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Product Performance Director, Medicare Advantage Job# 2801 Location: NE Education Requirements: Degree preferred. Other Requirements: Include:
FSA, plus a thorough actuarial background.
Ability to incorporate actuarial expertise with the creativity necessary to effectively design and critique new products.
Knowledge of insurance products, pricing and marketing philosophies and objectives, risk management, and a broad background in the operations of insurance companies.
Leadership, communication and human relations skills.
Creativity, awareness of emerging environmental and industry trends, and strong problem-solving abilities using business-oriented solutions.
Medicare Advantage and Prescription Drug Plan (PDP)) experience preferred.
Salary Range: $132k to $200k Description: This individual manages activities to ensure the efficient, effective development of adequate Medicare Advantage and Prescription Drug Plan insurance product rates for company marketing and service efforts. Also completes various reporting, projection and planning functions. Duties and responsibilities include:
Plans, staffs, directs and controls department activities, including all personnel management functions such as budgeting for and controlling expenses, long and short range planning, interviewing and selecting applicants, training and development, work direction, appraising performance, administering salaries, transfers and promotions, and ensuring compliance with Corporate Affirmative Action guidelines.
Identifies and investigates profit and financial problems and opportunities as they relate to assigned product lines of the Companies to contribute to achievement of risk adjusted revenue and product line profitability goals with minimum adverse effect on third parties.
Develops actuarial assumptions while valuing or projecting various product lines. May have an opportunity to assist in designing and developing new products for assigned product line that satisfy marketing objectives and are actuarially sound to support short and long-term profit objectives of the Company.
Directs monitoring and financial analysis of product line profitability (GAAP, value-added, statutory, etc.) because of the implementation of product pricing strategies for assigned product lines.
Monitors, facilitates and controls corrective actions with respect to experience loss ratios for product lines to contribute to achievement of revenue and product line profitability goals with minimum adverse effect on agents and policyholders.
Provides actuarial support to the product lines and continually assess product line ability as they respond to new challenges brought about by a new pending regulatory environment, including state and federal reform.
Remains current on new insurance products, procedures and regulatory reforms by actively participating in industry professional groups and various Company and state-sponsored committees.
Risk Management; Identifies and assesses risk in actuarial responsibilities. Complies with actuarial standards of practice, precepts and enterprise risk management responsibilities. Supports enterprise wide risk management initiatives.