Actuary jobs in Iowa
Actuary utilizes statistical analysis and modeling to assess and manage risk and estimate financial outcomes. Compiles, prepares, and analyzes data to develop statistical models, probability tables, and actuarial studies and evaluate the likelihood and financial impact of various risks. Being an Actuary assists with product design and development by analyzing risk groups and calculating appropriate insurance rates, premium levels, and rating systems and structures. Records and tracks accruals, claims, and settlements and prepares documents for input into regulatory filings, financial budgets, forecasts, and other financial projections. Additionally, Actuary applies knowledge of mathematics, probability, statistics, principles of finance and business to calculations in life, health, social, and casualty insurance, annuities, and pensions. Requires a bachelor's degree. Must be currently pursuing the designation of ASA (Associate) in the Society of Actuaries. Typically reports to a manager. The Actuary work is closely managed. Works on projects/matters of limited complexity in a support role. To be an Actuary typically requires 0-2 years of related experience. (Copyright 2024 Salary.com)
Recently Added Actuary jobs
Actuary
- Wellmark Blue Cross and Blue Shield
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Des Moines, IA
FULL_TIME
-
Company Description
Why Wellmark: We are a mutual insurance company owned by our policy holders across Iowa and South Dakota, and we’ve built our reputation on over 80 years’ worth of trust. We are not motivated by profits. We are motivated by the well-being of our friends, family, and neighbors–our members. If you’re passionate about joining an organization working hard to put its members first, to provide best-in-class service, and one that is committed to sustainability and innovation, consider applying today!
Learn more about our unique benefit offerings here.
You can also learn more about working at Wellmark here.
Job Description
As an Actuary, you will support business strategies related to financial risk for your assigned market segments. Evaluate financial risk and competitiveness associated with provider networks, premium rate setting, risk adjustment methodologies, exchanges (public and private), new technology, legislative and regulatory changes, utilization management programs, and other market forces. Determine forecasts and trends as appropriate. Build and maintain relationships with key customers and strategic partners.
Qualifications
Required:- Bachelor's Degree in Actuarial Science or related field, or direct and applicable work experience
- Associate of the Society of Actuaries (ASA)
- Minimum 4 years of experience in an actuarial role within health insurance
- Thorough knowledge of at least one computer language, such as R, SAS or SQL
- Advanced leading subject matter expert in two or more of pricing, reserving, or predictive modeling or other technical actuarial area: catastrophe model, economic capital model or assumed reinsurance with excellent knowledge of statistics and probability
- Proven ability to organize and analyze data, develop predictive models to drive business decisions, interpret the model results, turn data into actionable insights, and effectively communicate model results
- Excellent verbal and written communication and presentation skills, with the ability to effectively communicate to varying audiences
- Strong consultation and interpersonal skills, with the ability to build relationships and collaborate across the business to produce results
- Ability to independently manage projects and make decisions in a deadline driven, fast-paced environment
- Proven ability to understating of applicable rules and regulations
- Ability to coach and mentor others. Ability to effectively lead a team
- Proficiency with Microsoft Suite and technical aptitude to learn new systems quickly and produce ad hoc reports. Advanced knowledge of Excel, PowerPoint and PowerBI and Word
- Bachelor's Degree in Actuarial Science or a related field
- Ability to facilitate presentations to varying audiences, including key decision makers
- Ability to identify creative, innovative solutions that help support and achieve long-range strategic goals
- Pharmacy experience, such as evaluating PBM contracts, analyzing Pharmacy discounts/rebates, or determining client-specific Pharmacy financial guarantees.
- Provide analysis and recommendations in order for assigned market segment(s) to achieve corporate profitability objectives, by initiating analyses based on review of the market segment(s) that are both assigned and initiated.
- Provide dependable, accurate and timely information regarding rates, trends, rating factors and formulas to support internal stakeholder functions (e.g. Underwriting, Product Development). Provide information relating to regulations and rules. Consult on various issues related to rating of specific groups or benefits.
- Develop rates, rating factors and rate filings. Develop and maintain rating methods and models. Develop and maintain sound liability estimation methodologies.
- Initiate comprehensive and timely data analysis of health care trends and financial measures with summary conclusions. Collaborate and partner with Business Analytics staff regarding data analysis for assigned work.
- Maintain, forecast, and provide oversight for needed rate increases by assigned market segments. Use data collection and research methodologies that meet established actuarial guidelines for statistical accuracy and that will produce reasonable results.
- Perform peer review activities including reviewing data, formulas and calculations as needed to validate work products completed by others. Reviewer should also be able to sign off and certify that work is in accordance with standard actuarial principles and is in accordance with any regulatory guidelines.
- Calculate adequate unpaid claims liabilities, with direction, as assigned. Provide information as needed for financial reporting (e.g. reserves, annual statement exhibits).
- Provide technical input on changes to existing and new regulation rules; including recommendations that contribute to top-level decision-making regarding products, pricing, financial performance, distribution, regulatory compliance, and legislative issues. Interpret rating regulations.
- Provide information to internal stakeholders in the areas of trends and rating decisions to aid in sales and retention and impact of provider contracts on pricing and experience by product.
- Consult with various departments such as Rating & Underwriting, Healthcare Informatics, Network Management, Product Development, Provider Contracting, Corporate Communications, Financial Reporting, Compliance and others as needed on various initiatives.
- Prepare and maintain documentation related to standard operating procedures as well as routine and special projects.
- Serve as a subject matter resource for corporate or departmental process improvement initiatives, involving designing, adjusting, and documenting work processes workflow to ensure that predictable and replicable success is achieved through best practice. Adopt a whole system view in evaluating and improving the sequence and content of work activities to optimize process effectiveness and integrity.
- Provide benefit cost information for various legislative initiatives. Provide technical input on changes to new and existing regulations and rules. Interpret how regulatory and legislative changes may affect business and develop impact analyses.
- Other duties as assigned.
The policy of Wellmark Blue Cross Blue Shield is to recruit, hire, train and promote individuals in all job classifications without regard to race, color, religion, sex, national origin, age, veteran status, disability, sexual orientation, gender identity or any other characteristic protected by law.
Applicants requiring a reasonable accommodation due to a disability at any stage of the employment application process should contact us at careers@wellmark.com
Please inform us if you meet the definition of a "Covered DoD official". - 12 Days Ago
Associate Actuary - REMOTE
- transamerica1
-
Rapids, IA
FULL_TIME
- Job Family Actuarial About Us At Transamerica, hard work, innovative thinking, and personal accountability are qualities we honor and reward. We understand the potential unleashed by leveraging the ta...
- 1 Month Ago
Actuary - Variable Annuity Valuation
- transamerica1
-
Rapids, IA
FULL_TIME
- Job Family Actuarial About Us At Transamerica, hard work, innovative thinking, and personal accountability are qualities we honor and reward. We understand the potential unleashed by leveraging the ta...
- 1 Month Ago
Chief Actuary - Cayman
- Fidelity & Guaranty Life Insurance Company
-
Des Moines, IA
FULL_TIME
- F&G is hiring for a Chief Actuary role for Cayman Re Ltd. This role provides support to F&G's offshore team in developing reserves and analysis used in reporting financial results. This role will also...
- 18 Days Ago
Senior Actuary - Consolidated Reporting WORK FROM HOME
- transamerica1
-
Rapids, IA
FULL_TIME
- Job Family Actuarial About Us At Transamerica, hard work, innovative thinking, and personal accountability are qualities we honor and reward. We understand the potential unleashed by leveraging the ta...
- 3 Days Ago
Actuary jobs at Popular Companies
Pricing Actuary
- JCW
-
- JCW is currently recruiting on behalf of a well-established P&C Insurance Company who are looking to add an associate ac...
- 6/11/2024 12:00:00 AM
Associate Actuary
- USAA
-
Phoenix, AZ
- Why USAA? Why USAA? Lets do something that really matters. At USAA, we have an important mission: facilitating the finan...
- 6/10/2024 12:00:00 AM
Associate Actuary
- USAA
-
Colorado Springs, CO
- Why USAA? Why USAA? Lets do something that really matters. At USAA, we have an important mission: facilitating the finan...
- 6/10/2024 12:00:00 AM
Actuary - Remote
- USAble Life
-
Little Rock, AR
- Description When it comes to making a meaningful difference in the lives of our customers and employees, USAble Life is ...
- 6/9/2024 12:00:00 AM
Actuary
- PRI Technology
-
Whitehouse Station, NJ
- Job Description Job Description Actuary My name is Bill Stevens and I have a new twelve month plus Actuary opportunity a...
- 6/9/2024 12:00:00 AM
Enrolled Actuary
- Pension Associates Retirement Planning, LLC
-
Stamford, CT
- Job Description Job Description Pension Associates Retirement Planning LLC is a third party administration firm located ...
- 6/8/2024 12:00:00 AM
Associate Actuary
- JCW
-
- JCW is currently recruiting on behalf of a rapidly growing Property & Casualty Insurance Company who are looking to add ...
- 6/8/2024 12:00:00 AM
Associate Actuary
- JCW
-
- JCW is currently recruiting on behalf of a rapidly growing Specialty Insurance Company who are looking to add an associa...
- 6/7/2024 12:00:00 AM
About Iowa
Iowa (/ˈaɪəwə/ (listen)) is a state in the Midwestern United States, bordered by the Mississippi River to the east and the Missouri River and Big Sioux River to the west. It is bordered by six states; Wisconsin to the northeast, Illinois to the east, Missouri to the south, Nebraska to the west, South Dakota to the northwest and Minnesota to the north.
In colonial times, Iowa was a part of French Louisiana and Spanish Louisiana; its state flag is patterned after the flag of France. After the Louisiana Purchase, people laid the foundation for an agriculture-based economy in the heart of the Corn...
Source: Wikipedia (as of 04/11/2019). Read more from Wikipedia
Income Estimation for Actuary jobs
$70,770 to $88,557
Most Popular Cities in Iowa for Actuary Jobs
What does an Actuary do?
Actuary in Philadelphia, PA
An actuary can study the market, the risk it exposes their clients/firms to and try to strategize accordingly.
October 07, 2019
Actuary in Raleigh, NC
Reserving actuary does this by studying patterns from the past or expert opinion.
December 05, 2019
Actuary in Vincennes, IN
It provides a useful starting point for those considering a career as an actuary.
December 12, 2019