Humana

Associate Actuary

San Antonio, Texas, United States

Not SpecifiedCompensation
Mid-level (3 to 4 years), Senior (5 to 8 years)Experience Level
Full TimeJob Type
UnknownVisa
Insurance, HealthcareIndustries

Associate Actuary, Valuation

Employment Type: Full time Location Type: Remote Salary: $106,900 - $147,000 per year

Position Overview

Become a part of our caring community and help us put health first. The Associate Actuary, Valuation is responsible for estimates of short-term and long-term reserves required for unpaid claim liability, active life reserves, and other actuarial items that ought to be established, appropriate margins, and premium deficiency reserves for monthly, quarterly, and annual financial statement reporting. Work assignments involve moderately complex to complex issues where the analysis of situations or data requires an in-depth evaluation of variable factors.

This position will report to an Actuary in Corporate Actuarial Valuation and will have significant exposure to Humana’s Appointed Actuary and Senior Leaders throughout the Finance Org.

Responsibilities

  • Responsible for estimates of reserves required for unpaid claim liability, including incurred but not reported (IBNR) reserves for all Humana Insurance lines of business, with a primary focus on Medicaid.
  • Assist with the development of premium deficiency reserve estimates, seasonality factors, and other actuarial items that ought to be established for all Humana lines of business.
  • Partner with Corporate Finance for internal & statutory reporting.
  • Support the Appointed Actuary in the development of the Actuarial Opinions and Actuarial Memorandums.
  • Assist with actuarial reserves and risk control aspects of state Department of Insurance examinations.
  • Begin to influence department’s strategy and make decisions on moderately complex to complex issues regarding the technical approach for project components.
  • Work is performed with limited direction while exercising considerable latitude in determining objectives and approaches to assignments.

Required Qualifications

  • Bachelor's Degree
  • ASA or FSA designation
  • Member of the American Academy of Actuaries
  • Meets the basic education requirements for issuing statements of actuarial opinion (SOAs).
  • 3 or more years of actuarial work experience.
  • Must be passionate about contributing to an organization focused on continuously improving consumer experiences.
  • Strong communication skills.
  • Ability to translate technical issues for non-Actuarial audiences.

Preferred Qualifications

  • 3 or more years of relevant health-related actuarial work experience.
  • 3 or more years of experience with relevant technical skills (Excel, SQL, SAS, VBA, etc.).
  • 1 or more years of experience with health insurance valuation topics.
  • Independent consulting ability.
  • Ability to think holistically through a project.

Travel

While this is a remote position, occasional travel to Humana's offices for training or meetings may be required.

Scheduled Weekly Hours

40 hours per week.

Bonus Incentive Plan

This job is eligible for a bonus incentive plan. This incentive opportunity is based upon company and/or individual performance.

Description of Benefits

Humana, Inc. and its affiliated subsidiaries (collectively, “Humana”) offers competitive benefits that support whole-person well-being. Associate benefits are designed to encourage personal wellness and smart healthcare decisions for you and your family while also knowing your life extends outside of work. Among our benefits, Humana provides medical, dental and vision benefits, 401(k) retirement.

Skills

Actuarial analysis
Reserve estimation
Financial statement reporting
Medicaid
Actuarial opinions
Risk control
Data analysis

Humana

Health insurance provider for seniors and military

About Humana

Humana provides health and well-being services, focusing on Medicare Advantage plans for seniors, military personnel, and communities. Their plans include HMO, PPO, and PFFS options, designed to improve health outcomes through comprehensive and flexible coverage. Humana's revenue comes from government contracts and member premiums, and they aim to maintain high renewal rates by offering quality service and competitive benefits. The company stands out by fostering a culture of inclusivity and belonging among its employees, while also ensuring accessibility for all members, including offering free language interpreter services. Humana's goal is to deliver value to its members through an extensive provider network and innovative health solutions.

Louisville, KentuckyHeadquarters
1961Year Founded
IPOCompany Stage
Social Impact, HealthcareIndustries
10,001+Employees

Risks

Potential over-reliance on AI could disrupt operations if systems fail or are compromised.
Rising medical costs and tightening Medicare reimbursements may strain financial performance.
Leadership change with new CEO Jim Rechtin could lead to strategic disruptions.

Differentiation

Humana is a leader in Medicare Advantage plans, focusing on seniors and military personnel.
The company emphasizes inclusivity, offering free language interpreter services for accessibility.
Humana leverages AI and cloud technologies through a partnership with Google Cloud.

Upsides

Humana's investment in Healthpilot enhances digital enrollment for Medicare options.
The company is the first insurer to cover TMS therapy for adolescent depression.
Humana's focus on value-based care aims to improve outcomes for kidney disease patients.

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