Actuarial/Financial Analyst or Senior Actuarial/Financial Analyst
University of Maryland, Baltimore County
Internal Number: 493631
The Hilltop Institute
The Hilltop Institute at the University of Maryland, Baltimore County (UMBC) is seeking an Actuarial/Financial Analyst or Senior Actuarial/Financial Analyst to join its Rate Setting and Financial Analysis team. Hilltop conducts research, policy and financial analysis to support health care financing and delivery system reform in Maryland and other states. With access to an extensive onsite data repository that includes Medicaid and Medicare administrative data, hospital discharge data and financial data for insurers and providers participating in publicly funded health care programs in Maryland, Hilltop conducts financial and actuarial analysis and modeling to inform payment strategies and rate development for both fee-for-service and capitated health care programs. Widely recognized for its expertise in Medicaid, Hilltop is at the forefront of national efforts to find data-driven solutions to complex problems facing state policymakers as publicly funded health care systems transition to new models that reward quality and value over volume.
The incumbent will apply knowledge of statistics and economics and principles of finance and actuarial science to contribute to efforts to estimate, model and evaluate the impact of federal and state policies on eligibility, service utilization and costs of publicly funded health programs. The incumbent will also develop fee-for-service and capitated payment rates for special programs, populations and provider groups, including: HealthChoice, Maryland’s $7 billion Medicaid managed care program that serves 1.6 million Marylanders; Medicaid home and community-based services (HCBS) waiver programs for older adults and individuals with physical and developmental/intellectual disabilities; the Developmental Disabilities Administration (DDA); the Program of All-inclusive Care for the Elderly (PACE); and those designated by the Affordable Care Act (ACA). Tasks include:
Develop templates for cost reporting by health plans and providers; collect, audit and analyze cost reports.
Monitor and forecast trends in eligibility, enrollment, service utilization and costs for new and existing health care programs, including use of Monte Carlo simulations, and evaluate the impacts of federal and state legislation and benefit changes.
Analyze national and regional trends in provider payment rates and estimate budgetary impact of provider rate increases.
Assess the financial health of insurers using financial statements and measurements such as risk-based capital (RBC).
Develop, implement and monitor new provider payment models for Medicaid that incentivize desired provider behaviors and promote equity and cost-effectiveness.
Develop strategies for risk mitigation for public and private purchasers using tools such as risk corridors, risk adjustment and reinsurance.
Keep abreast of state and federal regulatory requirements and guidance on Medicaid payment, reimbursement and managed care policies; communicate relevant changes.
Prepare issue briefs and reports and deliver briefings to stakeholders and policymakers.
Perform other duties as assigned.
Required Minimum Qualifications:
Requires an MBA or other Master’s Degree with a concentration in Actuarial Science, Economics, Finance, Mathematics, Statistics, Public Administration or a related discipline, and one year of related experience (Note: A Bachelor’s Degree in Actuarial Science, Economics, Finance, Business Administration, Mathematics, Statistics, Public Administration or a related discipline, and three years of related experience may be substituted for the Master’s Degree and required experience).
Senior Actuarial/Financial Analyst
Requires an MBA or other Master’s Degree with a concentration in Actuarial Science, Economics, Finance, Mathematics, Statistics, Public Administration or a related discipline, and five years of relevant experience (Note: A Bachelor’s Degree in Actuarial Science, Economics, Finance, Business Administration, Mathematics, Statistics, Public Administration or a related discipline, and seven years of related experience may be substituted for the Master’s Degree and required experience).
Hilltop is seeking these competencies in the successful candidate:
Proven track record in applying statistics and economics and principles of finance, business and actuarial science to develop and evaluate payment strategies for health plans and providers
Experience with rate setting and provider reimbursement regulations and methodologies for publicly funded health insurance programs
Experience in conducting research and quantitative analysis using large administrative data sets
The ability to lead cross-disciplinary project teams, manage work plans and budgets and take responsibility for deliverables
The ability to effectively communicate verbally and in writing
Demonstrated proficiency in Microsoft Word, PowerPoint and Excel, including pivot tables, statistical analysis, database management and report formatting
Actuarial certification and knowledge of SAS is a plus
Membership in the Society of Actuaries a plus
Special Instructions to Applicants:
Upload a cover letter, resume and contact information for three professional references.
Screening of Applications Begins:
For best consideration submit application materials by March 18, 2022 (applications will be accepted until the position is filled).
Salary is commensurate with qualifications and experience.
NOTE: THIS POSITION IS GRANT-FUNDED, WHEREIN EMPLOYMENT IS CONTINGENT UPON THE RENEWAL OF THE GRANT
UMBC offers a benefits package for regular and grant-funded regular employees including generous leave, excellent health, life, and disability insurance, retirement plans, tuition remission, on-site preschool, and numerous professional development and wellness opportunities. Contingent II positions may include some benefits.
Please note the Type and FLSA Status above to determine the benefits offered for this position.
Equal Opportunity Statement:
UMBC is an Affirmative Action/Equal Opportunity Employer. Applications from women, minority group members, veterans and individuals with disabilities are encouraged to apply.
If you require a reasonable accommodation for a disability for any part of the employment process, please contact the Human Resources Department at 410-455-2337 or MD TTY Relay Service 1-800-735-2258 between 8:30 a.m. and 4:00 p.m. Monday through Friday.
As required by the 1986 Immigration Act, be prepared to present acceptable documentation upon hire showing your identity and that you are a U.S. citizen or an alien who is authorized to work.
UMBC is a dynamic public research university integrating teaching, research and service to benefit the citizens of Maryland. As an Honors University, the campus offers academically talented students a strong undergraduate liberal arts foundation that prepares them for graduate and professional study, entry into the workforce, and community service and leadership. UMBC emphasizes science, engineering, information technology, human services and public policy at the graduate level. UMBC contributes to the economic development of the State and the region through entrepreneurial initiatives, workforce training, K-16 partnerships, and technology commercialization in collaboration with public agencies and the corporate community. UMBC is dedicated to cultural and ethnic diversity, social responsibility and lifelong learning.