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.Position SummaryThis is a dual role that serves as a key member of the Northeast team in charge of New England Middle Market accounts (Key and Select accounts) while also supporting the Commercial Large Group Competitive Intelligence function, among other actuarial functions.Serve as the subject matter expert and Middle Market actuary for the New England market (CT, MA, ME, NH, RI, VT):
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- Lead and coordinate all aspects of Commercial Large Group Rate Review process for the New England market
- Collaborate with the Region President, Sales, Finance, Underwriting, Network, Contracting and Product to develop market-specific growth and margin strategies while maintaining enterprise alignment
- Ensure compliance of actuarial function with state and federal regulation, including oversight of Large Group Rate Filings as applicable
- Proactively monitor financial performance and provide observations and guidance to market partners
- Active stakeholder in Forecasting and Budget discussions
- Takes accountability to ensure market specific requests and deliverables are met in a timely and responsive manner
- Work closely with counterparts on the broader Northeast team to ensure consistent support of all Northeast markets
- Cultivate continuous improvement to drive accuracy and innovation
- Delegate tasks as appropriate to Northeast team members to help develop talent and foster growth
- Create and support tools used to monitor Aetna's rate position in all national markets along multiple facets including business segment, geography, product, funding-type, and rating methodology
- Seek out new data sources and innovate new methods of gathering competitive intelligence to benefit Large Group segment's growth and margin strategies
- Coordinate joint projects and foster relationships with Data Science teams to extract insights from new and existing processes and other data sources
- In conjunction with Underwriting, Finance, and other stakeholders devise, implement and monitor new strategies based on information gleaned from competitive intelligence
- Become a subject matter expert in competitive intelligence tools and dashboards, reviewing data and insights with leaders in Underwriting and Actuarial
- Supply national and regional competitive intelligence to functional rate review team to aid in decision-making process on key actuarial assumptions, including trend, pooling charges, and administrative expenses
- Seek out improvements in existing competitive intelligences process that improve accuracy and efficiency
- Demonstrate understanding of complex actuarial functions as well as the market specific dynamics including the competitive landscape
- Build and facilitate creation of initiatives to drive down cost structure
- Take full ownership of complex assignments and act as the trusted lead for the market
- Communicate actuarial findings to business partners
- Anticipate the market's needs and be able to influence and further recommend course of action as you see fit
- Demonstrate leadership that fosters and supports a strong team of individual contributors
- Support actuarial and underwriting functions by applying quantitative skills and analytical methods
- Bachelor's degree along with 5+ years of experience
- ASA (Associate of the Society of Actuaries) designation or FSA
- Must have MAAA
- Strong technical, analytical, and financial skills
- Excellent verbal and written communication skills
- FSA (Fellow of the Society of Actuaries) or actively working towards FSA designation
- Ability to thrive in a constantly evolving environment with competing priorities and deadlines
- Collaborate with key stakeholders to formulate recommendations and course of actions
- Bachelor's degree
The typical pay range for this role is:$118,450.00 - $260,590.00
This 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. This position also includes an award target in the company's equity award program.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.