Director, Actuary

Overview

More Lives, Better Lived®
As the largest and leading value-based kidney care company, Somatus is empowering patients across the country living with chronic kidney disease to experience more days out of the hospital and healthier at home.

It takes a village of passionate and tenacious innovators to revolutionize an industry and support individuals living with a chronic disease to fulfill our purpose of creating More Lives, Better Lived. Does this sound like you?

Showing Up Somatus Strong

We foster an inclusive work environment that promotes collaboration and innovation at every level. Our values bring our mission to life and serve as the DNA for every decision we make:

• Authenticity: We believe in real dialogue. In any interaction, with patients, partners, vendors, or our teammates, we are true to who we are, say what we mean, and mean what we say.
• Collaboration: We appreciate what every person at Somatus brings to the table and believe that together we can do and achieve more.
• Empowerment: We make sure every voice gets heard and all ideas are considered, especially when it comes to our patients' lives or our partners' best interests.
• Innovation: We relentlessly look for ways to improve upon the status quo to continuously deliver new solutions.
• Tenacity: We see challenges as opportunities for growth and improvement - especially when new solutions will make a difference for our patients and partners.

Showing Up for You

We offer more than 25 Health, Growth, and Wealth Work Perks to help teammates learn, grow, and be the best version of themselves, including:

• Subsidized, personal healthcare coverage (medical, dental vision)
• Flexible Paid Time Off (PTO)
• Professional Development, CEU, and Tuition Reimbursement
• Curated Wellness Benefits supporting teammates physical and mental well-being
• Community engagement opportunities
• And more

About the Role

The Director, Actuary role will join the Somatus Actuarial Services and Valuation team to support the monthly financial close process and will utilize mathematics, statistics, and financial theory to evaluate actuarial liabilities and assess complex financial risks. In this role, you will develop and maintain a variety of valuation models and documentation to support financial reporting, audit, and business decisions. Additionally, this role will contribute to a wide variety of complex projects involving the contracting, reserving, pricing, and financial modeling of a full array of value-based care programs for providers and payors.

Responsibilities

• Produce timely and accurate monthly accruals for actuarial liabilities and provide insights regarding changes in performance
• Produce accurate and timely reporting of forecast and changes to projections for budget modeling
• Produce reconciliations to support financial settlements
• Develop and maintain process documentation and controls
• Support the coordination with internal and external customers, such as payors, vendors, and auditors
• Analyze contract risk and recommend mitigation strategies
• Prepare presentations and detailed reports
• Analyze statistical data around medical/revenue trends
• Exercise advanced statistical knowledge and awareness
• Develop and maintain valuation models, including IBNR and risk adjustment accrual models
• Develop and maintain multiple internal statistical models to support key business goals / initiatives, such as pricing models, financial projections, contract modeling, and ad hoc support projects

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.

Qualifications

Required Education and Experience:

• Bachelor's degree in actuarial science, mathematics, economics, or related field

• 5+ years of decision support, financial analysis, or actuarial experience is required
• Experience with reserving and financial reporting
• Associate Society of Actuaries (ASA), strongly preferred
• Prior experience with financial modeling of value-based care programs for providers and payors
• Prior experience working with a Health Plan or Provider (dialysis organizations, physician groups, etc.)

Knowledge, Skills, and Abilities:

• Strong understanding of Medicare risk adjustment and revenue data
• Expert proficiency with SQL programming and Microsoft Suite (Excel, Word, PowerPoint, Outlook)
• Ability to translate business needs into reporting solutions as well as manage and improve reporting and analytic processes
• Excellent analytical and problem-solving skills
• Excellent written and verbal communication skills
• Ability to work independently and as a leader/member of a team

Other Duties

Physical Requirements
Our priority is the health and safety of our members, colleagues, partners, and community. Proof of COVID-19 Vaccination is required for employment. If you are unable to be vaccinated for medical reasons or sincerely held religious beliefs, we will consider requests for reasonable accommodations consistent with our policy, and where we are able to provide such accommodations without undue hardship to the company pursuant to applicable law.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Somatus, Inc. provides equal employment opportunity to all individuals regardless of their race, color, creed, religion, gender, age, sexual orientation, national origin, disability, veteran status, or any other characteristic protected by state, federal, or local law. Further, the company takes affirmative action to ensure that applicants are employed, and employees are treated during employment without regard to any of these characteristics. Discrimination of any type will not be tolerated.

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