the associated rate filing; and
- Collaborating with HMSA's actuarial consultant to develop annual Medicare bid submissions and group retiree pricing.
- Recruit, train and coach staff
- Develop and implement an actuarial study program to encourage formal actuarial education
- Ensure that all work is performed in compliance with the applicable Actuarial Standards of Practice and follows industry best practice
- Implement performance standards and monitor staff performance against the standards, providing regular feedback and coaching in a timely manner; and, implement performance improvement plans as necessary
- Develop the unit business plan and budget and oversee accurate allocation of unit and departmental costs based on program reporting requirements