This position will work with assigned business units and Finance to deliver profitable growth of the business line through retention of existing relationships, new customer acquisition, and product innovation. The role leads a staff that manages the entire underwriting process for prospective clients and new customer acquisitions.
- Analyze claims data and develop cost-of-care projections for existing customer renewals and new business opportunities.
- Interact with clients as needed to resolve differences in projections are 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
- Reviews utilization, cost trends, and other assumptions that are used in pricing models.
- Evaluate cost impact of new product initiatives and proposes rate structures to maximize profitability and ensure appropriate returns for risk.
- Ensure that appropriate underwriting policies and procedures are applied to new and existing business and that responses are timely.
- Provide recommendations on product and customer rates to senior management and coordinates approval process.
- Interact with clients and customers and internal staff to resolve issues related to information provided and Request For
- Proposal language and response expectations.
- Supports variety of projects from Business Unit and Corporate Finance.
- Manage team of pricing and reporting analysts.
- Other duties as assigned.
The job duties listed above are representative and not intended to be all-inclusive of what may be expected of an employee assigned to this job. A leader may assign additional or other duties which would align with the intent of this job, without revision to the job description.
Other Job Requirements
Responsibilities
12+ years of experience in underwriting with a 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.
General Job Information
Title
Sr Dir, Underwriting - Remote, Certified Actuary (FSA/ASA)
Grade
32
Work Experience - Required
Management/Leadership, Underwriting
Work Experience - Preferred
Education - Required
Bachelor's
Education - Preferred
Master's
License and Certifications - Required
License and Certifications - Preferred
CPA - Certified Public Accountant - EnterpriseEnterprise
Salary Range
Salary Minimum:
$127,295
Salary Maximum:
$229,105
This information reflects the anticipated base salary range for this position based on current national data. Minimums and maximums may vary based on location. Actual pay will be adjusted based on an individual's skills, experience, education, and other job-related factors permitted by law.
This position may be eligible for short-term incentives as well as a comprehensive benefits package. Magellan offers a broad range of health, life, voluntary and other benefits and perks that enhance your physical, mental, emotional and financial wellbeing.
Magellan Health, Inc. is proud to be an Equal Opportunity Employer and a Tobacco-free workplace. EOE/M/F/Vet/Disabled.
Every employee must understand, comply with and attest to the security responsibilities and security controls unique to their position; and comply with all applicable legal, regulatory, and contractual requirements and internal policies and procedures.