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Position Summary
This is a dual role that serves as a key member of the functional team in charge of the annual Commercial Large Group Rate Review while also supporting the Central Region.
Serve as a leading member of the functional team in charge of the annual Commercial Large Group Rate Review
• Responsible for developing timeline for LGRR/MYPCI and coordinating the process for the entire country
• Host LGRR Office Hours by providing updated guidance and national decisions as needed
• Coordinate with the Rating Methodology team on studies/updates
• Prepare supporting documentation needed for the Large Group Rate Review including but not limited to the RR Template, Market Experience, PCRs, trend model, CFOxLM data, Current Entries file, Duration Distribution, Rx Rebates/Spread assumptions, Recon files, NB Report, Rollup files, and BE Worksheet, etc.,
• Aggregate results into an Executive Summary and prepare Powerpoint and other materials for review and approval meetings
• Meet with the market to discuss technical results including but not limited to rate actions, trend and PCRs
Support the Keystone market as a subject matter expert (PA, WV, DE)
• Collaborate with the Plan President, Sales, Finance, Underwriting, Network, Contracting, and Product to develop market specific growth strategies while maintaining enterprise alignment
• Proactively monitor financial performance and provide observations/insights into deep dives
• Participate in the Implementation and Forecasting/Budget discussions
• Oversee the Large Group Rate Filings/DOI objections when applicable
• Takes accountability to ensure market specific requests and deliverables are met in a timely and responsive manner
• Work closely with other regional and functional counterpart on the broader team
• Cultivate continuous improvement to drive accuracy and innovation
Keys to success:
• Demonstrate understanding of complex actuarial functions as well as the market specific dynamics including the competitive landscape
• Build and facilitate creation of initiatives to drive down cost structure
• Take full ownership of complex assignments and act as the trusted lead for the market
• Communicate actuarial findings to business partners
• Anticipate the market's needs and be able to influence and further recommend course of action as you see fit
• Demonstrate leadership that fosters and supports a strong team of individual contributors
• Support actuarial and underwriting functions by applying quantitative skills and analytical methods
Required Qualifications
• Bachelor's degree along with 5+ years of experience
• ASA (Associate of the Society of Actuaries) designation preferred
• Strong technical, analytical, and financial skills
• Excellent verbal and written communication skills
Preferred Qualifications
• FSA (Fellow of the Society of Actuaries) or actively working towards FSA designation
• Ability to thrive in a constantly evolving environment with competing priorities and deadlines
• Collaborate with key stakeholders to formulate recommendations and course of actions
Education
• Bachelor's degree or equivalent experience
Pay Range
The typical pay range for this role is:
$75,400.00 - $182,549.40
This pay range represents the base hourly rate or base annual full-time salary for all positions in the job grade within which this position falls. The actual base salary offer will depend on a variety of factors including experience, education, geography and other relevant factors. This position is eligible for a CVS Health bonus, commission or short-term incentive program in addition to the base pay range listed above. This position also includes an award target in the company's equity award program.
In addition to your compensation, enjoy the rewards of an organization that puts our heart into caring for our colleagues and our communities. The Company offers a full range of medical, dental, and vision benefits. Eligible employees may enroll in the Company's 401(k) retirement savings plan, and an Employee Stock Purchase Plan is also available for eligible employees. The Company provides a fully-paid term life insurance plan to eligible employees, and short-term and long term disability benefits. CVS Health also offers numerous well-being programs, education assistance, free development courses, a CVS store discount, and discount programs with participating partners. As for time off, Company employees enjoy Paid Time Off ("PTO") or vacation pay, as well as paid holidays throughout the calendar year. Number of paid holidays, sick time and other time off are provided consistent with relevant state law and Company policies.
For more detailed information on available benefits, please visit Benefits | CVS Health
We anticipate the application window for this opening will close on: 11/29/2024
Qualified applicants with arrest or conviction records will be considered for employment in accordance with all federal, state and local laws.
Working at
CVS Health
CVS Health revolutionizes the healthcare industry by integrating services across its pharmacy-led health and wellness experiences. They focus on making healthcare more accessible and affordable, offering innovative solutions to improve patient care and community health.