Actuarial Analyst

Blue Cross and Blue Shield of Alabama; Birmingham (AL); Hybrid; USD 70,000 - 95,000; Full time

Job summary

The Actuarial Analyst at Blue Cross and Blue Shield of Alabama supports management with actuarial analyses, reports, and forecasting. You will summarize large data sets into concise, decision-ready dashboards and contribute to pricing and reserving efforts, collaborating with Finance and Underwriting teams.

The role requires a quantitative degree and progress on actuarial exams, with a hybrid work arrangement onsite at the Hoover corporate office three days a week.

Qualifications

• Bachelor’s degree in a quantitative field.
• SOA exam progress for actuarial track (at least 1 exam completed).
• Experience with Word and Excel for reporting.
• Strong analytical and communication abilities.
• Familiarity with SOA/AAA/NAIC/DOI guidance preferred.
• Experience with SQL, R, Python, or similar languages is a plus.
• Experience with data visualization tools such as Tableau or Power BI preferred.

Responsibilities

• Assist management by performing assigned actuarial work and summarizing data into reports.
• Support trend analysis, pricing, reserving and forecasting activities.
• Reconcile analysis results with other data sources and ensure accuracy.
• Participate in production of financial documentation and regulatory submissions.

Skills

Analytical thinking

Problem solving

Interpersonal skills

Oral and written communication

Microsoft Word

Microsoft Excel

Education

Bachelor’s Degree in Mathematics, Statistics, Economics, Finance, Actuarial Science, or a related field

Tools

SQL

R

Python

Tableau

Power BI

Job description

Department Overview

The Actuarial Department is part of the Finance Division. Actuarial responsibilities include developing the company's financial forecasts, enrollment reports, and rating guidelines. The department estimates claim costs and the financial impact of business decisions. It also estimates financial reserves and provides pricing support to the Underwriting Department. It undertakes research in support of product development, coverage for new business and changes in benefits and/or rates for existing customers. It has the lead role in filing required financial documentation for new and existing products with the Alabama Department of Insurance. It also is involved with reporting to other entities and regulatory authorities, including CMS, HHS, NAIC, and BCA.

Overview

The Actuarial Department is part of the Finance Division. Actuarial responsibilities include developing the company's financial forecasts, enrollment reports, and rating guidelines. The department estimates claim costs and the financial impact of business decisions. It also estimates financial reserves and provides pricing support to the Underwriting Department. It undertakes research in support of product development, coverage for new business and changes in benefits and/or rates for existing customers. It has the lead role in filing required financial documentation for new and existing products with the Alabama Department of Insurance. It also is involved with reporting to other entities and regulatory authorities, including CMS, HHS, NAIC, and BCA.

Primary Responsibilities

The Actuarial Analyst assists management by performing assigned actuarial work within the department. The incumbent summarizes masses of data into concise and meaningful reports, as well as reconciles results of analysis with other available data. These reports support the department's research and analysis including trend analysis, pricing, reserving, and forecasting.

Summary Of Qualifications

• Bachelor’s Degree in Mathematics, Statistics, Economics, Finance, Actuarial Science, or a related field
• Successful completion of at least 1 exam as administered by the Society of Actuaries (not including any modules completed)
• Experience using Microsoft Word and Excel
• Organizational and time management skills to work independently and manage multiple priorities effectively
• Excellent analytical and problem solving skills
• Strong attention to detail
• Excellent interpersonal skills to interact and build professional relationships with all levels of staff
• Good oral and written communication skills
• Familiar with applicable guidance as promulgated by the Society of Actuaries (SOA), American Academy of Actuaries (AAA), National Association of Insurance Commissioners (NAIC), Department of Insurance (DOI), Centers for Medicare and Medicaid Services (CMS), U.S. Department of Health and Human Services (HHS), etc. preferred
• Experience using Microsoft PowerPoint preferred
• Experience using Structured Query Language (SQL), R, Python, or similar programming languages preferred
• Experience using Tableau, Power BI, or similar data visualization tools preferred
• Willing to fill at a higher level based on experience. **

Work Location

The work schedule for this position will be hybrid (onsite/remote), which will require associates to be onsite at the corporate office in Hoover, AL three days each week. Business areas reserve the right to require associates to return to the office as needed, based on performance or other business considerations. A hybrid work schedule is subject to amendment or termination at any time by the Company.

Terms and Agreements

By submitting a job application, I attest that all information to the best of my knowledge is true and accurate. Furthermore, I understand that any information provided by me throughout the job application process is subject to verification including, but not limited to work experience, education, assessment (test) and interviews.

We appreciate your interest in Blue Cross and Blue Shield of Alabama 'The Company'. The Company does not discriminate in hiring or employment on the basis of race, color, religion, creed, sex, sexual orientation, gender identity, national origin, age, disability, genetics, status as a disabled or protected veteran, or because of citizenship status in the case of a citizen or intending citizen. No question on this application is intended to secure information to be used for such discrimination.

Blue Cross and Blue Shield of Alabama is an independent licensee of the Blue Cross and Blue Shield Association