Actuary

• Support the identification, assessment, and management of model risk across the organization
• Ensure that models and assumptions used for pricing, reserving, capital, and risk management are appropriately governed, documented, challenged, approved, monitored, and reviewed
• Maintain and administer the company’s model governance and assumption governance frameworks in alignment with regulatory requirements and industry best practices
• Identify, assess, monitor and report on model risk within the company’s enterprise risk management framework
• Perform independent validations of actuarial and financial models
• Lead the annual review of model risk rating classifications
• Collaborate with actuarial, finance, underwriting, and risk teams to embed model risk awareness

Model Risk Actuary

• Research and develop new methods for insurance rating and loss reserving
• Prepare and coordinate analyses of rate and statistical filings for submission to regulatory and insurance agencies
• Serve as project leader for relatively complex projects and studies
• Perform GLM and other statistical techniques to enhance rating algorithms
• Provide filing support, product performance monitoring, and business insights
• Update and maintain loss cost modeling data sets

Actuarial Analyst IV, Pricing Design

• Lead quarterly and annual reserve analyses for multiple P&C lines of business.
• Evaluate reserve adequacy and analyze loss development trends.
• Prepare reserve recommendations and support statutory and management reporting.
• Collaborate with external actuaries on reserve studies, actuarial reviews, and reporting requirements.
• Partner with Claims, Underwriting, and Finance teams to identify emerging trends and assess business impacts.
• Maintain and enhance reserving models, methodologies, and supporting documentation.
• Train and mentor Financial Analysts on actuarial reserving techniques and best practices.
• Support audits, regulatory reviews, and actuarial reporting requirements.
• Identify opportunities for process improvement and automation within the reserving function.

Manager – Actuarial Reserving

• Manages one or more actuarial functions for a product line or Corporate process
• May evaluate new product ideas, and pricing and maintenance of existing products
• May direct the design, pricing, and implementation of insurance products
• Leads the preparation and interpretation of actuarial information for presentation to management
• Monitors profitability by line of business and/or product and develops supporting reports and/or analyses
• Maintains the product line or Corporate process to comply with various state and federal regulations
• Manages studies that underlie actuarial assumptions and provides assumptions and data to others
• May support creation of systems specifications, contracts, commission structures, and other actuarial aspects of product development
• Monitors and analyzes developments in actuarial techniques, laws and regulations applicable to company operations, and competitive developments in the marketplace
• Recommends appropriate reactions to these developments
• Provides guidance and advice regarding pricing rates, modeling methodology, or reserving and related matters
• Serves as a key resource for completion of one or more major recurring projects during the course of the year
• Represents the company on industry and professional committees and/or with regulators
• May supervise a team of employees

Actuary – VA/IFRS Reporting

• Initiates and leads the development of actuarial studies and analyses
• Gives direction to less experienced staff
• Applies actuarial techniques and statistical analysis to several functions
• Review the appropriateness of the results in light of experience and industry knowledge
• Initiate and lead the development of studies, analyses, and presentation materials

• Responsible for the overall management and technical oversight of an actuarial staff
• Involved in hiring and termination decisions, coaching and development, rewards and recognition, performance management and staff productivity
• Oversee the preparation of rate filings for large group, small group, direct pay, or senior products
• Work with Underwriting and Rating, Sales and Product Management and Development to develop and implement appropriate rating strategies
• Provide advanced support for the claim reserve process
• Ensure that all new products are financially viable and stable

Director, Actuarial Services

• Provide actuarial leadership and oversight for DCS pricing activities, including rate reviews, underwriting, and annual pricing submissions.
• Establish and maintain actuarial standards, pricing frameworks, and governance processes.
• Review, approve, and recommend rate actions, pricing assumptions, and risk positions.
• Own actuarial evaluation of margin performance and profitability drivers.
• Ensure pricing strategies and rate execution are aligned with target margins and durable growth goals.
• Identify emerging risks and develop mitigation strategies in partnership with Business Leads, Finance and Underwriting.
• Assess and manage the financial and pricing implications of federal and state regulatory changes impacting Commercial Pharmacy and Mental Health Parity.
• Oversee intercompany pharmacy pricing discussions and work with both Caremark and Aetna IBU teams to ensure pharmacy value is effectively deployed for Fully Insured, AFA and integrated ASC business.
• Lead and mentor a multi-disciplinary team, fostering organizational agility and development.

AVP, Commercial Specialty Actuarial & Underwriting

• Define & diagnose a problem
• Outline data requirements for a study or analysis and devise potential solutions.
• Create studies, analyses, and presentation materials needed to appropriately inform decision makers.
• Make appropriate recommendations to management across teams within the actuarial department.

Actuary jobs in Maryland

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