Wellmark - Des Moines Vice President and Chief Actuary in Des Moines, Iowa
Please note that Wellmark is leveraging an Executive Search Partner for this role. Any information you provide may be shared with this firm as part of our assessment process
The Vice President and Chief Actuary will lead Wellmark’s actuarial functions, supporting key pricing and financial decisions using the most up to date actuarial science and analytical tools, while maintaining a high level of compliance with regulations and actuarial standards. This executive will leverage the skillset and knowledge to be a leading influencer across Wellmark as critical decisions are made in a time of rapid change in the health insurance industry.
Ideal candidate: an accomplished health actuary (FSA) and an innovative problem solver. They enjoy using advanced technology and sources of data to inform decisions – and they will help Wellmark cultivate this culture across the enterprise. They will find recruiting and developing talented individuals and teams energizing and will have experience balancing the design of work in a high-value, engaging way with effective capacity management. Great communicator capable of effectively building consensus, leading change, and delivering executive and board presentations.
COVID-19 vaccine requirement:
Wellmark administers the Federal Employee Health Program (FEP) in Iowa and South Dakota, which makes us a federal contractor subject to the federal contractor COVID-19 vaccine requirement. As a result, after January 4, 2022, all Wellmark employees must be fully vaccinated unless entitled to a medical or religious accommodation. New hires must become fully-vaccinated or have an accommodation approved within a reasonable time after accepting an offer. Unless an accommodation is in place, proof of vaccination will be required.
Bachelor's Degree in actuarial or management science or mathematics and FSA (Fellow of the Society of Actuaries) designation
15+ years of hands on experience in the actuarial field including 10+ years of in-depth experience in health insurance including knowledge of health benefits products and funding arrangements.
Well-versed in the identification and management of risk.
Ability to critically approach a wide variety of operational issues and produce results through delivering analytically developed, strategic business solutions.
A humanistic approach to leadership with extensive experience in building, leading, motivating, evaluating teams and complex programs. A collaborative leader; experience building consensus and influencing decisions through the development and maintenance of effective working relationships with executive management. Executive presence and ability to deliver a variety of messages to a variety of audiences including board presentations.
Is forward-thinking, exhibits the ability to learn quickly; advocates and proactively leads change efforts; analyzes successes and failures for improvement opportunities; enjoys challenges. Experience planning and implementing change initiatives, remaining flexible to meet constantly changing and sometimes opposing demands. Supports innovation and creativity by encouraging staff to accept and resolve challenges.
Intermittent travel required – up to 5%
Lead pricing across all market segments in which Wellmark participates to achieve target profit margins while maintaining competitive positioning. Ensure pricing is approved, where relevant, by insurance regulators by completing all filing accurately and appropriately.
Build strong working relationships with insurance and other relevant regulators.
Build an understanding of the drivers of medical trend in order to support efforts to lower trend and to enable projection of future trends for pricing and budgeting purposes.
Complete all required filings at a state and federal level (e.g., risk adjustment, MLR) in an accurate and timely fashion.
Develop appropriate estimates of unpaid claims and other relevant accruals (e.g., risk adjustment).
Support value-based payment models through work with Provider contracting teams.
Stay apprised of health and insurance industry trends and ensure knowledge is shared across peers and Senior Leadership.
Ensure actuarial department is adequately staffed and create an environment conducive to high engagement and career growth.
Proactively seek to continuously improve our actuarial capabilities in terms of skillsets, tools and technologies.
Build strong relationships with Officers across the company and exercise effective influence on key initiatives across the enterprise.
Other duties as assigned.
Requisition ID: 214697
REQUIRES NON-COMPETE?: Yes
External Company Name: Wellmark Blue Cross and Blue Shield
External Company URL: www.wellmark.com