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Managing Actuary

Health Care Service Corporation · Chicago, IL · $102,000–$184,300 a year

Posted Sep 28, 2026 · We last checked this listing on Oct 6, 2026

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Likely interview questions for this role

Written from this job description, not a generic list. Each one notes what the interviewer is really checking.

About your past

Tell me about a model you reviewed where you found a significant error. How did you find it and what happened next?

What they are checking: Whether they review critically and handle errors openly, which is central to this role.

How do you teach a junior actuary to build a model rather than just maintain one?

What they are checking: Whether they can develop others, since the posting asks them to teach model development.

Tell me about a project you managed that relied on a non-actuarial department. How did you keep it on track?

What they are checking: Whether they can manage dependencies on teams that do not share their priorities or vocabulary.

What would you do

You have to present medical trend assumptions to leaders outside actuarial. How do you make it clear without hiding the uncertainty?

What they are checking: Whether they can communicate risk honestly to decision makers who are not actuaries.

Underwriting wants a lower rate to win a large group, and your analysis does not support it. What do you do?

What they are checking: Whether they hold an analytically sound position under business pressure while staying constructive.

About the work

Walk me through how you would build a health insurance pricing model for a new block of business.

What they are checking: Whether they can lay out base experience, trend, adjustments and credibility in a logical, defensible order.

How do you set IBNR reserves for health claims, and what makes you change your method?

What they are checking: Whether they understand completion factors and know when to override them with judgment.

Medical trend is coming in higher than what was priced. How do you investigate what is driving it?

What they are checking: Whether they can decompose trend into utilization, unit cost and mix to find the real cause.

What does your MAAA membership and the actuarial standards of practice mean for how you sign off on work?

What they are checking: Whether they take professional standards seriously and understand qualification and documentation duties.

Which actuarial area or business segment do you know most deeply, and what is something people commonly get wrong about it?

What they are checking: Whether they truly have the deep expertise in one area that the posting requires.

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The full job description

As published by Health Care Service Corporation.

At HCSC, our employees are the cornerstone of our business and the foundation to our success. We empower employees with curated development plans that foster growth and promote rewarding, fulfilling careers. Join HCSC and be part of a purpose-driven company that will invest in your professional development. Job Summary This position is responsible for managing the implementation, maintenance and critical review and analysis of models, studies and systems which use actuarial principles for the purposes of pricing, underwriting, statistics, reserving, forecasting and other actuarial functions, developing complicated models and teaching others how to develop models. Developing written and oral presentations that drive the delivery of information for decision making; and managing day-to day projects that may include non-actuarial departments. Must also possess and demonstrate a deep understanding of one actuarial area or business segment. Required Job Qualifications: * Bachelor degree in Actuarial Science, Mathematics, Statistics or Economics. Other Bachelor (or higher) Degrees may be considered. * Associate of the Society of Actuaries (ASA) and Membership in the American Academy of Actuaries (MAAA). Compliance with the membership requirements for each professional designation. * At least 4 years of actuarial experience in the health insurance or related field. * Verbal and written communications skills to prepare effective documentation, facilitate training and development, and participate in presentations. * PC proficiency to include Word and Excel. Preferred Job Qualifications: * Access, SQL, Visual Basic or other programming skills. * Medicare experience * Experience planning and building out new analytical processes * Familiarity with clinical operational data and use as leading indicators Please note that this role is HYBRID with an in-office requirement of 3 days a week and NO VISA sponsorship is available for this role. Are you being referred to one of our roles? If so, ask your connection at HCSC about our Employee Referral process! Pay Transparency Statement: At Health Care Service Corporation, you will be part of an organization committed to offering meaningful benefits to our employees to support their life outside of work. From health and wellness benefits, 401(k) savings plan, pension plan, paid time off, paid parental leave, disability insurance, supplemental life insurance, employee assistance program, paid holidays, tuition reimbursement, plus other incentives, we offer a robust total rewards package for employees. Learn more about our benefit offerings by visiting https://careers.hcsc.com/totalrewards . The compensation offered will vary depending on your job-related skills, education, knowledge, and experience. This role aligns with an annual incentive bonus plan subject to the terms and the conditions of the plan. HCSC Employment Statement: We are an Equal Opportunity Employment employer dedicated to providing a welcoming environment where the unique differences of our employees are respected and valued. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, protected veteran status, or any other legally protected characteristics. We are a drug-free and smoke-free workplace. Employment may be contingent upon successful completion of drug screening in accordance with applicable law. Base Pay Range $102,000.00 - $184,300.00 Exact compensation may vary based on skills, experience, and location.

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