Come Smile with Us!
Delta Dental of Iowa invites applications for a part-time Actuary. You will be responsible for the development and review of various aspects of ratemaking and pricing for commercial and government group and individual dental and vision benefits products. You will also direct and support actuarial staff involved in the pursuit of professional accreditation in the field of actuarial science and practice. In conjunction with outside contract actuaries, you will review and advise the VP of Underwriting and Actuarial on the appropriateness and adequacy of various aspects of ratemaking and pricing of our products.
Delta Dental of Iowa provides dental and vision insurance to more than 1 million Iowans. As a not-for-profit insurance company, our mission is to improve the health and smiles of the people we serve. We give back to Iowa communities by supporting and funding health and wellness initiatives that make a measurable difference in the overall health of underserved Iowans. Come see why we are passionate about "Bringing Smiles" to our customers. Our team enjoys competitive pay and benefits, an awesome "One Team" approach, and a company culture that fosters "Exceptional Quality Service" and "Leadership at All Levels." Love where you work!
Essential Functions and Principal Accountabilities:
- Provide direction and support to actuarial staff involved in pursuit of actuarial accreditation.
- Annual development of manual rate factors used for initial large group dental product pricing.
- Review of cost allocation models to develop appropriate administrative cost component of rates and fees.
- Review of monthly GAAP and Statutory IBNR and active life reserves.
- Development of monthly GAAP and Statutory IBNR for certain product lines.
- Forecast Underwriting Revenue and Margins for annual budget and quarterly forecasting processes utilizing past data trends, judgment, and knowledge of environmental factors to reasonability estimate future financial results.
- Pricing analysis and rate setting for small group dental, individual dental, and vision products in order to achieve target underwriting margins.
- Collaborate with Provider Relations on provider reimbursement schedules and support network growth strategies by providing analysis on expected changes to reimbursement amounts and long-term impact on DDIA.
- Work with Government programs staff in analysis of experience results, development of plan design options and pricing for dental products offered through government sponsored programs; analysis of State’s actuaries’ pricing, communicate impacts of pricing assumptions on DDIA’s expected financial results.
- Timely and accurate regulatory rate filings ensuring department knowledge and compliance with federal and state regulations.
- Effective communication with internal and external stakeholders; translating detailed analytic data into concise recommendations for peers and management.
- Job requires confidentiality with regard to information acquired in carrying out the job functions.
- Perform other duties as assigned.
- Bachelor’s degree from accredited college required
- ASA or FSA designation by the Society of Actuaries. Other actuarial designations or accreditations will be considered.
- Ten or more years of pricing, reserving, and forecasting work experience required, strongly prefer experience in health insurance or property and casualty preferred
- Formal leadership experience required.
- Advanced knowledge of Microsoft Excel required; SQL experience preferred.
- Ability to perform detailed calculations and independently solve complex problems.
Delta Dental of Iowa is an Affirmative Action and Equal Opportunity Employer committed to providing equal employment opportunity for all persons without unlawful regard of race, color, religion, sex, sexual orientation, gender identity, age, national origin, individuals with disabilities, protected veteran status, or any other legally protected basis.
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