Actuary- Commercial Pharmacy

RxBenefits • Newark, NJ • 3h ago

RxBenefits is hiring! We are looking for an Actuary with expertise in the Commercial Pharmacy Market to work directly with the Sr Director, Pricing and Vendor Relationships. This is a highly analytical role, where you will be expected to utilize your knowledge of data, analytics, forecasting, modeling, and reporting to assess programs and identify risk.

Essential Job Responsibilities Include:

Proactively provides resources, information, advice, and expertise with coworkers and stakeholders; influencing others through technical explanations and examples

Completes work assignments by applying up-to-date expertise within the Commercial Pharmacy benefit to generate creative solutions; ensuring all procedures and policies are followed; leveraging an understanding of data, and resources to support projects or initiatives; collaborating cross-functionally to solve business problems; identifying and monitoring priorities, deadlines, and expectations; communicating progress and information; identifying, recommending, and implementing ways to address improvement opportunities; and escalating issues or risks as appropriate.

Supports actuarial documentation by preparing and reviewing for accuracy and reasonability the actuarial portion of financial reports and responses to audits, client/broker inquires and insurance regulations

Participates in product line evaluations by conducting analysis of product line financials, pricing, and valuation analysis; and analyzing product line performance, risk, and assumptions used in product / RFP development.

Stays abreast of actuarial research by examining developments in standards, assumptions, competition, and the legal and regulatory environment.

Assesses, analyzes and interprets financial risks and opportunities by applying actuarial methods; and conducting actuarial analyses.

Supports collaborations with business partners by understanding the business needs; translating actuarial constructs into non-technical recommendations; and complying with the Actuarial Standards of Practice.

Supports actuarial modeling by developing and enhancing actuarial models; assisting with the development of alternative assumptions and forecasts using in-house models or actuarial software; and assisting with validating the data and results.

Education and/or Experience:

5+ years of actuary experience with 3+ years of Commercial Payer / PBM experience required

Bachelor's degree and ASA required

Proficient with data analytics. Ability to apply data visualization for project tasks, such as frequency distributions, pareto charts, analysis of variance, and correlation techniques. (Advanced Excel required, Proficient SQL / SAS preferred)

Mastery of data manipulation software such as Excel, SAS, Python

Excellent communication and relational skills required for interaction with internal and external customers and end users at all levels.

Ability to translate business needs into technical specifications and user models

Strong time management skills, demonstrate ability to manage multiple, parallel assignments with accountability for timely, cost-effective results.

The ability to function and manage projects independently.

Proficient in process mapping, root cause analysis, and quality/process improvement methodologies.

Based on relevant market data and other factors, the anticipated hiring range for this role is $115,200 - $144,000 annually. Final compensation rates will be determined based on various factors, including but not limited to experience, skills, knowledge, and internal equity considerations. This role is also short-term incentive eligible. Incentive amounts will vary by individual and business goals.

We are committed to fair and equitable compensation practices. The final salary offered to the selected candidate may vary from the posted range due to individual qualifications. Our goal is to ensure that all teammates are compensated fairly and competitively based on their contributions to our organization.

RxBenefits is also committed to providing best in class benefits to our teammates. We offer a robust total rewards package that includes:

Remote first work environment

Choice of a HDHP or PPO Medical plan, we pay 100% of the premium for the HDHP for you and your eligible family members

Dental, Vision, Short- and Long-Term Disability, and Group Life Insurance that we also pay 100% of premiums (for your family too on Dental and Vision)

Additional buy-up options for Short- and Long-Term Disability and Life Insurance

401(k) with an employer match up to 3.5% available after 60 days

Community Service Day to give back and support what you love in your community

10 company holidays including MLK Day, Juneteenth, and the day after Thanksgiving plus a floating holiday to use as you like

Reimbursements for high-speed internet, we'll send you a computer and monitors to help you do your best work

Tuition Reimbursement for accredited degree programs

Paid New Parent Leave that can be used for adoption or birth

Pet insurance to protect your furbabies

A robust mental health benefit and EAP service through Spring Health to support you when you need it most

RxBenefits provides equal opportunities for everyone who works for us and everyone who applies to join our team, without regard to sex or gender, gender identity, gender expression, age, race, religious creed, color, national origin, ancestry, pregnancy, physical or mental disability, medical condition, genetic information, marital status, sexual orientation, any service, past, present, or future, in the uniformed services of the United States (military or veteran status), or any other consideration protected by federal, state, or local law.

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