What are the responsibilities and job description for the Actuarial Analyst I position at PacificSource Health Plans?
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PacificSource is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to status as a protected veteran or a qualified individual with a disability, or other protected status, such as race, religion, color, national origin, sex, sexual orientation, gender identity or age.
Diversity and Inclusion: PacificSource values the diversity of the people we hire and serve. We are committed to creating a diverse environment and fostering a workplace in which individual differences are appreciated, respected and responded to in ways that fully develop and utilize each person’s talents and strengths.
Provide actuarial services for PacificSource. Responsible for accurate and reliable actuarial activities. Ensure sound actuarial analysis of risk, resulting in the attainment of PacificSource's financial and enrollment goals. Work to increase enrollment and maintain a strong financial position. Provide documented input on decisions which impact the risk assumed through various current or proposed activities.
Essential Responsibilities:
- Employ established formulas and guidelines for timely and accurate rating of existing and prospective insurance contracts.
- Analyze claims, enrollment, administrative expense, required reserves, trends, and other factors needed to determine appropriate revenue requirements for corporate financial forecasting and other activities.
- Review requirements for and identify information needed to accurately assess various elements of risk, cost, and utilization, and its financial impact upon PacificSource.
- Produce reports for use by Management and appropriate departments within PacificSource, such as Product Development, Health Services, Finance, etc.
- Make documented recommendations based on the analysis of information regarding methods to reduce costs.
- Provide support to Product Development and Sales by offering technical expertise regarding rating and benefit evaluation.
- Aid in rate filing process and other compliance activities required by various State and Federal law.
Supporting Responsibilities:
- Meet department and company performance and attendance expectations.
- Follow the PacificSource privacy policy and HIPAA laws and regulations concerning confidentiality and security of protected health information.
- Perform other duties as assigned.
Work Experience:
Health or other actuarial experience is preferred, but recent graduate considered.
Education, Certificates, Licenses:
Baccalaureate degree in mathematics, quantitative economics, or a related field required. Ability and interest in pursuing actuarial training with certification exams. Having passed a minimum of one actuarial exam is required. Advanced student/near-ASA is preferred but not required.
Knowledge:
Data analysis, interpretation, and action recommendations related to rating strategies. Ability to identify problems, develop solutions and implement a chosen course of action. Requires excellent computer, oral and written communication skills and organization skills; ability to read, analyze and interpret documents and information; and ability to respond to common inquiries and effectively present information to a variety of groups.
Competencies:
Adaptability
Building Customer Loyalty
Building Strategic Work Relationships
Building Trust
Continuous Improvement
Contributing to Team Success
Planning and Organizing
Work Standards
Environment:
Work inside in a general office setting with ergonomically configured equipment. Travel is required approximately 5% of the time.
Skills:
Accountability, Collaboration, Communication (written/verbal), Flexibility, Listening (active), Organizational skills/Planning and Organization, Problem Solving, Teamwork
Our Values
We live and breathe our values. In fact, our culture is driven by these seven core values which guide us in how we do business:
- We are committed to doing the right thing.
- We are one team working toward a common goal.
- We are each responsible for customer service.
- We practice open communication at all levels of the company to foster individual, team and company growth.
- We actively participate in efforts to improve our many communities-internally and externally.
- We actively work to advance social justice, equity, diversity and inclusion in our workplace, the healthcare system and community.
- We encourage creativity, innovation, and the pursuit of excellence.
Physical Requirements: Stoop and bend. Sit and/or stand for extended periods of time while performing core job functions. Repetitive motions to include typing, sorting and filing. Light lifting and carrying of files and business materials. Ability to read and comprehend both written and spoken English. Communicate clearly and effectively.
Disclaimer: This job description indicates the general nature and level of work performed by employees within this position and is subject to change. It is not designed to contain or be interpreted as a comprehensive list of all duties, responsibilities, and qualifications required of employees assigned to this position. Employment remains AT-WILL at all times.
