Actuarial Director - Enterprise Valuation
Location: This role requires associates to be in-office 3 days per week, fostering collaboration and connectivity, while providing flexibility to support productivity and work-life balance. This approach combines structured office engagement with the autonomy of virtual work, promoting a dynamic and adaptable workplace. Alternate locations may be considered if candidates reside within a commuting distance from an office.
Please note that per our policy on hybrid/virtual work, candidates not within a reasonable commuting distance from the posting location(s) will not be considered for employment, unless an accommodation is granted as required by law.
The Actuarial Director is responsible for providing actuarial leadership and oversight for statutory reserve reporting, reinsurance arrangements, and financial risk management activities supporting Elevance Health insurance subsidiaries. Primary responsibilities include statutory actuarial opinions and memoranda, reserve adequacy analysis, reinsurance monitoring, and actuarial support for complex funds withheld arrangements across multiple lines of business.
How you will make an impact:
Lead actuarial support for statutory reserve reporting and financial reporting requirements for life and health insurance entities.
Support preparation of statutory actuarial opinions and memoranda, including coordination with internal and external stakeholders and regulatory requirements.
Monitor and analyze experience, profitability, and reserve adequacy by line of business and product.
Provide actuarial oversight for complex reinsurance arrangements, including funds withheld coinsurance structures covering various health insurance lines of business.
Partner closely with Finance, Accounting, Investments, and Corporate Actuarial teams to support statutory and GAAP financial reporting.
Ensure actuarial models, reserve calculations, and related accruals are appropriate, well controlled, and compliant with applicable accounting and regulatory requirements.
Support governance, audit, and regulatory interactions related to actuarial and reinsurance matters.
Serve as actuarial representative on major cross-functional initiatives involving reserving, financial reporting, and reinsurance.
Assist in developing internal actuarial governance and succession planning capabilities for appointed actuary responsibilities.
Minimum Requirements:
Requires a BA/BS degree and minimum of 6 years related experience; or any combination of education and experience, which would provide an equivalent background.
FSA required from the Society of Actuaries (SOA).
Preferred Skills, Capabilities and Experiences:
BA/BS in Actuarial Science, Mathematics, Statistics, Finance, or related field preferred.
Minimum 6 years of actuarial experience, preferably including statutory valuation, reserve analysis, or financial reporting preferred.
Experience with reinsurance structures and reserve financing arrangements strongly preferred.
Experience with funds withheld reinsurance arrangements preferred.
Qualification to sign both NAIC Health and Life Statements of Actuarial Opinion preferred.
Fellow of the Society of Actuaries (FSA) strongly preferred. (but ASA acceptable if other qualifications are all met)
Satisfy Life-specific U.S. Qualification Standards (USQS) requirements. necessary to support statutory actuarial opinions for life insurance entities
Experience with statutory and GAAP insurance accounting
Strong communication, organizational, and cross-functional leadership skills.
For candidates working in person or virtually in the below location(s), the salary range for this specific position is $ *155,760 to $ 233,640.
Locations: Mendota Heights, MN
In addition to your salary, Elevance Health offers benefits such as, a comprehensive benefits package, incentive and recognition programs, equity stock purchase and 401k contribution (all benefits are subject to eligibility requirements). The salary offered for this specific position is based on a number of legitimate, non-discriminatory factors set by the Company. The Company is fully committed to ensuring equal pay opportunities for equal work regardless of gender, race, or any other category protected by federal, state, and local pay equity laws .
The salary range is the range Elevance Health in good faith believes is the range of possible compensation for this role at the time of this posting. This range may be modified in the future and actual compensation may vary from posting based on geographic location, work experience, education and/or skill level. Even within the range, the actual compensation will vary depending on the above factors as well as market/business considerations. No amount is considered to be wages or compensation until such amount is earned, vested, and determinable under the terms and conditions of the applicable policies and plans. The amount and availability of any bonus, commission, benefits, or any other form of compensation and benefits that are allocable to a particular employee remains in the Company's sole discretion unless and until paid and may be modified at the Company's sole discretion, consistent with the law.
Please be advised that Elevance Health only accepts resumes for compensation from agencies that have a signed agreement with Elevance Health. Any unsolicited resumes, including those submitted to hiring managers, are deemed to be the property of Elevance Health.
Who We Are
Elevance Health is a health company dedicated to improving lives and communities - and making healthcare simpler. We are a Fortune 25 company with a longstanding history in the healthcare industry, looking for leaders at all levels of the organization who are passionate about making an impact on our members and the communities we serve.
How We Work
At Elevance Health, we are creating a culture that is designed to advance our strategy but will also lead to personal and professional growth for our associates. Our values and behaviors are the root of our culture. They are how we achieve our strategy, power our business outcomes and drive our shared success - for our consumers, our associates, our communities and our business.
We offer a range of market-competitive total rewards that include merit increases, paid holidays, Paid Time Off, and incentive bonus programs (unless covered by a collective bargaining agreement), medical, dental, vision, short and long term disability benefits, 401(k) +match, stock purchase plan, life insurance, wellness programs and financial education resources, to name a few.
Elevance Health operates in a Hybrid Workforce Strategy. Unless specified as primarily virtual by the hiring manager, associates are required to work at an Elevance Health location at least once per week, and potentially several times per week. Specific requirements and expectations for time onsite will be discussed as part of the hiring process.
The health of our associates and communities is a top priority for Elevance Health. We require all new candidates in certain patient/member-facing roles to become vaccinated against COVID-19 and Influenza. If you are not vaccinated, your offer will be rescinded unless you provide an acceptable explanation. Elevance Health will also follow all relevant federal, state and local laws.
Elevance Health is an Equal Employment Opportunity employer and all qualified applicants will receive consideration for employment without regard to age, citizenship status, color, creed, disability, ethnicity, genetic information, gender (including gender identity and gender expression), marital status, national origin, race, religion, sex, sexual orientation, veteran status or any other status or condition protected by applicable federal, state, or local laws. Applicants who require accommodation to participate in the job application process may contact elevancehealthjobssupport@elevancehealth.com for assistance.
Qualified applicants with arrest or conviction records will be considered for employment in accordance with all federal, state, and local laws, including, but not limited to, the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act.
Prospective employees required to be screened under Florida law should review the education and awareness resources at HB531 | Florida Agency for Health Care Administration (https://info.flclearinghouse.com/) .
