Health Actuary Senior Consultant (Multiple Locations)
Location: Chicago, Illinois
Internal Number: 16199162
Health Actuary Senior Consultant
Deloitte Consulting's actuarial practice is a leading global advisor and implementation partner working with health plans, insurance companies, healthcare providers, governments, drug and device manufacturers and other organizations around the world. Our goal is to solve our client's most challenging issues by focusing on the unique aspects health care in the 21 st century.
IN MULTIPLE LOCATIONS:
New York, Chicago, Minneapolis, Milwaukee, Philadelphia
Work you'll do As a Deloitte Consulting Health Actuarial Senior Consultant, you will assist Deloitte Managers, Senior Managers and Partners in providing strategic and technical consulting services to: health plans, healthcare providers, Federal and State governments, PBMs, drug and device manufacturers, group, disability and long-term care (LTC) insurance carriers, among others.
At Deloitte, you can be a part of the transformation of the health care sector. Deloitte's health actuaries are participating in the development of evidence-based medicine, and the transition of payments from paying for what is done to paying for the value provided. Deloitte health actuaries are involved in designing new programs that are smarter about how public funds are spent. These types of problems require actuaries who are not only technically strong, but also can be innovative, capable of addressing ill defined, complex problems, adhere to legislative and regulatory requirements, and have a business orientation.
You can be part of actuarial modernization, finance and underwriting transformation, mergers & acquisitions, and modeling efforts for group insurance, disability and LTC carriers. Deloitte's health actuaries are involved in solutioning complex business problems impacting people, processes, and technology.
Other responsibilities may include:
Assist clients and teams to define underwriting policies and perform risk score analysis to reduce selection
Price alternative plan designs and define product strategy
Track lapse and retention rates; define strategies to influence based on data
Prepare and review reserves and assumptions in support of Deloitte audits of health care liabilities (incurred but not reported (IBNR), medical loss ratio (MLR) rebates, risk adjustment, etc.) and group insurance liabilities (IBNR, active life reserves, disabled life reserves, etc.) across various accounting bases
Align provider contracting strategy with rating trends
Model and calculate return on investment for medical management and other health plan initiatives
Review Medicare and Part D bid's data elements for appropriateness
Prepare and present client presentations and reports
Assist insurance carriers with the implementation of Long Duration Targeted Improvements for GAAP accounting standards
Assist insurance carriers and health plans on their finance or data modernization journey
Assist to modernize the product suite and underwriting capabilities
Develop models to understand the financial impact of proposed solutions and strategies
Conduct other health actuarial consulting activities, as required
The team Actuarial & Insurance Solutions Deloitte's Actuarial & Insurance Solutions practice works with finance, actuarial, and risk functions to help life insurance companies, property & casualty insurance companies, health plans, and healthcare providers modernize their operations and manage actuarial costs and risks. This involves helping our clients move from where they are today to where they need to be in the future. To enable our success, we use data and insights to inform better ways of managing risk.
With over 250 credentialed actuaries in the U.S., our A&IS practice is one of the largest in the world. We are recognized as a leader in providing comprehensive, high-quality actuarial consulting, advanced analytics, and risk management services to our clients.
4+ years of actuarial experience
Successfully passed minimum of 4 actuarial exams
Travel up to 50%. (While up to 50% of travel is a requirement of the role, due to COVID-19, non-essential travel has been suspended until further notice.)
4+ years of consulting and/or health plan/insurance company experience
Experience leading small to medium sized teams
ASA with progression to FSA, FSA, or career ASA designation
Experience with one or more of the following areas:
Product design and/or product strategy
Reimbursement models - including value based care/ACO modeling
Risk adjustment mechanisms
Group insurance products including disability, group life, dental, supplemental health, LTC, etc.
Merger and Acquisition experience, including actuarial appraisal development
Long Duration Targeted Improvements for GAAP accounting standards
Experience with Medicare products, including Medicare Advantage or Medicare Supplement products for various enrollee types
Medicaid managed care rate setting and other provider reimbursement streams (i.e., DSH, UPL, etc.)
Medicaid waivers (i.e., 1115, 1915 b/c)
Strong client presence with project management, presentation, and facilitation skills
Ability to succeed in team-based or independent environments
Well-organized with the ability to handle several projects/clients simultaneously
Strong oral and written communication skills
Ability to program using SQL
Proficiency with MS Office products, including Outlook, Teams, Word, Excel, and PowerPoint
Experience with major actuarial valuation and projection systems such as PolySystems, AXIS, Prophet, etc.
Dedicated work ethic with a commitment to client service excellence
At Deloitte, our professional development plan focuses on helping people at every level of their career to identify and use their strengths to do their best work every day. From entry-level employees to senior leaders, we believe there’s always room to learn. We offer opportunities to help sharpen skills in addition to hands-on experience in the global, fast-changing business world. From on-the-job learning experiences to formal development programs at Deloitte University, our professionals have a variety of opportunities to continue to grow throughout their career. At Deloitte, we know that great people make a great organization. We value our people and offer employees a broad range of benefits.Our positive and supportive culture encourages our people to do their best work every day. We celebrate individuals by recognizing their uniqueness and offering them the flexibility to make daily choices that can help them to be healthy, centered, confident, and aware. We offer well-being programs and are continuously looking for new ways to maintain a culture where our people excel and lead healthy, happy lives. Deloitte is led by a purpose: to make an impact that matters. This purpose... defines who we are and extends to relationships with our clients, our people and our communities. We believe that business has the power to inspire and transform. We focus on education, giving, skill-based volunteerism, and leadership to help drive positive social impact in our communities. We want job seekers exploring opportunities at Deloitte to feel prepared and confident. To help you with your interview, we suggest that you do your research: know some background about the organization and the business area you’re applying to.