At CVS Health, we're building a world of health around every consumer and surrounding ourselves with dedicated colleagues who are passionate about transforming health care.As the nation's leading health solutions company, we reach millions of Americans through our local presence, digital channels and more than 300,000 purpose-driven colleagues - caring for people where, when and how they choose in a way that is uniquely more connected, more convenient and more compassionate. And we do it all with heart, each and every day.
- A Brief Overview
Participates in leadership development activities, workshops, and training sessions. Engages in self-assessment, receives feedback, and works on developing key leadership skills such as communication, problem-solving, and decision-making. Collaborates with mentors, participates in team projects, and demonstrates a commitment to personal and professional growth to enhance their leadership capabilities and contribute effectively to the organization.
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What you will do
- Evaluates the potential risks associated with insurance policies and develop models to estimate the likelihood and severity of potential losses.
- Analyzes Actuarial data to assess risks accurately, subsequently making recommendations to management for risk management improvements.
- Assists in determining insurance premiums by analyzing data and estimating the expected costs of claims.
- Conducts research on Actuarial market trends, competitor pricing, and underwriting guidelines to support pricing decisions.
- Collects, organizes, and analyzes large volumes of data related to insurance policies, claims, demographics, and other relevant factors.
- Develops and maintains Actuarial models to project future financial outcomes, such as premium income, claim payments, and reserve requirements.
- Prepares key reports and presentations summarizing findings, assumptions, and conclusions.
- Provides actuarial expertise and insights to assist in product development, risk management, and strategic planning.
- Collaborates with other departments, such as underwriting, claims, and finance, to support their decision-making processes.
- 0-2 years work experience
- Basic awareness of problem solving and decision making skills
- Bachelor's degree preferred.
Requisition Job DescriptionThe Actuarial Development Program is a full-time, dynamic, 4 1/2 year (minimum) program designed to develop individuals entering the Actuarial field into future leaders. The program provides you with challenging work environments geared toward developing the future financial leaders of Aetna, along-side the support actuarial students need to pass exams and become credentialed actuaries.
The program doesn't just help you develop actuarial skills; it accelerates your overall development. You'll get well-rounded experience and the ability to contribute to the dynamic world of healthcare.
About this Business Area: Our Actuarial organization drives to support business leaders with critical thought partnership and end-to-end accountability for business results. We are focused on growing leaders that specialize in managing risk. As an Actuary within Aetna, a CVS Health company, you will leverage strong analytical skills, business knowledge and understanding of human behavior to support the team in activities related to pricing, reserving, forecasting, data analytics, competitive intelligence, healthcare trend analytics and tracking business results.You will participate in:
Each of the four rotations will immerse you in a key business area and help you gain exposure to the following:
- Risk Assessment: Understand the nature of specific risks and share results of analysis with management.
- Rate Filing: Compile and analyze filing data then prepare and submit necessary exhibits for regulatory filings.
- Reserve Analysis: Analyze claim data and monitor reserve levels for appropriateness and demonstrate an understanding of actuarial reserving techniques and issues.
- Planning & Forecasting: Provide technical support and analysis for planning, forecasting, and reporting process.
- Pricing, Trend & Benefit Design: Develop and recommend pricing and trend for product and/or services.
- Technical Proficiency: Develop creative technical solutions to a variety of problems. Demonstrate proficiency with spreadsheets and familiarity with database and web-based applications. Develop and implement appropriate tools and models. Develop and finalize business requirements and/or specifications for processes, tools, and systems.
Have a major, minor, concentration, or work experience relevant to the position. Examples include: Actuarial Science, Analytics, Data Science, Economics, Engineering, Mathematics, Risk Management, Statistics, or other related degreeRequired Qualifications
• Meet educational requirements (see education section)
• Have a willingness to relocate to an identified Actuarial hub: Chicago IL
• Have passed one actuarial exam by 3/31/2025 (June 2025 hires)
• Have passed one actuarial exam by 10/31/2024 (January 2025 hires)Preferred Qualifications
• Internship or work experience supporting Actuarial functions of an organization or group area.
• Demonstrated leadership experience. Examples include active roles in student or social organization activities, or sports
• Strong written communication skills
• Have experience with analytical or coding software. Examples include SAS, Python, Excel, VBA, SQL, or R
• Be able to work in a fast-paced environment and meet tight deadlines
• Possess strong analytical and problem resolution skills
• Encourage teamwork and a positive environment to improve team effectiveness
• Be resourceful and can quickly and successfully adapt to change
40Time Type
Full timePay Range
The typical pay range for this role is:$67,980.00 - $135,960.00This pay range represents the base hourly rate or base annual full-time salary for all positions in the job grade within which this position falls. The actual base salary offer will depend on a variety of factors including experience, education, geography and other relevant factors. This position is eligible for a CVS Health bonus, commission or short-term incentive program in addition to the base pay range listed above.Our people fuel our future. Our teams reflect the customers, patients, members and communities we serve and we are committed to fostering a workplace where every colleague feels valued and that they belong.Great benefits for great peopleWe take pride in our comprehensive and competitive mix of pay and benefits - investing in the physical, emotional and financial wellness of our colleagues and their families to help them be the healthiest they can be. In addition to our competitive wages, our great benefits include:
- Affordable medical plan options, a 401(k) plan (including matching company contributions), and an employee stock purchase plan.
- No-cost programs for all colleagues including wellness screenings, tobacco cessation and weight management programs, confidential counseling and financial coaching.
- Benefit solutions that address the different needs and preferences of our colleagues including paid time off, flexible work schedules, family leave, dependent care resources, colleague assistance programs, tuition assistance, retiree medical access and many other benefits depending on eligibility.