Actuary

About the role

The Actuary supports a variety of actuarial and financial functions related to BCBSRI's pharmacy benefit programs. This role involves extensive analysis of pharmacy claims experience, drug utilization, cost trends, and financial performance.

Responsibilities

• Monitor, analyze, and report on the effectiveness of the existing rating formula.
• Perform financial forecasting and trend analysis.
• Develop statistical and actuarial models to assist in the analysis of rate and reserve adequacy.
• Evaluate corporate loss reserves.
• Design and write computer programs to extract data from various databases.
• Extract and analyze claims, enrollment, and general health insurance data.
• Prepare regulatory reporting requirements.
• Participate in department initiatives and projects.
• Perform other duties as assigned.

Requirements

• Bachelor’s degree in Mathematics, Economics, or related field, or an equivalent combination of education and experience.
• Three to five years actuarial experience.
• ASA Society of Actuaries designation.
• Ability to interpret and perform financial forecasting, statistical modeling, and trend analysis.
• Advanced analytical skills, with the ability to interpret and synthesize complex data sets.
• Good business acumen and political savvy.
• Knowledge of business process improvement techniques and strategies.
• Excellent verbal and written communications skills.
• Negotiation skills.
• Presentation skills.
• Decision-making skills.
• Good problem solving skills.
• Ability to interface with employees at all levels.
• Excellent organizational skills and ability to successfully prioritize multiple tasks.
• Ability to handle multiple priorities/projects.

Qualifications

• Experience in the health insurance industry.

Skills

• Strong analytical skills.
• Proficiency in statistical modeling and trend analysis.
• Excellent communication and interpersonal skills.
• Ability to work independently and manage multiple projects.

Benefits

• Paid time off.
• Tuition reimbursement.
• Assistance with student-loan repayment.
• Health, dental, and vision insurance.
• Mental health and well-being programs.
• Competitive compensation.
• Investment plans.
• Opportunities for professional development and growth.
• Flexible work arrangements including remote and hybrid options.
• Additional paid time to volunteer.

Pay

Pay Range: $116,900.00 - $187,100.00

Schedule

• In-office: onsite 5 days per week.
• Hybrid: onsite 2-4 days per week.
• Remote: onsite 0-1 days per week.

Location

Role: BCBSRI is headquartered in downtown Providence, RI.