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Director - Actuarial Services

Date: Nov 13, 2018

Location: Mason, OH, US, 45040

Company: Luxottica Group

Requisition ID: 86789 
Position:Full-Time

 

There’s more to EyeMed than meets the eye. EyeMed is the fastest growing managed vision benefits company in the country with consistent double-digit membership growth! Through our commitment to innovation, we’re reimagining the way employers and their employees think about vision care. We want them to see life to the fullest and experience more of what’s best, not more of the same.  And if what’s best hasn’t been done yet, it’s our exceptional and passionate employees driving this change. But, our passion for vision isn’t just about vision insurance benefits. Our employees are proud to support and participate in life-altering global and local missions through our partnership with OneSight, a leading not-for-profit organization with a 100% focus on eradicating the world’s vision crisis.

 

Your family says a lot about who you are. EyeMed is a key member of the Luxottica family of companies, global leaders in the design, manufacture and distribution of fashion, luxury and sports eyewear.  In North America, Luxottica is the home to global brands Ray-Ban, Oakley and many top fashion house brands.  Our leading retail brands include LensCrafters, Sunglass Hut, Pearle Vision, Target Optical and Sears Optical.

 

If you’re passionate about driving innovation and change and interested in a career in the optical and insurance industry, EyeMed wants to start the conversation and help provide you a growth-focused opportunity with America’s fastest growing vision benefits company.

GENERAL FUNCTION

The Director- Actuarial Services is responsible for managing and monitoring financial risks within EyeMed. This role will act as the primary financial contact for areas including policy guidance, risk assessment, IBNR reserves, design framework, and long-term profitability.  This role will lead the development and implementation of the appropriate pricing framework, align strategies to organizational objectives, and will lead all actuarial based activities for the organization.  The role is a strategic advisor to the business, tasked with bringing financial discipline to the organization while supporting membership growth and profitability targets. 

 

MAJOR DUTIES AND RESPONSIBILITIES

  • Provide design and oversight of complex actuarial specifically related to analyzing and implementing changes that impact pricing and risk assumptions of vision care products
  • Ascertain premium rates required, cash reserves and liabilities necessary to ensure payment of future benefits.
  • Define the IBNR (Incurred But Not Received) reserves methodologies and oversee the quarterly and monthly reserves calculation.
  • Oversee the development of actuarial pricing models and assumptions.
  • Collaborate with underwriters, sales & account leaders, claims experts, and senior management to help develop plans for new lines of business or improving existing business.
  • Determine the impact of various actions on premiums, operations and new product development
  • Support the determination of EyeMed policy, and explain complex technical matters to senior leaders, government officials, shareholders, policyholders, and/or the public.
  • Determine policy contract provisions for each type of insurance product
  • Provide direction for the development of competitive analysis
  • Main point of contact for internal partners / 3rd party actuarial resources
  • Analyze forecasts and trends that could affect pricing strategies, product development, reserves requirements.
  • Identify and resolve technical, operational and organizational problems  

 

BASIC QUALIFICATIONS

  • Bachelor’s Degree in Mathematics, Statistics, Actuarial Science, Finance or related field
  • ASA (Associate of the Society of Actuaries) or FSA (Fellow of the Society of Actuaries) associate actuary designation
  • At least 10 years’ of experience in financial roles
  • At least 5 years’ of actuarial experience ideally in health care or health insurance
  • Pursues Continuing Education for the Actuary profession
  • Excellent verbal and written communication skills
  • Strategic thinking and analytical ability with all respects to financial analysis
  • Possesses a strong attention to detail, able to recognize missing or inaccurate information
  • Extensive experience with database/reporting/statistical packages including work with large, complex databases and process automation

 

PREFERRED QUALIFICATIONS

  • Extensive experience in the insurance industry
  • Extensive knowledge of concepts and methodologies in healthcare industry
  • Demonstrates and applies financial concepts with a complete and thorough understanding of EyeMed products, associated benefits, reimbursements, and related financial reporting

 

Upon request and consistent with applicable laws, Luxottica will provide reasonable accommodations to individuals with disabilities who need assistance in the application and hiring process. To request a reasonable accommodation, please contact Talent Luxottica at  877-589-8253 (513-765-2256 outside of US) or email TalentLuxottica@luxotticaretail.com

We are an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity or expression, citizenship, veteran or military status, marital status, pregnancy (including unlawful discrimination on the basis of a legally protected pregnancy or maternity leave), genetic information or any other characteristics protected by law.

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