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Actuarial Analyst I - Pharmacy

CareFirst BlueCross BlueShield
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PURPOSE: 
The Actuarial Analyst I will perform individual project tasks as requested, execute calculations of moderate complexity, and understand concepts of actuarial analysis that are of varying complexity. The incumbent is responsible for utilizing various sources to procure data and then turning that data into meaningful information, as well as fulfilling ad hoc requests.

ESSENTIAL FUNCTIONS:

  • Reviews and organizes actuarial and operational data for use in a variety of actuarial analyses that may include rate filings, financial forecasts, IBNR analysis, trend analysis, provider contract analysis, etc.  May utilize statistical tools to monitor and provide ongoing analysis. Prepares moderately complex reports and/or actuarial models. Documents data sources, assumptions, and methods. Updates SOPs as needed.
  • Prepares accurate and timely reports as assigned.  These reports may be related to internal analysis or may be external in nature (statutory and regulatory).
  • Participates and works collaboratively in a variety of special studies and ad hoc analyses in support of departmental business and/or clinical objectives.
  • Makes recommendations based on actuarial assumptions and methodologies. Presents analyses and recommendations in a polished and professional manner to internal and/or external customers. Researches and resolves data integrity issues. Partners with other team members to solve problems.
  • Makes progress toward ASA/FSA designation with the Society of Actuaries by passing SOA exams, completing modules, and/or obtaining validation by educational experience (VEE) credits.

QUALIFICATIONS:

Education Level: Bachelor's Degree in Mathematics, Finance, Actuarial Science or related field OR in lieu of a Bachelor's degree, an additional 4 years of relevant work experience is required in addition to the required work experience.

Preferred Qualifications:

  • 0-2 actuarial exams passed, 0-2 years of health actuarial experience. 

Knowledge, Skills and Abilities (KSAs)

  • Knowledge of calculus, statistics, probability to determine likelihood of certain events.
  • Ability to use models and tables to evaluate large data sets.
  • Strong understanding of business and financial concepts.
  • Excellent communication skills both written and verbal.
  • Fast learner and proactive problem solver.  Creativity is desirable.
  • Must be able to meet established deadlines and handle multiple customer service demands from internal and external customers, within set expectations for service excellence. Must be able to effectively communicate and provide positive customer service to every internal and external customer, including customers who may be demanding or otherwise challenging.