Actuarial/Financial Analyst or Senior Actuarial/Financial Analyst*
*Position title will be determined based on qualifications and experience.
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.
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 relevant experience. Membership in the Society of Actuaries a plus. (Note: A bachelor’s degree in actuarial science, economics, finance, business administration, mathematics/statistics, public administration, or a related discipline, and three years of 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. Membership in the Society of Actuaries a plus. (Note: A bachelor’s degree, in actuarial science, economics, finance, business administration, mathematics/statistics, public administration, or a related discipline, and seven years of 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.
Compensation and Benefits
Salary is commensurate with qualifications and experience. Full benefit package and tuition remission included.
While this position is onsite at The Hilltop Institute’s offices located on the UMBC campus, options for part-time telework/remote work are available.
Resumes will be accepted until the position is filled. Send a cover letter (indicating Job #493631), resume, and contact information for three professional references (in three separate attachments) to the Actuarial/Financial Analyst Search Committee at:
firstname.lastname@example.org (MS Word or PDF attachments required)
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 in the U.S.
UMBC is an affirmative action/equal opportunity employer.
February 22, 2022