Actuary

Waymark is a team of healthcare providers, technologists, and builders whose mission is to bring the best healthcare to people with Medicaid benefits.  Guided by the communities we serve, we bring support and technology-enabled care to help primary care providers keep Medicaid patients healthy.  We are building the tools and designing an approach to enable care to reach the patients who can benefit most.  

Our core values embody the essence of what makes Waymark a unique team today, and what we look for, nurture, and sustain as a team. We are bold builders, believing that the greatest challenges in care delivery can be solved when we harness the power of community and technology. We are humble learners, seeking feedback and perspectives different from our own, and welcome challenges to our conclusions. We experiment to improve, actively seeking data to inform decisions and to assess our own performance. We act with focused urgency, our commitment to our mission drives us to tirelessly pursue results.

If this vision resonates with you, we hope you consider bringing your creativity, your energy, your curiosity to Waymark.

About this role

As the second hire on the Actuarial team at Waymark, you will play a pivotal role in supporting our mission, vision, and high-growth trajectory. Reporting to the Actuarial Director and working closely with the Head of Finance, Finance, and Partnerships teams, you will help develop and maintain corporate controls and policies. Your responsibilities will include further developing and implementing performance forecasting, experience monitoring, and risk mitigation for new and existing contracts. Understanding the drivers of financial performance relative to expectations is crucial in this role.

You will be an active, hands-on contributor with direct responsibilities in reserving, total cost of care estimation, and forecasting. Given the variations in Medicaid by state, and the differences in the markets we operate in and the membership we serve, grasping regional trends and understanding the Medicaid capitation process is helpful. Additionally, healthcare data can be incomplete and inconsistent, so a thorough understanding of the data will be a foundational component of your work.

Your role will also involve learning, improving, and expanding the tools available to the actuarial team. Your efforts will help our market leads comprehend the drivers of financial performance under their contracts with payers in each market. You will collaborate with members of the Finance group and Analytics Team to interpret emerging claims and revenue experiences and to forecast changes in these drivers for the Waymark Care business.

Responsibilities

• Take ownership of specific components of the financial monitoring and monthly accrual development close work. 
• Develop familiarity with the existing data and IBNR tool and create additional processes for the valuation and performance of Waymark Care contracts. 
• Serve as a technical expert on the valuation and performance of data and the total cost of care components of the financial projections. 
• Support the update of financial forecasts and assist in developing and refining assumptions around the drivers of revenue and/or total cost of care. 
• Develop and refine data queries, tools, and processes within the actuarial team. 
• Actively participate and contribute to partner discussions and alignment on Waymark Care performance. 
• Regulatory Compliance: Stay informed about relevant Medicaid regulations and ensure the company's compliance with actuarial, audit, and financial reporting requirements. 
• Presentations: Communicate complex actuarial concepts and findings to non-technical stakeholders clearly and concisely. 
• Build relationships with partners in the Analytics, Partnerships, and Finance areas. Also, refine analytical exhibits used to communicate results and findings from the team to provider stakeholders. 
• Act as a strong partner for the Partnership teams and collaborate with actuarial and finance peers in partner health plans to share observations and resolve differences in assessments of Waymark’s performance.

Required Qualifications 

• Degree in quantitative field (business, economics, math, statistics). 
• 5+ years of health actuarial experience. In-depth Medicaid/Medicare Advantage (dual eligibles) expertise.
• Proven experience in medical economics analysis with strong SQL programming skills. 
• Technical proficiency in all aspects of health care actuarial practice including pricing, reserving, and data reporting.
• Ability to handle multiple projects in a fast-paced environment.
• Great communication skills.
• Humble awareness when to ask for help.

Preferred Qualifications 

• Passion for improving care for Medicaid patients
• Experience working in early-stage high-growth environments
• Enthusiasm to build, lead, and innovate

Salary Range:
US employees in New York City, Seattle, or the San Francisco Bay Area: $162,000.00 - $180,000.00 USD

US employees in Austin, Boston, Chicago, Denver, San Diego & Washington DC: $144,000.00 - $160,000.00 USD

US employees outside of the above listed US Cities: $122,000.00 - $136,000.00 USD 

Additionally, compensation will depend on other factors, training, education, and experience.

Benefits and Other Compensation: Medical, vision, dental, basic life insurance, and stock options available for the hired applicant.  Employees also receive twenty (20) vacation days, accrued over the year and eleven (11) paid holidays throughout the calendar year. Sixteen (16) weeks of parental leave for birthing parents will also be available for use after successful completion of 6 months of employment, eight (8) weeks of bonding leave for non-birthing parents.  Employees are able to enroll in our 401(k) plan and commuter benefits plan. 

COVID Vaccination: Waymark has adopted a policy on mandatory full vaccination to safeguard our employees, our partners, and the patients we serve from the hazard of COVID-19.  As a healthcare company, we believe it is important for our employees and actions to reflect the best available science and the interests of public health.  You will be asked to attest to your COVID vaccination status before an offer of employment is made.

Don’t check off every box in the requirements listed above? Please apply anyway! Studies have shown that marginalized communities - such as women, LGBTQ+ and people of color - are less likely to apply to jobs unless they meet every single qualification. Waymark is dedicated to building an inclusive, diverse, equitable, and accessible workplace that fosters a sense of belonging – so if you’re excited about this role but your past experience doesn’t align perfectly with every qualification in the job description, we encourage you to still consider submitting an application. You may be just the right candidate for this role or another one of our openings!