Actuarial Analyst II

Actuarial Analyst II

This role requires associates to be in-office 1 - 2 days per week, fostering collaboration and connectivity, while providing flexibility to support productivity and work-life balance. This approach combines structured office engagement with the autonomy of virtual work, promoting a dynamic and adaptable workplace. Alternate locations may be considered if candidates reside within a commuting distance from an office. Please note that per our policy on hybrid/virtual work, candidates not within a reasonable commuting distance from the posting location(s) will not be considered for employment, unless an accommodation is granted as required by law.

The Actuarial Analyst II is responsible for completing projects and performs complex actuarial studies. This role plays a key part in ensuring accurate, timely, and well-supported Medicare revenue reporting. The Actuarial Analyst II will help connect actuarial revenue analytics with financial close processes, providing critical insight into revenue performance, settlement expectations, and key drivers of financial results.

How You Will Make an Impact

• Obtains, verifies, analyzes and models data including risk reporting and forecasting.
• Support Medicare revenue Outlook processes, including the development, validation, and documentation of revenue forecasts.
• Perform month-end revenue calculations and analyses, including revenue run rate calculations, final settlement estimates, and mid-year settlement estimates.
• Prepare, review, and maintain actuarial models used to support Medicare revenue accruals, settlements, and financial reporting.
• Analyze revenue trends, membership changes, risk adjustment impacts, settlement drivers, and other key components affecting Medicare revenue.
• Partner closely with Finance and Accounting teams to support month-end close, journal entry inputs, accruals, reconciliations, and variance explanations.
• Communicate revenue results, key drivers, and emerging risks or opportunities to actuarial leadership and cross-functional stakeholders.
• Assist in the preparation of recurring financial exhibits, revenue dashboards, settlement summaries, and executive-level reporting materials.
• Research and explain actual-to-expected revenue variances, including changes related to run rate, settlement estimates, membership, risk scores, and timing differences.
• Ensure calculations are accurate, well-controlled, and appropriately documented in accordance with internal governance standards.
• Identify opportunities to improve revenue models, reporting processes, controls, documentation, and workflow efficiency.
• Support ad hoc analyses related to Medicare revenue, forecasting, settlement impacts, and financial performance.

Minimum Requirements:

Requires a BA/BS degree and to have passed a minimum of three Society of Actuaries (SOA) or Casualty Actuarial Society (CAS) actuarial exams and a minimum of 1 year related experience; or any combination of education and experience, which would provide an equivalent background.

Preferred Skills, Capabilities, and Experiences:

• SQL/Python experience preferred.
• Pricing/Valuation experience preferred.
• Risk adjustment experience preferred.

For candidates working in person or virtually in the below location(s), the salary* range for this specific position is $77,040 to $127,116.

Locations: Colorado, Virginia

In addition to your salary, Elevance Health offers benefits such as a comprehensive benefits package, incentive and recognition programs, equity stock purchase and 401k contribution (all benefits are subject to eligibility requirements). The salary offered for this specific position is based on a number of legitimate, non-discriminatory factors set by the Company. The Company is fully committed to ensuring equal pay opportunities for equal work regardless of gender, race, or any other category protected by federal, state, and local pay equity laws.

*The salary range is the range Elevance Health in good faith believes is the range of possible compensation for this role at the time of this posting. This range may be modified in the future and actual compensation may vary from posting based on geographic location, work experience, education and/or skill level. Even within the range, the actual compensation will vary depending on the above factors as well as market/business considerations. No amount is considered to be wages or compensation until such amount is earned, vested, and determinable under the terms and conditions of the applicable policies and plans. The amount and availability of any bonus, commission, benefits, paid time off, stock, or any other form of compensation and benefits that are allocable to a particular employee remains in the Company's sole discretion unless and until paid and may be modified at the Company's sole discretion, consistent with the law.