Actuary

Blue Cross & Blue Shield of Rhode Island; United States; Hybrid; USD 116,900 - 187,100; Full time

Benefits offered by this job

Flexible work arrangements

Health, dental, and vision insurance

Tuition reimbursement

Bonus programs

Job summary

Blue Cross & Blue Shield of Rhode Island seeks an actuarial professional to support pricing, forecasting, and pharmacy benefit management initiatives. This highly visible role analyzes pharmacy claims experience, drug utilization, cost trends, and financial performance to inform pricing, product strategy, and forecasting.

Ideal candidates hold a math/economics degree, ASA designation, and 3–5 years actuarial experience, with strong analytical and communication skills for cross‑functional

Qualifications

• Bachelor’s degree in Mathematics, Economics, or related field.
• Three to five years actuarial experience.
• ASA Society of Actuaries designation.
• Ability to interpret and perform forecasting, modeling and trend analysis.

Responsibilities

• Monitor, analyze, and report on rating formula effectiveness; perform financial forecasting and trend analysis.
• Develop statistical and actuarial models for rate and reserve analysis.
• Design and write programs to extract data from databases and analyze health insurance data.
• Prepare regulatory reporting requirements.
• Participate in department initiatives and projects.
• Perform other duties as assigned.

Skills

Actuarial analysis

Forecasting

Statistical modeling

Data interpretation

Communication skills

Problem solving

Presentation skills

Negotiation

Organizational skills

Education

Bachelor's degree in Mathematics, Economics, or related field

ASA designation

Job description

Pay Range

$116,900.00 - $187,100.00

Please email [e-mail] if you are a candidate seeking a reasonable accommodation for the application and/or interview process.

Benefits

We offer flexible work arrangements (remote, hybrid, or in‑office), paid time off, tuition reimbursement, student‑loan repayment assistance, health, dental, and vision insurance, mental‑health and well‑being programs, competitive pay, bonuses, investment plans, and additional paid time for volunteering. We are dedicated to growing and developing our employees.

Why This Job Matters

The Actuary will support a broad range of actuarial and financial functions related to BCBSRI's pharmacy benefit programs. This highly visible role requires extensive analysis of pharmacy claims experience, drug utilization, cost trends, and financial performance to support pricing, forecasting, product strategy, and pharmacy benefit management initiatives.

What You Will Do

• Monitor, analyze, and report on the effectiveness of the existing rating formula; perform financial forecasting and trend analysis.
• Develop statistical and actuarial models to assist in the analysis of rate and reserve adequacy; evaluate corporate loss reserves.
• Design and write computer programs to extract data from various databases; extract and analyze claims, enrollment, and general health insurance data.
• Prepare regulatory reporting requirements.
• Participate in department initiatives and projects.
• Perform other duties as assigned.

What You Need To Succeed

• Bachelor’s degree in Mathematics, Economics, or related field, or an equivalent combination of education and experience.
• Three to five years actuarial experience.
• ASA Society of Actuaries designation.
• Ability to interpret and perform financial forecasting, statistical modeling, and trend analysis.
• Advanced analytical skills, with the ability to interpret and synthesize complex data sets.
• Good business acumen and political savvy.
• Knowledge of business process improvement techniques and strategies.
• Excellent verbal and written communication skills.
• Negotiation skills.
• Presentation skills.
• Decision‑making skills.
• Good problem‑solving skills.
• Ability to interface with employees at all levels.
• Ability to effectively navigate ambiguous situations with limited direction.
• Excellent organizational skills and ability to prioritize multiple tasks.
• Ability to handle multiple priorities and projects.

The Extras

• Experience in the health insurance industry.

Location & Role

BCBSRI is headquartered in downtown Providence, conveniently located near the train station and bus terminal. We support associate well‑being and work/life balance and offer the following schedules, based on role:

• In‑office: onsite 5 days per week.
• Hybrid: onsite 2‑4 days per week.
• Remote: onsite 0‑1 days per week. Remote work is permissible for employees residing in Arizona, Connecticut, Florida, Georgia, Louisiana, Massachusetts, North Carolina, Oklahoma, Rhode Island, South Carolina, Texas, or Virginia, pending approval from Human Resources.

BCBSRI is an equal opportunity employer. The law requires an employer to post notices describing the Federal laws. Please visit www.eeoc.gov/know-your-rights-workplace-discrimination-illegal to view the "Know Your Rights" poster.