Actuarial Analyst I

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! 

Why Wellmark Technology? Wellmark is building innovative, modern solutions using cutting edge technology. We are driving organizational transformation and business strategy by empowering our technology team to innovate new and elegant solutions to enhance the customer experience. Together, we are leaning into the future, owning the outcome, and driving organizational change to transform how we work. 

Learn more about our unique benefit offerings here. 

Want to know more? You can learn about life at Wellmark here.

As an Actuarial Analyst I, you will work under general guidance and direction to perform analysis, develop models, and monitor financial performance. Provide dependable, accurate, and timely information in support of financial reporting, rate making, and product evaluations, as assigned. Provide comprehensive data analysis of health care trends and financial measures with summary conclusions to inform business decisions.

Required:

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

• 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.

Job Responsibilities

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 [email protected]

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