Job Description

Blue Cross Blue Shield of Arizona is a local, independent Blue Cross Blue Shield Association and a not-for-profit health insurance company headquartered in Phoenix. Founded in 1939, the company has more than 1,800 dedicated employees throughout its Phoenix, Tucson, Chandler and Flagstaff offices. Providing health insurance products, services and networks to more than 1 million Arizonans, Blue Cross Blue Shield of Arizona offers various health plans for individuals, families, and small and large businesses. Blue Cross Blue Shield of Arizona also offers Medicare supplement plans to individuals over age 65.

Blue Cross Blue Shield of Arizona helps to fulfill its mission of improving the quality of life of Arizonans by delivering 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.

Performs advanced analytics to facilitate fact-based decision-making regarding financial results, strategic planning, and corporate financial soundness.

 

ESSENTIAL job functions AND RESPONSIBILITIES

 

 

 

Level 1

  • Under close supervision, determine monthly claims liability estimates for certification by the chief actuary.
  • Propose and perform analysis of internal and external issues impacting claims payments and processing, which aids in identifying necessary strategic action.
  • Coordinate external actuarial consultant quarterly IBNR estimate. Provide actuarial support of internal and external auditors. 
  • Design and prepare models to establish the amount of capital required to support business considering financial projection assumptions, rating methodology and competitive environment, among others. 
  • Develop sensitivity testing analysis and summarize results to management. 
  • Determine necessity and amount of a premium deficiency reserve.
  • Perform financial forecast scenario modeling with the perspective of ensuring corporate financial health.
  • Analyze and monitor financial results, sources of gain and variances to plan. 
  • Propose and perform analysis to accurately reflect profitability by line of business.
  • Determine the appropriate allocation of administrative expense by line of business for profitability projections.
  • Work with underwriting and finance departments to determine adequate rated administrative expense rates for each line of business considering the competitive environment and profitability impact.
  • Review admin allocations by line of business for use in profitability projections, tracking sources of surplus/deficiency.
  • Prepare analysis and documentation for the actuarial opinion and certification by the chief actuary.
  • Perform annual review of Experience-Rated Group (ERG) liability estimate accrual for retention accounting groups. 
  • Prepare Actuarial portion of financial statements.

Level 2

  • Under general supervision, determine monthly claims liability estimates for certification by chief actuary.
  • Display initiative in research beyond the specific assignment
  • Pursue expansion of current knowledge and skills. 
  • Meaningfully contribute to the area’s workload, considering volume and complexity. 
  • Provide self- and peer-review of level 1.

Level 3

  • Report to a supervisor or manager who provides minimal supervisory instructions, limited project management, and minimal or limited review of results, beyond pre-release peer review.
  • 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, monitoring progress, implementing the project and resolving/monitoring post-implementation issues.
  • Communicate (both verbally and in writing) and interprets results, recommendations and abstract concepts to internal and external customers.  Anticipate and addresses possible customer questions and concerns.
  • Incorporate strategic planning in all areas of responsibility.
  • Train and mentor other analysts and provide peer review.

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.

 

 

BCBSAZ 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.

Skills / Requirements

REQUIRED QUALIFICATIONS

  1. Required Work Experience
  • 1 year of experience in an actuarial field – may be acquired through coursework or internship (Level 1)
  • 2 years of experience in an actuarial field (Levels 2 – 3)
  1. Required Education
  • Bachelor's Degree in business, mathematics, statistics, or related field of study (Applies to All Levels)
  1. Required Licenses
  1. Required Certifications

PREFERRED QUALIFICATIONS

  1. Preferred Work Experience
    • 5 years of experience working for a healthcare organization / health insurer (Applies to All Levels)
    • 5 years of experience in an actuarial or healthcare economics field (Applies to All Levels)
  1. Preferred Education
    • Master’s Degree in business, mathematics, statistics, or related field of study (Applies to All Levels)
  1. Preferred Licenses
    • N/A
  1. Preferred Certifications
  • Associate, Society of Actuaries (ASA) (Level 3)
  • Member of the American Academy of Actuaries (MAAA) (Level 3)

REQUIRED COMPETENCIES

  1. Required Job Skills (Applies to All Levels)
    • Intermediate skill in use of office equipment, including copiers, fax machines, scanners and telephones
    • Intermediate PC proficiency
  • Intermediate proficiency in database, presentation, and word processing software
  • Expert proficiency in spreadsheet software(Applies to Levels 2 – 3)
  • Basic proficiency in data warehouse querying tools (Applies to Levels 2 – 3)
  • Advanced skill in mathematics and statistics
  1. Required Professional Competencies (Applies to All Levels)
    • 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. 
  1. Required Leadership Experience and Competencies (Applies to All Levels)
  • N/A
 
 

 

PREFERRED COMPETENCIES

  1. Preferred Job Skills (Applies to All Levels)
    • Advanced skill in use of office equipment, including copiers, fax machines, scanner and telephones
    • Advanced PC proficiency
    • Advanced proficiency in presentation, database and word processing software
    • Intermediate proficiency with data warehouses and query tools / design
  1. Preferred Professional Competencies (Applies to All Levels)
    • Knowledge of funding arrangements and their ratings
    • Project management skill needed to create timelines, track deliverables and progress, resolve issues, and communicate project status
  1. Preferred Leadership Experience and Competencies (Applies to All Levels)
  • N/A

 

 

Application Instructions

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