What are the responsibilities and job description for the Actuarial Analyst III position at Horizon Blue Cross Blue Shield of New Jersey?
Horizon Blue Cross Blue Shield of New Jersey empowers our members to achieve their best health. For over 90 years, we have been New Jersey’s health solutions leader driving innovations that improve health care quality, affordability, and member experience. Our members are our neighbors, our friends, and our families. It is this understanding that drives us to better serve and care for the 3.5 million people who place their trust in us. We pride ourselves on our best-in-class employees and strive to maintain an innovative and inclusive environment that allows them to thrive. When our employees bring their best and succeed, the Company succeeds.
This is the senior level analyst position within Actuarial department. Includes all aspects of actuarial work, as related to Stop Loss and Level Funded groups. Responsible for pricing, UW support, reserving and forecasting for both Specific and Aggregate Stop Loss, as well as Level Funding.
Responsibilities
Salary Range
$86,000 - $117,390
This compensation range is specific to the job level and takes into account the wide range of factors that are considered in making compensation decisions, including but not limited to: education, experience, licensure, certifications, geographic location, and internal equity. This range has been created in good faith based on information known to Horizon at the time of posting. Compensation decisions are dependent on the circumstances of each case. Horizon also provides a comprehensive compensation and benefits package which includes:
This job summary has been designed to indicate the general nature and level of work performed by colleagues within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of colleagues assigned to this job.
Horizon Blue Cross Blue Shield of New Jersey is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, protected veteran status or status as an individual with a disability and any other protected class as required by federal, state or local law. Horizon will consider reasonable accommodation requests as part of the recruiting and hiring process.
This is the senior level analyst position within Actuarial department. Includes all aspects of actuarial work, as related to Stop Loss and Level Funded groups. Responsible for pricing, UW support, reserving and forecasting for both Specific and Aggregate Stop Loss, as well as Level Funding.
Responsibilities
- Design, perform or support trend analysis
- Perform pricing, UW support, reserving and forecasting for both Specific and Aggregate Stop Loss, as well as Level Funding.
- Perform or support forecasting
- Develop or support the development of pricing models and support pricing requests which may include, benefit adjustment factors, fee schedule analysis, new product pricing, etc.
- Collect and analyze data to use for financial and utilization analysis, reporting, and monitoring (including IBNR)
- Develop or support the development of pricing models and support pricing requests which may include rate filings, benefit adjustment factors, fee schedule analysis, new product pricing, etc.
- Partner with internal customers to develop creative solutions and strategies, uncover opportunities and minimize risks
- Support corporate strategies and business plan development for membership growth & financial strength
- Lead meetings with business partners providing transparency in and an understanding of the actuarial analyses and results
- Bachelors degree, required preferably within Mathematics, Statistics, Actuarial Sciences or a related field from an accredited college or university.
- Requires 4 years of Actuarial and/or statistics experience.
- Prefer Associate level in the Society of Actuaries (ASA)
- Experience in health insurance is preferred.
- Stop Loss or Level Funded experience highly preferred.
- ASA preferred
- Excellent knowledge of features of Stop Loss product, from both Actuarial and UW perspective.
- Knowledge of the Reinsurance industry
- Requires expert knowledge of Excel.
- Prefers working knowledge of Access or other database application.
- Experience with SAS or other programming language
- Requires strong working knowledge of data analysis and Actuarial principles.
- Requires in depth knowledge of the healthcare industry.
- Requires excellent oral and written communication skills.
- Requires strong analytical thinking.
- Requires strong mathematical skills and statistical analysis abilities.
- Requires good judgment and problem solving skills.
- Requires strong leadership skills
Salary Range
$86,000 - $117,390
This compensation range is specific to the job level and takes into account the wide range of factors that are considered in making compensation decisions, including but not limited to: education, experience, licensure, certifications, geographic location, and internal equity. This range has been created in good faith based on information known to Horizon at the time of posting. Compensation decisions are dependent on the circumstances of each case. Horizon also provides a comprehensive compensation and benefits package which includes:
- Comprehensive health benefits (Medical/Dental/Vision)
- Retirement Plans
- Generous PTO
- Incentive Plans
- Wellness Programs
- Paid Volunteer Time Off
- Tuition Reimbursement
This job summary has been designed to indicate the general nature and level of work performed by colleagues within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of colleagues assigned to this job.
Horizon Blue Cross Blue Shield of New Jersey is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, protected veteran status or status as an individual with a disability and any other protected class as required by federal, state or local law. Horizon will consider reasonable accommodation requests as part of the recruiting and hiring process.
Salary : $86,000 - $117,390