Actuarial Analyst II

at  Delta Dental of Colorado

QUALIFICATIONS:

Education and Experience:

• A bachelor’s or master’s degree in actuarial science, mathematics, statistics, economics, or a related field is required.
• Demonstrated progression towards Associate of the Society of Actuaries (ASA) certification. All foundational ASA exams passed preferred. Compliance with all relevant Actuarial Standards of Practice.
• 2-5 years of actuarial experience in the insurance industry, preferably with some focus on dental or health insurance. Equivalent experience will be considered.
• Advanced skills in Microsoft Office applications required and proficiency in data analysis tools and programming languages such as SQL, R, PowerBI, Python, or VBA.

Skills and Abilities:

• Analytical Skills: Strong analytical and problem-solving abilities for analyzing data, creating claim probability distributions, forecasting trends, simulation/stochastic modeling, and making informed decisions based on disparate data sources.
• Communication Skills: Excellent written and verbal communication skills for explaining complex actuarial concepts to non-actuaries and for effective collaboration with various departments.
• Regulatory Knowledge: Familiar with insurance filing procedures and able to interpret federal and state insurance regulations.
• Project Management: Experience in managing projects, including coordinating with different teams, meeting deadlines, and delivering results that align with company objectives.
• Team Collaboration: Ability to work effectively in a team environment, including leading and mentoring junior staff.

ESSENTIAL FUNCTIONS:

• Financial Performance Evaluation: Support the evaluation of DDCO’s products to ensure pricing models are aligned with claim and clinical trends, expense allocations, and revenue growth goals. Continuously look for ways to enhance model efficiency and accuracy.
• Annual Rate Filings: Contribute to the annual rate filing process for DDCO and Ember Assurance, Inc where needed as determined by the Associate Actuary. Ensure the timeliness and accuracy of filings and be a resource to Finance on annual audits.
• Reserve Calculations: Assist the Associate Actuary in the preparation and improvement of the monthly and year-end claim reserve models for both DDCO and Ember Assurance.
• Trend Analysis: Stay informed on industry trends that may impact utilization and pricing and aid in the interpretation of proposed regulatory changes with impact analysis.
• Provider Fee Review: Participate in the provider fee review process and contribute to DDCO’s Network Strategy by querying necessary data for Associate Actuary review and collaborating with Provider Relations.
• Underwriting Analytics: Provide insights to Underwriting and Sales & Client Services to help with the renewal or sale of strategic accounts.
• Actuarial Reports and Presentations: Create detailed actuarial reports, memos, and presentations for both internal and external stakeholders, ensuring that data-driven insights are effectively communicated, and all communications comply with all relevant ASOPs.
• Data and Analytics Collaboration: Work with the Data and Analytics team to query large datasets, add business insight for optimal database architecture, and develop data visualization tools to monitor trends and key results of initiatives.
• Support Pricing Strategies: Assist in developing pricing strategies that align with the company’s financial goals.
• Rate Filing Compliance: Assist in ensuring that rate filing documents are filed on time and are compliant with Division of Insurance requirements.
• Influence Decision-Making: Help shape the direction of the business through data and recommendations regarding a variety of initiatives at DDCO. This may include presenting directly to leadership or executive leadership.