Senior Director, Underwriting – Certified Actuary (FSA/ASA)
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Job Description
Senior Director of Underwriting leading the underwriting process and client interactions at Magellan. Focused on profitability through data analysis, team management, and strategic recommendations.
Responsibilities:
- Work with assigned business units and Finance to deliver profitable growth of the business line
- Lead a staff managing the entire underwriting process for prospective clients
- Analyze claims data and develop cost-of-care projections for existing customer renewals and new business opportunities
- Interact with clients to resolve differences in projections and rate-setting methodology
- Incorporate administrative cost projections and business unit profit objectives to develop final rates quoted to customer
- Responsible for cost pricing, including evaluating data, building underwriting and evaluating profitability
- Complete quarterly savings reporting to current clients and provide estimated savings for prospect clients
- Review utilization, cost trends, and other assumptions used in pricing models
- Evaluate cost impact of new product initiatives and propose rate structures to maximize profitability
- Ensure appropriate underwriting policies and procedures are applied to new and existing business
- Provide recommendations on product and customer rates to senior management and coordinate approval process
- Manage team of pricing and reporting analysts.
- Support a variety of projects from Business Unit and Corporate Finance.
- Other duties as assigned.
Requirements:
- 12+ years of experience in underwriting
- Minimum of 5 years of experience in underwriting management
- Experience in leading a team of people
- Thorough knowledge of the health care and health insurance industries
- Ability to develop and document creative approaches to underwriting new products
- Experience in analysis of medical and related administrative cost data
- Strong knowledge of underwriting principles in a managed care environment
- Excellent written and communication skills
- Ability to self-start and work independently
- Good analytical, reasoning and problem-solving skills
- Strong organizational skills and must be able to adhere to strict deadlines
- Willingness to learn new product lines and adapt to changing environment
- Strong working knowledge Microsoft Office Product suite, specifically Excel
- Experience with managing large data sets with tools such as MS Access.
Benefits:
- Health, life, voluntary and other benefits and perks that enhance your physical, mental, emotional and financial wellbeing.
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