Blue Cross Blue Shield of Rhode Island

Actuary

US-Anywhere
+ 2 other locationsRemote
Finance & Insurance
Less than 5 years of experience
Job Overview by Ladders

Qualifications

  • Bachelor’s degree in Mathematics, Economics, or related field
  • Three to five years of actuarial experience
  • ASA Society of Actuaries designation
  • Advanced analytical skills for interpreting complex data
  • Good business acumen and political savvy

Responsibilities

  • Monitor and analyze the effectiveness of the existing rating formula
  • Develop statistical and actuarial models for rate and reserve adequacy
  • Design and write computer programs for data extraction
  • Prepare regulatory reporting requirements
  • Participate in department initiatives and projects

Benefits

  • Flexible work arrangements including in-office, hybrid, and remote options
  • Support for associate well-being and work/life balance
  • Opportunity to work with a highly visible role in a reputable organization
  • Involvement in vital pharmacy benefit management initiatives
  • Engagement in projects that influence pricing and forecasting strategies
Full Job Description

Pay Range:

$116,900.00 - $187,100.00 

Please email  if you are a candidate seeking a reasonable accommodation for the application and/or interview process.

Why this job matters:

The Actuary will support a broad range of actuarial and financial functions related to BCBSRI's pharmacy benefit programs. This highly visible role requires extensive analysis of pharmacy claims experience, drug utilization, cost trends, and financial performance to support pricing, forecasting, product strategy, and pharmacy benefit management initiatives.

What you will do:

  • Monitor, analyze, and report on the effectiveness of the existing rating formula.  Perform financial forecasting and trend analysis.

  • Develop statistical and actuarial models to assist in the analysis of rate and reserve adequacy.  Evaluate corporate loss reserves. 

  • Design and write computer programs to extract data from various databases.  Extract and analyze claims, enrollment, and general health insurance data.

  • Prepare regulatory reporting requirements.

  • Participate in department initiatives and projects.

  • Perform other duties as assigned.

What you need to succeed:

  • Bachelor’s degree in Mathematics, Economics, or related field, or an equivalent combination of education and experience

  • Three to five years actuarial experience

  • ASA Society of Actuaries designation

  • Ability to interpret and perform financial forecasting, statistical modeling, and trend analysis

  • Advanced analytical skills, with the ability to interpret and synthesize complex data sets

  • Good business acumen and political savvy

  • Knowledge of business process improvement techniques and strategies

  • Excellent verbal and written communications skills

  • Negotiation skills

  • Presentation skills

  • Decision-making skills

  • Good problem solving skills

  • Ability to interface with employees at all levels

  • Ability to effectively navigate ambiguous situations with limited direction

  • Excellent organizational skills and ability to successfully prioritize multiple tasks

  • Ability to handle multiple priorities/projects

The extras:

  • Experience in the health insurance industry

     

    Location:
    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 week
    • Hybrid: onsite 2-4 days per week
    • Remote: 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, Massachusetts, North Carolina, Oklahoma, Rhode Island, South Carolina, Texas, Virginia
       

    About Blue Cross Blue Shield of Rhode Island

    Blue Cross Blue Shield of Rhode Island is a non-profit health insurance company that provides medical, dental, and vision coverage to individuals and businesses in Rhode Island. The company also offers Medicare Advantage plans and prescription drug coverage. Blue Cross Blue Shield of Rhode Island was founded in 1939 and is headquartered in Providence, Rhode Island.
    Learn more about Blue Cross Blue Shield of Rhode Island
    Size
    800 employees
    Industry
    Founded
    1939

    Similar Jobs

    More Jobs at Blue Cross Blue Shield of Rhode Island

    More Finance & Insurance Jobs

    Find similar Actuary jobs: