Actuarial Analyst

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

Benefits offered by this job

Paid time off

Paid holidays

Insurance (medical/dental/vision)

Job summary

Blue Cross of Idaho Health Service is seeking an Actuarial Analyst at multiple levels to apply actuarial models to profitability and membership goals, set claim liabilities, and develop rates. You will perform experience analysis and establish financial projections while engaging with various departments.

The role supports annual incentive potential and a comprehensive benefits package; education and ASA designation progress are required. This position reports to the Manager Actuarial Services.

Qualifications

• 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

Responsibilities

• 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.

Education

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

Job description

Role Overview

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.

Reporting and Interaction

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

Actuarial Analyst I

• 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

Key Responsibilities

• 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.

Typical Day

• 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

Pay & Benefits

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).

• 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.

Eligibility & Legal Requirements

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.

Equal Opportunity Employer

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.