Job Title : Health Care Actuary
Reports To: Executive Director
Department: Analytics and Research
Division: Executive Services
FLSA Status: Exempt
Number of Positions: 1
Posting Date Valid: 5/24/13 - until filled
Summary: Under the direction of the Manager of Actuarial Analysis, performs day-to-day actuarial responsibilities for OPERS’ retiree health care plan and coordinates work with the external actuarial consultant.
Essential Duties and Responsibilities of the position include the following. Other duties may be assigned.
1. Coordinates annual preparation of claims data for independent actuarial rate-setting process (i.e., annual premium determination) for retiree health care plan.
2. Works with the external actuarial consultant for completion, review, and presentation of results for annual rate-setting process and other related analyses.
3. Assists with forecasting expected financial impact of changes in health care coverage, premium rates, member demographics, projected health care cost inflation, or other actuarial assumptions.
4. Assists with forecasting expected financial impact of future medical, demographic, or economic experience deviating from actuarial assumptions.
5. Works in conjunction with Health Care division to ensure internal controls over claims data are adequately designed and operating effectively.
6. Responds to technical questions regarding data, trends or results and prepares supporting analyses.
7. Works in conjunction with Financial Accounting to prepare assigned schedules and disclosures of actuarial information for the Comprehensive Annual Financial Report.
8. Proposes plan design changes to retiree health care plan as requested.
9. Reviews proposed legislation for actuarial/funding impact.
10. Develops complex actuarial models. Analyzes and validates results of models.
11. Participates as requested in pricing negotiations with external health care vendors.
12. Delivers presentations and provides recommendations to the OPERS Board and senior staff regarding actuarial matters as assigned.
13. Maintains a customer service-oriented work approach towards internal and external customers.
Competencies: To perform the job successfully, an individual needs to demonstrate the following competencies:
• Job Knowledge/Professional Skills: Possesses and applies current job knowledge and technical skills to perform specific duties within defined job responsibilities.
• Customer Service: Demonstrates commitment to OPERS Vision (“…delivering responsive high quality service every time, all the time”) through exhibiting an attitude of excellent service, ability to identify customer needs, use of thoughtful communication and willingness to resolve conflict. Attentive to the needs of both internal and external customers and OPERS Internal Customer Service Standards (ICSS).
• Management Skills: Manages workload and resources by planning, organizing and delegating to meet deadlines and accomplishes objectives while maintaining department quality standards.
• Adaptability: Ability to embrace change as a necessary and desirable opportunity. Flexible in dealing with different viewpoints and people with diverse backgrounds.
• Problem Solving/Decision Making: Solves problems and makes business decisions to carry out job duties. Weighs alternatives and determines course of action.
• Communication: Ability to express thoughts and ideas to others, both orally and in writing. Demonstrates commitment to OPERS Internal Customer Service Standards (ICSS).
• Dependability: Demonstrates reliability and instills confidence in the ability to carry out job duties.
• Teamwork/Interpersonal Skills: Builds and maintains working relationships with OPERS employees and customers. Cooperates with OPERS employees to achieve common goals while demonstrating core values.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Bachelor’s degree required; Master’s Degree in actuarial science, mathematics, finance, or business administration preferred. Minimum of six years of experience required as an actuary in a consulting or health care-related organization. Experience with retiree health care systems required. Experience with public sector retiree health care systems preferred.
Certificates and Licenses:
Fellow of the Society of Actuaries (FSA) designation required.
Excellent oral and written communication skills.
Ability to read and interpret documents such as statutes, rules, plan documents, financial and legal documents, policy and procedure manuals, GASB pronouncements, etc. Ability to write reports, policies and procedures, and prepare effective presentations. Ability to respond to common inquiries or complaints from customers, regulatory agencies, or members of the business community.
Strong background in mathematics and statistics required. Superior analytical, statistical sampling and modeling skills.
Ability to think and plan strategically; a wide degree of creativity and latitude is expected.
Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables. High degree of accuracy in performing detailed assignments.
To perform this job successfully, an individual should be PC proficient, basic knowledge of MS Windows operating system; intermediate to advanced MS Word; MS Excel; Internet Explorer (browser software) and MS Outlook (internal email systems); Strong keyboarding skills. Experience with actuarial valuation software (for pension or retiree health care) a plus.
The noise level in the work environment is usually moderate.
While fulfilling the responsibilities of this position, the employee is regularly required to sit; use hands to finger, handle, or feel; reach with hands and arms; talk or hear.