Teacher Retirement System of Texas Health Care Actuary in Austin, Texas
The Health Care Actuary performs highly complex to advanced actuarial work. Work involves coordinating with the TRS contract actuary; researching health care data and performing actuarial analysis; analyzing and reporting on financial information; and program administration activities. Works under limited to minimal supervision with considerable to extensive latitude for initiative and independent judgment. May train or oversee the work of others. This position reports to the Manager of HIB Informatics and Communications.
This position will be filled at one of two levels (Actuary III or Actuary IV) depending upon the qualifications of the individual selected and the discretion of the hiring manager. Salary is commensurate with experience.
State classification: (2804/Actuary III/B25/Exempt) or (2805/Actuary IV/B27/Exempt)
Who We Are One of Austin's Top Workplaces and a destination employer! The Teacher Retirement System of Texas (TRS) is truly a great place to work. We are the largest public retirement system in Texas in both membership and assets, and have been serving the retirement needs of Texas public education employees for more than 75 years. The system is responsible for investing funds under its stewardship and for delivering benefits to members as authorized by the Texas Legislature. TRS ranks as the sixth largest in U.S. public pension plans and in the top 25 in the world. The Health and Insurance Benefits Department works with outside contracted vendors to administer the health care plans offered under the TRS-Care and TRS-ActiveCare plans. HIB also supports the Long Term Care Insurance program for active members and retirees. The HIB team has a strong customer service interest in supporting TRS members and retirees with their health and insurance benefits needs.
ESSENTIAL JOB FUNCTIONS AND RESPONSIBILITIES
Data and Actuarial Analysis
- Coordinates with TRS health care contract actuary.
- Assist in developing rates for self-funded plans along with contribution strategies.
- Assesses impact of plan design and benefit changes on enrollment, utilization, and health care costs.
- Assists with preparing statutory and legislative reports related to health care benefit programs.
- Develops data for reporting and analysis for all TRS health benefit programs.
- Analyzes data to identify emerging trends.
- Researches benefit costs and suggest ways of controlling health care spending.
- Develops reports to help monitor the status of Accountable Care Organizations, value-based arrangements and other TRS initiatives.
Reviews actuarial work performed by others. (Actuary IV) Financial Analysis and Reporting
Reviews and analyzes statistical and financial reports, including reports reflecting vendor credits, rebates and refunds expected and received; and reports monitoring the financial status of TRS-Care and TRS-ActiveCare.
- Prepares rate spreadsheets, system text files and system load updates.
- Coordinates with TRS health care contract actuary to develop fund balance projections for TRS-Care and TRS-ActiveCare.
Develops financial models to evaluate the value of proposals for TRS-Care and TRS-ActiveCare services. Program Administration
Researches business applications, methods and practices that may be applicable to TRS-Care and TRS-ActiveCare and develops recommendations for division use.
- Reviews federal and state legislation for applicability to and impact on TRS benefit programs.
- Develops and implements techniques for monitoring and evaluating programs.
- Assists in the implementation of new technologies to enhance TRS policies and procedures with respect to benefit purchasing, implementation and administration.
- Assists in preparation, development, review and/or revision of legislation.
- May prepare professional papers and reports.
- Provides training for HIB and other agency staff, and serves as a technical resource regarding actuarial and other data analysis.
- Leads or participates on special projects, task forces, and committees.
- Performs related work as assigned. MINIMUM QUALIFICATION REQUIREMENTS/LICENSES AND CERTIFICATIONS
- Bachelor's degree from an accredited college or university.
Actuary III Minimum Experience:
- Five (5) years of actuary, accounting, finance, research, health care industry or other directly related experience.
- One (1) year of experience in actuarial analysis.
Experience may be concurrent. Registration, Certification, or Licensure:
Completion of actuary exams P and FM.
Actuary IV Minimum Experience:
- Six (6) years of actuary, accounting, finance, research, health care industry or other directly related experience.
- Two (2) years of experience in actuarial analysis.
Experience may be concurrent. Registration, Certification, or Licensure:
Completion of at least four (4) actuary exams, including P and FM.
- Advanced degree in actuarial science, accounting, finance, mathematics, statistics, economics, or a related field.
- Attainment of or continued progress towards a designation of Associate of the Society of Actuaries.
- Experience in using statistical software, tools, and databases.
- Experience in the healthcare industry, insurance industry or employee benefits administration, especially with large group plans. Veterans / Military Crosswalk:
TRS is committed to maintaining a veteran-friendly workplace and attracting, developing and retaining military service members as employees. To assist in determining whether your military experience may relate to the minimum qualifications for this position, Military Occupational Specialty (MOS) codes from each branch of the armed forces have been assigned to each state classification title where applicable.
Depending upon actual duties, the following fields may pertain to the minimum qualifications of this position. Candidates who meet the minimum qualifications for this position are highly encouraged to apply.
- No military equivalent. Please contact the TRS Human Resources Department or the TRS Veterans Liaison with questions or for additional information.
Additional Military Crosswalk information can be found at: http://www.hr.sao.state.tx.us/Compensation/JobDescriptions.aspx KNOWLEDGE SKILLS AND ABILITIES/PHYSICAL REQUIREMENTS
- Principles, practices, and techniques associated with actuarial services and health insurance administration, including actuarial formulas, methods, and procedures.
TRS health care related laws, regulations, policies, procedures, processes, and systems. Skill in:
Applying actuarial principles and techniques and in the use of actuarial computer applications.
- Managing projects, including planning, organizing, and prioritizing work assignments to manage a high-volume workload in a fast-paced and changing environment.
- Meeting frequent and multiple deadlines, manage conflicting priorities and demands, and adapt to changes in schedules and assignments.
- Researching, compiling and analyzing complex health care related data.
- Thinking critically, analyzing problems, evaluating alternatives, and recommending effective solutions.
- Completing detailed work with a high degree of accuracy.
- Written and verbal communications, including drafting and delivering complex correspondence, reports, presentations, and proposals.
Utilizing a personal computer and various business software programs including Microsoft Word, Excel, and Outlook; including using spreadsheets for data analysis and presentation. Ability to:
Establish and maintain harmonious working relationships with co-workers, agency staff, and external contacts.
Work effectively in a professional team environment. Physical Requirements and/or Working Conditions
Work is performed in a standard office environment and requires:
- normal cognitive abilities including the ability to learn, recall, and apply certain practices and policies;
- marginal or corrected visual and auditory requirements;
- constant use of personal computers, copiers, printers, and telephones;
- the ability to move about the office to access file cabinets and office machinery;
- frequent sitting and/or remaining in a stationary position; and
the ability to work under deadlines, as a team member, and in direct contact with others. Workforce Expectations Must be able to:
regularly, reliably, and punctually attend work;
- work extended hours as necessary;
- travel occasionally for work assignments and trainings;
- show flexibility and adaptability toward changes in assignments and work schedules;
- adhere to the agency's internal management policies and procedures; and
- exhibit work behaviors consistent with agency core values.
Salary: $5,258.66 - $10,761.41 Monthly
Location: Austin, TX
Job Type: Full-Time
Department: Health & Insurance Benefits
Job Number: 18-000075
Closing: 4/13/2018 5:00 PM Central
Agency: Teacher Retirement System of Texas
Address: 1000 Red River Street Austin, Texas, 78701