Vice President Corporate Actuarial
Vice President Corporate Actuarial
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Salary Not Disclosed
1 Vacancy
Job Description
Hi were Oscar. Were hiring a Vice President Corporate Actuarial to join our Actuarial team.
Oscar is the first health insurance company built around a full stack technology platform and a focus on serving our members. We started Oscar in 2012 to create the kind of health insurance company we would want for ourselvesone that behaves like a doctor in the family.
About the role
The Vice President Corporate Actuarial is responsible for managing and leading all Actuarial functions for the Valuation pillar of the Actuarial department in support to the Chief Actuarial Officer. The Vice President Corporate Actuarial directly shapes departmental and company strategy via a deep understanding and expertise with regard to Oscars business goals the health insurance industry the nationwide regulatory landscape and the pillar which they support. He or she incorporates and furthers actuarial expertise throughout the organization through their knowledge of leading industry best practices. The Vice President Corporate Actuarial is an experienced people leader with proven ability to lead and develop a team of senior and technical Actuarial talent.
You will report to the Chief Actuarial Officer.
Work Location:
Oscar is a blended work culture where everyone regardless of work type or location feels connected to their teammates our culture and our mission.
If you live within commutable distance to our New York City office (in Hudson Square) our Tempe office (off the 101 at University Dr) or our Los Angeles office (in Marina Del Rey) you will be expected to come into the office at least two days each week. Otherwise this is a remote / workfromhome role.
You must reside in one of the following states: Alabama Arizona Arkansas California Colorado Connecticut Florida Georgia Illinois Indiana Iowa Kansas Kentucky Maine Maryland Massachusetts Michigan Minnesota Missouri Nevada New Hampshire New Jersey New Mexico New York North Carolina Ohio Oregon Pennsylvania Rhode Island South Carolina Tennessee Texas Utah Vermont Virginia Washington or Washington D.C. Note this list of states is subject to change. #LIRemote
Pay Transparency:
The base pay for this role is: $255200 per year $334950 per year. You are also eligible for employee benefits participation in Oscars unlimited vacation program company equity grants and annual performance bonuses.
Responsibilities
- Oversee corporate actuarial team leading the monthly reserving and risk adjustment forecasting processes ensuring accurate and reliable estimates of loss reserves. Use statistical techniques and actuarial modeling to monitor trends factoring in economic changes and internal shifts in claims processes.
- Provide financial updates and actionable insights to senior leadership membership on a monthly basis enabling the company to make informed decisions on pricing risk and reserve adequacy.
- Serve as appointed actuary for Oscar Health
- Collaborate with senior leadership to design and implement reinsurance strategies that optimize risk transfer capital allocation and surplus preservation.
- Maintain clear and consistent communication and collaboration with data science underwriting and claims departments to discuss and proactively manage potential changes in claim trends.
- Coordinate feedback and communication between pricing and reserving functions to bridge the Budget and Reserving views of profitability across the business.
- Manage relationships with external actuarial consultants and auditors
- Engage with Finance to inform P/L views and earnings calls
- Perform and/or ensure Actuarial staff are upholding the professional duties and continuing education as required for Actuarial Opinions and Certifications.
- Own Corporate Actuarial functions for Oscars total book of business: all markets lines of business and entities. Including but not limited to:
- Ensure processes are executed timely maintaining optimal quality and consistency of information reported.
- Provide an effective level of visibility into financial results and drivers to support analysis reporting and business outcomes.
- Communicate and review with business executives and key internal and external stakeholders.
- Own and continually enhance Actuarial methodologies and business processes specific to the Valuation pillar. Including but not limited to:
- Ensure models are continuously improved to incorporate the latest data and Actuarial and statistical approaches and ensure compatibility and consistency across the Actuarial organization.
- Execute and drive understanding of key risks and drivers with external Stakeholders at the Management Committee and below.
- Ensure processes and underlying infrastructure are scalable to support future growth needs develop subject matter expertise and ensure sufficient staffing to ensure business continuity.
- Responsible for owning and explaining Actuarial reporting and control requirements. Including but not limited to:
- Own the development enhancement and monitoring of key reporting initiatives or functions such as: IBNR risk adjustment accruals reinsurance estimates RADV estimates other accruals rate setting Actuarial Baseball Cards (ABCs) trend reporting medical cost drivers and product/line/initiatives monitoring.
- Ensure development of robust controls surrounding the above reporting to understand impacts and drivers.
- Lead the robust capacity building for new products strategic functions or initiatives. Including but not limited to:
- Work closely with executives departmental leadership and other key internal stakeholders to build and enhance risk assessment impacts analytics and understand key drivers.
- Develop analytics and modeling capabilities to foster effective product decisions.
- Coaching and development of Actuarial leadership within the team to identify successors and support their teams toward professional designations and to meet Actuarial team objectives.
- Compliance with all applicable laws and regulations.
- Other duties as assigned.
Qualifications
- Associate or Fellow in the Society of Actuaries or Casualty Actuary Society.
- 15 years of relevant Actuarial experience.
- 8 years of strong leadership and pricing background within the insurance industries.
Bonus Points
- Mastery of Actuarial principles specific to the role the Affordable Care Act business drivers rate setting methodologies valuation and financial & regulatory reporting.
- Demonstrated ability to navigate ambiguity to drive to outcomes work with large datasets and distill analyses into actionable business insights with seasoned judgment and experience.
- Collaborative attitude to work in highly crossfunctional organizations.
- Executive presence and ability to communicate with influence and manage stakeholders including Clevel executives.
This is an authentic Oscar Health job opportunity. Learn more about how you can safeguard yourself from recruitment fraud here.
At Oscar being an Equal Opportunity Employer means more than upholding discriminationfree hiring practices. It means that we cultivate an environment where people can be their most authentic selves and find both belonging and support. Were on a mission to change health care an experience made whole by our unique backgrounds and perspectives.
Pay Transparency: Final offer amounts within the base pay set forth above are determined by factors including your relevant skills education and experience. Fulltime employees are eligible for benefits including: medical dental and vision benefits 11 paid holidays paid sick time paid parental leave 401(k) plan participation life and disability insurance and paid wellness time and reimbursements.
Reasonable Accommodation: Oscar applicants are considered solely based on their qualifications without regard to applicants disability or need for accommodation. Any Oscar applicant who requires reasonable accommodations during the application process should contact the Oscar Benefits Team to make the need for an accommodation known.
Artificial Intelligence (AI) Guidelines: Please see our AI Guidelines for the acceptable use of artificial intelligence during the interview process at Oscar.
California Residents: For information about our collection use and disclosure of applicants personal information as well as applicants rights over their personal information please see our Notice to Job Applicants.
Required Experience:
Chief
Employment Type
Full-Time
