Actuarial Consultant

Blue Cross Blue Shield of Michigan; Detroit (MI); On-site; USD 75,000 - 95,000; Full time

Job summary

Blue Cross Blue Shield of Michigan is seeking an Actuarial Consultant in Detroit, MI. The role involves initiating and analyzing complex actuarial research, ensuring data accuracy, and offering recommendations to leadership. Candidates should have a Bachelor’s degree in actuarial science, four years of actuarial experience, and progress towards the ASA designation. The position requires strong analytical skills and effective communication. The consultant will also monitor vendor performance and evaluate contract terms.

Qualifications

• Four (4) years related actuarial experience.
• At least one year of BCN/BCBSM actuarial experience or comparable experience.
• Earned at least six (6) exam components toward the ASA designation.

Responsibilities

• Initiate, organize and analyze non-routine actuarial research.
• Recommend improvements to data used in outputs.
• Define scope of major projects and coordinate completion.

Skills

Strong analytical and critical thinking skills

Knowledge of actuarial methods and practices

Effective communication skills

Planning and prioritization techniques

Education

Bachelor’s degree in actuarial science or related area

ASA designation progress

Job description

The Actuarial Consultant is responsible for the initiation, organization and analysis of non-routine actuarial research used for analysis including but not limited to valuations, financial reporting and forecasting, trend analytics, and pricing.

• Utilize advanced actuarial concepts to design and perform complex analysis, conduct research and make recommendations to leadership.
• Ensure completeness, accuracy and appropriateness of all insurance data used in the production of outputs; recommend improvements to data as needed.
• Independently recommend specific course of action; consider internal, external and customer impacts. Independently communicate to stakeholders.
• Define scope of major projects and coordinate completion.
• Assess and implement efficiency enhancing processes where available.
• Respond to requests from internal departments; prioritize and review work of peers for actuarial soundness.
• Drive key department processes. May provide technical guidance to and coordinate work less experienced team members.

Remain current on actuarial techniques, seek development and improvement opportunities and understand corporate/cross-functional objectives and cultural beliefs.

Qualifications

• Bachelor’s degree in actuarial science or related area.
• Four (4) years related actuarial experience. Preference to have at least one year of BCN/BCBSM actuarial experience or comparable experience at another company.
• Earned at least six (6) exam components (exam, validation by educational experience, modules, final assessment) toward the attainment of the ASA designation and plans to continue making timely progress to obtain ASA credential.
• Knowledge of actuarial methods and practices.
• Strong analytical and critical thinking skills.
• Can effectively utilize email, presentations and verbal communication to convey the intent and methodology of their work, and the broader implications of results to actuarial and non-actuarial audiences.
• Ability to apply appropriate planning and prioritization techniques.
• Other related skills and/or abilities may be required to perform this job.

Additional Department Information

Candidate will be responsible for monitoring and evaluating vendor program performance including performance settlements with vendors, connecting actual results to original expectations and broader enterprise strategies.

Responsibilities will also include making recommendations on contract terms and supporting questions from internal and external stakeholders.

Must be proficient in data management, including data extraction, data analysis and drawing conclusions.

All qualified applicants will receive consideration for employment without regard to, among other grounds, race, color, religion, sex, national origin, sexual orientation, age, gender identity, protected veteran status or status as an individual with a disability.