CareFirst Careers

Sr. Actuarial Assistant

Resp & Qualifications

PURPOSE: Oversees the accurate and timely development, analysis, and reporting of IBNR’s , to management within critical time constraint.  Trains new and junior staff on the calculation and use of the IBNR models.  Provides feedback on new and junior staff’s IBNR picks.  This position assists in the development of valuation policy recommendations to actuarial management.  This position assists in the preparation as well as overseeing junior and new staff on the preparation of  Statutory NAIC Insurance Blank Schedules as well as numerous Regulatory Reports which are submitted to the various Insurance Departments in the states and jurisdictions in which we sell business.  Reviews the schedules and regulatory reports of new and junior staff.  This position is also responsible for developing various trend reports, as well as ad-hoc financial and actuarial analyses.  Assists new and junior staff on the development of ad-hoc financial and actuarial analyses.  Checks to ensure the assumptions have been properly reflected in the various analyses by new or junior students.  This position oversees the preparation of scenarios needed to support the Plan and Forecast recommendations to senior management. This position oversees modeling of the Health Care Reform MLR Rebates, as well as the completion of filings to support the MLR Rebates.  This position develops any additional reports required to support both internal and external customers.

PRINCIPAL ACCOUNTABILITIES:
Include but are not limited to the following:

1. IBNR/Trend/Valuation:
Responsible for oversight of the development and extensive analytical review of IBNR, trend and valuation work in support of valuation and trend functions which would be performed by new or junior staff.  This includes supporting the team by providing feedback on their various IBNR picks, trend and valuation projects, working with other areas within the Company to understand the financial implications of observed results, producing presentations and assisting junior staff in the preparation of presentations for senior management and communicating status of deliverables to the department management.  Additionally, it includes coordinating and assisting in the creation and design of IBNR and financial models used to analyze and generate information.  The types of analyses performed include complex financial analysis, trend analysis and recast analysis.  This also involves coordinating the delivery of various ad-hoc reports related to the financials to explain emerging patterns which need to be reflected in future pricing decisions which can have huge impacts in the profitability of our business.  This covers all areas of the Company, i.e. Indemnity and HMO.

2.   NAIC Insurance Blank Schedules, Regulatory Reports and Forecast/Financial Plan/MLR Rebates
Responsible for preparation, review and oversight of assigned NAIC Insurance Blank Quarterly and Annual Statement Schedules by junior staff which report various financial results to the Insurance Departments in jurisdictions in which we do business. Assist and oversee the preparation of the Actuarial Memorandums and Actuarial Opinions as to the adequacy of the Liabilities that the company holds for signature by the Valuation Actuary by junior staff. Assist in preparing the Memorandums and Opinions for review by the Board of Directors. Prepare and oversee the preparation of the Regulatory Reports which the company must file with the various Insurance Departments in jurisdictions in which we do business. Ensure that the financial results are correctly interpreted in these reports. Consult with the Finance Department and our External Auditors on the appropriate treatment of new items. (There are roughly 50 of these regulatory reports that we must file each year.)  Run scenarios and oversee the running of scenarios by junior staff and assist in the recommendation of assumptions and of the Financial Plan to Senior Management. Assist in the preparation as well as oversee junior staff in preparing updates for the interim Forecasts to advise Senior Management as to how the company is performing against Plan. Update MLR Rebates YTD accruals as well as future year forecasts

3.   Ad-Hoc Financial Analysis: Overseeing the development by junior staff and releasing numerous financial analysis reports for upper management.  This includes, but is not limited to, analyses of recast vs. original and sources of variance between actual and expected for IBNR’s, trend, deductible leveraging and other liabilities, reserves and trends.  This involves assisting junior staff in the examination and interpretation of data, working with other areas of the Company, and presenting and explaining emerging patterns and analyses to senior management.  This also involves a working knowledge of types trends and the ability to coach junior staff on all aspects of Ad-hoc analysis.  Also responsible for working with junior staff in coordinating, developing and producing reports and information in a timely, accurate and efficient fashion for upper management.  This includes helping junior staff interpret the request, determining the information source, determining or developing the methodology to complete the request, and directing the Analysts in completing in the time frame determined.  It is expected that this position is able to reduce complex concepts into terms that various members of senior management can easily understand.

QUALIFICATION REQUIREMENTS:

Required: Position requires an individual w BS or BA in Actuarial Science, Finance, Mathematics or a math-related field and 3-5 years of health insurance, actuarial valuation and financial reporting experience.

Abilities/Skills:  Familiarity with actuarial, mathematical and statistical procedures and practical applications.  Highly analytical and a general understanding of health insurance products and markets.  Strong conceptualization skills. Solid interpersonal, verbal & written communication skills, to the point where actuarial information can be completely & concisely presented to both an actuarial and non-actuarial audience.

Preferred:   3 exams   

#LI-KL1

PHYSICAL DEMANDS:

The associate is primarily seated while performing the duties of the position.  The hands are regularly used to write, type, key and handle or feel small controls and objects.  The associate must have sight.

The physical demands described here are representative of those that must be met by an associate to perform the essential duties and responsibilities of the position successfully.  Requirements may be modified to accommodate individuals with disabilities.

Department

Department: Actuarial Group Pricing  

Equal Employment Opportunity

CareFirst BlueCross BlueShield is an Equal Opportunity (EEO) employer.  It is the policy of the Company to provide equal employment opportunities to all qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, protected veteran or disabled status, or genetic information.

Hire Range Disclaimer

Actual salary will be based on relevant job experience and work history.

Where To Apply

Please visit our website to apply: www.carefirst.com/careers

Closing Date

Please apply before:4/3/2020

Federal Disc/Physical Demand

Note:  The incumbent is required to immediately disclose any debarment, exclusion, or other event that makes him/her ineligible to perform work directly or indirectly on Federal health care programs.

PHYSICAL DEMANDS:

The associate is primarily seated while performing the duties of the position.  The hands are regularly used to write, type, key and handle or feel small controls and objects.  The associate must have sight.

The physical demands described here are representative of those that must be met by an associate to perform the essential duties and responsibilities of the position successfully.  Requirements may be modified to accommodate individuals with disabilities.

Sponsorship in US

Must be eligible to work in the U.S. without Sponsorship

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