6 Actuarial Analyst I Jobs in Boston, MA
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WellSense Health Plan is Hiring an Actuarial Analyst I Near Boston, MA
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.
Qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, disability or protected veteran status. WellSense participates in the E-Verify Program to electronically verify the employment eligibility of newly hired employees.Job Summary
Full Time
$76k-95k (estimate)
07/30/2023
04/07/2024
The job skills required for Actuarial Analyst I include Actuarial, Analysis, Pricing, Futures, Actuarial Science, SQL, etc. Having related job skills and expertise will give you an advantage when applying to be an Actuarial Analyst I. That makes you unique and can impact how much salary you can get paid. Below are job openings related to skills required by Actuarial Analyst I. Select any job title you are interested in and start to search job requirements.
The following is the career advancement route for Actuarial Analyst I positions, which can be used as a reference in future career path planning. As an Actuarial Analyst I, it can be promoted into senior positions as an Actuary II that are expected to handle more key tasks, people in this role will get a higher salary paid than an ordinary Actuarial Analyst I. You can explore the career advancement for an Actuarial Analyst I below and select your interested title to get hiring information.
If you are interested in becoming an Actuarial Analyst, you need to understand the job requirements and the detailed related responsibilities. Of course, a good educational background and an applicable major will also help in job hunting. Below are some tips on how to become an Actuarial Analyst for your reference.
Step 1: Understand the job description and responsibilities of an Accountant.
Quotes from people on Actuarial Analyst job description and responsibilities
Analysts are often also responsible for the monthly, quarterly, and annual reporting processes that need to be completed by the actuarial departments.
04/12/2022: Ogden, UT
They use statistical models to analyze data and assess risk.
01/23/2022: Chico, CA
They teach math concepts that are very specific to the actuarial field.
03/28/2022: Elyria, OH
Actuarial analysts use advanced statistics and modeling to understand data and assist actuaries.
04/08/2022: Provo, UT
Actuarial Analysts use statistics and mathematics to predict financial risks for companies.
03/11/2022: Austin, TX
Step 2: Knowing the best tips for becoming an Accountant can help you explore the needs of the position and prepare for the job-related knowledge well ahead of time.
Career tips from people on Actuarial Analyst jobs
Many actuaries earn an actuarial science degree, but some pursue other analytical majors, such as mathematics or statistics.
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Entry-level positions for Risk Analysts typically require.
02/17/2022: Mobile, AL
The best actuarial science schools are ones that have a good reputation, has accreditation, and has a large percentage of graduates finding employment after earning their degree.
01/26/2022: Rochester, MN
To earn the Associate of the Society of Actuaries designation, students must pass a specialized series of actuarial science exams.
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Pass at least one actuarial exam.
02/04/2022: Los Angeles, CA
Step 3: View the best colleges and universities for Actuarial Analyst.
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