Associate Actuarial Analyst

Blue Cross and Blue Shield of Rhode Island; Providence (RI); On-site; USD 64,000 - 97,000; Full time

Job summary

Blue Cross & Blue Shield of Rhode Island is hiring for an analytical position focusing on financial stability and data analysis in healthcare. The role requires a Bachelor’s degree in a relevant field and actuarial experience, emphasizing analytical skills and forecasting.

Qualifications

• Bachelor's degree in Mathematics, Economics, or related field required.
• Up to 3 years actuarial experience preferred.
• Must achieve 85 or higher on the Wolfe-Spence Programming Aptitude test.

Responsibilities

• Monitor, analyze, and report on the effectiveness of rating formulas.
• Develop statistical and actuarial models for rate adequacy.
• Assist with extracting and analyzing claims and enrollment data.

Skills

Financial forecasting

Statistical modeling

Trend analysis

Analytical skills

Detail oriented

Organizational skills

Time management

Communication skills

Problem-solving

Education

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

Tools

Microsoft Suite

Job description

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

Schedule: Remote

Compensation:$64,600 - $96,800

Jump into the new world of health insurance:

At Blue Cross & Blue Shield of Rhode Island (BCBSRI), our business is healthcare. But our focus is on improving lives. Be part of a team that's large enough to make a difference but small enough to be innovative. Work in a rapidly changing field. Take a chance to be creative. Move outside the status quo. Shape new ideas with the power of a national brand behind you.

Join others who value a workplace for all:

We appreciate and celebrate everything that makes us unique, from personal characteristics to past experiences. Our different perspectives strengthen us as an organization and help us better serve all Rhode Islanders.

Why this job matters:

Assist with the analysis of company data to ensure the financial stability of the company. Monitor, analyze, and report on the effectiveness of the existing rating formula. Monitor rate and reserve adequacy. Provide analytical support through the extraction and analysis of claims, enrollment, and general health insurance data.

What you'll 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.


• Prepare project results or recommendations for a wide range of audiences using written reports and presentation exhibits/graphics.


• Assist with the development and testing of computer applications to enhance analytical capabilities related to corporate projects, increase efficiency and accuracy of calculations, and automate processes.


• Design and write computer programs to extract data from various databases. Extract and analyze claims, enrollment, and general health insurance data.


• Assist with the preparation of regulatory reporting requirements.


• Assist team with 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


• Up to three years actuarial experience


• Must achieve a score of 85 or higher on the Wolfe-Spence Programming Aptitude test


• 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


• Ability to research data, identify trends and recommend appropriate actions


• Detail oriented


• Ability to work successfully in a matrix environment


• Demonstrated written and verbal communications skills


• Ability to exercise sound judgment


• Ability to take initiative in finding solutions to difficult and/or sensitive problems


• Ability to establish and maintain strong working relationships with various stakeholders


• Ability to organize work efficiently to meet established time and quality standards


• Good organization skills


• Good time management skills


• Proficiency with Microsoft Suite of products; i.e., Word, Excel, PPT, etc

The extras:

• Successful completion of professional exams (Society of Actuaries or HIAA)


• Knowledge of Actuarial theory and methods and their appropriate application desirable


• Experience in the health insurance industry

Location:

BCBSRI is headquartered in downtown Providence, conveniently located near the train station and bus terminal. We actively 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. Permitted to reside in the following states, pending approval from the Human Resources Department: Arizona, Connecticut, Florida, Georgia, Louisiana, Massachusetts, North Carolina, Oklahoma, Rhode Island, South Carolina, Texas, Virginia

Our culture of belonging at Blue Cross & Blue Shield of Rhode Island (BCBSRI) is at the core of all we do, and it strengthens our ability to meet the challenges of today's healthcare industry. BCBSRI is an equal opportunity employer.

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