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Actuary I

Job Category:  Accounting/Finance
Department:  Actuarial Services
Location: 

Los Angeles, CA, US, 90017

Position Type:  Full Time
Requisition ID:  8778

Salary Range:  $102,183.00 (Min.) - $132,838.00 (Mid.) - $163,492.00 (Max.)

 

Established in 1997, L.A. Care Health Plan is an independent public agency created by the state of California to provide health coverage to low-income Los Angeles County residents. We are the nation’s largest publicly operated health plan. Serving more than 2 million members in five health plans, we make sure our members get the right care at the right place at the right time.

Mission: L.A. Care’s mission is to provide access to quality health care for Los Angeles County's vulnerable and low-income communities and residents and to support the safety net required to achieve that purpose.

As a condition of employment, L.A. Care requires a COVID-19 vaccine. This requirement includes our remote workforce. If you would like to request an exemption, L.A. Care has implemented a process to consider exemptions, for documented medical conditions and sincerely held religious beliefs. L.A. Care will review all exemption requests prior to proceeding with the recruitment process.

Job Summary

TheActuary I will report to the Director of Actuarial Services. This position will help make estimates for the monthly Financial Statements including, but not limited to, revenue projections and reserves for Incurred But Not Paid claims. Additionally, this position will assist in providing financial contracting guidelines to the Provider Network Management department. 

 

The  Actuary I will also routinely participate in the data collection and reporting for the Rate Development Template and other Supplemental Data Requests for the Department of Health Care Services. Furthermore, this position will provide ad hoc financial analyses to external departments for new programs and projects. This Position will provide guidance and mentoring to Actuarial Analysts in the Actuarial department. 

Duties

Review premium rates from DHCS and assist in rate negotiations. 

 

Support in monthly financial reporting by setting claims incurred but not paid reserves and other financial estimates. 

 

Certify actuarial estimates for regulators and third parties including DMHC, DHCS, CMS and Covered California. 

 

Analyze data for ad hoc needs including deep data dives and analyses of scenarios for new programs. 

 

Assist Provider Network Management and Legal departments in financial aspects of contract negotiations and amendments. 

 

Project revenue and cost of health care for the routine budgets and forecasts as well as ad hoc analyses. 

 

Collaborate with other departments in work groups for key initiatives and projects. 

 

Present analyses and recommendations to stakeholders, including senior management. 

 

Perform other duties as assigned.

Education Required

Bachelor's Degree in Mathematics or Related Field
In lieu of degree, equivalent education and/or experience may be considered.

Education Preferred

Experience

Required:

At least 5 five to 7 seven years of experience under the supervision of a credentialed (MAAA) Actuary; or, Four years of experience under the supervision of a credentialed (MAAA) Actuary plus successful completion of either one Fellowship Exam or 3 FSA Modules.

Fellowship Exams and FSA modules are administered by the Society of Actuaries.

Skills

Required:
Understanding of financial concepts.

 

Able to create and manage Excel spreadsheets without direction and supervision.

 

Effective oral, written and interpersonal communication skills.

 

The level of analysis and results should be more complex and well above the Actuarial Analyst III position.

Licenses/Certifications Required

Licenses/Certifications Preferred

Required Training

Additional Information

Professional Membership requirements:
Attainment of Associateship in the Society of Actuaries (ASA) and Membership in the American Academy of Actuaries (MAAA).

 

L.A. Care offers a wide range of benefits including

  • Paid Time Off (PTO)
  • Tuition Reimbursement
  • Retirement Plans
  • Medical, Dental and Vision
  • Wellness Program
  • Volunteer Time Off (VTO)

 

At L.A. Care, we value our team members’ safety. In order to keep our work locations safe, each employee is required to self-screen for symptoms prior to entering any L.A. Care location each day. L.A. Care and all of its staff are required to comply with all state and local masking orders. Therefore, when on-site at any L.A. Care location, employees are expected to wear a mask in areas where physical distancing cannot be managed.


Nearest Major Market: Los Angeles

Job Segment: Accounting, Actuarial, Claims, Finance, Insurance

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