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CareSource

AVP, Actuarial Science (Medicaid)

Dayton, OH · On-site +1

$150K - $300K/yr

The AVP, Actuarial Science, is responsible for driving and supporting company strategy and managing actuarial expertise in coordination with others to ensure actuarial soundness, and to use actuarial ...

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How much do actuarial science jobs pay per year?

As of Aug 2, 2026, the average yearly pay for actuarial science in the United States is $93,525.00, according to ZipRecruiter salary data. Most workers in this role earn between $71,500.00 and $109,500.00 per year, depending on experience, location, and employer.

What are the typical career advancement opportunities in Actuarial Science?

Actuarial Science professionals often start their careers as actuarial analysts or assistants, working under experienced actuaries while passing certification exams. With additional experience and successful exam progress, they can move into roles such as Associate or Fellow actuary, eventually advancing to senior positions like actuarial manager, director, or chief actuary. Some actuaries also transition into specialized areas such as risk management, consulting, or executive leadership roles within insurance companies or financial institutions. Career growth is closely tied to gaining both technical proficiency and business acumen, so ongoing learning and collaboration with multidisciplinary teams are important.

Do actuaries make $500,000?

Actuaries can earn $500,000 or more annually, primarily at senior levels or in specialized roles within insurance, consulting, or finance firms. Achieving this salary typically requires extensive experience, professional certifications such as the ASA or FSA, and often involves leadership responsibilities or niche expertise.

What kind of jobs do actuaries have?

Actuaries work primarily in insurance companies, consulting firms, government agencies, and financial institutions. They analyze risk using mathematics, statistics, and financial theory to help organizations develop policies and set premiums. Common roles include risk analyst, pricing actuary, reserving actuary, and financial risk manager, often requiring professional certification such as the SOA or CAS.

What are the key skills and qualifications needed to thrive in the Actuarial Science position, and why are they important?

To excel in Actuarial Science, you need strong analytical and mathematical skills, typically supported by a degree in actuarial science, mathematics, statistics, or a related field. Familiarity with statistical software, spreadsheet tools like Microsoft Excel, and progress through actuarial certification exams (such as those from the SOA or CAS) are important. Strong problem-solving skills, attention to detail, and effective communication abilities help actuaries collaborate and explain complex findings. These skills are crucial for accurately assessing financial risk and conveying insights to stakeholders in insurance, finance, or consulting sectors.

Who gets paid more, actuary or CPA?

Actuaries generally have higher average salaries than CPAs, especially at senior levels, due to the specialized mathematical and statistical skills required and the demand in insurance, finance, and consulting industries. CPAs often earn competitive wages in accounting and auditing, but actuaries typically have higher earning potential with advanced certifications like the ASA or FSA and experience in risk assessment. Salary differences can vary based on location, experience, and industry, but actuaries tend to earn more overall.

What can you do with an Actuarial Science degree?

An Actuarial Science degree prepares individuals for careers as actuaries, who analyze financial risks using mathematics, statistics, and economic theory. Graduates can work in insurance, pension planning, risk management, and consulting firms, often pursuing professional certifications like the SOA or CAS to advance in the field.

What is an Actuarial Science job?

An Actuarial Science job involves using mathematics, statistics, and financial theory to assess risk and uncertainty, primarily in insurance, pensions, and financial industries. Actuaries analyze data to develop models that help businesses and organizations make informed decisions about future risks. They often work with insurance companies, consulting firms, government agencies, and financial institutions. Their expertise is crucial in determining policy pricing, managing financial risk, and ensuring regulatory compliance.

More about Actuarial Science jobs
What cities are hiring for Actuarial Science jobs? Cities with the most Actuarial Science job openings:
What are the most commonly searched types of Actuarial Science jobs? The most popular types of Actuarial Science jobs are:
What states have the most Actuarial Science jobs? States with the most job openings for Actuarial Science jobs include:
What job categories do people searching Actuarial Science jobs look for? The top searched job categories for Actuarial Science jobs are:
Actuarial Science jobs near you
Infographic showing various Actuarial Science job openings in the United States as of July 2026, with employment types broken down into 28% As Needed, 62% Full Time, 3% Part Time, and 7% Nights. Highlights an 60% Physical, 15% Hybrid, and 25% Remote job distribution, with an average salary of $93,525 per year, or $45 per hour.

AVP, Actuarial Science (Medicaid)

CareSource

Dayton, OH • On-site, Remote

$150K - $300K/yr

Full-time

Posted 23 days ago

CareSource rating

7.7

Company rating: 7.7 out of 10

Based on 28 frontline employees who took The Breakroom Quiz

201st of 301 rated insurance

Job description

Job Summary:
The AVP, Actuarial Science, is responsible for driving and supporting company strategy and managing actuarial expertise in coordination with others to ensure actuarial soundness, and to use actuarial knowledge and tools to help improve profitability of CareSource's lines of business.
Essential Functions:
  • Drive company strategy and manage actuarial expertise in coordination with other leaders on all aspects of CareSource's actuarial functions. This includes pricing, forecasting, month-end close activities, and performance monitoring and explanations. Uses actuarial knowledge and tools to help improve profitability of the business area(s) they oversee.
  • Oversee actuarial functions and assure the coordination, relevance, and performance in support of CareSource business needs
  • Hold responsibility for necessary improvements and changes to models, reports, and processes to keep pace with evolving business needs
  • Manage continual improvement of actuarial processes and make changes as needed to support the business
  • Represent Actuarial Services and CareSource in written and verbal communications, presentations and meetings with regulators, owners and other outside parties regarding matters requiring actuarial expertise
  • Support the alignment of Actuarial Services with Finance Department to assure the best possible business intelligence and understanding of company financials in communications to CareSource executive leadership
  • Support decision making and strategy regarding actuarial inputs to the monthly financial reporting process and reports, such as claim reserves/accruals, variance analysis, and actuarial contributions to executive leadership reports
  • Implement and maintain actuarial processes and controls consistent with best practices to assure accurate and timely reporting and handoff of actuarial components and inputs to financial reporting
  • Perform any other job duties as requested

Education and Experience:
  • Bachelor's degree in actuarial science, mathematics, economics or a related field is required
  • A minimum of ten (10) years of experience in the Actuarial Industry with a minimum of five (5) years of management experience is preferred
  • A minimum of five (5) years of experience for the actuarial function in Healthcare, including Medicaid, Commercial and/or Medicare Advantage business; rate negotiations, process/model/report design, state and federal reporting requirements, as well as other traditional actuarial functions
  • Managed care and state/federal government program experience preferred
  • Experience interacting with state or federal regulators, CMS or other external regulatory or auditing entities preferred
  • Experience communicating/presenting to internal senior leaders

Competencies, Knowledge and Skills:
  • Excellent strategic planning and process design skills
  • Excellent PC skills, including advanced Excel, Word and PowerPoint
  • Strong analytical skills
  • Strong problem solving and critical thinking skills
  • Ability to articulate and defend complex ideas and strategies to non-technical audiences
  • Collaborative, with the ability to effectively influence others
  • Fact-based decision maker
  • Excellent oral, written and interpersonal communication skills
  • Strong managerial and team-building skills, with proven track record of hiring and developing high performers
  • A proven track record of achievement and integrity
  • Strong grasp of business processes, operations, and other business partner competencies

Licensure and Certification:
  • Member of the American Academy of Actuaries (MAAA) and Associate or Fellow of the Society of Actuaries (ASA or FSA) is required
  • Must maintain memberships in the Society of Actuaries and the American Academy of Actuaries

Working Conditions:
  • General office environment; may be required to sit or stand for extended periods of time
  • May be required to travel less than 20% of the time

Compensation range $150,000-$300,000. CareSource takes into consideration a combination of a candidate's education, training, and experience as well as the position's scope and complexity, the discretion and latitude required for the role, and other external and internal data when establishing a salary level. In addition to base compensation, you may qualify for a bonus tied to company and individual performance. We are highly invested in every employee's total well-being and offer a substantial and comprehensive total rewards package.
Compensation Type (hourly/salary):
Salary
Organization Level Competencies
  • Fostering a Collaborative Workplace Culture
  • Cultivate Partnerships
  • Develop Self and Others
  • Drive Execution
  • Energize and Inspire the Organization
  • Influence Others
  • Pursue Personal Excellence
  • Understand the Business

This job description is not all inclusive. CareSource reserves the right to amend this job description at any time. CareSource is an Equal Opportunity Employer. We are dedicated to fostering an environment of belonging that welcomes and supports individuals of all backgrounds.
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