This position is responsible for managing the Corporate Actuarial function within the Emerging Markets Corporate Risk Department . Manage all resources associated with these functions including department workload and priorities while maintaining efficient processes.
The position is responsible for the development and management of the strategic pricing architecture for non-insurance products and services. This includes overall pricing and ensuring that the pricing strategies are actuarially sound and aligned with the strategic goals and incentives. Assists with forecast development by providing peer review and promoting alignment around communication of key trends, expenses, risks, and opportunities. This position is responsible for determining appropriate types of analysis, then designing and preparing exhibits and other business analyses requiring a technical solution for executive leadership. Based on results, effectively communicates appropriate recommendations. Undertake special projects and ad hoc problem-solving. It is also acts as an actuarial liaison to the parent (BCBSM) for the Medicare segment (Senior Health Services) and plays the role of a consulting actuary linking technical work to practical insights.
- Analyzes data and present analysis in a format appropriate for actuarial and other financial analysis linking technical work to practical insights.
- Communicate, make recommendations, and present data to leadership and committees, including senior executives.
- Prepare commentary for senior executive management regarding segment profitability, competitive analysis, pricing trends, initiatives, and decisions, and provides strategic recommendations.
- Assist business segments with pricing of insurance and non-insurance products, develops prospective profitability assessments, and communicates pricing decisions to senior executive leadership and additional audiences as requested.
- Able to inform and manage process for rack rate development and Pricing Committee
- Provides analytical support to customer negotiations, initial plan projections, and implementation of pricing terms for EM solutions businesses.
- Partner with peers responsible for risk and capital management to fully understand and assess risks, discuss capital needs and impacts, and strategic direction.
- Analyze complex risk, and present analysis in a clear and concise format for communication to the appropriate parties including senior executive leadership.
- Assists with forecast development and key actuarial assumptions supporting Senior Health Services forecast and annual plan, provide forecast inputs to Performance Management Department, and communicate changes and trends to executive leadership.
- Effectively translate trends, risks and opportunities identified between EM and BCBSM actuaries.
- Works with various business units to help create and drive strategic plans with analytical support and metrics, including bid process.
- Communicates analysis to management and various committees as requested.
- Engages with Enterprise Risk Management to support the various risk reporting needs such as board material, ORSA, scorecards and other executive reporting.
- Monitors industry results and trends and Emerging Markets relative performance to the industry.
- Understands insurance and business operations within Emerging Markets.
- Creates documentation and establishes procedures for internal department processes.
- Represents Corporate Risk on corporate projects as needed.
- Responsible for managing and coordinating day-to-day office operations and workflow of the Corporate Actuarial staff.
- Provide guidance, training and leadership to employees and mentor other actuarial analysts and teammates.
- Assigned advanced special projects as needed and ad hoc problem-solving.
- Exercise discretion when communicating outside of department.
- Maintain confidentiality of information processed as appropriate.
This position description identifies the responsibilities and tasks typically associated with the performance of the position. Other relevant essential functions may be required. DIRECTION EXERCISED:
Directly supervises exempt and non-exempt staff in accordance with company policies and applicable Federal and State Laws. Responsibilities include but are not limited to effectively interviewing, hiring and training employees; planning, assigning and directing work; appraising performance; rewarding and counseling employees; addressing complaints and resolving problems; supporting and encouraging the engagement process. EMPLOYMENT QUALIFICATIONS: EDUCATION:
Bachelor's degree in actuarial science, mathematics, finance or a related area required. Attainment of Associateship preferred from Society of Actuaries or Casualty Actuarial Society. Continuous learning, as defined by the Company's learning philosophy, is required. Certification or progress toward certification is highly preferred and encouraged. EXPERIENCE:
Seven years relevant actuarial, business, analytics or finance experience which provides the necessary skills, knowledge and abilities required. Three years of leadership including direct management or supervisory. SKILLS/KNOWLEDGE/ABILITIES (SKA) REQUIRED:
- Knowledge of mathematics and statistics with the ability to perform necessary mathematical computations.
- Advanced knowledge of actuarial principles and practices, including reinsurance, reserving and ratemaking, financial reporting, underwriting and marketing guidelines and claims practices.
- Ability to apply the principles of logical thinking to define problem; collect data, establish facts and draw conclusions.
- Excellent communication with others both verbally and in writing and the ability to communicate actuarial concepts and conclusions to non-actuaries.
- Expert user of Excel.
- Advanced knowledge of capital management and modeling techniques and software
- Ability to learn new software easily.
- Ability to effectively exchange information clearly and concisely, present ideas, report facts and other information, and respond to questions as appropriate.
- Excellent oral and written communications skills.
- Ability to manage multiple priorities, establish work flows and meet necessary deadlines.
- Thorough knowledge of departmental procedures and workflows.
- Demonstrated leadership abilities.
- Ability to comprehend the consequences of various problem situations and address them.
- Ability to make competent, independent decisions.
- Ability to maintain confidentiality as appropriate.
- Ability to perform other assignments at locations outside the office.
Work is performed in a virtual office setting with no unusual hazards. Minimal travel is required.
The qualifications listed above are intended to represent the minimal skills and experience levels associated with performing the duties and responsibilities contained in this position description. The qualifications should not be viewed as absolute standards, but as general guidelines that should be considered with other position-related criteria.
We are an Equal Opportunity Employer. Diversity is valued and we will not tolerate discrimination or harassment in any form. Candidates for the position stated above are hired on an \"at will\" basis. Nothing herein is intended to create a contract.
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