Senior Actuarial Analyst III (Remote - AZ)

Blue Cross Blue Shield of Arizona; Phoenix (AZ); Remote; USD 80,000 - 110,000; Full time

Job summary

A leading health insurance provider is seeking a Senior Actuarial Analyst III to conduct pricing and forecasting for various products. The ideal candidate will have a strong background in actuarial science, with experience in healthcare organizations and proficiency in advanced statistical methods. This remote position offers flexibility while contributing to the company's mission of promoting health and wellness.

Qualifications

• 2+ years of experience in an actuarial role.
• Experience working for a healthcare organization / health insurer.
• Experience programming pricing engines with Optum Step Wise tool.

Responsibilities

• Conducts projects related to pricing or forecasting competitive premium levels.
• Develop and modify Step Wise formulas for premium rates.
• Analyze benefit changes and prepare competitive analysis.

Skills

Advanced skill in mathematics and statistics

Analytical knowledge

Problem-solving

Effective communication

Education

Bachelor's Degree in actuarial science, business, mathematics, statistics, economics or related field

Job description

Senior Actuarial Analyst III (Remote - AZ)

Join to apply for the Senior Actuarial Analyst III (Remote - AZ) role at Blue Cross Blue Shield of Arizona

Senior Actuarial Analyst III (Remote - AZ)

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Join to apply for the Senior Actuarial Analyst III (Remote - AZ) role at Blue Cross Blue Shield of Arizona

Awarded a Healthiest Employer, Blue Cross Blue Shield of Arizona aims to fulfill its mission to inspire health and make it easy. AZ Blue offers a variety of health insurance products and services to meet the diverse needs of individuals, families, and small and large businesses as well as providing information and tools to help individuals make better health decisions.

At AZ Blue, we have a hybrid workforce strategy, called Workability, that offers flexibility with how and where employees work. Our positions are classified as hybrid, onsite or remote. While the majority of our employees are hybrid, the following classifications drive our current minimum onsite requirements:

• Hybrid People Leaders: must reside in AZ, required to be onsite at least twice per week
• Hybrid Individual Contributors: must reside in AZ, unless otherwise cited within this posting, required to be onsite at least once per week
• Hybrid 2 (Operational Roles such as but not limited to: Customer Service, Claims Processors, and Correspondence positions): must reside in AZ, unless otherwise cited within this posting, required to be onsite at least once per month
• Onsite: daily onsite requirement based on the essential functions of the job
• Remote: not held to onsite requirements, however, leadership can request presence onsite for business reasons including but not limited to staff meetings, one-on-ones, training, and team building
  
  

Please note that onsite requirements may change in the future, based on business need, and job responsibilities. Most employees should expect onsite requirements and at a minimum of once per week.

PURPOSE OF THE JOB

• Conducts or supervises projects related to pricing or forecasting competitive premium levels for group & individual products.
  
  

Qualifications

REQUIRED QUALIFICATIONS

Required Work Experience

• For grade level 27, no experience is required
• For grade levels 28 and higher, 2 years of experience in an actuarial role
  
  

Required Education

• Bachelor's Degree in actuarial science, business, mathematics, statistics, economics or related field of study
  
  

Required Licenses

• N/A
  
  

Required Certifications

• N/A
  
  

Preferred Qualifications

Preferred Work Experience

• 2+ years of experience working for a healthcare organization / health insurer
• 2+ years of experience in an actuarial role
• 2+ years of experience assisting in the development group premium rates
• 1+ year of experience programming pricing engines with Optum Step Wise tool
  
  

Preferred Education

• Bachelor's Degree in actuarial science, business, mathematics, statistics, economics or related field of study
  
  

Preferred Licenses

• N/A
  
  

Preferred Certifications

• Associate, Society of Actuaries (ASA)
• Member of the American Academy of Actuaries (MAAA)
  
  

Essential Job Functions And Responsibilities

ACTUARIAL ANALYST I – II // Associate Actuary II - III

• Under general supervision, develop and modify Step Wise formulas. Formulas will be used to develop small and large group premium rates, invoicing, and compliance with federal and state regulations.
• Under general supervision, develop pricing factors (age/gender, benefit, utilization, area, etc.) used by group Underwriting department in the Step Wise tool.
• Under general supervision, analyze benefit changes, prepare competitive analysis and summarize results
• Under general supervision, develop sensitivity testing analysis and summarize results to management
• Under general supervision, complete financial forecast scenario modeling to evaluate and ensure profitable business segments
• Display initiative in research beyond the specific assignment
• Meaningfully contribute to the area’s workload, considering volume and complexity.
  
  

LEAD ACTUARIAL ANALYST I – II / Lead Associate actuary I - II

• Manage workload with minimal supervisory instructions, limited project management assistance, and limited review of results, beyond pre-release peer review.
• Provide support to business partners (Underwriting and Product development) with limited supervision
• Communicate (both verbally and in writing) and interpret results, recommendations and abstract concepts to internal and external customers. Anticipate and address possible customer questions and concerns.
• Prepare, submit and or present recommendations to the Actuarial department’s management team on pricing analysis.
• Train and mentor other analysts and provide peer review
  
  

SENIOR ACTUARIAL ANALYST I - IV / SENIOR ASSOCIATE ACTUARY I – V

• Interpret emerging financial results versus forecasts. Along with research, create analyses and recommendations that will allow BCBSAZ to meet its goals
• Plan and lead complex projects from inception to completion. Includes working independently on creating timelines, working with other areas to define deliverables, monitor progress, implementing the project and resolving/monitoring post-implementation issues.
• Develop financial modeling and reporting for budgetary, strategic planning, and rating purposes, present results to departmental and Executive management.
  
  

ALL LEVELS

• Each progressive level includes the ability to perform the essential functions of any lower levels and mentor employees in those levels.
• The position requires a full-time work schedule. Full-time is defined as working at least 40 hours per week, plus any additional hours as requested or as needed to meet business requirements.
• Perform all other duties as assigned.
  
  

COMPETENCIES

Required Competencies

Required Job Skills

• Advanced skill in mathematics and statistics
  
  

Required Professional Competencies

• Broad understanding of health insurance terms and concepts; knowledge of benefit design and rating techniques
• Analytical knowledge necessary to generate reports, actuarial analyses, and mathematical models based on available data and then make sound decisions based on reported data
• Ability to solve problems independently and draw accurate conclusions from limited data using basic mathematical modeling and actuarial techniques.
• Ability to deal with ambiguity and make recommendations with less than complete or conflicting information while maintaining appropriate time management.
• Ability to maintain confidentiality and privacy
• Ability to communicate effectively, both orally and in writing, to all levels in all departments.
• Ability to summarize technical information to a non-technical audience.
• Ability to build and maintain productive working relationships with others.
  
  

Required Leadership Experience And Competencies

• N/A
  
  

Preferred Competencies

Preferred Job Skills (Applies to grades 28 and above)

• Advanced proficiency in spreadsheet, word processing and presentation software
• Intermediate proficiency with data warehouses and query tools / design
  
  

Preferred Professional Competencies (Applies To Grades 29 And Above)

• Project management skill needed to create timelines, track deliverables and progress, resolve issues, and communicate project status
  
  

Preferred Leadership Experience And Competencies

• N/A
  
  

Our Commitment

AZ Blue does not discriminate in hiring or employment on the basis of race, ethnicity, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, protected veteran status or any other protected group.

Thank you for your interest in Blue Cross Blue Shield of Arizona. For more information on our company, see azblue.com. If interested in this position, please apply.

Seniority level

• Seniority level

  Mid-Senior level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Finance and Sales

• Industries

  Insurance

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