Actuarial Analyst II

Horizon Blue Cross Blue Shield of New Jersey empowers our members to achieve their best health.  For over 90 years, we have been New Jersey’s health solutions leader driving innovations that improve health care quality, affordability, and member experience.  Our members are our neighbors, our friends, and our families.  It is this understanding that drives us to better serve and care for the 3.5 million people who place their trust in us. We pride ourselves on our best-in-class employees and strive to maintain an innovative and inclusive environment that allows them to thrive. When our employees bring their best and succeed, the Company succeeds. 

This is an Actuary position within the Risk Adjustment department. This position will require deep and significant analysis, and data-mining, to ensure that accurate claims/encounter data. Develop mathematical modeling techniques and statistical concepts to determine probability and assess risks. This position will need to work closely with a multitude of departments, being able to rapidly understand and navigate new situations and to be able to create solutions on the go.

Responsibilities:

• Perform and support trend analysis
• Perform risk adjustment analytical studies that involve manipulations of large amounts of data.
• Identify patterns and trends in diagnostic coding practice in conjunction with risk score measurement. 
• Conduct gap analysis and data collection and validation. 
• Stay abreast of government regulations as related to the 3R’s.
• Quantify and project risk scores and revenue for the Medicare line of business
• Serve as subject matter expert for Medicare regulations, procedures, and requirements
• Conduct complex actuarial analyses to assess risk scores
• Create data-driven solutions for capturing risk and improving quality of care for our members
• Perform vendor return on investment analyses to determine ongoing benefit and decision support
• Develop and execute work plans that may involve collaboration with more than one team
• Identify systems and operational problems, and recommend solutions and changes to streamline procedures for more effective reporting
• Perform root cause analysis
• Present and explain results to executive leadership
• Other responsibilities as assigned
• Analyze enrollment and claims data for patterns and trends to identify opportunity to improve documentation and coding.
• Monthly P&L financial reconciliations and frequent liaisons with the Finance team
• Present reports, explaining their implications to managers and directors, and advising on risk limitation
• Communicating with internal clients and carrying out relationship with financial directors and stakeholders
• Ad-hoc modeling and projects.

Education/Experience:

• Requires a Bachelor’s degree, preferably within Mathematics, Statistics, Actuarial Sciences or a related field from an accredited college or university
• 2 years of actuarial and/or statistics experience
• Experience in the health insurance industry preferred
• Associate, Society of Actuaries (ASA) preferred

Knowledge:

• Requires working knowledge of Excel
• Prefers working knowledge of Access or other database application
• Prefers experience with SAS or other programming language
• Prefers knowledge of data analysis and Actuarial principles
• Requires good oral and written communication skills
• Requires strong analytical thinking
• Requires strong mathematical skill and statistical analysis abilities
• Requires good judgment and problem solving skills
• Medicare or Commercial Risk Adjustment experience
• Other healthcare experience, especially technical experience

Skills and Abilities:

• Requires good oral and written communication skills
• Requires strong analytical thinking
• Requires strong mathematical skill and statistical analysis abilities
• Requires good judgment and problem solving skills

Horizon BCBSNJ employees must live in New Jersey, New York, Pennsylvania, Connecticut or Delaware

Salary Range:

$77,900 - $104,370

​This compensation range is specific to the job level and takes into account the wide range of factors that are considered in making compensation decisions, including but not limited to: education, experience, licensure, certifications, geographic location, and internal equity.  This range has been created in good faith based on information known to Horizon at the time of posting.  Compensation decisions are dependent on the circumstances of each case. Horizon also provides a comprehensive compensation and benefits package which includes:

• Comprehensive health benefits (Medical/Dental/Vision)

• Retirement Plans

• Generous PTO

• Incentive Plans

• Wellness Programs

• Paid Volunteer Time Off

• Tuition Reimbursement

Disclaimer:
This job summary has been designed to indicate the general nature and level of work performed by colleagues within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of colleagues assigned to this job.

Horizon Blue Cross Blue Shield of New Jersey is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, protected veteran status or status as an individual with a disability and any other protected class as required by federal, state or local law.  Horizon will consider reasonable accommodation requests as part of the recruiting and hiring process.