Associate Actuary

at Humana in Springfield, Illinois, United States

Job Description

Become a part of our caring community and help us put health first

The Associate Actuary role is a role within the Insurance Products Actuarial Medicare Advantage Prescription Drug Pricing team (focused on Individual PD pricing). This role will focus on developing the risk deal assumption and phasing assumption used for bids and projections. This includes building and maintaining the tools used for assumptions, submitting accurate assumptions for bids, researching and understanding drivers of differences between projection rounds, and explaining differences between projections and actuals. This position is responsible for collecting risk deal assumptions from individual MA actuaries, and therefore requires strong focus on frequent collaboration across teams to ensure accurate outputs and methodologies. Additionally, this role will be responsible for ad hoc projects and analysis to help enhance Part D accuracy. The Associate Actuary, Pricing work assignments involve moderately complex to complex issues where the analysis of situations or data requires an in-depth evaluation of variable factors. This is a great role for a collaborative, detailed oriented and creative individual.

The Associate Actuary, Pricing establishes market level financial metrics to align with segment profitability goals, analyzes market level results and projections and develops recommended pricing actions to address gaps to targeted metrics. Leverages market level projections and experience data tools to research root cause and capture insights. Accountable for supporting actuarial certifications on rate filings, including attesting to compliance with state and federal rating and benefit regulations. Begins to influence department’s strategy. Makes decisions on moderately complex to complex issues regarding technical approach for project components, and work is performed without direction. Exercises considerable latitude in determining objectives and approaches to assignments.

More specifically the Associate Actuary will:

+ Analyze existing processes and recommend enhancements/improvements to methodology

+ Take full ownership of outcomes and operate with independence

+ Update and enhance current processes to keep up with PD ever-changing legislation

+ Take complex data and make it understandable for stakeholders and leaders

+ Think through complex dynamics of various aspects of the company

+ Collaborate within and across teams to ensure bid compliance and accuracy

Use your skills to make an impact

Required Qualifications

+ Bachelor’s Degree

+ Associate of Society of Actuaries (ASA) designation

+ Meets eligibility requirements for Humana’s Actuarial Professional Development Program (APDP)

+ MAAA

+ Strong communication

+ Must be passionate about contributing to an organization focused on continuously improving consumer experiences

Preferred Qualifications

+ Experience in SAS

+ Medicare Part D experience

Scheduled Weekly Hours

40

Pay Range

The compensation range below reflects a good faith estimate of starting base pay for full time (40 hours per week) employment at the time of posting. The pay range may be higher or lower based on geographic location and individual pay will vary based on demonstrated job related skills, knowledge, experience, education, certifications, etc.$104,800 – $144,300 per yearThis job is eligible for a bonus incentive plan. This incentive opportunity is based upon company and/or individual performance.

Description of Benefits

Humana, Inc. and its affiliated subsidiaries (collectively, ‘Humana’) offers competitive benefits that support whole-person well-being. Associate benefits are designed to encourage personal wellness and smart healthcare decisions for you and your family while also knowing your life extends outside of work. Among our benefits, Humana provides medical, dental and vision benefits, 401(k) retirement savings plan, time off (including paid time off, company and personal holidays, volunteer time off, paid parental and caregiver leave), short-term and long-term disability, life insurance and many other opportunities.

About us

Humana Inc. (NYSE: HUM) is committed to putting health first – for our teammates, our customers and our company. Through our Humana insurance services and CenterWell healthcare services, we make it easier for the millions of people we serve to achieve their best health – delivering the care and service they need, when they need it. These efforts are leading to a better quality of life for people with Medicare, Medicaid, families, individuals, military service personnel, and communities at large.

Equal Opportunity Employer

It is the policy of ?Humana not to discriminate against any employee or applicant for employment because of race, color, religion, sex, sexual orientation, gender identity, national origin, age, marital status, genetic information, disability or because he or she is a protected veteran. It is also the policy of ?Humana?to take affirmative action to employ and to advance in employment, all persons regardless of race, color, religion, sex, sexual orientation, gender identity, national origin, age, marital status, genetic information, disability or protected veteran status, and to base all employment decisions only on valid job requirements. This policy shall apply to all employment actions, including but not limited to recruitment, hiring, upgrading, promotion, transfer, demotion, layoff, recall, termination, rates of pay or other forms of compensation and selection for training, including apprenticeship, at all levels of employment.

Humana complies with all applicable federal civil rights laws and does not discriminate on the basis of race, color, national origin, age, disability, sex, sexual orientation, gender identity or religion. We also provide free language interpreter services. See our https://www.humana.com/legal/accessibility-resources?source=Humana_Website.