New

Actuarial Associate

Blue Cross Blue Shield Association
vision insurance, 401(k)
United States, Illinois, Chicago
Jan 18, 2025
The hiring range for this role is: 92,086.00 - 129,145.00 This is the lowest to highest salary we, in good faith, believe we would pay for this role at the time of this posting. We may ultimately pay more or less than the hiring range and this hiring range may also be modified in the future. A candidate's position within the hiring range may be based on several factors including, but not limited to, specific competencies, relevant education, qualifications, certifications, relevant experience, skills, seniority, performance, shift, travel requirements, and business or organizational needs.This job is also eligible for annual bonus incentive pay. We offer a comprehensive package of benefits including paid time off, 11 holidays, medical/dental/vision insurance, generous 401(k) matching, lifestyle spending account and many other benefits to eligible employees. Note: No amount of pay is considered to be wages or compensation until such amount is earned, vested, and determinable. The amount and availability of any bonus, commission, or any other form of compensation that are allocable to a particular employee remains in the Company's sole discretion unless and until paid and may be modified at the Company's sole discretion, consistent with the law. This role uses statistics, financial theory, mathematics, and basic financial and actuarial principles to provide analytical and technical actuarial support under the guidance of a Senior Actuary or Actuary. Work product affects management decisions as well as financial soundness. Responsible for demonstrating exam progress toward actuarial credentials to maintain enrollment in the Actuarial Study program. Provides the implementation, maintenance and detailed analysis of models and studies, which use actuarial principles for the purposes of pricing, underwriting, reserving, trend analyses, rating support, forecasting, and other actuarial functions, including peer review, as needed. Summarizes results and provides observations to assist with management decisions. Analyzes and quantifies the effects of new initiatives, proposals, environmental changes such as: laws/regulation, tax policy; trend; competitor, member, and provider behavior impacting FEP, FEDVIP, BCBSA, or Blue Plans, as appropriate. Determines the estimated actuarial impact. Provides technical actuarial assistance to internal customers or external customers (OPM, Congress, etc.), and Blue Plans upon request. Supports the Plan Trend Surveys and other BCBSA publications as requested. Progresses through the actuarial examination and credentialing process. Education Required: Bachelors Degree in Actuarial Science, Mathematics, Statistics, or related field. Experience Required: Minimum 5 years of experience in an actuarial or related position Preferred: Experience in a health actuarial position Certification Required: Minimum completion of 3 ASA (Associate of the Society of Actuaries) exam equivalents based on specifications in the Society of Actuaries' Education and Examination System. Knowledge, Skills, and Abilities Basic actuarial and related technical expertise in rating, underwriting, valuation, product development, trend analysis, forecasting, rate filings, financial statements, legislative analysis, policy development, and R&D projects Demonstrated technical skills with the Microsoft Office Suite are required, including Microsoft Excel Skilled in basic accounting and financial analysis Access, SAS, SQL, Visual Basic, R, or other programming skills Financial Responsibilities Revenue Responsibility: No Budget Responsibility: No People Management: No #LI-Hybrid