Rating & Underwriting Analyst II at BCBSM
Posted in Insurance 30+ days ago.
This job brought to you by eQuest
Location: Detroit, Michigan
Evaluate and assess risks to safeguard the financial assets of the company.
- Understand and protect the financial health of the company by making sound business recommendations and decisions.
- Calculate renewal rates using appropriate rating formulas and procedures and analyze projected financial impacts.
- Validate that the final renewal rates and associated packaging is correct and ensuring quality in rate releases.
- Calculate quarterly and annual settlements & prepare ERISA reports.
- Create quotes for customers using demographic characteristics and/or claims experience. Analyze participation levels, contribution methodology, industry classification and other carrier information available. Apply knowledge of national and local competitive information to rating decisions.
Provide support to Senior Rating & Underwriting Analysts in explaining the components of rate changes and financial information to internal and external stakeholders (customers, sales, agents, consultants and employer groups).
- Apply underwriting and rating policies when reviewing exception requests and prepare recommendations to leaders that includes financial and operational impacts.
- Respond to internal and external requests for specific analysis regarding customers need to better understand the financing of health care in conjunction with an employer’s benefit offerings.
- Develops special analysis to illustrate financial trends and it’s impact on specific group costs and expenses.
- Provide support to new underwriters related to underwriting, rating, systems and departmental processes.
- Other duties as assigned.
- Bachelor's Degree with a major in Finance, Accounting, Business Administration, Economics, Mathematics, Statistics or related field required.
- Two (2) years experience in an Underwriting, Pricing, Accounting or Financial Analysis position.
- Ability to analyze financial data and prepare summary reports required.
- Good understanding of mathematics principals and their practical applications required.
- Good verbal and written communication skills required.
- Strong organizational skills including the ability to handle multiple tasks and timelines.
- Knowledge of Microsoft Excel, Word, Powerpoint required. MS Access & Visual Basic preferred.
- Knowledge of rating systems and mainframe applications preferred but not required.
- Knowledge of sales distribution channel preferred but not required.
- Knowledge of Federal and State laws and regulations related to health care delivery systems (HMO, PPO, ACO, etc.) preferred but not required.