What are the responsibilities and job description for the Chief Actuary position at AMS Management Group?
Chief Actuary – Medical Liability
Location: Remote Reports To: Chief Medical Officer Department: Actuarial Employment Type: Full-Time, Executive Level
Position Overview
The Chief Actuary – Medical Liability is responsible for leading the actuarial function related to medical professional liability (MPL) insurance, including pricing, reserving, risk assessment, and financial forecasting. This executive role collaborates with senior leadership, underwriters, and finance teams to ensure financial stability and profitability while complying with regulatory requirements.
Key Responsibilities
Actuarial Leadership & Strategy
- Develop and execute actuarial strategies for medical malpractice and healthcare professional liability insurance.
- Lead the pricing and reserving processes for MPL products, ensuring adequate financial reserves.
- Oversee the development of predictive models and advanced analytics to improve underwriting and claims management.
- Provide actuarial insights to senior leadership on financial planning, risk appetite, and portfolio management.
- Ensure compliance with actuarial standards of practice, insurance regulations, and financial reporting requirements.
Reserving & Risk Management
- Establish and monitor loss reserves, ensuring adequacy and regulatory compliance.
- Conduct loss ratio projections and scenario testing to assess portfolio risk.
- Collaborate with claims and legal teams to analyze claims trends and their financial impact.
- Implement reinsurance strategies to optimize risk transfer and capital efficiency.
Pricing & Product Development
- Develop and refine pricing models for medical malpractice and healthcare liability policies.
- Utilize data-driven insights and actuarial methodologies to ensure competitive and profitable rate structures.
- Partner with underwriters to assess risk selection, coverage structures, and policy terms.
- Monitor market trends and competitor pricing to adjust strategies accordingly.
Regulatory Compliance & Financial Reporting
- Prepare actuarial reports and financial statements in accordance with regulatory and accounting requirements.
- Liaise with state insurance departments, auditors, and rating agencies on actuarial matters.
- Ensure compliance with NAIC, GAAP, IFRS, and statutory reporting requirements.
Leadership & Team Management
- Lead and mentor a team of actuaries, fostering professional development and innovation.
- Drive a culture of excellence, collaboration, and continuous learning.
- Represent the company at industry conferences, regulatory hearings, and actuarial associations.
What We Offer
- Competitive executive compensation package: salary range from $205,000 – 255,000
- Performance-based incentives
- Comprehensive benefits including health, dental, vision, and retirement plans
- Opportunities for professional development and industry leadership
- A mission-driven culture focused on protecting healthcare professionals and improving patient safety
Salary : $205,000 - $255,000