Associate Actuary (ASA)

Blue Cross Blue Shield Association • Full-time • Greater Chicago Area, US • 3w ago

Please read, as part of this position, the individual will need to travel to our Chicago office once a week. This is a crucial and essential part of the role, and we sincerely appreciate your understanding and cooperation regarding this expectation.

Summary: Use statistics, financial theory, mathematics, and basic financial and actuarial principles to assess the impact of internal and/or external proposals, activities, or initiatives for the Federal Employee Program (FEP), the Federal Employee Dental and Vision Insurance Program (FEDVIP), and other departments within BCBSA and the Plans as needed. Operate with a high level of autonomy for purposes of pricing, underwriting, reserving, forecasting and other actuarial functions. Manage small projects and communicate complicated concepts, information, and recommendations, and present technical information to non-technical audiences. Work product affects management decisions as well as financial soundness of Blue Plans, FEP, and FEDVIP.

What you will do:

Provides the evaluation, implementation, and maintenance of models and studies, which use actuarial principles for the purposes of pricing, underwriting, reserving, trend analyses, rating support, forecasting, and other actuarial functions, including peer review, as needed. Summarizes results, provides observations and recommendations to assist with management decisions.
Develops, analyzes, and quantifies the effects of new initiatives, proposals, environmental changes such as: laws/regulation, tax policy; trend; competitor, member, and provider behavior impacting FEP, FEDVIP, BCBSA, or Blue Plans, as appropriate. Analyzes the financial effect and determines the estimated actuarial impact and recommends appropriate solutions.
Responds to a variety of technical inquiries or requests and provides technical actuarial assistance to internal customers or external customers (OPM, Congress, etc.), and Blue Plans upon request. Supports and evaluates the Plan Trend Surveys and other BCBSA publications as requested.
Maintains actuarial credentials which may include continued progression through the actuarial examination process.
Supports actuarial presentations at meetings, conferences, and training sessions as requested.

What TeamBCBSA needs:

Education

Required Bachelor's Degree Actuarial Science, Mathematics, Statistics, or related field; or equivalent work experience

Experience

5+ Years actuarial experience, with multiple years in medical, dental, vision insurance, or other health related experience required

Knowledge Skills and Abilities

Moderate health actuarial and related technical expertise in rating, underwriting, valuation, product development, trend analysis, forecasting, rate filings, financial statements, legislative analysis, policy development, and R&D projects is required.
General understanding of data support systems and data requirements.
Ability to work effectively in multi-disciplinary team environment .
Excellent oral and written communication skills and the ability to present technical information to non-technical audiences
Ability to work in unfamiliar and potentially politically driven situations with limited data.
Demonstrated technical skills with the Microsoft Office Suite are required, including Microsoft Excel
Skilled in basic accounting and financial analysis.
Five years of actuarial experience, with multiple years in medical, dental, vision insurance, or other health related experience
Experience in Access, SAS, SQL, Visual Basic, R, or other programming skills.
Certifications & Licenses
Required: Associate of the Society of Actuaries (ASA) - SOA

What we offer: