Actuarial Analyst II

Duties

• Pricing (Commercial or Medicare):
  • Prepares data for pricing research, including experience and trend analyses, book of business studies, CMS revenue and risk score analysis, etc.
  • Prepares rating information packages to be delivered to underwriting and other internal customers.
  • Prepares rate filings for State Insurance Departments, CMS and other regulatory agencies.
  • Prepares and gathers the information necessary for special projects such as demographic factors, competitive analysis and other, as required.
  • Performs other duties and special projects as required.
• Medical Cost Analysis:
  • Prepares analysis and monitors claims trends for each line of business. Segregates cost, utilization, mix of services, coverage types and effects of benefit and demographic changes.
  • Prepares reports of medical cost results, both historical and projected.
  • Supports the valuation of medical cost initiatives and tracking of performance against goals.
  • Supports the development of trend projections.
  • Performs other duties and special projects as required.
• Reserving/Planning:
  • Develops, calculates and monitors accruals, liabilities and reserves for lines of business assigned. Works with the actuary or management to ensure proper formulae are developed and applied.
  • Develops interim estimates of refund liabilities for large accounts and accounts on alternative financial arrangements. May coordinate with Finance and Rating/Underwriting departments to ensure that ratings methodologies are properly projected and accrued.
  • Develops and calculates reserves for new products. Incorporates settlement terms as contained in various filings, agreements with accounts.
  • Compiles data to support monthly financial forecasts of premium and claims.
  • May assist with preparing the actuarial portions of financial statements and federal income tax returns and compiles, evaluates and certifies statistical data.
  • Performs other duties and special projects as required.

Requirements

• Bachelor's degree in Mathematics, Statistics, Economics, Actuarial Services, or related field or equivalent work experience.
• Completion of actuarial course exams P, FM, IFM, LTAM and associated VEE credits, and a minimum of two years of experience is required.
• Solid mathematical background including experience working with risk models, actuarial or mathematical analysis, and using automated or statistical analysis tools, proficiency in Excel required.
• Knowledge of SQL server a plus.
• Excellent organizational, analytical, and communication skills required.