The Sr Actuarial Associate independently performs moderately complex actuarial analyses that inform pricing, forecasting, valuation, and risk management decisions. This role applies established actuarial expertise to develop assumptions, evaluate trends, and produce insights that support business performance. Operating with solid professional judgment, the Sr Actuarial Associate explains results to stakeholders and resolves analytical issues. The position contributes to process improvement efforts and serves as a resource for less experienced analysts.
Key Accountabilities- Perform Actuarial Analyses & Forecasting
- Conduct experience studies, reserve analyses, and projections using sound actuarial methods
- Develop and refine assumptions based on historical data and emerging trends
- Prepare actuarial financial evaluations with clear documentation and defensible methodologies
- Produce forecasts independently, highlighting risks and uncertainties
- Support Pricing, Rate Development, & Monitoring
- Review quarterly financial reporting for accuracy and reasonability
- Develop pricing analyses and rate indications aligned with financial and regulatory requirements
- Prepare and interpret monitoring reports that assess pricing performance
- Analyze drivers of variance and communicate findings to team members
- Recommend data-supported adjustments based on observed experience
- Develop & Enhance Actuarial Models & Tools
- Build and enhance models using SQL, R, Python, or similar tools
- Perform validation testing to ensure model reliability and robustness
- Improve automation and efficiencies in recurring actuarial processes
- Maintain clear documentation of model logic, assumptions, and limitations
- Assess Risk & Future Event Impacts
- Evaluate utilization, cost, and market risks using scenario and sensitivity analysis
- Quantify financial impacts of proposed changes or emerging trends
- Summarize results in clear narratives and visualizations
- Collaborate with senior actuaries to refine risk assessments
- Collaborate & Provide Actuarial Insight
- Explain actuarial results and methodologies to cross-functional partners
- Support projects by translating actuarial findings into business implications
- Mentor Actuarial Analyst I staff on methods and tools
- Contribute ideas to strengthen analytical quality and workflow efficiency
Required Qualifications- Bachelor's degree or equivalent experience in a related field
- 5+ years of work experience beyond degree
- Strong written and communication skills
- Database experience - SQL, SAS, R, Python
Required Certifications/Licensure- Associate of the Society of Actuaries (ASA) or near-ASA with additional years of experience
This position is an Office role, which requires an employee to work onsite at our Minnetonka, MN office, on average, 3 days per week.
The full salary grade for this position is $88,800 - $152,300. While the full salary grade is provided, the typical hiring salary range for this role is expected to be between $88,800 - $133,245. Annual salary range placement will depend on a variety of factors including, but not limited to, education, work experience, applicable certifications and/or licensure, the position's scope and responsibility, internal pay equity and external market salary data. In addition to compensation, Medica offers a generous total rewards package that includes competitive medical, dental, vision, PTO, Holidays, paid volunteer time off, 401K contributions, caregiver services and many other benefits to support our employees.
The compensation and benefits information is provided as of the date of this posting. Medica's compensation and benefits are subject to change at any time, with or without notice, subject to applicable law.
Eligibility to work in the US: Medica does not offer work visa sponsorship for this role. All candidates must be legally authorized to work in the United States at the time of application. Employment is contingent on verification of identity and eligibility to work in the United States.
