Mark Makonese
Boston,MA
Summary
Business-minded, goal-oriented, and performance-driven senior analyst with over 6 years of actuarial experience in Life and Health Insurance. Excels at managing complex research projects and developing comprehensive technical reports while working independently with excellent analytical and report-writing skills. Demonstrates a proven ability to deliver valuable insights through advanced analytics and data-driven methods. Possesses extensive expertise in predictive modeling, data visualization, and risk analysis. Holds an MS in Business Analytics, a BSc in Actuarial Science, and has passed 6 actuarial examinations with the Society of Actuaries. Currently pursuing a Doctorate in Business Administration specializing in Business Analytics and Business Intelligence.
Overview
9
9
years of professional experience
Work History
Financial Data Analyst
Evernorth Health (Member of Cigna Health) (Remote)
2023.07 - Current
- Collaborating cross-functionally to develop and implement Actuarial Pricing models and strategies, ensuring competitiveness and profitability, while rigorously assessing the impact of pricing assumption changes through sophisticated financial modeling
- Driving innovation by refining Excel methodologies and transitioning spreadsheet calculations into scripts integrated into a cloud-based calculation engine, to adapt to the evolving needs and complexities of health insurance actuarial practices
- Automating regression models in Excel using VBA to generate detailed reports, pulling Pharmacy data from various sources like Hadoop, DB Visualizer, and Teradata, and conducting extensive data mining for insights
- Conducting monthly actuarial reporting, variance analysis, trend analysis, and assessing the impact of regulatory changes.
Actuarial Analyst
InterWell Health (Remote)
2021.09 - 2023.06
- Developed SAS programs to extract data and create analysis-ready datasets for actuarial analysis, for Medical Advantage patients, reducing data preparation time by 25%
- Utilized SAS and SQL queries to analyze medical cost, utilization, and other drivers, providing insightful commentary and sensitivity modeling to optimize Medicare Advantage offerings
- This improved analysis process saved 20% of analytical time
- Analyzed financial performance metrics, including Medical Loss Ratio (MLR), for Medicare Advantage and Commercial plans to inform strategic decisions
- Conducted ad hoc pricing sensitivity and Month-End Close (MEC) claim analysis for contract management, focusing on Medicare Advantage and Commercial products
- Built predictive models to identify Complex Care Management patients among CKD members enrolled in Medicare Advantage plans
- This predictive modeling reduced identification time by 40%, enabling timely intervention and care management.
Pricing Analyst
BURNDY (Hubbell Inc.)
2021.05 - 2021.10
- Created project and blanket quotes in SAP for corporate clients across all states, streamlining the quoting process and reducing quote preparation time by 20%, which improved client satisfaction and increased quote conversion rates by 15%.
- Extracted data with pricing history from SAP and conducted pricing analysis to come up with future prudent pricing leading to a 15% reduction in pricing errors and a 10% increase in profitability through more accurate and competitive pricing strategies.
- Performed analytics on pricing data from Power BI using advanced Excel techniques, improving data analysis efficiency by 25% and enhancing pricing models, resulting in a 12% increase in sales for high-value corporate clients.
- Designed interactive dashboards in Tableau, visualizing quote usage and identifying high-usage areas, which enabled data-driven decision-making and resulted in targeted marketing strategies that increased sales by 20%.
Actuarial Analyst
Insurance & Pensions Commission (IPEC)
2018.09 - 2020.01
- Developed stochastic forward-looking models to assess the solvency and financial soundness of domestic insurers, including reviewing reserves and performing risk-based capital calculations, ensuring compliance with regulatory standards
- Utilized actuarial risk management techniques, such as loss financing, to maintain steady growth within the insurance industry, resulting in a 17.5% reduction in the annual cost of risk management for the insurance regulator through improved automated processes
- Created actuarial financial models in R for industry reports, ensuring capital adequacy and reducing insolvency rates by 15% through comprehensive summaries of financial performance, asset allocation, and solvency ratios for parliamentary review
- Led a team of analysts to develop risk management models, improving risk mitigation strategies and regulatory compliance through actuarial analysis and strategic insights.
Actuarial Assistant
Old Mutual Life Assurance
2015.09 - 2018.08
- Developed and updated pricing models using actuarial techniques and machine learning in SAS for precise life insurance rate computations and error analysis, resulting in a 15% increase in annual product revenue through more competitive pricing
- Led actuarial expense investigations to analyze and optimize annual expenses across the life insurance department, reducing administrative costs by 18% through the identification and elimination of inefficiencies
- Designed actuarial data visualizations for key life insurance performance indicators using SQL and Tableau, streamlining reporting processes and reducing manual reporting efforts by 8 hours weekly, thus enhancing actuarial analysis and decision-making
- Applied actuarial clustering methods in SAS and R to assess and adjust risk factors for underperforming life insurance products, leading to a 5% increase in quarterly profits by aligning products with underwriting models.
Education
Doctorate in Business Administration -
Westcliff University
Irvin, CAMaster of Science in Business Analytics -
Sawyer Business School, Suffolk University
Boston, MAActuarial Student-Central Summer Prog -
Casualty Actuarial Society (CAS)
Boston, MABachelor of Science in Actuarial Science -
University of KwaZulu Natal
Durban, South AfricaSkills
- Data cleaning
- Modelling
- Mining
- Python
- SQL
- SAS
- R
- VBA
- Excel
- SAP
- Tableau
- Power BI
- Machine learning
Websites
Timeline
Financial Data Analyst
Evernorth Health (Member of Cigna Health) (Remote)
2023.07 - Current
Actuarial Analyst
InterWell Health (Remote)
2021.09 - 2023.06
Pricing Analyst
BURNDY (Hubbell Inc.)
2021.05 - 2021.10
Actuarial Analyst
Insurance & Pensions Commission (IPEC)
2018.09 - 2020.01
Actuarial Assistant
Old Mutual Life Assurance
2015.09 - 2018.08
Doctorate in Business Administration -
Westcliff University
Master of Science in Business Analytics -
Sawyer Business School, Suffolk University
Actuarial Student-Central Summer Prog -
Casualty Actuarial Society (CAS)
Bachelor of Science in Actuarial Science -
University of KwaZulu Natal
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