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Senior Health Actuary

Position Overview

The Sr. Health Actuary, manages the actuarial monitoring and reporting side of large key health accounts, using and implementing standard tools and KPI as well as provide sound actuarial support and advise to such large clients in terms of product design and pricing, group underwriting and profitability analysis.

The aforementioned activities in coordination with the regional Head of Health, Lead Health Actuary and underwriting and claims staff.

Coordinate directly with his (her) counterparts within those large clients to facilitate data interchange and reporting processes.

Lead and implement close follow up and reports to top management over the large accounts, providing internal and external insights for the decision making of different initiatives.

Responsibilities

  • Challenge conventional practice to drive new insights from Large Accounts information.
  • Lead key strategic initiatives around Large Accounts deal and participate in strategy development.
  • Identify and lead projects to improve Large Accounts experience, using data driven techniques
  • Develop and drive best practices including but not limiting to Underwriting, Product Development for providing management insights. Communicate the analyses and insights to the client and senior management.
  • Assist in the creation and maintenance of a monitoring model that can project and allow the actuary to take a decision in case new terms and/or conditions needs to be sent to the client.
  • Set on an annual basis the Base Loss Ratios and the Base Reinsurance Rates that meet the client need as well as the standards of the company for different reinsurance structures.
  • Review give advice and approve all group referral quotes within agreed turnaround time.
  • Maintain up to date database of all bespoke pricing requests.
  • Review Large Accounts proposed new products or changes to existing products, as well as propose them possible changes that result in profitability for the parties.
  • Create projection models for analyzing Large Accounts insurance under the new terms and conditions.
  • Deep-dive analysis of Large Accounts experience, draft reports for sharing with the client (Large Accounts) - comprehensive experience analysis of Large Accounts for key markets including recommendations on potential changes to improve performance.
  • Review quarterly internal and external statements, contribute with the financial projections and the analysis of the structures applied under the statements, liaise with Financial department and client to agree statements within proper turnarounds as per the treaty conditions.
  • Support on client management and relationship of Large Accounts presenting pricing, monitoring and KPI directly to the clients
  • Uses critical thinking to analyze results for reasonableness and accuracy.
  • Assures quality documentation of all projects, work products, and procedures.
  • Support in keeping internal risk management requirements and reports on Large Accounts



Requirements

Education and Experience

Required:

  • Bachelor's degree in Math, Economics, Actuarial Science, Statistics.
  • 10+ years of experience in Health Insurance / Reinsurance sector.
  • 10+ years of experience in a business environment working with data analysis or statistical modeling.
  • Proven experience of leadership on multi-task projects.


Preferred:

  • Progress toward SoA Actuarial Exams and/or CONAC Certifications.
  • Experience with actuarial pricing software.
  • Experience with SAS, VBA or SQL programming.
  • Health Products Experience (direct or reinsurance)
  • Experience in a business environment analyzing data and providing actionable insights


Skills and Abilities

Required:

  • Advanced Microsoft Outlook Word, Excel, and Power Point skills as well as SQL / Query skills
  • Advanced data analysis skills.
  • Advanced math skills
  • Advanced investigative, analytical and problem-solving skills utilizing experience, research, guidelines and internal resources.
  • Must be flexible and adaptive to change
  • Ability to set goals, multitask and prioritize workload
  • Ability to share and impart knowledge
  • Advanced oral and written communication skills
  • Identifies the information needs of stakeholders, explains the position of the unit or the organization to them and provides appropriate advice.
  • Development of a new result by combining known information and techniques.
  • Complex analytical and problem-solving skills
  • Ability to balance detail with departmental goals/objectives
  • Working knowledge of actuarial and finance concepts
  • Working knowledge of insurance, accounting and reinsurance concepts
  • Ability to work independently
  • Ability to work well within a team environment and participate in department projects
  • Ability to foster customer service as needed
  • Ability to read and interpret treaty language and to apply it appropriately to data requirements
  • Familiarity with statistical analysis tools (R and/or SAS)
  • Competent understanding of key insurance-related concepts, including health products, reinsurance contracts, and basic GAAP, Statutory, and tax accounting principles.
  • Knowledge of health insurance products and specific reinsurance data requirements
  • Ability to liaise with individuals across a variety of operational, functional, and technical disciplines
  • Ability to appropriately balance priorities, deadlines, and deliverables



Company Overview

Reinsurance Group of America, Incorporated (NYSE: RGA) is one of the largest global providers of life reinsurance, with offices around the world. RGA delivers expert solutions in individual life reinsurance, individual living benefits reinsurance, group reinsurance, financial solutions, facultative underwriting, and product development. Our mission is to enhance our clients' prosperity by supporting their financial and risk management capabilities.

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Senior Health Actuary

Mexiko-Stadt, Mexico
Full time

Published on 05/04/2022

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