Actuarial Analyst III

About the role

This Senior Actuarial Analyst position resides within the Actuarial Department and plays a key role in supporting premium rate development and pricing strategies for the Large Group market. The role is responsible for analyzing and evaluating proposed benefit and cost-sharing changes, conducting pricing and financial impact studies, assessing the implications of state and federal legislative and regulatory changes, and supporting Mental Health Parity compliance reviews.

Responsibilities

• Assist in the development and maintenance of premium rates for the Individual and Small Group markets.
• Support the preparation, validation, and submission of premium rate filings to state and federal regulatory agencies.
• Analyze and evaluate proposed benefit design and cost-sharing changes to determine financial and actuarial impacts.
• Conduct pricing analyses, actuarial studies, and financial modeling to support product and rate development initiatives.
• Assess the impact of proposed state and federal legislative, regulatory, and healthcare reform changes on pricing and product strategy.
• Perform Mental Health Parity compliance reviews and support related regulatory reporting requirements.
• Conduct experience analyses and drill-down studies to identify emerging trends, utilization patterns, and key cost drivers.
• Develop ad hoc actuarial models and analytics to support strategic decision-making and business initiatives.
• Collaborate with Product, Finance, Underwriting, Regulatory, Compliance, and other business partners to evaluate assumptions and recommendations.
• Review and analyze data from multiple sources to support actuarial projections and risk assessments.
• Prepare reports, presentations, and recommendations for management, clearly communicating complex actuarial concepts and analytical findings.
• Support additional actuarial projects and initiatives as assigned by department leadership.
• Apply actuarial principles, statistical methods, and mathematical modeling techniques to evaluate risk and support sound business decisions.

Requirements

• Bachelor's degree in Mathematics, Statistics, Actuarial Science, Economics, Finance, or a related quantitative field from an accredited college or university, or an equivalent combination of education and relevant experience.
• Minimum of four (4) years of actuarial, statistical, healthcare analytics, or related quantitative experience.
• Progress toward Associate of the Society of Actuaries (ASA) designation preferred.
• Experience supporting actuarial pricing, modeling, forecasting, or financial analysis initiatives.

Preferred Qualifications

• Experience within the health insurance or managed care industry.
• Familiarity with state and federal regulatory requirements related to health insurance products.
• Progress toward or attainment of ASA designation strongly preferred.
• Associate of the Society of Actuaries (ASA) preferred.
• Continued advancement through the Society of Actuaries examination process is highly desirable.

Skills & Abilities

• Advanced proficiency in Microsoft Excel, including complex formulas, modeling, pivot tables, and data analysis.
• Experience with SAS, SQL, R, Python, or other statistical and analytical programming languages preferred.
• Strong understanding of actuarial principles, statistical methodologies, and quantitative analysis techniques.
• Ability to analyze large and complex data sets and translate findings into actionable business recommendations.
• Excellent analytical, mathematical, and problem-solving skills.
• Strong oral, written, and presentation communication skills with the ability to explain technical concepts to non-technical audiences.
• Demonstrated ability to exercise sound judgment and make data-driven recommendations.
• Strong attention to detail and commitment to accuracy.
• Ability to manage multiple projects and priorities in a fast-paced environment.
• Effective collaboration and relationship-building skills with cross-functional business partners.

Benefits

Comprehensive health benefits (Medical/Dental/Vision)
Retirement Plans
Generous PTO
Incentive Plans
Wellness Programs
Paid Volunteer Time Off
Tuition Reimbursement