Actuary - Commercial Large Group Rate Review

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Position Summary

This is a dual role that serves as a key member of the functional Actuarial team in charge of the Commercial Large Group Rate Review while also supporting the Central Region.

Serve as a leading member of the functional team in charge of the annual Commercial Large Group Rate Review

• Participate as a critical team member to help coordinate the Large Group Rate Review process for the entire country

• Coordinate with the Rating Methodology team on studies/updates 

• Prepare supporting documentation needed for the Large Group Rate Review to assist market actuaries throughout the rate review period

• Run Rate Review Models for determining best estimate pricing recommendations

• Aggregate results into an Executive Summary and prepare powerpoint and other materials for review and approval meetings 

• Meet with the market to discuss technical results including but not limited to rate actions, trend and PCRs, and area factors

• Provide valuable feedback on the Rate Review process to help develop and implement best practices for future cycles

Support the Central Region as a subject matter expert for South Central (TX, OK, NM) markets

• Collaborate with the Plan President, Sales, Finance, Underwriting, Network, Contracting, and Product to develop market specific growth strategies while maintaining enterprise alignment

• Proactively monitor financial performance and provide observations/insights into deep dives

• Participate in the Implementation and Forecasting/Budget discussions

• Oversee the Large Group Rate Filings/DOI objections when applicable

• Takes accountability to ensure market specific requests and deliverables are met in a timely and responsive manner

• Work closely with other regional and functional counterpart on the broader team

• Cultivate continuous improvement to drive accuracy and innovation

Keys to success:

• Demonstrate understanding of complex actuarial functions as well as the market specific dynamics including the competitive landscape

• Build and facilitate creation of initiatives to drive down cost structure

• Take full ownership of complex assignments and act as the trusted lead for the market

• Communicate actuarial findings to business partners

• Anticipate the market’s needs and be able to influence and further recommend course of action as you see fit

• Demonstrate leadership that fosters and supports a strong team of individual contributors

• Support actuarial and underwriting functions by applying quantitative skills and analytical methods

Required Qualifications

• Bachelor's degree along with 3+ years of experience

• ASA (Associate of the Society of Actuaries) designation

• Strong technical, analytical, and financial skills

• Excellent verbal and written communication skills

Preferred Qualifications

• FSA (Fellow of the Society of Actuaries) or actively working towards FSA designation

• Ability to thrive in a constantly evolving environment with competing priorities and deadlines

• Collaborate with key stakeholders to formulate recommendations and course of actions

Education

Bachelor's degree or equivalent experience

Pay Range

The typical pay range for this role is:

$63,300.00 - $139,200.00

This pay range represents the base hourly rate or base annual full-time salary for all positions in the job grade within which this position falls.  The actual base salary offer will depend on a variety of factors including experience, education, geography and other relevant factors.  This position is eligible for a CVS Health bonus, commission or short-term incentive program in addition to the base pay range listed above. 
 
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