Sr Actuary (Health Solutions) Job at Hannover Life Reassurance Company Of America
Hannover Life Reassurance Company Of America United States
Job Summary:
This position is responsible for supporting pricing and underwriting for excess medical (medical stop loss) and maintenance of the New York office group life, accident, and ancillary products. Responsibilities include facultative reviews of program business, MGU audits and assistance with program management.
Essential Functions:
Estimated Percentage of Time Dedicated to Responsibilities:
Pricing
- Responsible for pricing, underwriting, quoting and business analysis for the Medical Stop Loss market category as well as assisting in the other products to assess new business and renewal risks.
- Responsible for pricing and underwriting individual stop loss for Accountable Care Organizations
- Responsible for updating pricing templates
- Participates in development of underwriting and pricing assumptions allowing the company to compete on a profitable basis in a highly competitive market.
- Produces write-ups with summary, pricing and projections for each quote.
- Communicates proactively with brokers and clients to gain clarity on program.
50%
In-Force Program Management
- Responsible for reviewing and monitoring financial results for the Health Solutions department by treaty to measure profitability and determine renewal action including setting reserves to order to project incurred loss ratios by treaty.
- Reviews facultative cases to assess client compliance with underwriting guidelines in order to ensure profitable underwriting.
- Conducts underwriting audits on Medical Stop Loss programs to assess controls and areas for improvement. Collaborates with team to implement process changes/efficiencies.
25%
Marketing
- Travel to Client and Business Partner facilities to host and/or discuss renewal and program update meetings
- Travel to Business Conferences to represent Hannover and meet with current clients and business partners as well as prospect for future business ventures
- Maintain availability to discuss timely questions or concerns about case level or overall relationship topics with clients and brokers.
5%
Documentation and Compliance
- Adheres to Global and Specific Underwriting Guidelines to confirm compliance.
- Obtains necessary internal approvals on quotes to ensure accuracy and compliance.
- Maintains electronic filings in Marketing Library to support documentation.
- Relays information on recently accepted Health Solutions quotes to the accounting, administrative, and corporate actuarial areas to maintain open
lines of communications.
10%
Reporting
- Produces ad-hoc reports as requested by team
- Develops tools to assist in analysis of business and profitability including development of databases in order to analyse large claim experience at various retention levels
10%
Competencies:
- Manages complexity
- Collaborates
- Resourcefulness
- Communicates effectively
- Ensures accountability
Essential knowledge skills and abilities:
- Bachelor’s Degree in Actuarial Science or related field
- Minimum of 5 years of actuarial experience in accident & health including stop loss products required with emphasis on medical products.
- ASA credential from the Society of Actuaries
- High level of technical aptitude in Medical Stop Loss underwriting
- Experience working with complicated spreadsheet applications
- Ability to read, analyse, manipulate, and interpret complex, technical documents and data
- Experience working with complicated spreadsheet applications
- Strong organizational and time management skills; ability to manage multiple and changing priorities
- Excellent verbal, written and interpersonal communication and presentation skills
- Self-motivated; Ability to work independently as well as with a team
- Intermediate skill level in Microsoft PC software: Excel, Word, Outlook, PowerPoint
Desired knowledge skills and abilities:
- FSA credential from the Society of Actuaries
- Ability to analyse large amounts of information in an organized manner, identify issues or inconsistencies, fill in any information gaps and draw accurate sound conclusions.
- Business-oriented; provides well-rounded perspective and insights.
- Ability to work productively on an independent basis, but also within specific parameters and guidelines
- Ancillary product experience
Travel:
5% - domestic travel for audits, client meetings, conferences, etc.
Nothing in this job description restricts management’s rights to assign or reassign duties or responsibilities to this job at any time.
Total Compensation Range: $133,700 - $180,900 (inclusive of Base and Bonus).
Benefits Include:
- Comprehensive medical, dental, and vision
- Paid Time Off (PTO)
- Company provided life insurance and disability benefits
- 401(k) and profit sharing
- Additional ancillary benefits available
Hannover Life Reassurance Company of America (Hannover Re) seeks to attract the best-qualified candidates who support the mission, vision and values of the company and those who respect and promote excellence through diversity. We are committed to providing equal employment opportunities (EEO) to all employees and applicants without regard to race, color, creed, religion, sex, age, national origin, citizenship, sexual orientation, gender identity and expression, physical or mental disability, marital, familial or parental status, genetic information, military status, veteran status or any other legally protected classification. The company complies with all applicable state and local laws governing nondiscrimination in employment and prohibits unlawful harassment based on any of the aforementioned protected classes at every location in which the company operates. This applies to all terms, conditions and privileges of employment including but not limited to: hiring, assessments, probation, placement, benefits, promotion, demotion, termination, layoff, recall, transfer, leave of absence, compensation, training and development, social and recreational programs, educational assistance and retirement.
We are committed to making our application process and workplace accessible for individuals with disabilities. Upon request, Hannover Re will reasonably accommodate applicants so they can participate in the application process unless doing so would create an undue hardship to Hannover Re, or a threat to these individuals, others in the workplace or the company as a whole. To request an accommodation, please email HRLUS-personnel@hannover-re.com. Please allow for 24 hours to process your request.
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