Job description

A Principal Actuary performs a broad range of actuarial and analytical analysis for the organization, such as producing actuarial models and visualizations, supporting the strategic planning for various business segments, evaluating advanced value-based care models, performing competitive benchmarking analyses, and building and evaluating complex cost savings initiatives. A Principal Actuary will support the company strategy by providing sound, consistent, and actionable actuarial analysis and recommendations, and can identify and react to nuanced risks and opportunities in our changing industry.

Leverage medical and pharmacy claims to analyze trends and identify cost drivers with respect to the organization’s “total cost of care”

Employ utilization and unit cost benchmarking tools, various service and diagnosis groupers, and other claim level metrics to enhance current data and reporting capabilities

Accountable for completion of complex actuarial or analytical projects, ensuring timeliness, compliance, and quality of work

Provide proactive and strategic thought leadership of ways to improve processes, reduce risks, and meet department and enterprise objectives to achieve profitable growth and/or improve value, quality, and access for Blue Cross NC customers

Achieve segment financial targets and provide concise explanations of results and variances to expectations; act as a financial steward for the company

Communicate effectively with all levels and divisions within the organization

Manage external partnerships with vendors, auditors, regulators, and health care providers, including effective negotiation of contracts and/or rates

Develop and maintain strong business relationships with internal partners through business expertise and exceptional support; act as a strategic advisor

Meet continuing education standards required for job function, thought leadership and maintenance of actuarial credentials

Hiring Requirements

Associate of the Society of Actuaries

Member of the American Academy of Actuaries

Minimum of 4.5 years of relevant actuarial experience

Bachelor’s Degree in Actuarial Science, Mathematics, Statistics, Economics or related field

Preferred Skills and Experience

Excellent communication, presentation, and mentoring skills

Prior experience with pharmacy or trend analytics is a bonus

Strong organizational skills, and the ability to manage many time-sensitive projects at once

Ability to think creatively and strategically, leveraging business and industry knowledge to drive change and mitigate complex risks

Adaptive and versatile learner, with the ability to react quickly to changing business dynamics

FSA preferred

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