Your Role
The Large Group Pricing team is responsible for setting accurate rates and forecasting future performance for fully insured employer groups. The Actuarial Analyst, Senior will report to the Director or Manager of Large Group Pricing. In this role you will be responsible developing our rating factors, including continually monitoring and improving the accuracy of our projections. You will be the main point of contact for our underwriting stakeholders, providing hands-on support and guidance with quoting. This role will also be responsible for reviewing and filing all required regulatory data in a timely manner.
Your Work
In this role, you will:
- Understand the core principles and functionality of decision, descriptive and predictive analytic methods including forecasting, statistical and machine learning techniques
- Conduct and develop analysis, assess risk and population risk scores and assignment, develop pricing and trends, assess changes in benefit designs, develop reserves, perform forecasting, analyze provider reimbursement terms and/or evaluates actuarial risk related analysis
- Coordinate, prepare, perform and audit actuarial analyses to assist in the development of complex actuarial formulations leading to the recommendation of pricing, trending, reserving, provider reimbursement and/or risk assessment strategies
- Perform data exploration using a combination of statistical programming languages (including, but not limited R, Python, SQL, SAS) and deploys predictive analytics and machine learning techniques to improve risk prediction, improve reserve, trend and financial forecasting in a manner that is actuarially sound, and enable real-time results and operational efficiencies
- Develop evaluation and financial reporting standards for internal and external reports
- Drive efficiency through simplification and automation of pricing factor updates and other processes
- Maintain and build dashboards and other visualization tools to discover patterns, send out alerts, and make recommendations to improve pricing accuracy
- Use machine learning and other analytical techniques to evaluate new and existing pricing factors
- Present findings, make recommendations, and obtain critical rating model signoffs from senior leaders in actuarial and underwriting
- Mentor and train junior analysts to ensure knowledge and skillset shared amongst team members
Your Knowledge and Experience
- Requires a bachelor's degree with at least a minor in mathematics, statistics, computer science or equivalent business experience
- Requires a minimum of 3 years of professional actuarial experience
- Requires extensive experience coding with SQL, SAS, or other programming language
- Requires experience with regression, machine learning, or other complex models
- Requires evidence of customer-facing model or dashboard builds
- Requires comfort presenting ideas and making recommendations to senior leadership
Pay Range:
The pay range for this role is: $ 99000.00 to $ 148500.00 for California.
Note:
Please note that this range represents the pay range for this and many other positions at Blue Shield that fall into this pay grade. Blue Shield salaries are based on a variety of factors, including the candidate's experience, location (California, Bay area, or outside California), and current employee salaries for similar roles.
