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Reporting Actuary

1 month ago

Minneapolis, United States Gravie Full time
Hi, we're Gravie, and we are building the health plan of the future. For the past few decades, the health insurance industry has evolved to serve the needs of employers, insurance companies, brokers, and (sometimes) doctors and hospitals. The needs of the consumer, however, have largely been left out of the equation. We're changing that. We are rebuilding the entire health insurance stack, with the consumer as the central focus. Our goal is to create a health plan that people can love.

A Little More About Us:
• We know healthcare. Our company was founded and is still led by industry veterans who have started and grown several market-leading companies in the space.
• We are quickly becoming one of the fasting growing health benefits companies in the country, having organically grown revenues by triple digits over the past few years. Also, we were awarded Inc Magazines Best in Business Gold Medal award in 2021.
• We have raised money from top tier investors who share the same long-term vision as we do of building an industry defining company that will endure over the long run. We are well capitalized.
• Our customers like us. Our revenue churn is in the single digits, in an industry where greater than 20% churn is common.
• Our culture is unique. We tend to be non-hierarchical, merit-driven, opinionated but kind people who thrive working in a high-performance, fast-paced environment. People at Gravie care deeply about making a positive impact in the lives of the people we serve. We may not be the right place for everybody, but if you get energized by doing work every day that focuses on putting consumers at the front of the line, we could be a great place for you. It takes unique people and diverse perspectives to deliver our results. We encourage you to be your authentic self - we like you that way.

We're looking for a Reporting Actuary to report to our Chief Actuary and play a key role in building the function. You will drive monthly and quarterly analysis of claims experience to drive actionable insights to the business as well as build Gravie's overall understanding of how it's unique product design drives bottom line results.

You will:
• Drive the development of cost and utilization reporting to better understand drivers of total medical and pharmacy claims, and understanding specifically how those drivers flow through to specific and aggregate stop loss liabilities.
• Work across the company to provide thought leadership, align stakeholders, build confidence in the reporting models and processes, and incorporate senior leadership feedback.
• Partner with the insurance accounting function to ensure robust support for specific and aggregate reinsurance coverage offered through Gravie's captive reinsurer.
• Deliver actionable insights to drive pricing modifications, product design changes, and other business-focused decisions.
• Prepare, perform and/or review complex actuarial analyses and financial modeling.
• Perform and/or review IBNP/IBNR liability/reserve development.
• Seek and provide peer-review to ensure high quality client results.
• Demonstrate commitment to our core competencies of being authentic, curious, creative, empathetic and outcome oriented..

You bring:
• A bachelor's degree in Actuarial Science, Mathematics, Statistics or a related field
• 7+ years of relevant and progressively responsible actuarial experience with medical and/or stop-loss insurance coverages/products[AS1]
• Self-motivation and the ability to work both independently and through collaboration with a team
• The ability to manage complex and multi-layered projects utilizing both internal and external resources
• The ability to apply actuarial concepts and calculations to diverse situations
• Excellent verbal and written communication, problem-solving and analytical skills
• Strong general business acumen

Extra credit:
• Previous start-up company experience
• Previous experience with level-funded products
• An Associateship or Fellowship in the Society of Actuaries and a Membership in the American Academy of Actuaries

Competitive pay is standard. Our unique benefits program is the gravy, i.e., the special sauce that sets our compensation package apart. In addition to standard benefits, Gravie's package includes alternative medicine coverage, flexible PTO, 16 weeks paid parental leave, paid holidays, cell phone reimbursement, education reimbursement, and 1 week of paid paw-ternity leave just to name a few.

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