Description
Sr. Principal, Group Actuarial
NRECA | Arlington, VA
Join NRECA’s Actuarial Department as the senior actuarial leader supporting health and welfare benefit plans in a missiondriven organization known for delivering meaningful member benefits and offering exceptional employee rewards, including a pension, matching 401(k), generous PTO, and hybrid flexibility.
About NRECA
NRECA is a unique national trade association providing advocacy, financial services and business support services to over 900 consumer owned electric cooperatives across the country. NRECA employees are united by our mission, inclusive culture, collaborative workplace and commitment to service excellence. As a “best place to work” employer, we operate with integrity, transparency and a spirit of innovation.
About Insurance and Financial Services
Are you ready to be part of a dynamic, inclusive, and mission-driven insurance and financial services team? At NRECA, we cultivate and reward a commitment to delivering service excellence to our members every day. Our culture emphasizes a strong sense of diversity, belonging, and integrity, driven by our core values of collaboration, communication, creative problem solving, and accountability. The work we do to develop and administer industry-leading employee benefit plans and services is diverse and intellectually challenging, and the results help improve the quality of life for hard working Americans across the country. If you are motivated by mission and values, as well as competitive pay and outstanding benefits, then this is the place for you.
About NRECA’s Group Benefit Program (GBP)
The GBP is a multiple employer plan organized and administered in accordance with the Employee Retirement Income Security Act of 1974 (ERISA). As a group health plan, the GBP is regulated as a covered entity under the Health Insurance Portability and Accountability Act of 1996 (HIPAA).
The GBP provides benefits including medical, pharmacy, dental, vision, disability, life, accidental death and dismemberment (AD&D) and business travel accident insurance to member cooperative employees and their eligible dependents. GBP is self-insured for the medical, pharmacy, dental, vision, and short-term and long-term disability plans. The life, AD&D and business travel accident plans are insured with third party insurance companies. The GBP is funded by a voluntary employee beneficiary association (VEBA) that is exempt from income tax under IRC Section 501(c)(9).
NRECA provides a bundled, full-service administration experience for both participating employers (“co-op”) and their employees and eligible dependents. NRECA exists for the sole purpose of serving the needs of rural electric cooperatives and offering benefit programs designed to address the unique needs of its eligible member cooperatives. Each co-op receives the same full access to our services with multiple member forums to provide input into NRECA’s operations and benefit plan offerings.
About NRECA’s Group Actuarial
Our actuarial team is deeply committed to the members we serve. We partner with leading external actuaries and consultants to deliver agile, high-quality actuarial support and comprehensive group benefit solutions.
Job Summary
Leads and manages the actuarial work supporting NRECA’s health and welfare benefit plans, working closely with other internal teams and NRECA’s outside actuarial consulting partners. Serves as the organization’s internal actuarial subject matter expert, ensuring actuarial processes, standards, methodologies, and tools align with NRECA’s member-focused approach.
Key Responsibilities
- Directs and reviews actuarial analyses for group benefit products; perform hands-on analyses as needed, including pricing, reserving, experience monitoring, risk assessment, and actuarial reporting.
- Leads the development of actuarial reporting and analysis, including reserve setting, experience studies, and management reporting.
- Provides hands-on leadership of actuarial projects, including review of work performed by our underwriting team and external actuaries.
- Coordinates actuarial activities across internal teams, external partners, and key stakeholders, providing consultative support across the organization.
- Monitors for changes in product design, demographics, legislation, market dynamics, actuarial standards, etc. and to determine the impact on the benefit plans and actuarial function.
- Addresses adverse impacts, performs analysis and modeling required by other teams, and advises leadership and management regarding the plans.
- This job is eligible for NRECA’s hybrid work schedule, offering flexibility to work from home up to two days per week.
Requirements
Education and Experience Requirements
- Bachelor’s degree in mathematics, actuarial science, or equivalent education and experience.
- Associate or Fellow of the Society of Actuaries.
- 15+ years as a healthcare actuary performing actuarial analysis for all major types of group health and welfare benefit plans (medical & prescription drug programs required; dental, vision, life, LTD/STD, preferred)
- Experience managing the broad range of activities required for comprehensive actuarial support (pricing, reserving, and experience analysis) of such offerings.
Knowledge, Skills, and Abilities (as demonstrated by prior work experience)
- Strong knowledge of actuarial principles and standards related to group health and welfare pricing, reserving, trend analysis, and risk assessment.
- Knowledge and understanding of end-to-end actuarial operations supporting group benefit products.
- High level of experience in using Excel for group benefit actuarial analysis and premium development
- Ability to manage complex workloads, competing deadlines, and highly visible initiatives.
- Proven ability to collaborate and influence across all organizational levels.
- Ability to present complex actuarial and financial concepts clearly and concisely.
- Ability to report to the office when required.
Essential Physical Requirements
- Primarily sedentary work with extended periods of sitting.
- Close visual acuity for computer work and data analysis.
- Manual dexterity for frequent keyboard use.
- Occasional light lifting (up to 10 lbs.).
- Effective communication in person, by phone, and via email.
