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Vice President, Chief Actuary

Lumeris

Lumeris

Accounting & Finance
United States · Remote
Posted on Tuesday, June 18, 2024

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Position:

Vice President, Chief Actuary

Position Summary:

Provides oversight, strategic direction, process improvements, and best practices for the department. Responsible for all actuarial and underwriting/pricing functions in support of all lines of Lumeris' business entities. Delivers forward-thinking strategies and provides business direction regarding actuarial rate setting, premium development, valuation and reserve setting, risk management, and product development

Job Description:

Primary Responsibilities

  • Develops, implements, and guides strategic direction for the department/function(s). Oversees, coaches, mentors, motivates, supports, and develops a cross-functional team of seasoned people leaders with a broad scope. Oversees goal setting/review, regular guidance and 1-1 check ins, career development/planning, upskilling, resource allocation, staffing, budget creation/management, succession planning, DE&I initiatives, and other People & Culture programs/activities as needed. Fosters accountability, collaboration, and innovation to ensure organizational goals are met.
  • Oversees and supports cross-functional alignment to ensure the best possible business intelligence and understanding of company financials in communications to executive team.
  • Performs as a thought leader in creating and enhancing deal and product pricing capabilities across the organization. Provides consultative costing/pricing support across all business units to deliver profitable growth through effective costing/pricing strategies.
  • Responsible for actuarial valuation for financial reporting functions. Oversees pricing and valuation for all Lumeris products and services. Enhances risk management and pricing policies/procedures.
  • Directs the development and implementation of underwriting/pricing policies and guidelines, sales pricing models/tools, and sales training for all direct and indirect sales channels. Ensures compliance across all activities.
  • Informs and participates in pricing strategy discussions with executive team. Develops and implements new pricing strategies and methods to adapt to market dynamics.
  • Ensures all actuarial financial statement items are established in accordance with relevant actuarial, regulatory, and accounting guidance.
  • Oversees the creation of and adherence to all key processes, procedures, analyses, and techniques. Guides department adoption of best practices to minimize inaccuracies and ensure compliance with legal, regulatory, and business requirements.
  • Creates continuous improvement initiatives by monitoring industry trends and developing best-in-class tools and techniques that ensure application of innovative actuarial methodology and adoption of actuarial best practices.
  • Forges strong, productive, collaborative, cross-departmental relationships and serves as liaison. Consults, influences, shares data review/results, and positively impacts the adoption of strategic, statistically-sound business opportunities.
  • Provides strategic direction for the Company actuarial program, establishing consistent study time and other exam-related guidelines.
  • Provides pricing analysis, reports, and dashboards to track the performance of various programs.

Qualifications

  • Bachelor’s degree or equivalent
  • Society of Actuaries (FSA) and a Member of the American Academy of Actuaries (MAAA)
  • 15+ years of health actuarial experience or the knowledge, skills, and abilities to succeed in the role
  • Significant executive leadership
  • Expert understanding of Strategy, Risk Management, Pricing, Valuation, and advanced customer analytics
  • Excellent financial knowledge and deep understanding of the economics, actuarial, and accounting aspects of the health care industry
  • Proven ability to develop, support, coach, mentor, and empower a cross-functional team
  • Highly skilled at developing pricing strategies and plans for new products and innovative services
  • Proven ability to work collaboratively across functional teams and different organizational levels to deliver results
  • Demonstrated ability to partner with sales teams to deliver actuarial and underwriting/pricing analyses, recommendations, and support the business development negotiation process
  • Strong communication and negotiation skills
  • Ability to effectively organize and prioritize dynamic workflow
  • Ability to work with integrity, ethically and continuously uphold organizational values
  • Excellent written and verbal communication skills with the ability to influence at all levels

Working Conditions

  • While performing the duties of this job, the employee works in normal office working conditions.

Disclaimer

  • The job description describes the general nature and level of work being performed by people assigned to this job and is not intended to be an exhaustive list of all responsibilities, duties and skills required. The physical activities, demands and working conditions represent those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential job duties and responsibilities.

#LI-Remote

Lumeris is an EEO/AA employer M/F/V/D.

The hiring range for this position is:

$203,000.00-$295,250.00


Factors that may be used to determine your actual pay rate include your specific skills, experience, qualifications, location, and comparison to other employees already in this role. This role may also be eligible for incentive compensation. At Lumeris, we are committed to providing a total rewards package that supports your overall well-being. Our benefits include medical, vision, dental, well-being programs, 401(k) with company matching, life insurance, paid time off including paid leave, and so much more. Learn more by visiting our Careers Page.

Member Facing Position:

No- Not Member or Patient Facing Position

Location:

Remote, USA

Time Type:

Full time

Lumeris and its partners are committed to protecting our high-risk members & prospects when conducting business in-person. All personnel who interact with at-risk members or prospects are required to have completed, at a minimum, the initial series of an approved COVID-19 vaccine. If this role has been identified as member-facing, proof of vaccination will be required as a condition of employment.