Senior Actuarial Analyst III (Remote - AZ)

Awarded a Healthiest Employer, Blue Cross Blue Shield of Arizona aims to fulfill its mission to inspire health and make it easy. AZ Blue offers a variety of health insurance products and services to meet the diverse needs of individuals, families, and small and large businesses as well as providing information and tools to help individuals make better health decisions.

At AZ Blue, we have a hybrid workforce strategy, called Workability, that offers flexibility with how and where employees work. Our positions are classified as hybrid, onsite or remote. While the majority of our employees are hybrid, the following classifications drive our current minimum onsite requirements:

• Hybrid People Leaders: must reside in AZ, required to be onsite at least twice per week

• Hybrid Individual Contributors: must reside in AZ, unless otherwise cited within this posting, required to be onsite at least once per week

• Hybrid 2 (Operational Roles such as but not limited to: Customer Service, Claims Processors, and Correspondence positions): must reside in AZ, unless otherwise cited within this posting, required to be onsite at least once per month

• Onsite: daily onsite requirement based on the essential functions of the job

• Remote: not held to onsite requirements, however, leadership can request presence onsite for business reasons including but not limited to staff meetings, one-on-ones, training, and team building

Please note that onsite requirements may change in the future, based on business need, and job responsibilities. Most employees should expect onsite requirements and at a minimum of once per week.

PURPOSE OF THE JOB

• Conducts or supervises projects related to pricing or forecasting competitive premium levels for group & individual products.

QUALIFICATIONS

REQUIRED QUALIFICATIONS

Required Work Experience

• For grade level 27, no experience is required
• For grade levels 28 and higher, 2 years of experience in an actuarial role

Required Education

• Bachelor's Degree in actuarial science, business, mathematics, statistics, economics or related field of study

Required Licenses

• N/A

Required Certifications

• N/A

PREFERRED QUALIFICATIONS

• 2+ years of experience working for a healthcare organization / health insurer
• 2+ years of experience in an actuarial role
• 2+ years of experience assisting in the development group premium rates
• 1+ year of experience programming pricing engines with Optum Step Wise tool

• Bachelor's Degree in actuarial science, business, mathematics, statistics, economics or related field of study

• N/A

Preferred Certifications

• Associate, Society of Actuaries (ASA)
• Member of the American Academy of Actuaries (MAAA)

ESSENTIAL JOB FUNCTIONS AND RESPONSIBILITIES

ACTUARIAL ANALYST I – II // Associate Actuary II - III

• Under general supervision, develop and modify Step Wise formulas.  Formulas will be used to develop small and large group premium rates, invoicing, and compliance with federal and state regulations.
• Under general supervision, develop pricing factors (age/gender, benefit, utilization, area, etc.) used by group Underwriting department in the Step Wise tool.
• Under general supervision, analyze benefit changes, prepare competitive analysis and summarize results
• Under general supervision, develop sensitivity testing analysis and summarize results to management
• Under general supervision, complete financial forecast scenario modeling to evaluate and ensure profitable business segments
• Display initiative in research beyond the specific assignment
• Meaningfully contribute to the area’s workload, considering volume and complexity.

LEAD ACTUARIAL ANALYST I – II / Lead Associate actuary I - II

• Manage workload with minimal supervisory instructions, limited project management assistance, and limited review of results, beyond pre-release peer review.
• Provide support to business partners (Underwriting and Product development) with limited supervision

• Communicate (both verbally and in writing) and interpret results, recommendations and abstract concepts to internal and external customers.  Anticipate and address possible customer questions and concerns.
• Prepare, submit and or present recommendations to the