Actuarial Analyst

Blue Cross of Idaho Health Service, Inc.; United States; On-site; USD 60,000 - 130,000; Full time

Benefits offered by this job

Paid time off

Paid holidays

Medical/dental/vision/pharmacy

401(k) matching

Life insurance

Disability insurance

Education reimbursement

Employee assistance plan (EAP)

Adoption assistance

Paid family leave

Job summary

Blue Cross of Idaho seeks an Actuarial Analyst to model claim liabilities, set rates, and perform experience analysis to support profitability and membership goals. The role reports to the Manager Actuarial Services and collaborates with multiple departments.

Positions span Analyst I–III with a Bachelor’s degree and ASA progression requirements. The company offers an annual incentive and emphasizes equal opportunity, comprehensive benefits, and a commitment to Idaho communities.

Qualifications

• Bachelor’s Degree or equivalent work experience.
• Pursuing ASA designation with minimum exam progress (I: 1, II: 3, III: 5+).

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 measure actual results.
• Perform corporate reserving and forecasting.
• Provide input into new products, processes, standards and/or plans.

Education

Bachelor’s Degree or equivalent work experience

ASA designation in progress – level I (1 exam)

ASA designation in progress – level II (3 exams)

ASA designation in progress – level III (5+ exams)

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

• 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.

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.

Benefits

• 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
• 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

Blue Cross of Idaho will extend reasonable accommodations to qualified individuals with disabilities who are otherwise not able to fully use electronic and online job application systems.

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.

Blue Cross of Idaho has taken our role as an Idaho-based health insurance company to heart since 1945. As a not-for-profit, we are driven to help connect Idahoans to quality and affordable healthcare while building strong networks and services. We aim to create a brighter future for all with the help of customer-centric professionals.

Your Health and Wellness Matters At Blue Cross of Idaho, we care about the health and well-being of our employees. Our benefits aim to help make your life easier, healthier and more balanced.

Your Career Development Matters We believe in employee growth, which is why we offer training, tools and numerous resources to assist with professional development.

Your Community Matters Our employees care deeply about Idaho. We work together to positively impact communities throughout Idaho, and contribute our time through volunteering.

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