Senior Actuarial Analyst Actuarial Economics

Job Summary

The Senior Actuarial Analyst will work on the Actuarial Economics team. This job will require support of key business functions including monthly medical expense reserve valuation and reconciliation, medical trend analysis, medical expense budgeting and reporting, and experience analysis. This will include obtaining, analyzing, and summarizing data, developing and updating reserve models and databases, performing deep dive analysis, running regular trend reports, analyzing and interpreting results and communicating the results and initial recommendations to management and other departments.

Essential Functions

• Obtain, prepare, and analyze claims information for use in developing the monthly medical expense reserve valuation. Maintain quality documentation for all work products.

• Develop and maintain reserve models to support internal valuation of Incurred But Not Reported (IBNR) Medical Costs.

• Develop models and assumptions for medical expense budgeting across all lines of business.

• Perform variance analysis of actual to budgeted results and summarize causes for variances.

• Perform research needed in areas such as claims development analysis, medical trend analysis, medical claims seasonality analysis, among others.

• Run reports, update databases, conduct research for the Actuarial Economics department.

• Make recommendations for streamlining and improving processes and implement approved changes.

• Make expected progress in the actuarial exams process, if applicable.

Qualifications

Required

• Bachelor's Degree actuarial science or related discipline such as business, economics, statistics or math

• 2 years of relevant experience actuarial or related work experience in the health care industry

• Proficiency with Microsoft Office products (specifically Excel).

• Successful completion of 3+ actuarial exams (not including VEE)

Preferred

• Thorough knowledge of generally accepted actuarial principles

• Thorough knowledge of factors that influence market and competitive conditions

• Basic understanding of financial statements (Balance Sheet, Income Statement, Cashflow).

• Understanding of accounting concepts of entries, reconciliations, and audit support.

• Experience with programming language (SQL); Basic writing and understanding of programming logic.

• Experience with data visualization software (preferably Microsoft Power BI).

A successful Senior Actuarial Analyst will be:

• Self-motivated and curious about financial impacts, making data meaningful, and refining monthly processes.

• Flexible and able to adjust to changing data, data sources, and other health insurance market variables.

• Committed to the delivery of quality, accurate, and complete projects.

The role will include but not be limited to:

• Obtaining, preparing, analyzing, and consolidating data to forecast incurred but not received (IBNR) claims reserve within deadline for the monthly financial close.

• Manipulating large data sets including extraction, analysis, and presentation for actionable recommendations; making data meaningful to effectively tell a story.

• Performing deep dive analysis to understand trends and financial impacts.

• Creating reporting processes and dashboards.

• Refining processes to improve reliability and increase efficiency

• Collaborating with colleagues in other departments to further business knowledge.

• Coordination with internal and external auditors to provide required reporting.

• Interacting with management and other departments as needed to understand needs and present results.

About Corewell Health

As a team member at Corewell Health, you will play an essential role in delivering personalized health care to our patients, members and our communities. We are committed to cultivating and investing in YOU. Our top-notch teams are comprised of collaborators, leaders and innovators that continue to build on one shared mission statement - to improve health, instill humanity and inspire hope. Join a nationally recognized health system with an ambitious vision of continued advancement and excellence.

How Corewell Health cares for you

• Comprehensive benefits package to meet your financial, health, and work/life balance goals. Learn more here.

• On-demand pay program powered by Payactiv

• Discounts directory with deals on the things that matter to you, like restaurants, phone plans, spas, and more!

• Optional identity theft protection, home and auto insurance, pet insurance

• Traditional and Roth retirement options with service contribution and match savings

• Eligibility for benefits is determined by employment type and status

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Corewell Health is committed to providing a safe environment for our team members, patients, visitors, and community. We require a drug-free workplace and require team members to comply with the MMR, Varicella, Tdap, and Influenza vaccine requirement if in an on-site or hybrid workplace category. We are committed to supporting prospective team members who require reasonable accommodations to participate in the job application process, to perform the essential functions of a job, or to enjoy equal benefits and privileges of employment due to a disability, pregnancy, or sincerely held religious belief.

Corewell Health grants equal employment opportunity to all qualified persons without regard to race, color, national origin, sex, disability, age, religion, genetic information, marital status, height, weight, gender, pregnancy, sexual orientation, gender identity or expression, veteran status, or any other legally protected category.

An interconnected, collaborative culture where all are encouraged to bring their whole selves to work, is vital to the health of our organization. As a health system, we advocate for equity as we care for our patients, our communities, and each other. From workshops that develop cultural intelligence, to our inclusion resource groups for people to find community and empowerment at work, we are dedicated to ongoing resources that advance our values of diversity, equity, and inclusion in all that we do. We invite those that share in our commitment to join our team.

You may request assistance in completing the application process by calling 616.486.7447.