Actuarial Analyst | Actuarial Services - Health Plan
Sanford Health is one of the largest and fastest-growing not-for-profit health systems in the United States. We're proud to offer many development and advancement opportunities to our nearly 50,000 members of the Sanford Family who are dedicated to the work of health and healing across our broad footprint.
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Facility: Cherapa Place Building
Location: Sioux Falls, SD
Shift: 8 Hours - Day Shifts
Job Schedule: Full time
Weekly Hours: 40.00
The Actuarial Analyst supports business operations related to analyzing, developing and validating statistical data. In addition to trending techniques, this role offers exposure to a broad array of core actuarial concepts such as rate-setting, reserving, model-building, seasonality and forecasting. Maintains aspects of existing methodologies and reports capabilities. Participates in the assessment of proposed changes. Applies the appropriate actuarial analytical tools to data and performs preliminary actuarial and statistical analysis. Updates actuarial models as directed. Refines and collects appropriate data for actuarial analysis and ensures its reasonableness and accuracy by coordination within the division. Employs established formulas and guidelines for timely and accurate rating of existing and prospective insurance contracts. Analyzes claims, enrollment, administrative expense, required reserves, trends, and other factors needed to determine appropriate revenue requirements for corporate financial forecasting and other activities. Provides analytical support for normalized medical trend reporting. Monitors competitor, regulatory and market activities for innovation and opportunity to impact profitable enrollment growth. Obtains, verifies, analyzes and models data. Handles local rate filings and request for proposal responses. Provides analytical support for various ad hoc actuarial studies. Reviews requirements identifies information needed to accurately assess various elements of risk, cost, and utilization, and its financial impact. Produces reports for use by Management and appropriate departments. Makes recommendations based on the analysis of information regarding methods to reduce costs through benefit design modifications or provider contracting. Provides support to Marketing and Sales by offering technical expertise regarding rating and benefit evaluation. Aids in compliance activities required by various State and Federal law.
Bachelor's Degree in mathematics, quantitative economics, or a related field required.
Ability and interest in pursuing Actuarial training and on the Actuarial exam track, having passed two or more Actuarial exams. One year experience in collecting, analyzing and summarizing qualitative/quantitative data preferred. General computer skills with strong excel and database experience desired.
Advanced student, near American Statistical Association (ASA) preferred. Passed a minimum of one actuarial exam is required.
Sanford is an EEO/AA Employer M/F/Disability/Vet.
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Job Function: Health Plan
Req Number: R-30676