Actuarial Analyst
About The Position
The Actuarial Analyst uses actuarial models to help Blue Cross of Idaho meet profitability and membership goals by setting claim liabilities, developing rates and rate factors, performing experience analysis for blocks of business, and establishing financial projections. The position interacts with various Blue Cross of Idaho departments and reports to the Manager Actuarial Services. The role includes corporate reserving and forecasting, analyzing claim costs and premium factors, evaluating potential savings from claim reduction initiatives, and monitoring actual results. The analyst also develops new perspectives and approaches to problems and provides measurable input into new products, processes, standards, and operational plans that may affect overall functional results. The posting describes three levels. Level I requires a bachelor's degree or equivalent work experience and pursuit of the ASA designation with at least one Society of Actuaries exam completed. Level II additionally requires two years of relevant experience and at least three exams completed. Level III additionally requires four years of relevant experience and at least five exams completed. The position is eligible for an annual incentive bonus, which varies based on company and employee performance. Applicants must be legally authorized to work in the United States at application and throughout employment; employment-based visa sponsorship is not provided.
Requirements
- Bachelor’s degree or equivalent work experience; two years of relevant work experience is equivalent to one year of college.
- Must be pursuing the Society of Actuaries ASA designation.
- Actuarial Analyst I: at least one Society of Actuaries exam completed.
- Actuarial Analyst II: two years of relevant experience and at least three Society of Actuaries exams completed.
- Actuarial Analyst III: four years of relevant experience and at least five Society of Actuaries exams completed.
- Must be legally authorized to work in the United States at the time of application and throughout employment.
Responsibilities
- Set claim liabilities.
- Develop rates and rate factors.
- Perform experience analysis for blocks of business.
- Establish financial projections.
- Analyze claim costs and premium factors.
- Evaluate potential savings from claim reduction initiatives.
- Monitor and measure actual results.
- Perform corporate reserving and forecasting.
- Develop new perspectives and approaches to problems.
- Provide measurable input into new products, processes, standards, and operational plans.
Benefits
- Annual incentive bonus, variable depending on company and employee performance.
- Paid time off.
- Paid holidays.
- Community service and self-care days.
- Medical, dental, vision, and pharmacy insurance.
- 401(k) matching and non-contributory plan.
- Life insurance.
- Short- and long-term disability.
- Education reimbursement.
- Employee assistance plan (EAP).
- Adoption assistance program.
- Paid family leave program.
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
