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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.
Job Responsibility
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
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)
Nice to have
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
Satisfy Life-specific U.S. Qualification Standards (USQS) requirements
Experience with statutory and GAAP insurance accounting
Strong communication, organizational, and cross-functional leadership skills