Actuary - Commercial Large Group Rate Review - Hartford, United States - CVSHealth

Description

Bring your heart to CVS Health. Every one of us at CVS Health shares a single, clear purpose: Bringing our heart to every moment of your health. This purpose guides our commitment to deliver enhanced human-centric health care for a rapidly changing world. Anchored in our brand - with heart at its center - our purpose sends a personal message that how we deliver our services is just as important as what we deliver.

Our Heart At Work BehaviorsTM support this purpose. We want everyone who works at CVS Health to feel empowered by the role they play in transforming our culture and accelerating our ability to innovate and deliver solutions to make health care more personal, convenient and affordable.

Position Summary

This is a dual role that serves as a key member of the functional Actuarial team in charge of the Commercial Large Group Rate Review while also supporting the Central Region.

Serve as a leading member of the functional team in charge of the annual Commercial Large Group Rate Review

• Participate as a critical team member to help coordinate the Large Group Rate Review process for the entire country
• Coordinate with the Rating Methodology team on studies/updates
• Prepare supporting documentation needed for the Large Group Rate Review to assist market actuaries throughout the rate review period
• Run Rate Review Models for determining best estimate pricing recommendations
• Aggregate results into an Executive Summary and prepare powerpoint and other materials for review and approval meetings
• Meet with the market to discuss technical results including but not limited to rate actions, trend and PCRs, and area factors
• Provide valuable feedback on the Rate Review process to help develop and implement best practices for future cycles

Support the Central Region as a subject matter expert for South Central (TX, OK, NM) markets

• Collaborate with the Plan President, Sales, Finance, Underwriting, Network, Contracting, and Product to develop market specific growth strategies while maintaining enterprise alignment
• Proactively monitor financial performance and provide observations/insights into deep dives
• Participate in the Implementation and Forecasting/Budget discussions
• Oversee the Large Group Rate Filings/DOI objections when applicable
• Takes accountability to ensure market specific requests and deliverables are met in a timely and responsive manner
• Work closely with other regional and functional counterpart on the broader team
• Cultivate continuous improvement to drive accuracy and innovation

Keys to success:

• Demonstrate understanding of complex actuarial functions as well as the market specific dynamics including the competitive landscape
• Build and facilitate creation of initiatives to drive down cost structure
• Take full ownership of complex assignments and act as the trusted lead for the market
• Communicate actuarial findings to business partners
• Anticipate the market's needs and be able to influence and further recommend course of action as you see fit
• Demonstrate leadership that fosters and supports a strong team of individual contributors
• Support actuarial and underwriting functions by applying quantitative skills and analytical methods

Required Qualifications

• Bachelor's degree along with 3+ years of experience
• ASA (Associate of the Society of Actuaries) designation
• Strong technical, analytical, and financial skills
• Excellent verbal and written communication skills

Preferred Qualifications

• FSA (Fellow of the Society of Actuaries) or actively working towards FSA designation
• Ability to thrive in a constantly evolving environment with competing priorities and deadlines
• Collaborate with key stakeholders to formulate recommendations and course of actions

Education

Bachelor's degree or equivalent experience

Pay Range

The typical pay range for this role is:

$63, $139,200.00

This pay range represents the base hourly rate or base annual full-time salary for all positions in the job grade within which this position falls. The actual base salary offer will depend on a variety of factors including experience, education, geography and other relevant factors. This position is eligible for a CVS Health bonus, commission or short-term incentive program in addition to the base pay range listed above.

In addition to your compensation, enjoy the rewards of an organization that puts our heart into caring for our colleagues and our communities. The Company offers a full range of medical, dental, and vision benefits. Eligible employees may enroll in the Company's 401(k) retirement savings plan, and an Employee Stock Purchase Plan is also available for eligible employees. The Company provides a fully-paid term life insurance plan to eligible employees, and short-term and long term disability benefits. CVS Health also offers numerous well-being programs, education assistance, free development courses, a CVS store discount, and discount programs with participating partners. As for time off, Company employees enjoy Paid Time Off ("PTO") or vacation pay, as well as paid holidays throughout the calendar year. Number of paid holidays, sick time and other time off are provided consistent with relevant state law and Company policies.

For more detailed information on available benefits, please visit

We anticipate the application window for this opening will close on: 04/30/2024

CVS Health requires certain colleagues to be fully vaccinated against COVID-19 (including any booster shots if required), where allowable under the law, unless they are approved for a reasonable accommodation based on disability, medical condition, religious belief, or other legally recognized reasons that prevents them from being vaccinated.

You are required to have received at least one COVID-19 shot prior to your first day of employment and to provide proof of your vaccination status or apply for a reasonable accommodation within the first 10 days of your employment. Please note that in some states and roles, you may be required to provide proof of full vaccination or an approved reasonable accommodation before you can begin to actively work.

CVS Health is committed to recruiting, hiring, developing, advancing, and retaining individuals with disabilities. As such, we strive to provide equal access to the benefits and privileges of employment, including the provision of a reasonable accommodation to perform essential job functions. CVS Health can provide a request for a reasonable accommodation, including a qualified interpreter, written information in other formats, translation or other services through If you have a speech or hearing disability, please call 7-1-1 to utilize Telecommunications Relay Services (TRS). We will make every effort to respond to your request within 48 business hours and do everything we can to work towards a solution.