Director of Actuarial Services

  • 33186
  • Life - Actuarial
  • |
  • Pennsylvania, United States
  • |
  • Oct 31, 2017
Insurance Organization
RESPONSIBILITIES
  • Responsible for all aspects of actuarial components of monthly, quarterly, and other periodic financial statements and reporting to ownership and regulatory authorities as needed.
  • Use industry knowledge and expertise to provide insights to the company on best practices and process improvements wrt actuarial components of financial reporting.
  • In coordination with the Finance Department, own and drive the actuarial components required to shorten monthly close times while improving accuracy and controls.
  • Participate as point of contact between external consultants, auditors, regulators and internal actuarial management as applicable.
  • Rebuilding, developing and managing actuarial expertise and processes for the support automation and improvement of the company’s financial reporting capabilities to both internal and external constituents.
  • Assess the design and execution of the actuarial department’s financial reporting support processes and transition knowledge and the management of those processes from outside consultants to internal actuarial where applicable.
  • Assume internal actuarial and expert role in supporting all state and federal regulatory reporting and filing requirements as needed.
  • Work with Finance, Compliance and other plan departments as needed to represent actuarial perspective in identifying, implementing and coordinating improved information flow and tools. Assure actuarial department’s ability to provide timely and accurate financial reporting, management discussion and analysis for executive leadership and owner hospital systems.
  • Support plan efforts to develop and maintain alignment of various company views and reporting of the plan’s transactional, enrollment and other data, including collaboration with but not limited to Health Care Economics, Finance and other functions within Actuarial Services.
  • Serve as the primary subject matter expert and liaison to other leaders and areas of the company on behalf of Actuarial, as needed to drive day-to-day business improvement collaboration between Actuarial and other business functions.
  • Provide expert analyses and recommendations to Actuarial and other senior leaders that may affect Actuarial internal processes and operations as well as broader business financial, strategic and other business decisions.
  • Act as internal actuarial lead and assume subject matter expert role on all aspects of financial reporting supported, informed or impacted by external and internal actuarial resources and relationships involved with those functions.
  • Provide leadership in managing and coordinating, reserving, financial reporting, budgeting, and forecasting with inputs from other SMEs and plan functions within and outside of Actuarial services wrt risk scores, large claim identification, Medicare Advantage quality stars, cost of care initiatives, provider contracting, etc.; as well as ad hoc analyses needed to provide business intelligence to senior leadership.
  • Management responsibilities include managing and assigning workflow to actuarial direct reports and other staff in the execution of assigned actuarial responsibilities and assuring alignment of actuarial priorities and work product with business needs as defined by senior leadership.
  • Demonstrate a leadership role in the selection and hiring of actuarial staff, managing actuarial and other staff for both actuarial and inter-departmental projects. Manage continual improvement of actuarial processes and make changes as needed to support the business.
  • Manage, maintain and improve HPP’s Actuarial Services tools, processes, and actuarial talent as needed in the course of actuarial work.
  • Represent Actuarial Services and HPP in written and verbal communications, presentations and meetings with regulators, owners and other outside parties regarding matters requiring actuarial expertise.
  • Represent actuarial department and work products as needed to support internal and external compliance and other audit exercises involving Actuarial.
  • Represent Actuarial Services as a subject matter expert or provide support as needed for key meetings and other audiences such as the Finance Committee of the Board of Directors, Finance Department Leadership, Executive Management and others as needed.
QUALIFICATIONS
  • BS/BA required. Actuarial Science, Mathematics, Finance or other analytical curriculum is a plus.
  • Member of the American Academy of Actuaries and/or Associate or Fellow of the Society of Actuaries.
  • Experience must include a minimum of 10 years’ experience in the health insurance industry, with significant concentration on managed care.
  • 5+ years of recent, combined hands-on experience and managerial responsibility for substantial portions of reserving, actuarial support of financial reporting and forecasting
  • Maintain memberships in the Society of Actuaries and the American Academy of Actuaries.
  • Experience interacting with state or federal regulators, CMS or other external regulatory or auditing entities preferred
  • Experience or familiarity with Medicare and PA Medicaid is prefered , but not essential.
  • Leadership experience, including formal managerial responsibilities for direct reports and projects, with a preference for experience with effectively and successfully evaluating and hiring appropriate and successful actuarial talent.
  • Ability to work collaboratively and effectively with: internal Finance team; external consultants; CMS & state regulators; internal & external auditors; reinsurers.
  • Hands on experience driving process improvement wrt reserving and actuarial processes that support all aspects of financial reporting.
  • Strong analytic and critical thinking skills and a demonstrated ability to identify business issues, drivers and solutions individually and in collaboration with other subject matter experts.
  • A demonstrated ability to manage multiple work streams and priorities simultaneously; handle changes in priorities as dictated by the business; work within tight time constraints.
  • Substantial or expert working knowledge of data organization and extraction for analysis; as well as with querying, analytical and reporting tools.
  • Expert level working knowledge of Excel.
  • Must have strong written and verbal communication skills including the ability to speak to executive and board level officers in formal settings.