Actuary

Blue Cross & Blue Shield of Rhode Island
Providence, RI Full Time
POSTED ON 7/27/2022 CLOSED ON 10/14/2022

Job Posting for Actuary at Blue Cross & Blue Shield of Rhode Island

Schedule: Remote, Hybrid, In-OfficeCompensation: $88,100.00 - $132,100.00  Jump into the new world of health insurance:At Blue Cross & Blue Shield of Rhode Island (BCBSRI), our business is healthcare. But our focus is on improving lives. Be part of a team that is large enough to make a difference but small enough to be innovative. Work in a rapidly changing field. Take a chance to be creative. Move outside the status quo. Shape new ideas with the power of a national brand behind you. Join others who know diversity is strength:We appreciate and celebrate everything that makes us unique: age, national origin, citizenship status, perspectives, experiences, physical or mental disability, military status, race, ethnicity, religion, gender, sexual orientation, gender identity and/or expression. Our diversity strengthens us as an organization and helps us better serve an increasingly diverse Rhode Island population. Why this job matters:The Actuary supports a broad set of actuarial functions for BCBSRI’s fast-growing Medicare Advantage line of business.  This is a highly visible role that will require you to perform thorough, data-driven analysis and collaborate with multiple stakeholders to ensure that rate setting, and financial reporting are sound and align with organizational objectives.   What you will do:Engage in all aspects of the annual Medicare Advantage bid process, including:Updating and validating internal pricing models and making enhancements as needed to accommodate changes to portfolio structure and introduction of innovative benefitsExamining historical experience to set pricing assumptionsPresenting analysis to business partners to support pricing strategy and product designDeveloping bid submissions efficiently and in accordance with CMS requirementsResponding to desk review and audit questionsSupport development and implementation of rates for group plansProvide analytic and consultative support for financial forecasting, provider contracting, trend management, and PBM contract oversightSupport accounting functions involving risk-adjusted revenue and Part D paymentsAssist in the preparation of regulatory reporting, including MLR and DIR reportingRepresent the Medicare actuarial team in enterprise data management projectsPromote best practices for documentation and support knowledge sharing across the Actuarial department What you need to succeed:A combination of education and experience3 – 5 years of relevant actuarial experienceAssociate of the Society of ActuariesProficient in programming (e.g. SAS, SQL, VBA, and/or Python)The ideal candidate is a team player who is eager to make lasting contributions and demonstrates strength in key areas:Analytic Skills: Synthesize and draw inferences from complex data to shape strategy and inform operationsBusiness Acumen: Understand connections across the business and enable sound decision-making by presenting stakeholders with compelling insights that carefully consider risks and opportunitiesIntellectual Curiosity: Strive to become an expert by pursuing learning opportunities and taking on new challenges Sense of Ownership: Improve current processes and champion initiatives that allow the Actuarial team to optimize its capabilitiesRelationship Building Skills: Manage competing priorities and partner with stakeholders to find solutions that advance organizational goalsNot sure if you meet the qualifications for the job? Reach out to your HRBP to discuss your interest and experience! The extras:Medicare Advantage and Part D experienceLocation:BCBSRI is headquartered in downtown Providence, conveniently located near the train station and bus terminal. We actively support associate well-being and work/life balance and offer the following schedules, based on role:In-office: onsite 5 days per weekHybrid: onsite 2-4 days per weekRemote: onsite 0-1 days per week. Permitted to reside in the following states, pending approval from the Human Resources Department: Arizona, Connecticut, Florida, Georgia, Louisiana, Maine, Massachusetts, Nevada, New Hampshire, North Carolina, Pennsylvania, Rhode Island, South Carolina, Texas, VirginiaOther important information:Blue Cross & Blue Shield of Rhode Island has a COVID-19 vaccination requirement for all associates. Offers of employment are contingent on being fully vaccinated for COVID-19 or through an approved accommodation request for either a medical or religious exemption. Requests for accommodations can be made to a representative in the human resources department upon receiving an offer.

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