Aetna Actuarial Senior Director in Chicago, Illinois
Req ID: 54359BR
This is a critical leadership role responsible for protecting Aetna's financial integrity as we develop and evolve our highly complex and highly varied Joint Venture partnerships. This role serves as the lead for all actuarial & underwriting functions associated with building and maintaining joint venture (JV) health care arrangements, for both Commercial and Medicare lines of business, for all JV geographies, and all business size segments. There are currently five Aetna JV's across the country. In this role you will have accountability for all actuarial & underwriting responsibilities for the existing JV's and the development and implementation of actuarial & underwriting for any new joint ventures. Accountable to JV segment leadership and JV CEO's and Boards of Directors. Serve as a member of the JV segment leadership team in crafting and executing JV overall strategy, and same for each individual joint venture in their unique strategies geared to their specific local markets.
Responsible for protecting the financial integrity of the joint ventures by designing and developing sound risk management practices, product designs that meet customer needs, and pricing strategies that support JV growth and produce returns to Aetna and the joint venture partner commensurate with the risks undertaken. Anticipate and recognize trends and other matters that materially affect financial integrity and provide sound, unbiased reports on these issues.
As the head actuary & underwriter for JV's, you will lead across a matrixed group of partners responsible for all facets of the JVs financial terms, including risk management, pricing, and other actuarial & underwriting functions associated with Aetnas investment in new joint venture partnerships. Each JV is unique and highly complex; you will influence and drive medical economics, informatics, underwriting, finance, sales and network teams to build and maintain leading edge practices for pricing JV's, quoting these arrangements to customers, and monitoring and reporting performance. Develop and design unique and innovative pricing models and financial arrangements; provide JV subject matter expertise and drive to pricing and risk management strategies that are appropriate for the JV's as disruptive innovators in the market.
Drive for and ensure dedicated actuarial and underwriting staff within the local markets to best support JV leadership team in achieving desired growth and profitability. Work in partnership with direct segment and local market pricing and actuarial staff for rating, filing, and case level underwriting. Recommend solutions and influence to secure mutual consensus on deal terms and pricing and risk management strategy.
Consult with Aetna internal function heads as well as with ACO partners and their consultants to explain complex financial arrangements and valuations. Quickly gain knowledge of accountable care businesses, including industry expertise on risk sharing and ACA legislation.
Recommend, secure agreement for, and implement actuarial and underwriting policy and processes. Make periodic assessment of savings delivered and resulting market competitive position. Work with joint venture leadership to continually evolve and increase savings delivery. Support deployment of value based models within joint venture arrangements.
Enable success through creative problem solving, while making sound business judgments regarding risk and profit opportunities. Partner with senior leaders both internally and externally to influence and determine deal terms, reinsurance needs, capital requirements, and more.
10+ years of actuarial experience in healthcare required
FSA or ASA designation and MAAA required
Group Underwriting experience strongly preferred
Superior communication and presentation skills are necessary
Strong and well-rounded strategic thinker needed - provide thought leadership on effective strategies and sound risk management for disruptive innovations like Aetna's joint ventures
The best candidate will have strong skills in: collaboration, team building, and negotiation
The highest level of education desired for candidates in this position is a Bachelor's degree or equivalent experience.
LICENSES AND CERTIFICATIONS
Actuarial/Associate of the Society of Actuaries is required
Actuarial/Fellow of the Society of Actuaries is desired
Actuarial/Member of the American Academy of Actuaries is required
Functional - Actuarial/Risk analysis/management/7-10 Years
Functional - Actuarial/Financial actuarial analysis/7-10 Years
Functional - Actuarial/Modeling & tool development/7-10 Years
Functional - Management/Management - Project management (non-IT)/4-6 Years
Functional - Underwriting/Financial arrangements/4-6 Years
Flexible telework / office-based schedule.
Hartford or Chicago is preferred for office location, however other locations will be considered.
ADDITIONAL JOB INFORMATION
Aetna is about more than just doing a job. This is our opportunity to re-shape healthcare for America and across the globe. We are developing solutions to improve the quality and affordability of healthcare. What we do will benefit generations to come.
We care about each other, our customers and our communities. We are inspired to make a difference, and we are committed to integrity and excellence.
Together we will empower people to live healthier lives.
Aetna is an equal opportunity & affirmative action employer. All qualified applicants will receive consideration for employment regardless of personal characteristics or status. We take affirmative action to recruit, select and develop women, people of color, veterans and individuals with disabilities.
We are a company built on excellence. We have a culture that values growth, achievement and diversity and a workplace where your voice can be heard.
Benefit eligibility may vary by position. Click here to review the benefits associated with this position.
Aetna takes our candidates's data privacy seriously. At no time will any Aetna recruiter or employee request any financial or personal information (Social Security Number, Credit card information for direct deposit, etc.) from you via e-mail. Any requests for information will be discussed prior and will be conducted through a secure website provided by the recruiter. Should you be asked for such information, please notify us immediately.
Job Function: Actuarial
Aetna is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or protected Veterans status.