Principal Actuary

Omada Health is on a mission to bend the curve of chronic disease. Job overview: Omada is seeking a Principal Actuary to build our internal actuarial capability and help establish how we measure, communicate, and price the economic value of our programs. Reporting to the VP of Strategic Finance, you will be a hands-on individual contributor partnering across Finance, Clinical, Commercial, and Strategy. You will bring actuarial rigor to savings and ROI methodology, performance guarantees, and at-risk arrangements. This role combines independent modeling with customer-facing work: you will build defensible analyses, explain trade-offs to business partners, and engage directly with payer actuaries and benefits consultants. Your Impact: • Partner with Clinical and Commercial teams to develop ROI models for Medicare and government markets, support analyses related to Star Ratings, and inform future studies and evaluations of Omada’s programs and services. • Design and price performance guarantees and at-risk terms. Build pricing and exposure models, define clear triggers and measurement terms, and establish actuarial guardrails for customer commitments. • Serve as the actuarial voice in finalist meetings, RFPs, and renewals with payers, employers, and benefits consultants; explain and defend measurement methodology actuary-to-actuary. • Model and monitor performance guarantee exposure across the customer portfolio. Identify contracts at risk and provide accrual and reserve inputs to Accounting. • Pressure-test pricing and unit economics, including the effects of GLP-1 utilization, pharmacy trend, and medical trend on Omada’s programs and customers. • Establish reusable, version-controlled models and methodology documentation. Build actuarial understanding across Finance, Strategy, Commercial, and Clinical, and support audit and disclosure review. You will independently set actuarial methodology and assess guarantee soundness, while partnering through existing governance for final pricing, contract terms, material risk acceptance, accounting conclusions, and external claims. About you: • ASA or FSA designation from the Society of Actuaries, in good standing. • Bachelor’s degree in actuarial science, mathematics, statistics, economics, or a comparable quantitative field. • 10 or more years of healthcare actuarial experience across Medicare Advantage, government markets, payer, consulting, or a risk-bearing digital health or provider organization. • Hands-on experience with medical and pharmacy claims, including building matched-cohort and claims-based savings studies that have withstood third-party scrutiny. • Experience designing or evaluating performance guarantees, shared savings, ROI, or other value-based arrangements, including quantifying downside exposure. • Strong SQL and advanced Excel skills, with the ability to independently extract data, build models, and validate results. • Strong experience using AI in analytical workflows, with clear validation of outputs and appropriate handling of confidential information. • Ability to present and defend methodology to payer actuaries and analysts, benefits consultants, and employer finance leaders. You bring intellectual honesty, commercial judgment, and clear written communication. You can challenge an unsupported assumption constructively, distinguish evidence from uncertainty, and translate complex analysis into decisions without compromising methodological integrity. Bonus Points for: • FSA and MAAA credentials rather than ASA alone. • Direct experience with GLP-1 and pharmacy trend economics, including specialty drug management. • Experience in Medicare or government markets, including Medicare Advantage, Medicaid managed care, or risk adjustment methodolog