Job Details


Requisition Number 20-0021
Post Date 2/26/2020
Title Manager, Actuarial Services
Organization Concordia Plan Services
Job Grade 9
City St. Louis
State MO
FT/PT Full Time
Description

Organization Profile

  • Concordia Plan Services ‘walks together’ with LCMS ministries by providing quality benefits and services that support the physical and financial health of members and their families.

 

Reporting Relationships

  • Manager, Actuarial Services reports to Assistant Vice President Health & Welfare and Chief Actuary.

 

Essential Job Functions

  • Product Pricing:
    • Independently completes the analyses and produces recommendations on the annual pricing for the Concordia Health Plan (CHP) and the Concordia Disability and Survivors Plan (CDSP), taking into account the appropriate balance between the need to ensure the Plans remain financially strong and the need to minimize the contribution rates because of the impact on LCMS ministries’ budgets.
    • Prepares alternative pricing quotes for large and mid-sized employers that differ from the standard pricing method.
    • Determines the impact on the contribution rates of potential changes in the benefit designs of the CHP and CDSP.
    • Oversees financial modeling to project the funding status of the CHP and CDSP.
    • Works closely with the appropriate CPS staff to investigate possible changes in the design of the Plans.
  • Reserve Calculations:
    • Administers the quarterly determination of the incurred but unreported claims reserve (IBNR) for the CHP.
    • Conducts the quarterly determination of the CDSP reserves including: the IBNR, the disabled life reserves (DLR), the waiver of CHP contribution rates for disabled CHP members, the reserves for beneficiaries under the survivors’ income plan and the reserve for payment of Medicare Part B premiums for disabled members.
    • Directs the annual projections of contributions, benefits and plan expenses for the CHP, the CDSP.
    • Analyzes the actuarial gains and losses under the CDSP.
    • Cooperates with external auditors during the review of the year-end reserves for the Plans’ audited statements.
  • Monitoring, Analyzing and Reporting Actual vs. Expected Results:
    • Analyzes the actual experience under the CHP and CDSP to compare the emerging experience to the assumptions used in the pricing and reserving for the two Plans.
    • Develop reports and data to be used in strategic assessment.
    • Works with other members of the Health & Welfare team to analyze the actual vs. expected experience.
  • Responsibility for product/service financial evaluation:
    • Assists management in the design and evaluation of all current and new product development.
    • Forecasts financial projections for all product/service lines for management oversight.
    • Analyzes and determines product/service lines financial requirements.
  • Managing:
    • Responsible for overall management / accountability for financial, product and actuarial analysts.
    • Establishes goals and performance standards.
    • Creates developmental plans and opportunities.
  • Prepares reports Plan Design and Management (PDM) committee of the CPS Board:
    • Produces rationale and resolution documents to obtain the approval of the CPS Board for the annual recommendations of contribution rates for the CHP and CDSP.
  • Other Duties:
    • Provides support for the Assistant Vice President Health & Welfare and Chief Actuary and the Health and Welfare / Marketing / Growth departments, especially related to quantitative analyses.
    • Performs other duties as assigned to the position by the Assistant Vice President Health & Welfare and Chief Actuary.
Requirements

Education and Experience

  • BA/BS in mathematics, actuarial science, statistics or a business-related discipline.
  • Minimum three years of analyst experience in an insurance, employee benefit department or employee benefit consulting environment.
  • Experience managing employees, preferred.
  • Demonstrated project management skills.

 

Competencies (Knowledge, Skills and Abilities)

  • Advanced knowledge of Microsoft Excel and Access, required.
  • Experience with an enterprise resource planning (ERP) system (e.g. Lawson, SAP, Oracle), strongly preferred.
  • Proficient knowledge of mathematics, including calculus, probability and statistics.
  • Thorough understanding of actuarial standards, principles and techniques.
  • Thorough understanding of health plans, life / disability income plans and retirement plans.
  • Strong programming and database skills.
  • Skillful ability to analyze and interpret statistical data.
  • Demonstrates organizational astuteness and saavy.
  • Strong written and verbal communication skills, including ability to explain actuarial concepts in understandable terms to non-actuaries.
  • Effective interpersonal skills and relationship-building skills, with ability to build strong inter-departmental relationships.
  • Strong analytical and problem-solving abilities with attention to detail.
  • Self-motivated with ability to execute tasks in a high-pressure environment.
  • Demonstrated ability to effectively prioritize and assign work to others.
  • Understanding of the Lutheran Church-Missouri Synod’s structure is desired.
  • Demonstrates a high commitment to concepts and principles of Integrity Service program or similar values-based customer service program.
  • Desire to work in a dynamic, mission-driven environment.

 

Supervisory Responsibility

  • Manager, Actuarial Services will supervise the Actuarial Assistant.
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