Assistant Actuary I (ASA Designation Required )

Description

The Assistant Actuary I performs both routine and ad hoc actuarial and statistical analyses to estimate financial outcomes. Applies knowledge of mathematics, probability, statistics, and principles of business to complete health calculations.

Duties

• Pricing (Commercial & Medicare):
  • Works on pricing research projects, including experience and trend analyses, book of business studies, CMS revenue and risk score analysis, etc.
  • Works with team to develop rating information packages to be delivered to underwriting and other internal customers.
  • Works on rate filings for State Insurance Departments, CMS and other regulatory agencies.
  • Assists in developing processes and methods used in performing analysis on 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.
  • Designs and prepares reports of medical cost results, both historical and projected.
  • Completes valuations of medical cost initiatives and tracks performance against goals.
  • Affords assistance in development of trend projections.
  • Performs other duties and special projects as required.
• Reserving/Planning:
  • Works on the development, calculations and monitoring of accruals, liabilities and reserves for various lines of business and groups.
  • Affords assistance in the development of reserving methods and calculates reserves for products and the development of financial liability models for various lines of business.
  • Oversees or compiles data, develops and calculates expected loss ratios for financial settlements.
  • May afford assistance in 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. Two to five years of experience is required.
• Completion of ASA designation required for Assistant Actuary I and a minimum of three years of experience.
• Solid mathematical background including experience working with risk models, actuarial or mathematical analysis, and using automated or statistical analysis tools. Proficiency in Excel required. Demonstrated experience using SQL server a plus.
• Excellent organizational, analytical, and communication skills are required.

Inclusion and Belonging

At IBX, everyone can feel valued, supported, and comfortable to be themselves, and all associates have a fair opportunity to achieve their full potential. We put these principles into action every day by acting with integrity and respect. Celebrating and embracing diverse thoughts and perspectives that make up our workforce means our company is more vibrant, innovative, and better able to support the people and communities we serve.

About Our Company

Serving more than 8 million people nationwide, including 2.5 million in southeastern Pennsylvania, Independence Health Group — together with its subsidiaries — is the leading health insurance organization in the Philadelphia region. Our mission to build healthier lives for you, your family, and your employees shapes our actions and decisions every day.

Equal Employment Opportunity

IBX is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to their age, race, color, religion, sex, national origin, sexual orientation, protected veteran status, or disability.