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Position Description

Arkansas Blue Cross and Blue Shield - NON-EXEMPT POSITION DESCRIPTION

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Position:  Actuarial Analyst I
Reports To: 
Division:  EBI Financial Informatics (0046)
Company:  ABCBS
Location:  Label
Job Code:  231226
Min Salary:   44900
Date Posted:  10/29/2013

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Position Specific Requirements: None


Job Summary
This position is responsible for the evaluation of the financial impact of various health care financing schemes with emphasis on those involving real risk assumption by our enterprise. Analyses completed by incumbents in this position will be used to support business decisions by many areas of the enterprise. Typical activities performed by this position include:

1. Developing statistics and designing methodologies to be used to set unpaid claims liability estimates for the enterprise’s financial statements.
2. Support provider reimbursement strategies and trend analysis for provider contract changes
3. Conducting experience studies to measure actual company experience versus current rating assumptions. Updating rating factors or algorithms to reflect current experience or changing conditions. Preparing reports to decision makers throughout the enterprise with information concerning current utilization trends or experience results.
4. Developing statistics and methodologies which will define, support, and/or forecast the financial position of the enterprise.
5. Providing ratemaking input to corporate and regional underwriters. Providing ratemaking support to regional executives for use in the design of provider risk sharing models or for other purposes.
6. Assisting in the completion of JV and regional financial reports.
7. Assisting in the setting of provider risk share targets and completion of provider settlements/reports

Nature & Scope
• Environment -- This position reports to Manager EBI Financial Informatics. Incumbents in this position will typically be pursuing achievement of professional status in the Society of Actuaries.

• Workflow -- This position will perform the majority of its assigned tasks in a project team environment. The teams involved will primarily be comprised of the other members within the division, as well as personnel from other areas of the enterprise. The majority of the assigned tasks will involve experience studies, statistical/impact analysis, or financial reporting.


• Guidance -- Professional standards of the Actuarial profession, demand that an individual in this position work under the guidance or direction of a qualified actuary for many activities. Other than that stipulation, the incumbents in this position are expected to execute their duties with only general supervision. These individuals will also be available for technical and directional guidance as necessary to successfully complete the project work on a timely basis. When working on projects with other areas of the enterprise, the position's supervisor should be kept aware of the status of this position's activities.

• Interfaces -- This position will interact with all enterprise actuaries, accountants, regional executives, and other cross- functional areas. This position will provide technical, rating support for enterprise and regional underwriters. This position will also interface with multi-disciplined product development teams or product champions concerning financial issues.

Minimum Job Requirements

1. Exhibit the mathematical skills and statistical analysis capabilities necessary to support and complete the workload assigned.

2. Exhibit above average oral and written communication skills.

3. Exhibit basic knowledge of personal computer hardware and software operation, and the ability to satisfactorily utilize the desktop computer work tools present within the Actuarial Division (i.e., Spreadsheet, Word Processing, Database, Application Development, etc.).

4. Exhibit acceptable performance relative to the following dimensions, and the ability to apply them to interpersonal environments: Oral Communication Analysis
Written Communication Decisiveness
Job Motivation Judgment
Initiative Organizational Vision
Tolerance for Stress Technical/Professional Knowledge
Sensitivity

5. Possess basic knowledge of the health insurance industry, managed care, and computer programming. Possess good problem solving skills and good interpersonal skills.

6. Have the ability to work with minimal supervision.

  • Education and Experience --

1. A Bachelor's degree required with preference given to the following majors: Computer Science, Mathematics, Actuarial Science, Statistics, or other mathematics or financial related field from an accredited college or university. Successful completion of two or more actuarial exams may be considered for substitution for the degree, if the candidate's degree is not in one of the fields listed.

2. One or more successfully completed SOA exams. Actuarial statistics experience may be substituted for the exam credits.


Security Requirements
This position is identified as level three (3). This position must ensure the security and confidentiality of records and information to prevent substantial harm, embarrassment, inconvenience, or unfairness to any individual on whom information is maintained. The integrity of information must be maintained as outlined in the company Administrative Manual.

Segregation of Duties
Segregation of duties will be used to ensure that errors or irregularities are prevented or detected on a timely basis by employees in the normal course of business. This position must adhere to the segregation of duties guidelines in the Administrative Manual.

PRINCIPAL ACTIVITIES OR ACCOUNTABILITIES (Essential Functions of Job)
1. Prepare and maintain financial based reporting to internal customers including profitability studies and the Enterprise Actuarial and Statistical Report
2. Support Financial Services for monthly and annual reporting
3. Support Actuarial by providing data and analysis on products, providers or groups
4. Prepare monthly reconciliations between actuarial data and financial statements
5. Provide data and analysis to internal customers regarding health care reform provisions
6. Participate in inter-divisional teams to assure that statistical data is properly maintained to support rate analysis and reporting requirements.
7. Assist other enterprise work groups in the development and maintenance of sound financial and statistical data. Assist other enterprise work groups in developing key financial or statistical reports
8. Analyze the rate impact of new product designs, proposed legislation and provider reimbursement contract changes. Communicate results of analyses to the Vice President & Corporate Actuary or the appropriate enterprise executive.
9. Provide input to special projects or at company meetings (Marketing Committee Meeting, Regional Executive Meeting, etc) when requested by the incumbent’s supervisor abide by the Actuarial Standards Board’s Standards of Practice. Adhere to all corporate, customer, and division standards and policies.
10. Assist in the completion of provider settlements or reports


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