The Associate Actuary, Pricing is responsible for setting pricing assumptions, submitting bids, filing and gaining approval of premium rates and rate certifications with regulatory agencies. Supports implementation of rates, new plans and benefit changes. Provides guidance to Product Development on new product/benefit cost impacts. Develops and maintains pricing tools that price standard and custom benefits. 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.
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. Researches and understands competitors in marketplace and collaborates with sales and other partners supporting the markets to develop strategies for profitable membership growth. Accountable for 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.
The role is in the SPA Rx Pricing group and will work with various assumptions and own the Quality Network assumption process. This assumption has deliverables to PDP, MAPD, Group, Part B, Finance and HPS along with various ad-hoc requests. The incumbent will also be expected to drive improvements in our methodologies, tools, and processes.
- Bachelor's Degree
- Associate of Society of Actuaries (ASA) designation
- Meets eligibility requirements for Humana's Actuarial Professional Development Program (APDP)
- Strong communication with actuarial and non-actuarial associates
- Must be passionate about contributing to an organization focused on continuously improving consumer experiences
- Proficiency in SAS and/or other data systems
- Advanced Microsoft Excel skills including ability to link pivots to external data sources, creating pivot tables and summarizing data into reports and dashboards
- Strong organizational skills and ability to manage multiple or competing priorities
- Medicare Part D experience
- Excellent communication and interpersonal skills
- Detail oriented, with project and time management skills
- Strong analytical and problem solving skills