Vice President, Corporate Actuarial

Hi, we're Oscar. We're hiring a Vice President, Corporate Actuarial to join our Actuarial team.

Oscar is the first health insurance company built around a full stack technology platform and a focus on serving our members. We started Oscar in 2012 to create the kind of health insurance company we would want for ourselves—one that behaves like a doctor in the family.

About the role

The Vice President, Corporate Actuarial is responsible for managing and leading all Actuarial functions for the Valuation pillar of the Actuarial department in support to the Chief Actuarial Officer. The Vice President, Corporate Actuarial directly shapes departmental and company strategy via a deep understanding and expertise with regard to Oscar’s business goals, the health insurance industry, the nationwide regulatory landscape, and the pillar which they support. He or she incorporates and furthers actuarial expertise throughout the organization through their knowledge of leading industry best practices. The Vice President, Corporate Actuarial is an experienced people leader, with proven ability to lead and develop a team of senior and technical Actuarial talent.

You will report to the Chief Actuarial Officer.

Work Location:

Oscar is a blended work culture where everyone, regardless of work type or location, feels connected to their teammates, our culture and our mission.

If you live within commutable distance to our New York City office (in Hudson Square), our Tempe office (off the 101 at University Dr), or our Los Angeles office (in Marina Del Rey), you will be expected to come into the office at least two days each week. Otherwise, this is a remote / work-from-home role.

You must reside in one of the following states: Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington, or Washington, D.C. Note, this list of states is subject to change. #LI-Remote

Pay Transparency:

The base pay for this role is: $255,200 per year - $334,950 per year.  You are also eligible for employee benefits, participation in Oscar's unlimited vacation program, company equity grants and annual performance bonuses.

Responsibilities

• Oversee corporate actuarial team leading the monthly reserving and risk adjustment forecasting processes, ensuring accurate and reliable estimates of loss reserves. Use statistical techniques and actuarial modeling to monitor trends, factoring in economic changes, and internal shifts in claims processes. 
• Provide financial updates and actionable insights to senior leadership membership on a monthly basis, enabling the company to make informed decisions on pricing, risk, and reserve adequacy.
• Serve as appointed actuary for Oscar Health
• Collaborate with senior leadership to design and implement reinsurance strategies that optimize risk transfer, capital allocation, and surplus preservation.
• Maintain clear and consistent communication and collaboration with data science, underwriting, and claims departments to discuss and proactively manage potential changes in claim trends.
• Coordinate feedback and communication between pricing and reserving functions to bridge the Budget and Reserving views of profitability across the business.
• Manage relationships with external actuarial consultants and auditors
• Engage with Finance to inform P/L views and earnings calls
• Perform and/or ensure Actuarial staff are upholding the professional duties and continuing education as required for Actuarial Opinions, and Certifications.
• Own Corporate Actuarial functions for Oscar’s total book of business: all markets, lines of business, and entities. Including but not limited to:
  • Ensure processes are executed timely, maintaining optimal quality and consistency of information reported.
  • Provide an effective level of visibility into financial results and drivers to support analysis, reporting, and business outcomes.
  • Communicate and review with business, executives, and key internal and external stakeholders.
• Own, and continually enhance Actuarial methodologies and business processes specific to the Valuation pillar. Including but not limited to:
  • Ensure models are continuously improved to incorporate the latest data and Actuarial and statistical approaches, and ensure compatibility and consistency across the Actuarial organization.
  • Execute and drive understanding of key risks and drivers with external Stakeholders at the Management Committee and below.
  • Ensure processes