The Actuary is directly involved with the gain and loss equation for the Enterprise. The primary responsibilities include those of rate making for risk assumption products and the setting of liabilities for those same products at all financial reporting points in time. The former determines the parameters for profitability for the Enterprise via the cost-based alignment of expected costs vs. product price. The latter is a score keeping function that aligns the same two issues in retrospect.
EDUCATION
Bachelor's degree in Mathematics, Actuarial Science, Statistics, Economics, Computer Science, Business or other quantitative-related field.
LICENSING/CERTIFICATION
Associate in the Society of Actuaries required.
Member in the American Academy of Actuaries required.
EXPERIENCE
Minimum ten (10) years' actuarial experience, with majority of experience in healthcare and with demonstrated progression in the Actuary track.
Proficient experience in the use of relational databases, statistical packages, spreadsheet and/or database applications.
Experience in rate-making, valuation of assets and liabilities, and experience studies for multiple product types.
Experience leading Division/Enterprise project(s), including managing others throughout the project (specifically Data Analysts, Actuarial Analysts, Actuaries, and/or interns).
Possess advanced knowledge of the healthcare financing industries with emphasis on managed care delivery models.
Above average reviews as an Actuary.
ESSENTIAL SKILLS & ABILITIES
Mathematical Reasoning Skills
Critical Thinking
Detail-Oriented
Oral & Written Communication Skills
Microsoft Excel Data Analysis
Microsoft Access VBA
Stress Management
Analytical Problem Solving
Sound Judgment
Self Motivation
Mentor Direct Reports
Leadership
Time Management
• Active Listening
• Analytical Problem Solving
• Business Compliance
• Collaborative Communications
• Continuous Learning
• Critical Reasoning
• Critical Thinking
• Cross-Functional Planning
• Data Analysis
• Deductive Reasoning
• Economics
• Interpersonal Relationship Management
• Mathematical Reasoning
• Mathematics
• Microsoft Access VBA
• Microsoft Excel
• Microsoft Office
• Microsoft Power Business Intelligence (BI)
• Microsoft PowerPoint
• Oral Communications
• Reading Comprehension
• Researching
• R Programming
• Sound Judgment
• Statistical Analysis Software (SAS)
• Structured Query Language (SQL)
• Tableau (Software)
• Time Management
• Written Communication
• Collaborates with internal and external partners to solve complex issues.
• Compiles, analyzes, and/or develops essential data for Enterprise objectives.
• Designs, tests, and evaluates models to further Enterprise goals, including minimizing risk and/or maximizing profitability.
• Develops controlled processes and reliable calculations for liability estimates (IBNR, risk adjustment, provider incentive payments, etc.).
• Estimates projections for pricing, reserves and/or cash flow purposes, especially to determine rate accuracy.
• Forecasts product performance and analyzes variances from previous forecasts to identify emerging trends.
• Manages projects as requested, especially as they relate to Enterprise objectives and Actuarial Division improvements.
• Mentors and develops Actuaries, Actuarial Analysts, and Data Analysts that work alongside the Senior Actuary. This includes helping supervise work projects, as assigned.
• Presents actuarial models, exhibits, and forecasts to internal and external customers. Represents the Actuarial Division and Actuarial Profession well.
• Provides actuarial advice to upper-level management. Communicates recommendations clearly and confidently.
• Provides timely and accurate information that demonstrates compliance with federal and state regulations.
• Represents the Actuarial Division with competency and professionalism to internal and external stakeholders.
• Serves as Division expert on all actuarial matters related to assigned product(s). Will be go-to person within the Enterprise when Actuarial services are requested.
• Supports development of new products and services for the Enterprise.
• Works with and acts as a mentor to Data Analysts and Actuarial Analysts, and helps maintain an environment that encourages learning.
This position is identified as level three (3). This position must ensure the security and confidentiality of records and information to prevent substantial harm, embarrassment, inconvenience, or unfairness to any individual on whom information is maintained. The integrity of information must be maintained as outlined in the company Administrative Manual.
Segregation of duties will be used to ensure that errors or irregularities are prevented or detected on a timely basis by employees in the normal course of business. This position must adhere to the segregation of duties guidelines in the Administrative Manual.
Regular
ADA Requirements
1.1 General Office Worker, Sedentary, Campus Travel - Someone who normally works in an office setting or remotely and routinely travels for work within walking distance of location of primary work assignment.
Arkansas Blue Cross and Blue Shield provides reliable insurance plans to Arkansans while being a valuable community partner. We live here, work here and raise our families here – we are dedicated to Arkansas and to you.
We work hard to improve the health, financial security and peace of mind to the members and communities we serve.
Arkansas Blue Cross and Blue Shield is an Independent Licensee of the Blue Cross and Blue Shield Association.
