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Senior Actuarial Analyst

Employer
Sanford Health
Location
Sioux Falls, South Dakota
Salary
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Job Details


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.
See yourself at Sanford!

Facility: Cherapa Place Building

Location: Sioux Falls, SD

Address: 300 N Cherapa Pl, Sioux Falls, SD 57103, USA

Shift: Day

Job Schedule: Full time

Weekly Hours: 40.00

Job Summary

The Senior Actuarial Analyst utilizes statistical models to analyze complex data and calculate the probability of costs associated with certain events, such as product failure, accidents, injury, and death. Uses the results to design and price insurance policies. Supports business operations related to analyzing, developing and validating statistical data. Exposure to a broad and very complex array of core actuarial concepts such as rate-setting, reserving, model-building, seasonality and forecasting. Maintains aspects of existing methodologies and reporting capabilities. Participates in the assessment of proposed changes. Applies the appropriate actuarial analytical tools to the data and performs analysis. Updates actuarial models. 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. Provides analysis 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 analysis for various ad hoc actuarial studies. Reviews requirements needed to accurately assess various elements of risk, cost, and utilization, and its financial impact. Produces reports for use for requesting 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.

Department Details
  • being part of a growing organization, and having the ability to work on projects that have a direct impact on patients, families, and communities.

Qualifications

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 four or more Actuarial exams. Three years experience in collecting, analyzing and summarizing qualitative/quantitative data preferred. General computer skills with strong excel and database experience desired. Experience with Medicare Advantage is highly preferred.
Advanced student, near American Statistical Association (ASA) preferred.

Benefits

Sanford Health offers an attractive benefits package for qualifying full-time and part-time employees. Depending on eligibility, a variety of benefits include health insurance, dental insurance, vision insurance, life insurance, a 401(k) retirement plan, work/life balance benefits, sick leave and paid time off. To review your benefit eligibility, visit https://sanfordhealth.jobs/benefits .
Sanford is an EEO/AA Employer M/F/Disability/Vet. If you are an individual with a disability and would like to request an accommodation for help with your online application, please call 1-877-673-0854 or send an email to talent@sanfordhealth.org .
Sanford Health has a Drug Free Workplace Policy. An accepted offer will require a drug screen and pre-employment background screening as a condition of employment.

Job Function: Health Plan

Req Number: R-39971

Featured: No

Company

Sanford Health is excited to be on a journey of tremendous growth and momentum. With our vast geography, cutting-edge medicine, sophisticated research, advanced education and our own health plan, we are unique in what we do and how we do it. Through relationships built on trust and successful performance and a vision to improve the human condition, Sanford seeks to make a significant impact on health and healing. With a commitment to diversity and inclusion, our journey as an organization includes continually building on the diverse talents, experiences and beliefs of our employees, as well as the patients and communities we serve. We are proud to be from the Midwest and to impact the world. We look forward to joining with you in the journey.

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