Join HCSC and be part of a purpose-driven company that will invest in your professional development.
Job Summary
This position leads HealthSpring Supplemental Benefits (HSB)'s Valuation team and related ongoing financial reporting functions. HSB is a profitably growing division selling Medicare Supplement and other Supplemental Health and Life products. Current annual revenues are $1.5B, with total liability/DAC balances of approximately $1B.
Responsibilities:
• Serve as Appointed Actuary for HSB Legal Entities, coordinating all annual actuarial statement deliverables.
• Establish monthly balances for claim and policy liabilities/assets including IBNR, UEP, ALR, and DAC.
• Determine and explain drivers of earnings variances related to premium, claims, and reserves on a monthly cycle.
• Complete testing related to Stat and GAAP reporting requirements including Annual Statement reporting, Cash Flow Testing, DAC Recoverability Testing, and Loss Recognition Testing.
• Update and implement reserving/financial processes to coincide with new product and Medicare Supplement charter launches.
• Own and execute Sarbanes-Oxley controls and other governance processes.
• Lead project management of FASB Long Duration Targeted Improvements including methodology/process changes, understanding impacts, annual unlocking and communication of impacts.
• Lead actuarial valuation team and effective ongoing management of valuation functions. Coach and develop talent across team of actuaries and financial analysts.
• Partner with other leaders in Actuarial team and across HSB to drive towards successful outcomes and achievement of strategic objectives. Develop and provide unique insights that support and enable achievement of such goals.
Required Job Qualifications:
* Bachelor degree in Actuarial Science, Mathematics, Statistics or Economics. Other Bachelor (or higher) Degrees may be considered.
* Fellow of the Society of Actuaries (FSA) and Membership in the American Academy of Actuaries (MAAA). In place of attainment of FSA, 4 years of actuarial experience in the health insurance field at the ASA level may be substituted. Compliance with all the membership requirements for each professional designation.
* At least 7 years of actuarial experience in the health insurance or related field.
* Verbal and written communications skills to prepare effective documentation, facilitate training and development, and participate in presentations.
* PC proficiency to include Word and Excel.
Preferred Job Qualifications:
*Experience with valuation
*Experience with Medicare Supplemental health and life product
#LI-TR1
#LI-Hybrid
*This is a hybrid role, in the designated office 3 days/week
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Pay Transparency Statement:
At Health Care Service Corporation, you will be part of an organization committed to offering meaningful benefits to our employees to support their life outside of work. From health and wellness benefits, 401(k) savings plan, pension plan, paid time off, paid parental leave, disability insurance, supplemental life insurance, employee assistance program, paid holidays, tuition reimbursement, plus other incentives, we offer a robust total rewards package for employees. Learn more about our benefit offerings by visiting https://careers.hcsc.com/totalrewards.
The compensation offered will vary depending on your job-related skills, education, knowledge, and experience. This role aligns with an annual incentive bonus plan subject to the terms and the conditions of the plan.
HCSC Employment Statement:
We are an Equal Opportunity Employment employer dedicated to providing a welcoming environment where the unique differences of our employees are respected and valued. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, protected veteran status, or any other legally protected characteristics.
Base Pay Range
$130,800.00 - $242,800.00
Exact compensation may vary based on skills, experience, and location.
Working at
Health Care Service Corporation
Health Care Service Corporation (HCSC) is the largest customer-owned health insurance company in the United States, serving millions of members across its five Blue Cross and Blue Shield-affiliated health plans. With a strong commitment to improving healthcare access and quality, HCSC offers rewarding career opportunities in the actuarial field. As a vital component of HCSC's operations, actuaries play a crucial role in assessing and managing risk. They analyze complex data to develop sound pricing models, ensure the financial stability of insurance products, and support the organization's mission to provide affordable and comprehensive healthcare coverage. Actuaries at HCSC work in a collaborative and innovative environment, leveraging cutting-edge tools and technologies to make data-driven decisions. They collaborate with cross-functional teams, including underwriters, product managers, and healthcare professionals, to develop effective strategies that balance risk and affordability while meeting the evolving needs of members. HCSC values professional development and fosters a culture of continuous learning. Actuaries have access to a wide range of training and development opportunities, including industry seminars, actuarial exams, and mentorship programs. They also benefit from a supportive network of experienced professionals who are dedicated to sharing knowledge and best practices. Joining HCSC as an actuary offers the chance to make a significant impact on the healthcare landscape, improve the lives of individuals and communities, and contribute to the ongoing transformation of the industry. With competitive compensation, comprehensive benefits, and a vibrant work environment, HCSC is an ideal destination for actuaries seeking a fulfilling and rewarding career in the healthcare sector.