Actuarial Analyst

Blue Cross of Idaho; Meridian (ID); On-site; USD 60,000 - 130,000; Full time

Benefits offered by this job

Paid time off

Paid holidays

401(k) matching

Job summary

Blue Cross of Idaho seeks an Actuarial Analyst to model claim liabilities, develop rates and rate factors, and perform experience analysis to reach profitability and membership goals. The role reports to the Manager Actuarial Services and interfaces with multiple departments.

Positions vary by level with requirements including a Bachelor’s Degree and ASA exams in progress. Levels I–III offer increasing responsibilities and compensation, plus a comprehensive benefits package.

Qualifications

• Bachelor’s degree or equivalent work experience.
• Pursuing ASA designation with minimum exams completed (Levels I–III vary).

Responsibilities

• Set claim liabilities and develop rates and rate factors.
• Perform experience analysis for blocks of business.
• Establish financial projections and monitor results.
• Analyze claim costs and premium factors.
• Evaluate potential savings from claim reduction initiatives.
• Provide input for new products, processes and standards.

Education

Bachelor’s Degree or equivalent work experience

ASA designation in progress

Job description

This role will use actuarial models to ensure Blue Cross of Idaho meets profitability and membership goals by setting claim liabilities, developing rates and rate factors. Perform experience analysis for blocks of business, and establishing financial projections.

This Actuarial Analyst position will report to the Manager Actuarial services and interacts with various Blue Cross of Idaho departments.

Actuarial Analyst I

We're looking for an Actuarial Analyst with:

Education: Bachelor’s Degree; or equivalent work experience (Two years’ relevant work experience is equivalent to one-year college)

Licenses/Certifications: Must be pursuing designation of ASA in the Society of Actuaries with a minimum completion of one exam.

Actuarial Analyst II

Experience: 2 years’ relevant experience

Education: Bachelor’s Degree; or equivalent work experience (Two years’ relevant work experience is equivalent to one-year college)

Licenses/Certifications: Must be pursuing designation of ASA in the Society of Actuaries with a minimum completion of three exams

Actuarial Analyst III

Experience: 4 years’ relevant experience

Education: Bachelor’s Degree; or equivalent work experience (Two years’ relevant work experience is equivalent to one-year college)

Licenses/Certifications: Must be pursuing designation of ASA in the Society of Actuaries with a minimum completion of five or more exams

• Set claim liabilities.
• Develop rates and rate factors.
• Perform experience analysis.
• Establish financial projections.
• Analyze claim costs and premium factors.
• Evaluate potential savings from claim reduction initiatives.
• Monitor and measures actual results.

Your Day May Look Like

• Perform corporate reserving and forecasting
• Develop new perspectives and approaches to problems.
• Provide measurable input into new products, processes, standards and/or operational plans that will have some impact on the achievement of overall function results

As of the date of this posting, a good faith estimate of the current pay range is for a level I $60,048 - $92,894, level II is $78,064 - $117,095, level III is $86,650 - $129,974. The position is eligible for an annual incentive bonus (variable depending on company and employee performance).

The pay range for this position takes into account a wide range of factors including, but not limited to, specific competencies, relevant education, qualifications, certifications, relevant experience, skills, seniority, performance, travel requirements, internal equity, business or organizational needs, and alignment with market data. At Blue Cross of Idaho, it is not typical for an individual to be hired at or near the top range for the position. Compensation decisions are dependent on factors and circumstances at the time of offer.

We offer a robust package of benefits including paid time off, paid holidays, community service and self-care days, medical/dental/vision/pharmacy insurance, 401(k) matching and non-contributory plan, life insurance, short and long term disability, education reimbursement, employee assistance plan (EAP), adoption assistance program and paid family leave program.

We will adhere to all relevant state and local laws concerning employee leave benefits, in line with our plans and policies.

Applicants must be legally authorized to work in the United States at the time of application and throughout employment. The company does not provide employment-based visa sponsorship for this position

Reasonable accommodations

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

We are an Equal Opportunity Employer and do not discriminate against any employee or applicant for employment because of race, color, sex, age, national origin, religion, sexual orientation, gender identity, status as a veteran, and basis of disability or any other federal, state or local protected class.