Associate Actuary

Position Title:

Associate Actuary

Job Description:

Location: this position will work a hybrid model (remote and office) which requires working in the nearest Elevance Health office 1-2 times per week. The rest of the time would be working remotely (from home). The ideal candidate will live within 50 miles of one of our Elevance Health office locations. **Open to any Elevance Health office**

The Associate Actuary will help lead & support Carelon program actuarial analytics and development of the new Healthcare Financial Analytics Trend Synergy Package, reviewing analyses and healthcare insights from across the department to synthesize into a timely, cohesive Cost and Care and Trend communication to our business partners.

This role will actively seek input and embrace diverse perspectives to listen and learn from other HFA leaders and business partners, in order to better understand claims experience and help the company achieve financial goals. The Trend Synergy Package will connect insights and share enterprise analytical results and strategic insights for costs of care initiative program savings, healthcare cost trend drivers, risk adjustment, and clinical operational metrics.

In addition, this role will lead and support Carelon capitation rate analytics and ad hoc Enterprise modeling to calculate projected impacts to financial paid claims for significant external risk factors or changes.

How you will make an impact:

• Performs key actuarial functions including new product pricing, evaluation of the impact of new legislation, flexible benefit consulting, and special projects.
• Designs and completes special projects such as developing and maintaining experience-rating formulae and creating and/or reviewing alternative settlement formulate and risk sharing models.
• Responsible for recommendations on pricing, marketing, product design, claims, premium and enrollment administration of business unit.
• Responsible for valuation support for business unit by interpreting financial results, variances from forecast to help identify product and segment behavior to assist in the risk management of the business unit.
• Performs sophisticated prospective data analytics; building new and modifying existing complex models to create Carelon capitation rate decision making tools.
• Leads development of the new HFA Trend Synergy Package, reviewing analyses and healthcare insights from across the department to synthesize into a timely, cohesive cost of care and trend communication for our business partners.
• Actively seeks input and embraces diverse perspectives to listen and learn from other HFA leaders and business partners, in order to better understand claims experience and help the company achieve financial goals.
• Acts as a strategic partner to management.

Minimum requirements:

Requires a BA/BS degree and minimum of 4 years related experience; or any combination of education and experience, which would provide an equivalent background. ASA required from the Society of Actuaries (SOA).

Preferred Skills, Capabilities, and Experiences:

• Experience manipulating large datasets and creating data models using Excel. Advanced Excel capabilities needed.
• Experience with Teradata, SQL, SQL Server, or equivalent strongly preferred.
• Knowledge of health care claim trend analytics, pharmacy, Carelon programs, and capitation arrangements strongly preferred
• Strong written and verbal communication skills to communicate effectively across the organization and at different levels, coordinate multiple work efforts, and translate business needs into practical applications and solutions.
• Demonstrated leadership competencies with the ability to collaborate with others and establish working relationships, and to act as a source of direction, training and guidance for less experienced staff.
• The ability to present meaningful results to a multi-disciplinary business audience, and to tell a story with the data through visual representation.

For candidates working in person or remotely in the below locations, the salary* range for this specific position is $102,960 to $148,000.

Locations: California; Colorado; Nevada; New York; Washington State; Jersey City, NJ

In addition to your salary, Elevance Health offers benefits such as, a comprehensive benefits package, incentive and recognition programs, equity stock purchase and 401k contribution (all benefits are subject to eligibility requirements). The salary offered for this specific position is based on a number of legitimate, non-discriminatory factors set by the company. The company is fully committed to ensuring equal pay opportunities for equal work regardless of gender, race, or any other category protected by federal, state, and local pay equity laws.

* The salary range is the range Elevance Health in good faith believes is the range of possible compensation for this role at the time of this posting. This range may be modified in the future and actual compensation may vary from posting based on geographic location, work experience, education and/or skill level. Even within the range, the actual compensation will vary depending on the above factors as well as market/business considerations. No amount is considered to be wages or compensation until such amount is earned, vested, and determinable under the terms and conditions of the applicable policies and plans. The amount and availability of any bonus, commission, benefits, or any other form of compensation and benefits that are allocable to a particular employee remains in the Company's sole discretion unless and until paid and may be modified at the Company's sole discretion, consistent with the law.

Job Level:

Non-Management Exempt

Workshift:

1st Shift (United States of America)

Job Family:

ACT > Actuarial

Be part of an Extraordinary Team

Elevance Health is a health company dedicated to improving lives and communities - and making healthcare simpler. A Fortune 20 company with a longstanding history in the healthcare industry, we are looking for leaders at all levels of the organization who are passionate about making an impact on our members and the communities we serve. You will thrive in a complex and collaborative environment where you take action and ownership to solve problems and lead change. Do you want to be part of a larger purpose and an evolving, high-performance culture that empowers you to make an impact?

We offer a range of market-competitive total rewards that include merit increases, paid holidays, Paid Time Off, and incentive bonus programs (unless covered by a collective bargaining agreement), medical, dental, vision, short and long term disability benefits, 401(k) +match, stock purchase plan, life insurance, wellness programs and financial education resources, to name a few.

Elevance Health operates in a Hybrid Workforce Strategy, providing various levels of flexibility while also ensuring that associates have opportunities to connect in-person. Unless in a designated virtual-eligible role and specified as primarily virtual by the hiring manager, associates are required to work at an Elevance Health location at least once per week, and potentially several times per week. Specific requirements and expectations for time onsite will be discussed as part of the hiring process. Candidates must reside within 50 miles or 1-hour commute each way of a relevant Elevance Health location.

The health of our associates and communities is a top priority for Elevance Health. We require all new candidates in certain patient/member-facing roles to become vaccinated against COVID-19. If you are not vaccinated, your offer will be rescinded unless you provide - and Elevance Health approves - a valid religious or medical explanation as to why you are not able to get vaccinated that Elevance Health is able to reasonably accommodate. Elevance Health will also follow all relevant federal, state and local laws.

Elevance Health has been named as a Fortune Great Place To Work in 2022, has been ranked for five years running as one of the 2023 World's Most Admired Companies by Fortune magazine, and is a growing Top 20 Fortune 500 Company. To learn more about our company and apply, please visit us at careers.ElevanceHealth.com. Elevance Health is an Equal Employment Opportunity employer and all qualified applicants will receive consideration for employment without regard to age, citizenship status, color, creed, disability, ethnicity, genetic information, gender (including gender identity and gender expression), marital status, national origin, race, religion, sex, sexual orientation, veteran status or any other status or condition protected by applicable federal, state, or local laws. Applicants who require accommodation to participate in the job application process may contact [email protected] for assistance.