Actuarial Analyst - Forecasting and Reserves
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.
ACTUARIAL ANALYST I-III / ASSOCIATE ACTUARY I-III
* Under general supervision, complete financial forecast scenario modeling to evaluate and ensure corporate financial health.
* Under general supervision, analyze and monitor monthly financial results, sources of gain and variances to plan.
* Under general supervision, create monthly claims liability estimates for all business segments, for review and certification by Chief Actuary.
* Under general supervision, analyze internal and external issues affecting claims payments/processing and initiate analyses on additional items with focus on establishing an adequate claims reserve level.
* Under general supervision, work on regulatory filings including quarterly and annual health statement filings and medical loss ratio reporting.
* Under general supervision, determine the necessity and amount of a premium deficiency reserve based on projections of future revenue and benefits to ensure solvency requirements are met.
* Under general supervision, perform ad hoc analyses as requested.
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 (finance, general managers) in financial analysis with minimal supervision
* Display initiative in research beyond the specific assignment
* Communicate (both verbally and in writing) and interpret results, recommendations and abstract concepts to internal and external customers. Anticipate and address possible business partner questions and concerns
* Prepare, submit and or present recommendations to the Actuarial department’s management team on financial analysis.
* Pursue expansion of current knowledge and skills.
* Meaningfully contribute to the area’s workload, considering volume and complexity.
* Train and mentor other analysts and provide peer review
SENIOR ACTUARIAL ANALYST I-IV / SENIOR ASSOCIATE ACTUARY I-IV
* Report to a manager who provides minimal supervisory instructions, limited project management, and minimal or limited review of results, beyond high-level 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.
* 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.
1. Required Work Experience
* For grade level 27, no experience is required
* For grade levels 28 and higher, 2 years of experience in an actuarial field, or relevant work experience
2. Required Education
* Bachelor's Degree in business, mathematics, statistics, or related field of study (Applies to All Levels)
3. Required Licenses
4. Required Certifications
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 field (Applies to All Levels)
2. Preferred Education
· Bachelor’s Degree in business, mathematics, statistics, or related field of study (Applies to All Levels)
3. Preferred Licenses
4. Preferred Certifications
* Associate, Society of Actuaries (ASA) (Applies to All Levels)
* Member of the American Academy of Actuaries (MAAA) (Applies to All Levels)
1. Required Job Skills (Applies to All Levels)
* Advanced skill in mathematics and statistics
2. Required Job Skills (Applies to Grade Levels 28 and above)
* Intermediate to advanced proficiency in spreadsheet, word processing and presentation software
* Basic proficiency in data warehouse querying tools, and programming
3. Required Professional Competencies (Applies to All Levels)
· 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.
4. Required Leadership Experience and Competencies (Applies to All Levels)
1. Preferred Job Skills (Applies to All Levels)
· Advanced proficiency in spreadsheet, word processing and presentation software
· Intermediate proficiency with data warehouses and query tools / design
2. Preferred Professional Competencies (Applies to All Levels)
· Project management skill needed to create timelines, track deliverables and progress, resolve issues, and communicate project status
3. Preferred Leadership Experience and Competencies (Applies to All Levels)
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.
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.
Imagine doing life-changing work and helping more than one million Arizonans live healthier and longer lives. That’s the kind of satisfaction you’ll find when you work here. Our exceptional teams in Phoenix, Tucson, Chandler, and Flagstaff have been transforming healthcare for more than 80 years. Explore what's possible with a career at Blue Cross® BlueShield® of Arizona