Location Address: 9521 San Mateo NE, Albuquerque, NM 87113-2237
Summary: The Chief Actuary is the senior leader responsible for actuarial services, underwriting, pricing, reserving, forecasting, and insurance risk management. This role contributes to the financial soundness of the health plan, provides strategic insight to executive leadership, and oversees all actuarial and underwriting functions supporting government and commercial lines of business. The Chief Actuary serves as the Appointed Actuary and is accountable for regulatory compliance, actuarial governance, and the development of actuarial talent.
Job Description:
Key Responsibilities:
Product and Pricing Strategy
• Oversee evaluation of capitation rate assumptions. • Partner directly with the state Medicaid agency to ensure assumptions are reasonable, risk is managed, and rates are actuarially sound. • Support rate negotiations and data submissions to the state and CMS. • Analyze the impact of risk adjustment models, acuity shifts, redeterminations and eligibility churn, directed payments and supplemental payment programs, changes in covered benefits, eligible population, and provider payment schedule changes.
• Ensure Commercial and Medicare rates balance competitiveness and adequacy, and comply with applicable regulatory standards. • Set premium rates for individual, small group, large group, and government programs (e.g., Medicare Advantage, Affordable Care Act marketplace plans). • Oversee trend analysis (medical cost inflation, utilization changes, provider contracting impacts). • Approve final rate filings submitted to state and federal regulators.
Product Development, Underwriting and Pricing
• Partner with product, underwriting, and finance teams to support new product design and market expansion. • Supervise the underwriting team. • Maintains and updates pricing models to evaluate rating impact of regulatory changes and benefit plan changes.
Financial Oversight & Forecasting
• Oversee actuarial balance sheet items: • Claims liability reserves (IBNR) estimation • Provider incentive payments or receivable • Premium deficiency reserves • Risk corridor payables/receivable • Risk adjustment revenue projections • Partner with finance team on forecasting. • Lead actuarial analytics teams. • Analyze and explain drivers of rolling trends in claims experience, provider contract performance, pharmacy costs, and population health metrics.
Regulatory & Statutory Accountability
• Sign statutory actuarial opinions. • Interface with: • State Department of Insurance • State Medicaid agency • Centers for Medicare & Medicaid Services • Oversee compliance with Medicaid managed care rate certification standards. • Ensure adherence to minimum MLR requirements. • Certify compliance with mental health parity quantitative treatment limits. • (Oversee commercial product risk adjustment submissions and validation)
Governance & Talent Leadership
• Maintain actuarial standards (e.g., compliance with the Actuarial Standards of Practice). • Recruit and develop actuarial leadership. • Maintain relationships with external auditors and consulting actuaries.
Additional Job Description:
Qualifications
• BA or BS in actuarial science, math, or og • Fellow of the Society of Actuaries (FSA) or Associate of the Society of Actuaries (ASA) required; Member of the American Academy of Actuaries (MAAA) required. • 10+ years of actuarial experience in health insurance, with significant leadership responsibility. • Extensive knowledge of and experience in Medicaid. • General knowledge and experience in Medicare Advantage, ACA, and/or commercial health markets. • Expertise in pricing, reserving, forecasting, and regulatory filings. • Strong executive communication skills and ability to influence senior leadership. • Proven ability to lead teams and manage complex, multi-stakeholder initiatives.
Preferred Attributes
• Experience in value-based care, risk adjustment, and population health analytics. • Background in enterprise risk management or capital strategy. • Ability to translate complex actuarial concepts into actionable business insights. • Strategic thinker with a bias for collaboration and innovation. • Demonstrated ability to develop practical solutions and drive outcomes.
Benefits
Benefits are effective day-one (for .45 FTE and above) and include:
• Competitive salaries • Full medical, dental, and vision insurance • Flexible spending accounts (FSAs) • Free wellness programs • Paid time off (PTO) • Retirement plans, including matching employer contributions • Continuing education and career development opportunities • Life insurance and short/long term disability programs
About Us
Presbyterian Healthcare Services is a locally owned, not-for-profit healthcare system of nine hospitals, a statewide health plan, and a growing multi-specialty medical group. Founded in New Mexico in 1908, it is the states largest private employer with approximately 11,000 employees.
Presbyterians story is really the story of the remarkable people who have chosen to work here. Starting with Reverend Cooper who began our journey in 1908, the hard work of thousands of physicians, employees, board members, and other volunteers brought Presbyterian from a tiny tuberculosis sanatorium to a statewide healthcare system, serving more than 700,000 New Mexicans.
We are part of New Mexicos history - and committed to its future. That is why we will continue to work just as hard and care just as deeply to serve New Mexico for years to come.
About New Mexico
New Mexicos unique blend of Spanish, Mexican, and Native American influences contribute to a culturally rich lifestyle. Add in Albuquerques International Balloon Fiesta, Los Alamos nuclear scientists, Roswells visitors from outer space, and Santa Fes artists, and you get an eclectic mix of people, places, and experiences that make this state great.
Cities in New Mexico are continually ranked among the nations best places to work and live by Forbes magazine, Kiplingers Personal Finance, and other corporate and government relocation managers like Worldwide ERC.
New Mexico offers endless recreational opportunities to explore, and enjoy an active lifestyle. Venture off the beaten path, challenge your body in the elements, or open yourself up to the expansive sky. From hiking, golfing, and biking to skiing, snowboarding, and boating, its all available among our beautiful wonders of the west.
AA/EOE/VET/DISABLED. PHS is a drug-free and tobacco-free employer with smoke-free campuses.