Actuarial Analyst – QHP

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

Health insurance

401(k) matching

Life insurance

Disability insurance

Education reimbursement

Employee assistance program

Adoption assistance

Paid family leave

Job summary

Blue Cross of Idaho is seeking an Actuarial Analyst to leverage actuarial models, assess claim liabilities, and develop rates to meet profitability and membership goals. The role reports to the Manager Actuarial Services and collaborates across departments.

Levels I–III vary by experience: I with a bachelor’s or equivalent and ASA progress, II with 2 years’ experience and ASA progress to three exams, III with 4 years’ experience and ASA progress to five or more exams.

Qualifications

• Bachelor’s Degree or equivalent work experience. ASA designation in progress with minimum exams.
• Actuarial Analyst I requires pursuing ASA with at least one exam completed.
• Actuarial Analyst II requires 2 years of relevant experience and ASA progress with at least three exams.
• Actuarial Analyst III requires 4 years of relevant experience and ASA progress with at least five exams.

Responsibilities

• Price QHP plans and file rates with the state.
• Perform corporate reserving and forecasting.
• Develop new perspectives and approaches to problems.
• Provide input into new products, processes, and standards.

Skills

Actuarial analysis

Financial forecasting

Data analysis

Education

Bachelor’s Degree or equivalent

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. We're looking for an Actuarial Analyst with:

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

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:

• Price QHP plans and file rates with the state
• 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.

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 CommunityMatters

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

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. For assistance, please send an email to [e-mail].

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