Highmark Health Chief Actuary - HMIG in Dover, Delaware
Company:
HM Insurance Group Job Description: JOB SUMMARY The Chief Actuary is responsible for the daily, weekly, monthly, and annual actuarial functions associated with HM Insurance Group (HMIG). The Chief Actuary will lead the organization's product and pricing strategy, provide overall direction relative to the development, application, and consistent administration of actuarial principles and statistical techniques, ensuring the ability to deliver financial results to the Enterprise. ESSENTIAL RESPONSIBILITIES Perform management responsibilities, including hiring and termination decisions, coaching and development, rewards and recognition, performance management, and staff productivity. Plan, organize, staff, direct, and control the day-to-day operations of the department; develop and implement policies and programs as necessary; may have budgetary responsibility and authority. Provide overall direction relative to the review and evaluation of product pricing strategy and policies. Responsible for pricing on all products, including building sound pricing models, working with internal staff, and regulatory authorities. Devise, collect, maintain, and report financial and statistical information required to monitor cost and utilization trends for all lines of business. Track and project trend rates for every line of business, providing guidance for executive leadership, pricing, and budgeting processes. Act as a liaison with insurance regulators, external auditors, and the Board of Directors regarding pricing, loss reserving, or other actuarial matters. Responsible for all work related to reserves, including monthly derivation of required reserves and providing an Actuarial Statement of Opinion. Ensure the calculation of unpaid claims liability and the reporting of underwriting/financial results by line of business. Ensure a financial forecasting system generates accurate projections relative to income, claims, and administrative expenses. Work cross-functionally with Underwriting and Operations departments to incorporate business knowledge into decision-making processes. Understand financial reinsurance structures and manage business efficiently from a capital perspective. Other duties as assigned or requested. EXPERIENCE Required: 10 years of experience in a management or leadership role. 10 years of experience in the actuarial function within the industry. Preferred: 7 years of experience in financial analysis and planning. 5 years of experience in underwriting. SKILLS Inspire others through vision and action. Shape and drive changes within and outside the department. Communicate with impact, clarity, and authenticity. Collaborate with other parts of the organization to achieve shared success. Influence others through relationships and partnerships. Critical and strategic thinking, ability to see the big picture. EDUCATION Required: Bachelor’s degree in Business Management, Finance, Actuarial Science, or related field, or relevant experience and/or education as determined by the company. Preferred: Master's degree in Business Management, Finance, Actuarial Science, or related field. LICENSES or CERTIFICATIONS Required: FSA (Fellow of the Society of Actuaries). Preferred: ASA (Associate of Society of Actuaries). CPA (Certified Public Accountant). Language (Other than English):
None Travel Requirement:
0% - 25% PHYSICAL, MENTAL DEMANDS and WORKING CONDITIONS Position Type:
Office- or Remote-based Teaches / trains others: Occasionally Travel from the office to various work sites or from site-to-site: Rarely Works primarily out-of-the office selling products/services: Never Physical work site required: No Lifting: up to 10 pounds: Constantly Lifting: 10 to 25 pounds: Occasionally Lifting: 25 to 50 pounds: Rarely Disclaimer:
The job description has been designed to indicate the general nature and essential duties and responsibilities of work performed by employees within this job title. It may not contain a comprehensive inventory of all duties, responsibilities, and qualifications required of employees to do this job. Compliance Requirement:
This job adheres to the ethical and legal standards and behavioral expectations as set forth in the code of business conduct and company policies. Pay Range Minimum:
$198,900.00 Pay Range Maximum:
$400,468.00 Highmark Health and its affiliates prohibit discrimination against qualified individuals based on their status as protected veterans or individuals with disabilities, and prohibit discrimination against all individuals based on their race, color, age, religion, sex, national origin, sexual orientation/gender identity, or any other category protected by applicable federal, state, or local law. EEO is The Law Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled/Sexual Orientation/Gender Identity.
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Company:
HM Insurance Group Job Description: JOB SUMMARY The Chief Actuary is responsible for the daily, weekly, monthly, and annual actuarial functions associated with HM Insurance Group (HMIG). The Chief Actuary will lead the organization's product and pricing strategy, provide overall direction relative to the development, application, and consistent administration of actuarial principles and statistical techniques, ensuring the ability to deliver financial results to the Enterprise. ESSENTIAL RESPONSIBILITIES Perform management responsibilities, including hiring and termination decisions, coaching and development, rewards and recognition, performance management, and staff productivity. Plan, organize, staff, direct, and control the day-to-day operations of the department; develop and implement policies and programs as necessary; may have budgetary responsibility and authority. Provide overall direction relative to the review and evaluation of product pricing strategy and policies. Responsible for pricing on all products, including building sound pricing models, working with internal staff, and regulatory authorities. Devise, collect, maintain, and report financial and statistical information required to monitor cost and utilization trends for all lines of business. Track and project trend rates for every line of business, providing guidance for executive leadership, pricing, and budgeting processes. Act as a liaison with insurance regulators, external auditors, and the Board of Directors regarding pricing, loss reserving, or other actuarial matters. Responsible for all work related to reserves, including monthly derivation of required reserves and providing an Actuarial Statement of Opinion. Ensure the calculation of unpaid claims liability and the reporting of underwriting/financial results by line of business. Ensure a financial forecasting system generates accurate projections relative to income, claims, and administrative expenses. Work cross-functionally with Underwriting and Operations departments to incorporate business knowledge into decision-making processes. Understand financial reinsurance structures and manage business efficiently from a capital perspective. Other duties as assigned or requested. EXPERIENCE Required: 10 years of experience in a management or leadership role. 10 years of experience in the actuarial function within the industry. Preferred: 7 years of experience in financial analysis and planning. 5 years of experience in underwriting. SKILLS Inspire others through vision and action. Shape and drive changes within and outside the department. Communicate with impact, clarity, and authenticity. Collaborate with other parts of the organization to achieve shared success. Influence others through relationships and partnerships. Critical and strategic thinking, ability to see the big picture. EDUCATION Required: Bachelor’s degree in Business Management, Finance, Actuarial Science, or related field, or relevant experience and/or education as determined by the company. Preferred: Master's degree in Business Management, Finance, Actuarial Science, or related field. LICENSES or CERTIFICATIONS Required: FSA (Fellow of the Society of Actuaries). Preferred: ASA (Associate of Society of Actuaries). CPA (Certified Public Accountant). Language (Other than English):
None Travel Requirement:
0% - 25% PHYSICAL, MENTAL DEMANDS and WORKING CONDITIONS Position Type:
Office- or Remote-based Teaches / trains others: Occasionally Travel from the office to various work sites or from site-to-site: Rarely Works primarily out-of-the office selling products/services: Never Physical work site required: No Lifting: up to 10 pounds: Constantly Lifting: 10 to 25 pounds: Occasionally Lifting: 25 to 50 pounds: Rarely Disclaimer:
The job description has been designed to indicate the general nature and essential duties and responsibilities of work performed by employees within this job title. It may not contain a comprehensive inventory of all duties, responsibilities, and qualifications required of employees to do this job. Compliance Requirement:
This job adheres to the ethical and legal standards and behavioral expectations as set forth in the code of business conduct and company policies. Pay Range Minimum:
$198,900.00 Pay Range Maximum:
$400,468.00 Highmark Health and its affiliates prohibit discrimination against qualified individuals based on their status as protected veterans or individuals with disabilities, and prohibit discrimination against all individuals based on their race, color, age, religion, sex, national origin, sexual orientation/gender identity, or any other category protected by applicable federal, state, or local law. EEO is The Law Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled/Sexual Orientation/Gender Identity.
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