Reporting to the Director of Large Group Pricing, the role of Senior Actuarial Analyst will be primarily responsible for pricing factor development and rating model oversight. This role will be heavily involved in automating factor updates and improving the accuracy of our pricing model to help us stay ahead of our competition, while attaining critical leadership signoffs in a timely manner. They will also be active in our pricing cycles, ensure consistency in our financial projections, and be a significant contributor to analytics related to optimizing our profitability. The Large Group Pricing team is very collaborative, giving this position well-rounded exposure to all actuarial functions supporting our Core, Premier, GMAPD, and ASO lines of business. The Senior Actuarial Analyst will have the opportunity to mentor other analysts and manage workflows, and will build valuable relationships with our Corporate Actuarial Rating Model team, Underwriting, and Product.
Understands the core principles and functionality of decision, descriptive and predictive analytic methods including forecasting, statistical and machine learning techniques.
Has knowledge of the requisite analytic tools and techniques and can apply them to new situations under direction of supervisor.
Can train lower level analysts on how to update and apply these advanced analytic techniques. Can explain purpose and basic functionality of these advanced analytic techniques to audiences outside of their job function.
Acts as the subject matter expert in the data areas of claim, premium, membership, and/or risk score assignment.
Conduct and develops analysis, assess risk and population risk score sand 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.
Coordinates, prepares, perform and audits 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.
Maintains documentation or actuarial analysis and models as well as provides consultation and clarification on actuarial models and other Actuarial work products Develops evaluation and financial reporting standards for internal and external reports.
Other duties as assigned.
Knowledge and Experience
Requires college degree with at least a minor in mathematics, statistics, computer science or equivalent business experience.
May have an ASA designation or has completed the majority of the courses to complete the ASA designation
Requires advance knowledge of job area obtained through professional experience and advanced education.
Typically requires a minimum of 3 to 5 years of professional actuarial experience.
About Company: At Blue Shield of California we are parents, leader, students, visionaries, heroes, and providers. Everyday we come together striving to fulfill our mission, to ensure all Californians have access to high-quality health care at a sustainably affordable price. For more than 80 years, Blue Shield of California has been dedicated to transforming health care by making it more accessible, cost-effective, and customer-centric. We are a not-for-profit, independent member of the Blue Cross Blue Shield Association with 6,800 employees, more than $20 billion in annual revenue and 4.3 million members. The company has contributed more than $500 million to Blue Shield of California Foundation since 2002 to have a positive impact on California communities. Blue Shield of California is headquartered in Oakland, California with 18 additional locations including Sacramento, Los Angeles, and San Diego. We're excited to share Blue Shield of California has received awards and recognition for - LGBT diversity, quality improvement, most influential women in corporate America, Bay Area's top companies in volunteering & giving, and one of the world's most ethical companies. Here at Blue Shield of California, we're striving to make a positive change across our industry and the communities we live in - Join us!
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