Actuarial Analyst

ABCS, Inc. IT Executive and Contingent Workforce Staffing; Hyde Park Township (IL); Remote; USD 95,000 - 105,000; Full time

Job summary

A leading company is seeking an Actuarial Analyst for a full-time position. The role involves advanced analytics for pricing and rate filings, requiring strong mathematical and statistical skills. Candidates with a Bachelor's Degree in relevant fields and experience in healthcare are preferred. The position is remote, with a competitive salary range of $95k to $105k.

Qualifications

• 2 years of experience in an actuarial field for grade levels 28 and higher.
• Bachelor's Degree in related field required.
• 5 years of experience in healthcare organization preferred.

Responsibilities

• Determine adequate premium levels for products.
• Prepare and submit rate filings to authorities.
• Analyze benefit changes and summarize results.

Skills

Analytical

Mathematics

Statistics

Communication

Education

Bachelor's Degree in actuarial science

Bachelor's Degree in business

Bachelor's Degree in mathematics

Bachelor's Degree in statistics

Bachelor's Degree in economics

Tools

Spreadsheet software

Word processing software

Presentation software

Job description

ABCS, Inc. IT Executive and Contingent Workforce Staffing provided pay range

This range is provided by ABCS, Inc. IT Executive and Contingent Workforce Staffing. Your actual pay will be based on your skills and experience — talk with your recruiter to learn more.

Base pay range

$95,000.00/yr - $105,000.00/yr

Title: Actuarial Analyst - Pricing and Rate Filings

Location: Phoenix, AZ (Remote)

Type: Full-time/Direct-hire

Desired Salary Range: $95k - $105k DOE

Considering: Local to Arizona, or open for relocation, candidates are welcome to apply

JOB LEVEL DEFINITIONS

PURPOSE OF THE JOB

Performs advanced analytics to facilitate fact-based decision-making regarding price development of products and various benefit options to ensure attainment of profit targets.

REQUIRED QUALIFICATIONS

REQUIRED WORK EXPERIENCE

• For grade level 27, no experience is required

• For grade levels 28 and higher, 2 years of experience in an actuarial field, or relevant work experience

REQUIRED EDUCATION

• Bachelor's Degree in actuarial science, business, mathematics, statistics, economics or related field of study

PREFERRED QUALIFICATIONS

PREFERRED WORK EXPERIENCE

• 5 years of experience working for a healthcare organization / health insurer (Applies to All Levels)

• 5 years of experience in an actuarial field (Applies to All Levels)

PREFERRED EDUCATION

• Bachelor’s Degree in business, mathematics, statistics, or related field of study (Applies to All Levels)

PREFERRED CERTIFICATIONS

• Associate, Society of Actuaries (ASA) (Applies to All Levels)

• Member of the American Academy of Actuaries (MAAA) (Applies to All Levels)

ESSENTIAL JOB FUNCTIONS AND RESPONSIBILITIES

ACTUARIAL ANALYST I-III / ASSOCIATE ACTUARY I-III

• Under general supervision, determine adequate and competitive premium levels for Individual, Commercial and Government products

• Under general supervision, prepare and submit rate filings to Federal and State authorities

• Under general supervision, analyze benefit changes, prepare competitive analysis and summarize results

• Under general supervision, complete financial forecast scenario modeling to evaluate and ensure profitable business segments

• Under general supervision, prepare impact analysis for benefit changes, develop pricing factors to ensure adequate premium coverage for each product line

• Develop sensitivity testing analysis and summarize results to management

• Display knowledge of Individual, Commercial and Government products, pricing, and forecasting

• Display initiative in research beyond the specific assignment

• Meaningfully contribute to the area’s workload, considering volume and complexity

LEAD ACTUARIAL ANALYST I-II / LEAD ASSOCIATE ACTUARY I-II

• Manage workload with minimal supervisory instructions, limited project management assistance, and limited review of results, beyond pre-release peer review.

• Provide support to business partners (general managers) in pricing, product and market analysis with minimal supervision

• Display initiative in research beyond the specific assignment

• Communicate (both verbally and in writing) and interprets results, recommendations and abstract concepts to internal and external customers. Anticipate and address possible customer questions and concerns.

• Prepare, submit and or present recommendations to the Actuarial department’s management team on financial analysis.

• Pursue expansion of current knowledge and skills.

• Meaningfully contribute to the area’s workload, considering volume and complexity.

• Train other analysts and provide peer review.

SENIOR ACTUARIAL ANALYST I-IV / SENIOR ASSOCIATE ACTUARY I-IV

• Report to a manager who provides minimal supervisory instructions, limited project management, and minimal or limited review of results, beyond pre-release peer review.

• Along with research, create analyses and recommendations that will allow client to meet its goals

• Plan and lead complex projects from inception to completion. Includes working independently on creating timelines, working with other areas to define deliverables, monitoring progress, implementing the project and resolving/monitoring post-implementation issues.

• Communicate (both verbally and in writing) and interprets results, recommendations and abstract concepts to internal and external customers. Anticipate and addresses possible customer questions and concerns.

• Incorporate strategic planning in all areas of responsibility.

• Train and mentor other analysts and provide peer review.

ALL LEVELS

• Each progressive level includes the ability to perform the essential functions of any lower levels and train employees in those levels.

• The position requires a full-time work schedule. Full-time is defined as working at least 40 hours per week, plus any additional hours as requested or as needed to meet business requirements.

• Perform all other duties as assigned

REQUIRED COMPETENCIES

REQUIRED JOB SKILLS (APPLIES TO ALL LEVELS)

• Advanced skill in mathematics and statistics

REQUIRED JOB SKILLS (APPLIES TO GRADE LEVELS 28 AND ABOVE)

• Intermediate to advanced proficiency in spreadsheet, word processing and presentation software

• Basic proficiency in data warehouse querying tools, and programming.

REQUIRED PROFESSIONAL COMPETENCIES (APPLIES TO ALL LEVELS)

• Analytical knowledge necessary to generate reports, actuarial analyses, and mathematical models based on available data and then make sound decisions based on reported data

• Ability to solve problems independently and draw accurate conclusions from limited data using basic mathematical modeling and actuarial techniques.

• Ability to deal with ambiguity and make recommendations with less than complete or conflicting information while maintaining appropriate time management.

• Ability to maintain confidentiality and privacy

• Ability to communicate effectively, both orally and in writing, to all levels in all departments.

• Ability to summarize technical information to a non-technical audience.

• Ability to build and maintain productive working relationships with others.

PREFERRED COMPETENCIES

PREFERRED JOB SKILLS (APPLIES TO GRADES 28 AND ABOVE)

• Advanced proficiency in spreadsheet, word processing and presentation software

• Intermediate proficiency with data warehouses and query tools / design

PREFERRED PROFESSIONAL COMPETENCIES (APPLIES TO GRADES 29 AND ABOVE)

• Project management skill needed to create timelines, track deliverables and task progress, resolve issues, and communicate project status

Seniority level

• Seniority level

  Mid-Senior level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Analyst and Strategy/Planning

• Industries

  Insurance

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