Actuarial Consultant

Blue Cross Blue Shield of Michigan•Detroit, MI

12h

About The Position

The Actuarial Consultant is responsible for the initiation, organization and analysis of non-routine actuarial research used for analysis including but not limited to valuations, financial reporting and forecasting, trend analytics, and pricing. This role involves utilizing advanced actuarial concepts to design and perform complex analysis, conduct research, and make recommendations to leadership. The consultant must ensure completeness, accuracy, and appropriateness of all insurance data used in the production of outputs and recommend improvements as needed. They are expected to independently recommend specific courses of action, considering internal, external, and customer impacts, and communicate effectively with stakeholders. Key responsibilities also include defining the scope of major projects, coordinating their completion, and assessing and implementing efficiency-enhancing processes. The consultant will respond to requests from internal departments, prioritize work, and review the work of peers for actuarial soundness, driving key department processes. They may also provide technical guidance to and coordinate the work of less experienced team members. Continuous professional development is expected, including staying current on actuarial techniques and understanding corporate/cross-functional objectives and cultural beliefs. Additionally, the candidate will monitor and evaluate vendor program performance, including performance settlements, connecting actual results to original expectations and broader enterprise strategies, and making recommendations on contract terms while supporting internal and external stakeholders.

Requirements

Bachelor’s degree in actuarial science or related area.
Four (4) years related actuarial experience.
Earned at least six (6) exam components (exam, validation by educational experience, modules, final assessment) toward the attainment of the ASA designation and plans to continue making timely progress to obtain ASA credential.
Knowledge of actuarial methods and practices.
Strong analytical and critical thinking skills.
Ability to effectively utilize email, presentations and verbal communication to convey the intent and methodology of their work, and the broader implications of results to actuarial and non-actuarial audiences.
Ability to apply appropriate planning and prioritization techniques.
Proficient in data management, including data extraction, data analysis and drawing conclusions.

Nice To Haves

At least one year of BCN/BCBSM actuarial experience or comparable experience at another company.

Responsibilities

Initiation, organization and analysis of non-routine actuarial research used for analysis including but not limited to valuations, financial reporting and forecasting, trend analytics, and pricing.
Utilize advanced actuarial concepts to design and perform complex analysis, conduct research and make recommendations to leadership.
Ensure completeness, accuracy and appropriateness of all insurance data used in the production of outputs; recommend improvements to data as needed.
Independently recommend specific course of action; consider internal, external and customer impacts.
Independently communicate to stakeholders.
Define scope of major projects and coordinate completion.
Assess and implement efficiency enhancing processes where available.
Respond to requests from internal departments; prioritize and review work of peers for actuarial soundness.
Drive key department processes.
May provide technical guidance to and coordinate work less experience team members.
Remain current on actuarial techniques, seek development and improvement opportunities and understand corporate/cross-functional objectives and cultural beliefs.
Monitoring and evaluating vendor program performance including performance settlements with vendors, connecting actual results to original expectations and broader enterprise strategies.
Making recommendations on contract terms and supporting questions from internal and external stakeholders.