Senior Actuarial Analyst - P&C

Blue Cross Blue Shield of Michigan•Lansing, MI

5d•$90,000 - $120,000

About The Position

This position supports the company’s Actuarial functions, including pricing, reserving, reinsurance analysis, and forecasting. Additional work includes management reporting, competitor analysis, strategy support, financial data calls, and ad hoc projects. The role requires understanding insurance and business operations within Emerging Markets, including AF Group and COBX. The Senior Actuarial Analyst independently gathers and organizes data, performs analyses, develops recommendations, and presents findings for actuarial and business purposes. The position leads rate reviews and supports rate filings, monitors filing quality and schedules, and responds to state insurance department questions. It also provides reporting and projection oversight, conducts quarterly reserve analyses, supports reinsurance and capital management work, maintains pricing tools, and helps deploy underwriting predictive models. The analyst works with minimal supervision and exercises significant discretion and independent judgment. The position also serves as a liaison with other departments and outside consultants, represents Actuarial on corporate projects, and provides guidance and mentorship to analysts and interns. A bachelor’s degree and at least four CAS examinations are required, as is at least three years of actuarial experience, including two years in the P&C industry. The estimated pay range is $90,000 to $120,000. Work is performed in an office setting with no unusual hazards.

Requirements

Bachelor’s degree required; actuarial science, mathematics, or a related field preferred.
Successful completion of at least four CAS examinations required.
At least three years of actuarial experience required, including at least two years in the P&C industry.
Excellent presentation and facilitation skills.
Demonstrated leadership and project management abilities.
Ability to make competent, independent decisions.
Excellent oral and written communication skills, including the ability to explain actuarial concepts and conclusions to non-actuaries.
Ability to manage multiple priorities, establish workflows, and meet deadlines.
Knowledge of actuarial principles and practices, underwriting and marketing guidelines, and claims practices.
Ability to perform actuarial and statistical analyses.
Strong working knowledge of Microsoft Office Suite.
Ability to create financial and actuarial models with little direction.
Ability to work independently and as part of a team.
After attaining ACAS, maintain CAS good standing, meet annual continuing education requirements, attest as required, and comply with the Code of Professional Conduct and relevant actuarial standards of practice.

Nice To Haves

Programming skills in SQL and/or statistical software such as R or Python.
Pursuit of the FCAS designation is optional.

Responsibilities

Gather and organize data and independently perform analyses for pricing, loss reserving, product development, reinsurance, capital management, and other financial or business purposes.
Make recommendations and present findings to appropriate audiences.
Complete rate review analyses, including calculating rate indications and actuarial assumptions, and communicate results to underwriting leadership in writing and presentations.
Lead rate review meetings and facilitate decisions.
Compile rate pages and rate filing support for workers’ compensation and/or other lines of business.
Respond to questions or objections from state insurance departments.
Oversee the rate filing process, including monitoring schedules and coordinating timelines and procedures with Product Filings.
Monitor the quality of rate filings.
Provide commentary for reports, monitor management reporting metrics, and report unexpected variances.
Lead development of new departmental reports and tools.
Combine data from multiple sources to meet financial data call reporting requirements; use bureau tools and forms to validate and submit data.
Research and resolve rating bureau inquiries, criticisms, and error reports related to financial data calls.
Oversee premium and loss projections, work with leadership on assumptions, document the assumptions, review projection files for accuracy, and communicate results.
Perform quarterly reserve analyses, identify loss trends, and investigate underlying drivers.
Maintain and update Large Account Pricing tools; work with developers, IT, and Data Analytics; and support users with technical needs and referral guidance.
Perform ad hoc projects with little direction.
Work with the field on deployment of underwriting predictive models.
Act as a liaison for the Actuarial department with other departments and represent Actuarial on corporate projects.
Work with outside actuaries and/or consultants on projects.
Assist with reinsurance studies, including pricing and commutation studies.
Assist with Capital Model maintenance, support the Capital Management Committee, and develop and maintain risk-adjusted performance metrics.
Provide guidance and mentor other analysts and interns.
After attaining the ACAS designation, maintain good standing with the CAS, complete annual continuing education requirements, attest as required, and follow the Code of Professional Conduct and relevant actuarial standards of practice.