Actuarial Analyst I (Open To Hiring At Level II)

Company Description

Why Wellmark: We are a mutual insurance company owned by our policy holders across Iowa and South Dakota, and we've built our reputation on over 80 years' worth of trust. We are not motivated by profits. We are motivated by the well-being of our friends, family, and neighbors-our members. If you're passionate about joining an organization working hard to put its members first, to provide best-in-class service, and one that is committed to sustainability and innovation, consider applying today!

Learn more about our unique benefit offerings here.

You can also learn more about working at Wellmark here.

Job Description

Use your Strengths at Wellmark on our Actuarial Services team!

As an Actuarial Analyst I, you will work under general guidance and direction to provide analysis and recommendations for your assigned market segment(s). This includes providing dependable, accurate, and timely information regarding rates, trends, rating factors and formulas in support of internal stakeholder functions (such as Underwriting, Product Development) and calculating benefit rating factors for specific group or member populations.

As an Actuarial Analyst II, you will do the same under limited guidance and direction. Additionally, you will prepare and review actuarial material for rate filings (including rate indications), and partner with Product Development/Underwriting to develop rate justification supporting new and existing products.

Aside from meaningful, challenging work, we offer:

• A culture of respect, diversity, and inclusion and commitment to our community

• A workplace that values health with access to a fitness facility, creative health programs, education and services

• Exceptional employee benefits, rewards and growth opportunities, including a best-in-class educational assistance program that includes a loan repayment option

• State-of-the-art, environmentally lean and green office environment

Qualifications

Required:

• Bachelor's degree in Actuarial Science or related field, or direct and applicable work experience.

• Previous experience in a finance related role, internship or completed coursework in finance.

• Passed at least one (1) of the core exams as administered/recognized by the Society of Actuaries.

• Knowledge of programming languages (such as R, SAS, or SQL).

• Ability to apply statistical and predictive modeling and analytics methodologies to advanced analytical problems.

• Ability to develop predictive models to solve business problems, interpret the model results, turn data into actionable insights, and effectively communicate model results.

• Experience using the full Microsoft Office Suite; highly proficient in Microsoft Excel. Strong understanding of databases and data extraction.

• Proven ability to work in a deadline driven, detail-oriented, fast paced environment.

• Strong communication skills, both written and verbal. Should be able to present to business or technical. partners. Ability to effectively present recommendations and supporting analysis to business partners.

Preferred:

• Bachelor's degree in Actuarial Science or a related field.

• Prior experience in an actuarial role with experience in relevant regulations, problem solving and weighing alternative solutions, identifying, and managing risk.

• Previous experience in the health insurance industry.

Additional Information

a. Under general guidance and direction, provide analysis and recommendations for assigned market segment(s), with the goal of achieving corporate profitability objectives through specifically assigned analysis projects.

b. Provide dependable, accurate, and timely information regarding rates, trends, rating factors and formulas to support internal stakeholder functions (such as Underwriting, Product Development), as assigned. Calculate benefit rating factors for specific group or member populations.

c. Provide comprehensive and timely data analysis of health care trends and financial measures with summary conclusions, with direction, and as assigned. Collaborate and partner with Business Analytics staff regarding data analysis for assigned work.

d. Support statutory rate filings by compiling data, completing experience studies and forecasting results. Use data validation and research methodologies that meet established actuarial guidelines for statistical accuracy and that will produce reasonable results.

e. Calculate adequate unpaid claims liabilities, with direction, as assigned. Provide information as needed for financial reporting (e.g. reserves, annual statement exhibits).

f. Learn and familiarize yourself with various regulatory requirements.

g. Prepare and maintain documentation related to standard operating procedures as well as routine and special projects.

h. Other duties as assigned.

An Equal Opportunity Employer

The policy of Wellmark Blue Cross Blue Shield is to recruit, hire, train and promote individuals in all job classifications without regard to race, color, religion, sex, national origin, age, veteran status, disability, sexual orientation, gender identity or any other characteristic protected by law.

Applicants requiring a reasonable accommodation due to a disability at any stage of the employment application process should contact us at careers@wellmark.com

Please inform us if you meet the definition of a "Covered DoD official".