Actuarial Analyst I

Bring your drive for excellence, team orientation, and commitment to customer service to Independence Blue Cross (IBX). Help us renew and reimagine our business while shaping the future of health care.

At IBX, we are committed to growing, innovating, and serving our communities. We are looking for motivated, empowered, and learning-oriented individuals to join our team. If this sounds like you, we would love to hear from you.

Actuarial Analyst I

Apply knowledge of mathematics, probability, and statistics to perform basic actuarial and statistical analyses that help estimate financial outcomes under the guidance and direction of management.
Participate in dynamic rotational assignments throughout the Actuarial Department.
Gain practical, well-rounded experience across multiple actuarial functions.
Develop a deeper understanding of the actuarial profession and its role within the health insurance industry.

Projects will involve one or more of the following disciplines and may support a variety of lines of business, including pharmacy/drug programs.

Pricing (Commercial and Medicare)

Prepare data and analyses for pricing research, including experience studies, trend analyses, book-of-business reviews, CMS revenue analysis, and risk score analyses.
Prepare rating information packages for underwriting and other internal stakeholders.
Assist with rate filings submitted to State Insurance Departments, CMS, and other regulatory agencies.
Gather and analyze information for special projects, including demographic studies, competitive analyses, and other ad hoc requests.

Medical Cost Analysis

Analyze and monitor claims trends across assigned lines of business.
Evaluate cost, utilization, service mix, coverage types, and the impact of benefit and demographic changes.
Prepare reports on historical and projected medical cost results.
Support the valuation of medical cost initiatives and monitor performance against established goals.
Assist in the development of medical trend projections.

Reserving and Planning

Develop, calculate, and monitor accruals, liabilities, and reserves for assigned lines of business.
Work with actuaries and management to ensure appropriate methodologies and formulas are applied.
Develop interim estimates of refund liabilities for large accounts and alternative funding arrangements.
Coordinate with Finance, Rating, and Underwriting teams to support accurate projections and accruals.
Develop and calculate reserves for new products, incorporating settlement terms and contractual agreements.
Compile data to support monthly financial forecasts for premium and claims results.
Assist with actuarial components of financial statements, federal income tax filings, and the compilation, evaluation, and certification of statistical data.

As you progress through the program, gain experience, and successfully pass actuarial exams, IBX recognizes and rewards your achievements through salary increases.

Required Qualifications

Successful completion of at least two Society of Actuaries (SOA) actuarial exams.
Strong mathematical, analytical, and problem-solving skills.
Strong computer proficiency.
Familiarity with database tools, including SQL.
Proficiency with spreadsheet applications, including Microsoft Excel.
Ability to work independently and collaboratively within a team environment.
Independence has implemented a hybrid work model, with associates working in the office three days per week (Tuesday, Wednesday, and Thursday) and remotely two days per week (Monday and Friday).

This position is designated as a hybrid role. While associates may work remotely on designated remote workdays, all work must be performed within the Tri-State Area, including Pennsylvania, New Jersey, or Delaware.

IBX is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to age, race, color, religion, sex, national origin, sexual orientation, protected veteran status, disability, or any other protected characteristic under applicable law.

Candidates must have an Android or iOS device compatible with the free Microsoft Authenticator application.