Actuarial Analyst II - Remote (Select States)

As an Actuarial Analyst II at Sentara Health, your main responsibilities include creating models to predict diseases among members, calculating IBNR, and generating forecasts for risk-adjusted revenues. You will also assist in the evaluation of various insurance programs and provide critical actuarial input to corporate management, ensuring the financial health of our products.

To qualify for the Actuarial Analyst II role at Sentara Health, you should have a Bachelor’s degree and at least two years of experience in actuarial analysis. Additionally, candidates should have completed a minimum of three Actuarial exams, showcasing continual progress toward obtaining Society of Actuaries credentials.

While prior experience in risk adjustment is advantageous, it is not strictly required for the Actuarial Analyst II position at Sentara Health. However, familiarity with areas such as IBNR calculations and pricing support for various products will enhance your application and prepare you for the responsibilities of the role.

Sentara Health offers a robust benefits package, including health, wellness, and retirement options, designed to support employees in maintaining a balanced work-life experience. Additionally, opportunities for training and development are provided to enhance your career growth within the organization.

Candidates can apply for the Actuarial Analyst II position at Sentara Health from various states including Virginia, North Carolina, Alabama, Delaware, Florida, Georgia, and more, making it a great opportunity for individuals looking for remote work flexibility.

When calculating IBNR, I would first ensure that all claims data has been accurately compiled. I would then utilize statistical methods to estimate the amount of claims that have occurred but not yet been reported. This involves using historical claims data, understanding trends, and applying methodologies such as the Chain-Ladder or Bornhuetter-Ferguson methods to derive an accurate estimate.

Creating predictive models involves a thorough understanding of historical data to identify trends and correlations. I would begin by cleaning and organizing the data, then selecting appropriate statistical techniques such as logistic regression or machine learning algorithms to build the model. Continuous validation and adjustments would ensure accuracy as new data emerges.

In my previous roles, I have been actively involved in evaluating and supporting Medicare Advantage Bid filings. I have collaborated with healthcare teams to ensure that all necessary financial data is accurate and aligned with regulatory requirements, contributing to successful bid submissions that optimize revenue potential.

One challenging problem I encountered involved reconciling discrepancies in claims data. To tackle this, I initiated a comprehensive audit of our data sources and collaborated with cross-functional teams to identify and rectify the inconsistencies. This resulted in improved data integrity and reinforced my analytical and teamwork skills.

To ensure accuracy in my actuarial reports, I adopt a rigorous review process that includes cross-checking data sources, validating assumptions, and using peer reviews. This multi-tiered approach helps identify potential errors before finalizing reports for management and ensures reliability.

I am proficient in various actuarial and data analysis tools such as Excel, R, SAS, and SQL. These tools enable me to conduct in-depth analyses, model development, and provide vital insights into financial performance and risk assessment.

I stay current with actuarial practices by participating in professional development programs, attending industry seminars, and regularly reviewing relevant literature and regulatory updates. This proactively enhances my knowledge and keeps me informed about changes that could impact my work.

In my last position, I noticed that our data reconciliation process was time-consuming and prone to errors. I spearheaded the initiative to automate parts of the process using software tools, which significantly reduced manual workload and enhanced accuracy and efficiency.

When working under tight deadlines, I prioritize tasks by breaking them down into manageable components. I set clear timelines for each aspect, maintain constant communication with my team, and use time management tools to monitor progress, ensuring that we meet our objectives without compromising quality.

I am deeply motivated by the impact my work has on improving healthcare outcomes for our community. Knowing that my analyses and insights contribute to better financial decision-making and resource allocation fuels my passion and drives me to excel in my role at Sentara Health.