Health Care Service Corporation
Director & Actuary- Valuation
Health Care Service Corporation, Tulsa, Oklahoma, United States, 74145
At HCSC, our employees are the cornerstone of our business and the foundation to our success. We empower employees with curated development plans that foster growth and promote rewarding, fulfilling careers.
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 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, a 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 the careers site. 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.
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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 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, a 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 the careers site. 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.
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