Director Actuarial Services

Responsible for supervision of staff and the routine operation of the Valuation and NYS Government Programs departments. Develops and provides actuarial and financial recommendations that protect the organization’s financial integrity; information and recommendations provided must be sound and consistent across levels of IBNR liabilities, corporate goals, new initiatives and other complex measures related to financial solvency.  Plays active role in the preparation and interpretation of data and related formulae. Utilizes national and local information sources ranging from industry publications and consultants to analysis of internal data.  Works effectively with a wide variety of internal staff, external vendors, and regulators.

 

Essential Responsibilities/Accountabilities

·  Provide and ensure the integrity of actuarial input to the Plan’s financial statements, State insurance blanks and other related regulatory reports.

·  Identify and track the financial impact of items that were not included in the rate develop/budget.

·  Recommend reserves for blocks of business and in total; initiate and direct analysis to support recommendations. Ensure liabilities are reasonable and set consistent with Plan objectives

·  Review and update corporate liability estimation methodologies when needed.

·  Develop high level interim forecasts on monthly basis.

·  Oversee all actuarial work related to NYS Government Programs.

·  Identify, develop, and manage departmental goals consistent with corporate objectives.

·  Establish individual annual performance goals for staff, guide staff in setting individual learning and development plans, assess individual performance, and determine merit, promotional and recognition salary increases and awards.

·  Ensure the efficient routine management of the valuation department.  Supervise staff and manage group performance to achieve efficient operations.

·  Mentor and develop staff to take leadership roles.

·  Develop staff and create an environment that promotes the continual improvement of department analysis and reporting.

·  Ensure consistent policies and procedures across regions.

·  Manage the department expense budget.

·  Represent the company in meetings and communications with NYSID, NYSDOH, BCBSA, consultants, customers and/or other external parties.

·  Take a leadership role in representing the Valuation department on special projects involving other areas of the company.

·  Initiate, plan, and manage actuarial projects relating to complex issues and trends, coordinating with various disciplines and staff.

·  Identify emerging issues that impact corporate, divisional or departmental goals. Take a leadership role to resolve them involving other departmental areas as needed.

·  Identify and initiate corrective action with regards to Data Warehouse integrity issues.

·  Reconcile Data Warehouse data with corporate financials.

·  Prepare and/or maintain documentation related to standard operating procedures as well as routine and special projects.

·  Identify, lead, participate-in and/or implement process improvement initiatives.

·  Perform ad hoc analyses and projects as directed. Minimum Qualifications

·  Professional designations of Fellow of the Society of Actuaries (FSA) and Member of the American Academy of Actuaries (MAAA.) is required.

·  Meets qualification standards to sign Actuarial Statements of Opinion.

·  Bachelor’s degree in Actuarial Science, Mathematics, Statistics or related field.

·  Ten years experience in financial reporting and reserving in a healthcare environment.

·  Five years experience in leadership role.

·  Advanced analytical skills.

·  Advanced knowledge of financial and risk arrangements.

 Physical Requirements

In support of the Americans with Disabilities Act, this job description lists only those responsibilities and qualifications deemed essential to the position.

 

Equal Opportunity Employer