Director of Actuarial Services

Director of Actuarial Services

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

The Director of Actuarial Services will oversee 3 to 4 actuaries and report on financial results of various insurance products, understand factors which will change future revenue and claims costs, and direct recommended rate, administrative, or other risk related changes such that financial projections are achieved.

In this role you will:

• Monitor and manage financial performance of all health insurance products.
• Review and approve corporate reserves, reporting on financial results.
• Review and approve rate changes for insurance products.
• Evaluate health insurance law/regulation changes and determine financial impact on WPS health products.

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

• Are a strong leader that has a proven history of successfully leading and developing teams/programs within Actuarial Services.
• Have experience working with providers to develop creative reimbursement arrangements OR have an interest in doing this.
• Enjoying reviewing and approving financial forecasts.
• Possess strong data analytics experience including predictive modeling and risk scoring models.
• Hold ACA knowledge directly related to risk adjustment and have the interest and ability to perform ACA risk adjustment operations.
• Can evaluate and determine strategy for managing corporate reinsurance treaties.
• Are process improvement minded and continually seek out new and creative ways to approach challenges.

What will I gain from this role?

• Experience launching new Health Insurance products to the market.
• Playing a key role in building out our data analytics capabilities to help meet our business unit's initiatives which will support our solutions focused company.
• Experience developing strategies for growth and profitability.
• Being part of a forward-thinking Health Insurance carrier.
• Working in an environment that serves our Nation's military, veterans, Guard and Reserves along with their families.
• Working in a continuous performance feedback environment that will challenge you while allowing you to challenge others.

Minimum Qualifications

• Bachelor's Degree in related field or equivalent post high school and/or related work experience.
• 5 or more years of related work and/or leadership experience.

Preferred Qualifications

• Bachelor's degree specifically in Actuarial Science, Mathematics, Risk Management, Statistics, or related field.
• Associate of the Society of Actuaries member required upon hire.
• 7 or more years related experience, including 3 years in health insurance industry and 2 years staff supervision with direct program responsibility.
• Experience in pricing, provider financial economics, reserving, Part D, ACA individual, Medicare Supplement, ACA small group, and stop loss.
• Experience quoting large groups and working with ASO groups.

Salary Range

$140,000 ~ $170,000

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

Work Location

This role is open to remote work for this opportunity in the following approved states:

Arizona, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Iowa, Michigan, Minnesota, Missouri, Nebraska, Nevada, New Jersey, North Carolina, North Dakota, Ohio, South Carolina, South Dakota, Texas, Virginia, Wisconsin

Remote Worker Requirements

For remote position, employee is required to meet remote worker requirements, including a designated work station, a wired (Ethernet) connection to the network, and a minimum of 10Mbps downstream connection with at least 1Mbps upstream (can be checked at https://speedtest.net)

Benefits

• 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)