Senior Actuarial Analyst

Title: Senior Actuarial Analyst

State Role Title: Financial Services Spec III

Hiring Range: $100,000 - $121,124

Pay Band: 6

Agency: Dept of Med Assistance Svcs

Location: Dept of Medical Asst Services

Agency Website: www.dmas.virginia.gov

Recruitment Type: General Public - G

Job Duties

The Department of Medical Assistance Services (DMAS) is excited to offer a competitive opportunity to serve as the Senior Actuarial Analyst in the Provider Rate Development Division.

Job responsibilities will include, but are not limited to:

Must be an Associate of the Society of Actuaries (ASA).

The Senior Actuarial Analyst is responsible for developing, analyzing, and certifying accurate actuarial capitation rates for the entire Cardinal Care Managed Care Program, ensuring compliance with federal and state regulations.

This position plays a critical role in supporting the financial sustainability of the contracted Managed Care Organizations (MCOs) by leveraging advanced data analysis, actuarial expertise, and stakeholder collaboration.

The role directly impacts the efficiency of provider reimbursement processes while addressing complex challenges with sound actuarial judgment to safeguard public resources and maintain public trust.

Located in beautiful Central Virginia, the Richmond area puts you just 2 hours from the Blue Ridge Mountains, Virginia Beach and Washington DC. To learn more about the Richmond, VA area visit: https://www.virginia.org/

The Department of Medical Assistance Services (DMAS) is working to improve the health and well-being of Virginians through access to high quality health care coverage.

DMAS wants talented individuals who can align their experience with the mission of the agency and its core values – service, collaboration, trust, problem solving and adaptability.

At the Department of Medical Assistance Services (DMAS) we encourage and promote that you Come as you are | Become who you want to be | That is our promise.

Minimum Qualifications

Competitive candidates will meet these minimum qualifications:

Required Certifications: Must be an Associate of the Society of Actuaries (ASA).

Experience in finance, specifically in analyzing complex datasets to draw actionable conclusions and recommendations, as well as preparing detailed reports.

Knowledge of reimbursement and capitation rate-setting methodologies utilized by government agencies and private purchasers of healthcare services.

Experience in designing and implementing processes and procedures for advanced financial analysis, including statistical and quantitative methods.

Experience conducting in-depth research on public policy issues, with a focus on health policy and budget analysis, and interpret findings to inform decision-making.

Experience managing capitation reimbursement activities, including rate-setting and financial modeling processes.

Experience using Microsoft Excel for healthcare financial analysis, project management, and aggregating large datasets for reporting purposes.

Experience interpreting and applying state and/or federal regulations to the development of financial models and actuarial analyses for governing managed care programs.

Experience meeting stringent deadlines while maintaining accuracy and attention to detail in deliverables.

Experience communicating effectively with internal and external stakeholders, including demonstrated ability to prepare and present written and oral reports on complex financial or policy issues.

Additional Considerations

Competitive candidates should meet these additional considerations:

Experience in database programming (SAS or similar) to extract and analyze data.

Preferred - Member of the American Academy of Actuaries (MAAA).

Special Instructions

You will be provided a confirmation of receipt when your application and/or résumé is submitted successfully. Please refer to “Your Application” in your account to check the status of your application for this position.

The Virginia Department of Medical Assistance Services (DMAS) does not offer employment-based Sponsorship. Selected candidates will have their work authorization completed using the E‐Verify Program.

The Department of Medical Assistance Services (DMAS) is an Executive Branch