Senior Actuarial Associate - Medicaid

If you are a job seeker with a disability and require a reasonable accommodation to apply for one of our jobs, you will find the contact information to request the appropriate accommodation by visiting the following our Accessibility Accomodation for Applicants page.

• Posted on October 27, 2026

Showing 1 location

• On-site
• Finance
• Full-Time
• Requisition #: SENIO
  006363

Medica is a nonprofit health plan with more than a million members that serves communities in Minnesota, Nebraska, Wisconsin, Missouri, and beyond. We deliver personalized health care experiences and partner closely with providers to ensure members are genuinely cared for.

We're a team that owns our work with accountability, makes data-driven decisions, embraces continuous learning, and celebrates collaboration — because success is a team sport. It's our mission to be there in the moments that matter most for our members and employees. Join us in creating a community of connected care, where coordinated, quality service is the norm and every member feels valued.

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
• 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
• 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…