Actuarial Analyst I

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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 740,000 members across Massachusetts and New Hampshire through Medicare, Individual and Family, and Medicaid plans. Founded in 1997, WellSense provides high-quality health plans and services that work for our members, no matter their circumstances. WellSense is committed to the diversity and inclusion of staff and their members.

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