Actuarial Fellow utilizes statistical analysis and modeling to assess and manage risk and estimate financial outcomes. Compiles, prepares, and analyzes data to develop statistical models, probability tables, and actuarial studies and evaluate the likelihood and financial impact of various risks. Being an Actuarial Fellow assists with product design and development by analyzing risk groups and calculating appropriate insurance rates, premium levels, and rating systems and structures. Records and tracks accruals, claims, and settlements and prepares documents for input into regulatory filings, financial budgets, forecasts, and other financial projections. Additionally, Actuarial Fellow applies knowledge of mathematics, probability, statistics, principles of finance and business to calculations in life, health, social, and casualty insurance, annuities, and pensions. Requires a bachelor's degree. Requires Fellow of Society of Actuaries (FSA). Typically reports to a manager. To be an Actuarial Fellow typically requires 12+ years of related experience. Achievement and depth of knowledge of specialization or field is the main differentiator. Advisory role on complex and challenging projects and initiatives. Recognized for deep technical and industry knowledge and innovative thinking. Provides thought leadership and guidance to a functional area and the organization. (Copyright 2024 Salary.com)
ABOUT US
Join us in making a career in Independent Living Systems, an industry leader in managing home and community-based programs for over 20 years. Independent Living Systems, LLC and its subsidiaries offer a comprehensive range of clinical and third-party administrative services to managed care organizations and providers that serve high-cost, complex member populations in the Medicare, Medicaid, and Dual-Eligible Market. ILS provides tailored integrated solutions aimed at improving health outcomes while rebalancing costs, addressing social determinants of health and connecting members with community-based resources.
Position Summary
The Actuarial Intern will work closely with the Director of Actuarial Services and Medical Economics team to gain hands-on actuarial experience in the areas of Medicaid, Long-Term Care, and Medicare Advantage. This internship offers a unique opportunity to apply analytical skills, enhance technical proficiency, and contribute to critical projects within the actuarial team at ILS.
Essential Functions
Education and Experience
Required Skills
EEO STATEMENT
In compliance with the Drug-Free Workplace Act of 1988, Independent Living Systems has a longstanding commitment to provide a safe, quality-oriented, and productive work environment. Alcohol and drug abuse pose a threat to the health and safety of ILS employees and to the security of the company's equipment and facilities. For these reasons, ILS is committed to the elimination of drug and alcohol use and abuse in the workplace. Independent Living Systems, LLC, and its subsidiaries, including FCC, provides equal employment opportunity to all individuals regardless of their race, color, creed, religion, gender, age, sexual orientation, national origin, disability, veteran status, disability, ancestry, or any other characteristic protected by state, federal, or local law. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
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