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at Wellmark, inc.
- Job ID
- Requires Non-Compete?
Wellmark is currently recruiting for an Actuary to join our team. In this role, you will conduct risk and pricing analysis, maintain reporting, develop best practice actuarial models, and make recommendations to leadership. You will develop and provide actuarial and financial recommendations to senior actuarial leadership that protect the organizations financial integrity. Information and recommendations provided must be sound and consistent across levels of liabilities, target pricing margins, corporate goals, new initiatives and other measures related to financial solvency. You will ensure sound interpretation of data and development of analytics, methods, and formulae. Ideal candidates enjoy problem solving, are skilled at explaining complex information in layman’s terms, and they’re naturally inquisitive.
Why Wellmark? We’re a mutual insurance company owned by our policy holders across Iowa and South Dakota, and we’ve built our reputation on over 80 years’ worth of trust. We are not motivated by profits. We are motivated by the well-being of our friends, family, and neighbors–our members. If you’re passionate about joining an organization working hard to put its members first, to provide best-in-class service, and one committed to sustainability and innovation, consider applying today.
Minimum Qualifications Required (all must be met to be considered)
- Bachelor’s Degree in Actuarial Science or related field, or direct and applicable work experience
- Associate of Society of Actuaries (ASA)
- Minimum of 4 years:
- Experience in an Actuarial, Underwriting or related role
- Health insurance industry experience, including some exposure to Large Group pricing
- Strong analytical skills, with the ability to analyze data to drive business decisions, including the identification and management of risk
- Strong communication skills, both verbal and written
- Demonstrated problem solving skills, with the strong attention to detail
- Excellent interpersonal skills, with the ability to build relationships across the business and collaborate to get results
Hiring Specifications Preferred
- Bachelor’s Degree in Actuarial Science or related field
b. Ensure the Chief Actuary is apprised of current and future health care and insurance industry developments that contribute to decision making by initiating analyses and summarizing conclusions.
c. Initiate comprehensive and timely data analysis of health care trends and financial measures with summary conclusions. Provide information and recommendations that contribute to top level decision-making regarding products, pricing, financial performance, distribution, regulatory compliance, and legislative issues. Interpret rating regulations.
d. Provide dependable, accurate, and timely forecasts and budgets for revenue and benefits, as assigned.
e. Provide technical input on changes to existing and new regulations and rules.
f. Provide information to internal stakeholders in the areas of trends and rating decisions to aid in sales and retention and impact of provider contracts on pricing and experience by product.
g. Calculate adequate unpaid claims liabilities, as assigned.
h. Maintain, forecast, and provide oversight for needed rate increases by assigned market segments.
i. Use data collection and research methodologies that meet established guidelines for statistical accuracy and that will produce realistic results.
j. Provide background and recommendations for internal projects and inquiries.
k. Other duties as assigned.