Job Description:

Bring your drive for excellence, team orientation and customer commitment to Independence; help us renew and reimagine our business and shape the future of health care.  Our organization is looking to diversify, grow, innovate and serve, and we are looking for committed, empowered learning-oriented people to join our team.  If this describes you, we want to speak with you.

Description

The Assistant Actuary I performs both routine and ad hoc actuarial and statistical analyses to estimate financial outcomes.  Applies knowledge of mathematics, probability, statistics, and principles of business to complete health calculations. 

Duties – duties will vary depending on unit (Pricing, Medical Cost Analysis, Reserving/Planning)

Pricing (Commercial & Medicare)

1.     Works on pricing research projects, including experience and trend analyses, book of business studies, CMS revenue and risk score analysis, etc.

2.     Works with team to develop rating information packages to be delivered to underwriting and other internal customers.

3.     Works on rate filings for State Insurance Departments, CMS and other regulatory agencies.

4.     Assists in developing processes and methods used in performing analysis on special projects such as demographic factors, competitive analysis and other as required.

5.     Performs other duties and special projects as required.

 Medical Cost Analysis

1.     Prepares analysis and monitors claims trends for each line of business.  Segregates cost, utilization, mix of services, coverage types and effects of benefit and demographic changes.

2.     Designs and prepares reports of medical cost results, both historical and projected. 

3.     Completes valuations of medical cost initiatives and tracks performance against goals.

4.     Assists in development of trend projections.

5.     Performs other duties and special projects as required.

 Reserving/Planning

1.     Works on the development, calculations and monitoring of accruals, liabilities and reserves for various lines of business and groups. 

2.     Assists in the development of reserving methods and calculates reserves for products and the development of financial liability models for various lines of business.

3.     Oversees or compiles data, develops and calculates expected loss ratios for financial settlements.

4.     May assist with preparing the actuarial portions of financial statements and federal income tax returns and compiles, evaluates and certifies statistical data.

5.     Performs other duties and special projects as required.

• Bachelors degree in Mathematics, Statistics, Economics, Actuarial Services, or related field or equivalent work experience.  Two to five years of experience is required.


• Completion of ASA designation required for Assistant Actuary I and a minimum of three years of experience.


• Solid mathematical background including experience working with risk models, actuarial or mathematical analysis, and using automated or statistical analysis tools.  Proficiency in Excel required.  Demonstrated experience using SQL server a plus. Excellent organizational, analytical, and communication skills are required


• Independence has implemented a “Hybrid of Choice” model which provides our associates with the flexibility to choose whether to work remotely, work in the office every day, or work in the office on certain days at their discretion.  However, management may require our associates to work from Independence’s physical office locations on certain occasions. This role is designated as a role that fits into the “Hybrid of Choice” model. While associates may work remotely, the work must be performed in the Tri-State Area of Delaware, New Jersey or Pennsylvania.


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  Independence Blue Cross is committed to the health, safety, and well-being of our associates. In support of that focus, Independence expects all new hires to be up to date with COVID-19 vaccination and booster*. Independence’s policy provides reasonable accommodations for medical or religious reasons as required by law. The process for requesting a reasonable accommodation is communicated to candidates when they are offered employment.

  
  

  * To be considered “up to date” with COVID-19 vaccination and booster, individuals must have received an initial series of the vaccine (whether a 1-dose or 2-dose series) and timely receive a booster once eligible.  Individuals not yet eligible to receive a booster shot will be required to timely obtain a booster once eligible. 

  
  


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