It’s an exciting time to join the WellSense Health Plan, a growing regional health insurance company with a 25-year history of providing health insurance that works for our members, no matter their circumstances.
The Actuarial Analyst I is a key member of the Finance / Actuarial Services team. Under direct guidance and supervision, the Actuarial Analyst I applies knowledge of mathematics, probability, statistics, and principles of business in order to provide assistance and technical support for pricing, reserving, medical economics, financial forecasting, and/or healthcare data analytics. The Actuarial Analyst I works with a team of actuaries to assist with the actuarial components of health programs, and provides actuarial support to Finance, and/or other departments in the company.
Our Investment in You:
- Full-time remote work
- Competitive salaries
- Excellent benefits
KEY FUNCTIONS/RESPONSIBILITIES:
- Analyzes financial, statistical and mathematical data and performs actuarial calculations.
- Assists in the rate development through analyses of benefit design, rating factors, claims experience, regulatory mandates, admin allocation, and projection of future claim cost.
- Assists in regulatory rate filings, and prepares data or response for additional inquiries.
- Assists in the development of monthly IBNR reserve estimates for different line of business.
- Prepares monthly accruals and contract settlements for different line of business.
- Assists in financial budget, reforecast and other financial projections.
- Assists in risk adjustment analyses and risk score simulations.
- Supports trend development, trend drivers study, and/or provider contract analytics.
- Maintains established reports for internal needs and/or regulatory requirements.
- Participates in internal and external audits.
- Provides analytic support for corporate initiatives/projects.
- Executes SQL/SAS queries and programs to extract data from data warehouse, and reviews the data to ensure accuracy and validity.
- Is a participant in good standing in the Actuarial Student Program, and is committed to completing the Society of Actuaries education courses to attain the ASA or FSA designation.
QUALIFICATIONS:
EDUCATION:
- Bachelor’s Degree in Mathematics, Actuarial Science, Finance, Economics or related fields.
EXPERIENCE:
- At least 1 year of progressively responsible experience in actuarial analysis, data modeling, informatics and analysis. Commensurate educational experience in related field will be considered.
- Successful completion of at least 1 SOA actuarial exams, desired.
COMPETENCIES, SKILLS, AND ATTRIBUTES:
- Working knowledge of MS Office products, SQL, and SAS or other statistical software.
- Should be experienced in Microsoft Excel.
- Ability to meet deadlines, multi-task, problem solve and use appropriate technology to analyze business problems.
- Ability to work collaboratively with team members and other departments.
- Good communications skills.
ABOUT WELLSENSE
WellSense Health Plan is a nonprofit health insurance company serving more than 440,000 members across Massachusetts and New Hampshire through Medicare, Individual and Family, and Medicaid plans. Founded 25 years ago, WellSense provides high-quality health plans and services that work for our members, no matter their circumstances.
*WellSense will require proof of COVID-19 vaccination(s) as a term of employment for all employees. The company may make exceptions to this requirement in certain limited circumstances for religious or medical purposes.
Required Skills
Required Experience