Chief Health Actuary
Jobs2web
full-time
Posted on:
Location Type: Office
Location: Chicago • Illinois • United States
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Salary
💰 $9,402 - $13,995 per month
Job Level
About the role
- Determines compliance of health insurance firms with the Illinois Insurance Code, the Patient Protection and Affordable Care Act, and professional standards of practice.
- Serves as working supervisor of professional actuarial staff.
- Serves as an expert on health actuarial issues.
- Reviews, researches, and evaluates health actuarial phases of proposed legislation and determines necessity for changes.
- Directs the review of loss ratio filings for Medicare supplement and long term care insurance, Medicare supplement refund calculations and risk based capital calculations.
- Reviews, researches, and evaluates reserve methodology for new or unusual health products for which there is little or no statutory reserve guidance.
- Performs other duties as required or assigned which are reasonably within the scope of the duties enumerated above.
Requirements
- Requires knowledge, skill and mental development equivalent to completion of four years of college, with evidence of courses in higher mathematics, such as calculus, probability and statistics.
- Requires five years of professional experience in actuarial work in the life, accident and health or casualty and property insurance field.
- Prefers attainment of Associate of the Society of Actuaries (ASA) designation or attainment of Fellow of the Society of Actuaries (FSA) designation.
- Prefers membership in the American Academy of Actuaries (MAAA).
- Prefers five (5) years professional experience in actuarial work in the health field.
- Prefers three (3) years of experience working with insurance principles, insurance company practices and state laws regulations governing operations.
- Prefers three (3) years of experience working with higher mathematics, particularly as related to actuarial computations and accounting principles and practices in the field of health insurance.
- Prefers three (3) years of experience working with complex actuarial research and statistical computations, and projects to furnish administrators with current and timely information.
- Prefers one (1) year of experience working with other state agencies, legislative officials, insurance company officials and the general public and to represent the agency in conferences and speaking appearances.
- Prefers at least one (1) year of experience supervising and directing the work of others.
Benefits
- Health, Life, Vision, and Dental Insurance
- 13 Paid Holidays annually, 14 on even numbered years
- 10-25 days of Paid Vacation time annually - (10 days in year one of employment)
- 12 Paid Sick Days annually (sick days carry over from year to year)
- 12 Weeks Paid Maternity/Paternity Leave
- 3 Paid Personal Days annually
- Pension Plan
- Deferred Compensation Program and other pre-tax benefit programs (Medical/Daycare)
- Flexible work schedules may be available, dependent upon position
- Tuition Reimbursement Program and Federal Public Service Loan Forgiveness Program eligibility
Applicant Tracking System Keywords
Tip: use these terms in your resume and cover letter to boost ATS matches.
Hard skills
actuarial workhigher mathematicscalculusprobabilitystatisticsreserve methodologyloss ratio calculationsrisk based capital calculationsactuarial researchstatistical computations
Soft skills
supervisionleadershipcommunicationresearchevaluationproblem-solvingcollaborationpresentation
Certifications
Associate of the Society of Actuaries (ASA)Fellow of the Society of Actuaries (FSA)membership in the American Academy of Actuaries (MAAA)