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 to include, but are not limited to: involved in 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.

• Provides overall direction relative to the review and evaluation of product pricing strategy and policies. Responsible for pricing on all products, including but not limited to building sound pricing models, working with internal staff to arrive at sound products and strategies, and working with the regulatory authorities to approve products/pricing.

• Devises, collects, maintains, and reports financial and statistical information required to monitor cost and utilization trends for all lines of business and benefits in order to ensure accuracy of the factors used in current rating/financial arrangements.

• Responsible for tracking and projecting trend rates for every line of business.This includes monthly tracking, finding causes, and providing guidance for executive leadership, pricing and budgeting processes.Acts as a liaison with insurance regulators, external auditors, and Board of Directors with regard to pricing, loss reserving or other actuarial matters.Represents HMIG in meetings with significant customers to maintain the company's redibility and gain their confidence.

• Responsible for all work related to reserves, including but not limited to monthly derivation or required reserves, determining best methods for predicting required reserves, providing an Actuarial Statement of Opinion for the reserves, and working with auditors to arrive at mutually acceptable conclusions.

• Ensure the calculation of the unpaid claims liability, the reporting of underwriting/financial results by line of business and product, and the reporting of contract inventory for the monthly financial statement.

• Ensure a financial forecasting system which generates accurate projections relative to income, claims, administrative expenses, underwriting gains/losses, investment income, by line of business, with the ability to explain variances to executive management.

• Work cross-functionally with Underwriting and Operations departments to ensure that business knowledge gathered from our customers and providers is incorporated into decision-making process.Acts as a visible leader impacting strategic initiatives in the form of ideas, market research, financial modeling, business plan development, and implementation.This can include non-traditional areas such as: partnership effectiveness, vendor effectiveness, etc.

• Understanding of financial reinsurance structures and ability to manage business efficiently from a capital perspective.Including a knowledge of assumed and ceded accident and health reinsurance related to pricing and reserving implications.

• Other duties as assigned or requested.

EXPERIENCE

Required

• 10 years of experience in Management or leadership role

• 10 years of experience in Industry experience in actuarial function

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 at all levels of the business, internally and externally

• Colaborate with other parts of the organiztion to achieve shared success

• Influence others through relationship and partnership

• 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 in lieu of bachelor's degree.

Preferred

• Masters 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 (sales employees)

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.

As a component of job responsibilities, employees may have access to covered information, cardholder data, or other confidential customer information that must be protected at all times. In connection with this, all employees must comply with both the Health Insurance Portability Accountability Act of 1996 (HIPAA) as described in the Notice of Privacy Practices and Privacy Policies and Procedures as well as all data security guidelines established within the Company’s Handbook of Privacy Policies and Practices and Information Security Policy.

Furthermore, it is every employee’s responsibility to comply with the company’s Code of Business Conduct. This includes but is not limited to adherence to applicable federal and state laws, rules, and regulations as well as company policies and training requirements.

Pay Range Minimum:

$198,900.00

Pay Range Maximum:

$400,468.00

Base pay is determined by a variety of factors including a candidate’s qualifications, experience, and expected contributions, as well as internal peer equity, market, and business considerations. The displayed salary range does not reflect any geographic differential Highmark may apply for certain locations based upon comparative markets.

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. Highmark Health and its affiliates take affirmative action to employ and advance in employment individuals without regard to race, color, age, religion, sex, national origin, sexual orientation/gender identity, protected veteran status or disability.

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Req ID: J254948