Actuarial Analyst 2 or Senior Actuarial Analyst - REMOTE

Who We Are

WPS Health Solutions is a leading not-for-profit health insurer in Wisconsin. Our services offer health insurance plans for individuals, families, seniors, and group plans for small to large businesses. We process claims and provide customer service support for beneficiaries of the Medicare program and manage benefits for millions of active-duty and retired military personnel across the U.S. and abroad. In 2021, WPS Health Solutions celebrated 75 years of making health insurance easier for those we serve. Proud to be military and veteran ready.

Our Culture

WPS' Performance-Based Culture is where the great work and innovations of our people are seen, fueled, and rewarded. We accomplish this by creating an inclusive, empowering employee experience, focusing on People, Work, and Conditions. This results in people bringing their authentic selves to work every day in an organization that successfully adapts to business changes and new opportunities. We are guided by our Purpose: Together, making health care easier for the people we serve.

In 2021 and 2022, WPS Health Solutions was recognized for several awards including:

• Madison, Wisconsin's Top Workplaces
• Top Workplace national cultural excellence awards for Remote Work and Work-Life Flexibility
• Achievers 50 Most Engaged Workplaces® with the further honor of Achievers "Elite 8" winner in the category of Culture Alignment

Role Snapshot

This role will assist and potentially lead ongoing activities in Actuarial Services department. Activities include: reserve estimation, product pricing, financial reporting, risk adjustment, experience monitoring, book of business analysis, trend analysis, rating formula maintenance and rate factor development for small group, large group, individual and Medicare-related products, benefit pricing, corporate financial forecasting, provider network evaluation and competitive analysis.

In this role you will:

• Research potential new products and business ventures as directed.
• Analyze experience, underwriting guidelines, and claims procedures and their effect on pricing and reserving.
• Coordinate generation of monthly reserves calculations, documentation, analysis and initial reserve recommendations using generally accepted actuarial principles, accounting for variances in corporate production, inventory, enrollment, and coverage variances.
• Coordinate preparation, calculation, and management reporting of health care and utilization trends.
• Maintain corporate rate formulas and rating systems for individual, small group, large group, ancillary, and Medicare-related products.
• Research and test adequacy of coverage base rates, credibility factors, demographic factors, and pooling charges.
• Assist in preparation and coordination of all rate filings necessary for Commissioner of Insurance.
• Develop recommendations of pricing factors or rates for new types of coverage or new benefit levels.
• Research financial effects of cost containment strategies.
• Develop Actuarial estimate for future revenue and claims experience.
• Assist in monitoring of forecasted results as they compare to actuals.
• Incorporate rating history and trend experience, growth, market changes, and loss ratio assumptions into models, testing multiple approaches to generate best estimates.
• Research, review, design, and report enrollment and financial experience by line of business, type of contract, type of coverage, and type of benefit as requested by management.
• Research deviations between experience and assumptions and develop recommendations.
• Develop supervisory skills through managing intern workflows and task list.

How do I know this opportunity is right for me? If you:

• Are ready to grow in supporting or leading complete processes
• Have a passion for continuous learning and development
• Have a passion for making processes more efficient
• Enjoy working for a company that does not fear change and champions new ideas

What will I gain from this role?

• Working within a small and agile department that works on individual, small group, large group, employer stop loss and Medicare supplement
• Digging into a variety of different types of projects/work
• Making meaningful connections with other departments and seeing how your work directly impacts decisions
• Experience working in an environment that serves our Nation's military, veterans, Guard and Reserves and Medicare beneficiaries
• Working in a continuous performance feedback environment.

Minimum Qualifications

Actuarial 2

• Bachelor's Degree in related field or equivalent post high school and/or related work experience
• Completion of at least 2 or more Society of Actuaries exams

Senior Actuarial Analyst

• Bachelor's Degree in related field or equivalent post high school and/or related work experience
• 1 or more years of related work experience
• Completion of at least 2 or more Society of Actuaries exams

Preferred Qualifications

Actuarial 2

• 3 or more years of progressively responsible actuarial experience within the health insurance industry
• Reserving and/or pricing experience
• Completion of at least 3 or more Society of Actuaries exams

Senior Actuarial Analyst

• 4 or more years of progressively responsible actuarial experience within the health insurance industry including a project leadership role
• Reserving, pricing, and product development experience
• Provider network pricing
• Completion of at least 4 or more Society of Actuaries exams

Salary Range

Actuarial Analyst 2 - $66,000 to $98,000

Senior Actuarial Analyst - $85,850 to $116,150

The base pay offered for this position may vary within the posted range based on your job-related knowledge, skills, and experience

Work Location

This role is open to remote work in the following approved states:
Arizona, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Iowa, Michigan, Minnesota, Missouri, Nebraska, New Jersey, North Carolina, North Dakota, Ohio, South Carolina, South Dakota, Texas, Virginia, Wisconsin

Benefits

• Actuarial Student Program
• Remote and hybrid work options available
• Performance bonus and/or merit increase opportunities
• 401(k) with dollar-per-dollar match up to 6% of salary (100% vested immediately)
• Competitive paid time off
• Health, dental insurance, Teladoc starts DAY 1
• Review additional benefits here

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Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)