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To help to make this company imaginative and prescient vision and also assignment comes legitimate; InnovaCare Health will be open regarding fresh place seeing that Actuarial Analyst II throughout Fort Lee begin as November 2017. Everybody who’s thinking about completing this kind of nonincome producing, you should engage in this particular Actuarial Analyst II November 2017 recruitment within Fort Lee. It truly is recommended for everyone members to organize many essential prerequisites just for this employment recruitment method, for the reason that method will be needing someone to give suitable standards which the organization would like due to this location. If you are that you are one that may load the options, you can attempt to see more information about Actuarial Analyst II November 2017 in Fort Lee below.

Actuarial Analyst II at InnovaCare Health in Fort Lee November 2017

Company Overview

InnovaCare is the leading provider of managed healthcare services in Puerto Rico. It operates three Medicare Advantage plans: MMM Healthcare (MMM), PMC Medicare Choice (PMC), and First Plus.

The three plans combine to comprise the leading Medicare Advantage organization in Puerto Rico and a top 10 national carriers by enrollment, serving more than 200,000 members in all 78 counties of Puerto Rico. Most recently, InnovaCare was awarded a Reforma (Puerto Rico Medicaid) contract, effective April 2015, serving over 300,000 low income beneficiaries.

In addition, InnovaCare also operates the MSO of Puerto Rico, an independent entity which contracts with a network of physicians, hospitals and other providers to serve the InnovaCare’s beneficiaries. MSO provides administrative support to independent physician associations and supports operational optimization.

InnovaCare’s Actuarial Department serves a pivotal role in the company’s leadership, fulfilling core actuarial functions and providing key strategic decision-making support. Department leadership is focused on training future leaders, placing heavy emphasis on technical knowledge and strong communication, actuarial modeling and strategic thinking, individual contributions and teamwork, both within the department and across the company at large. While InnovaCare actuaries each spend time focusing on specific core disciplines, a dynamic fast-paced environment coupled with a regular rotation will ultimately expose actuaries to all key functions within the company.

Actuarial Analyst II / Senior Analyst -Core Responsibilities

  • Design actuarial modeling approaches to solving actuarial problems.
  • Develop and update actuarial models in Microsoft Excel and VBA for Excel.
  • Pro-actively identify and propose solutions to business problems. * Perform database queries using Microsoft Access, SQL, or SAS.
  • Draft actuarial communications to be reviewed by Actuarial Management.
  • Act as subject matter expert point-of-contact with other areas of the company outside of the Actuarial Department.
  • Mentor and train Junior Actuaries in area of expertise.
  • Perform regular ad-hoc analyses at the direction of Actuarial Management.
  • Analysts will initially be assigned to one of the focus areas below and rotate every 18-24 months.

Actuarial Focus Areas

  • Pricing
  • Participate in the Medicare Advantage and Part D bidding processes.
  • Support the defense of pricing assumptions for annual audits.
  • Assist in pricing of employer-provided retiree coverage.
  • Assist in pricing of Reforma (Medicaid) contract renewals.
  • Forecasting
  • Support annual budget process and monthly forecast refresh process.
  • Participate in long-term financial forecasting to support company valuation and lender communications.
  • Project the financial impact of significant strategic decisions, e.g. mergers, acquisitions, divestitures, etc.
  • Valuation
  • Support monthly reserve setting process:
  • IBNP calculations
  • Risk Adjustment Factor (RAF) accruals
  • Provider incentives and settlements
  • Medicare Part D accruals * Evaluate financial experience in relation to projections
  • Perform analyses on variances * Review year-end financial statements
  • Support defense of company reserves during audit
  • Reconcile monthly financial statements to actuarial data sources
  • Analytics
  • Develop dashboards and tracking tools for key performance indicators (KPI).
  • Develop drill-down analyses to help explain forecast variances.
  • Support quantification and other analyses of medical management initiatives.
  • Perform ad-hoc analyses to support lobbying efforts.


  • Bachelor's and/or Master's degree, with 3.5 or higher cumulative GPA preferred
  • 3 to 6 years of experience as an actuary
  • Passed at least 4 exams of the Society of Actuaries (SOA)
  • Mastery of Microsoft Excel
  • Must be authorized to work in the United States and have permission from the government to earn an income by working in the United States
  • Upon hiring, participation in InnovaCare Actuarial Student Program
  • Periodic travel (up to 15%) to Puerto Rico
  • A self-motivated, detail-oriented individual with a demonstrated ability to work well independently and in teams
  • Strong analytical and problem solving skills
  • Excellent time management skills

Desirable Qualifications (not requirements)

  • Strong written and verbal communication skills, including the ability to communicate complex concepts effectively with technical and non-technical audiences
  • Working knowledge of SAS and SQL
  • Exposure to Microsoft Access, PowerPoint
  • Background in one or more computer programming languages preferred

Job Type: Full-time

Required education:

  • Bachelor's

Required experience:

  • Actuary: 6 years

If you are interested and qualified to follow the job recruitment, you have to prepare yourself and send your application letter immediately. Only candidates who meet the criteria for Actuarial Analyst II in Fort Lee, Fort Lee who will be called to attend interview. If you still do not satisfy with our job recruitment information above, you can try to read other job recruitment information that we provide in our website which still located in Fort Lee region from any other company. You can also try to find other job recruitment information for Actuarial Analyst II in Fort Lee below.

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