Vice President, Actuary and Underwriting - Cheyenne, United States - Blue Cross Blue Shield of Wyoming

Description

Who we are:

At Blue Cross Blue Shield of Wyoming, we envision a future where integrity, compassion, and trust define a local health insurance experience. We are committed to doing the right thing for our members, employees, and community, we strive to protect and contribute to the health and care of all we serve.

*Our positions are either fully in office or hybrid (1 or more days a month onsite depending on department). Applicants must reside in Wyoming or Colorado or be willing to relocated as a condition of employment.

Job Summary:
The Vice President, Actuary and Underwriting is responsible for all actuarial and underwriting functions in support of all lines of business. The role incumbent is accountable for providing leadership to actuarial and underwriting teams enabling effective strategies and providing exceptional business decision support to senior management. Specific accountability areas may include pricing and rate negotiations, rating tool development and maintenance, provider and vendor risk contracting, cost of care analytics, and claim reserving; as well as more complex and specialized tasks and analysis involving the need for forward-thinking, strategic analysis in collaboration with many other areas of the company.
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What you will do:

• Accountable for providing leadership to actuarial and underwriting teams, enabling effective strategies and providing exceptional business decision support to senior management.
• Responsible for application of a thorough understanding of BCBSWY financial performance drivers on all lines of business to support and inform strategies and initiatives to meet business goals, supported by relevant and efficient tools, processes, and actuarial and underwriting talent.
• Provides oversight for, and assurance of, timely and accurate filing of all actuarial deliverables to internal customers, state and federal regulators, internal and external auditors, and other audiences as required for BCBSWY compliance.
• Works with departments and leaders as needed to represent actuarial perspective in identifying, implementing and coordinating improved information flow, analysis and tools to achieve ongoing objectives as well as provide timely and accurate business intelligence to senior leadership.
• Analyzes and provides insights into expected budget variances in revenue and expense including comparing company results to industry data to evaluate program performance for executive leadership presentation and review.
• Develops and oversees monthly forecasts of revenue and medical expenses for Medicare, Individual, Small Group, Large Group, Medicaid, Self-Funded and Specialty lines of business.
• Professionally and actively participates in project teams, attends meetings as needed; ensures in-depth preparation to enable discussion reserve position, loss trends, rate change, pricing adequacy, current year loss projections.
• Accountable for guiding team analysis of, as well as performs ongoing expert analysis of various new programs; engages in product management and technology modernization initiatives.
• Identify problematic areas, anomalies and outliers in data, and conducts research to determine the best course of action to correct as may be necessary in accordance with sound practices.
• Engages in forward thinking to enable the creation and/or modification of models, tools, and systems to achieve actuarial and underwriting efficiency and long run success.
• Serves as a key contributor in the annual budget process and ongoing long range planning process by assessing anticipated impact of industry and organization.
• Supports the CIO/SVP by collaborating with the internal stakeholders in development and execution of company strategies and plans; translates strategic initiatives into operational plans for Actuary and Underwriting services, enabling effective tactical action.
• Engages in positive productive collaboration experience with key resources and stakeholders, with the ability to influencing decisions while managing work to achieve strategic goals.
• Develops Actuarial and Underwriting Department operational plan objectives to ensure coordination with the company strategic plan.
• Accountable for financial and analytical oversight of the company's portfolio of cost of care initiatives across all business segments, including performance reporting and management, and setting of enterprise and segment cost of care targets.
• Monitors trends within the Health Insurance industry and communicates significant developments to the department and executive teams.
• Drives sound process improvement and quality enhancement through analytics and predictive modeling.
• Responsible for model development, monthly financial forecasting, annual bid and medical expense modeling, and financial analytics to recommend to the executive level leadership for review and approval.
• Evaluate the effectiveness and adequacy of pricing models and monitoring tools and make recommendations to the executive level leadership.
• Collaborates across the organization to deliver enhanced transparency cost drivers and provide recommendations to improve cost of care trending.
• Accountable for providing oversight and guidance to actuarial and underwriting teams as a subject matter expert to enable the effective translation of strategic plan objectives into operational/tactical action.
• This essential duties listing is not all inclusive, but representative. Other duties may be assigned.

NON-ESSENTIAL DUTIES & RESPONSIBILITIES

• May be requested to act as facilitator for various in-house, board-related, and/or external meetings.
• Serve as "Brand" ambassador as requested which may include public-speaking, providing presentations, etc.

APPLICABLE KNOWLEDGE, SKILLS, & ABILITIES (KSA)

• Proven mathematical skills with a strong knowledge of statistical principles and insurance concepts.
• Contemporary in-depth of knowledge of the Insurance industry; able to apply industry knowledge in current contemporary strategic placement and strategic future placement.
• Highly knowledgeable in planning and implementation (strategic, operational/tactical, long-term, short-term, etc.); skilled in effective management of multiple priorities, deadlines, and capable of leading transformation.
• Capable of demonstrating strong analytical, data interpretation, problem-solving, project management, and highly skilled with change management.
• Strong, proven interpersonal communication skills with leaders and employees at all levels of an organization as well as external colleagues/members of the public; capable presenter to large groups/small groups with prepared presentations as well as ad-hoc (e.g., Q & A sessions).
• Capable of productively managing conflict with proven negotiation skills. Professionalism skills that lend credibility and integrity to the role.
• Proven capabilities in decision-making processes; able to utilize full decision-making spectrum from rational decision-making to appropriate intuitive decision-making, gain buy-in and enable leaders and teams in adoption.
• Knowledgeable of, and capable of, exemplary leadership. Skilled in leadership development, role modeling, employee engagement and enablement; proven ability to energize, inspire and motivate leaders and teams to exceed objectives.
• Proven skills with Microsoft Office Suite programs/applications (e.g., Excel, Access, Word, Outlook, etc.); specific skill levels of Basic with Excel including basic formulas, Intermediate with Word, and Basic business level skills with Outlook and Microsoft Teams.
• Skilled with establishing timelines and consistently meeting deadlines.

What you need:

• Earned Bachelor's degree in Mathematics, Statistics, Actuarial Science, Computational Analytics, Business Administration, or related field required. Earned Master's degree in related field strongly preferred.
• Earned ASA credential required, FSA strongly preferred.
• 12 years directly related experience in leading actuarial functions with a track record of progressively responsible roles required. Experience working in the Health Insurance Industry preferred; experience with Blue Plans strongly preferred.
• Minimum of 10 years of progressively responsible leadership roles required. Previous experience in an executive leadership role strongly preferred.
• Active Driver's License required.

The Environment:

While performing the essential duties of this position, an employee will typically experience:

• Standing, walking, and sitting.
• Lifting and/or moving up to 10 pounds; occasionally lifting and/or move up to 25 pounds short distances.
• Usage of close vision, distance vision, and ability to adjust focus.
• Manipulation of keyboards, keypads, and calculators.
• Placing and answering telephone calls.
• Focused task tracking and follow-through.
• Some interpersonal tension in problem-solving/resolution interactions.
• Speaking/presenting to internal and external audiences of diverse sizes.
• Work environment noise level that is usually moderate.
• Open office environment with few, if any, loud sounds, or ongoing auditory distractions.
• Some deadline related stress.
• As needed evening and weekend hours on a periodic basis.
• In-state and out-of-state travel required, most travel pre-planned, some travel may be on short-notice.

To perform successfully in this position, an individual must be able to perform essential duties satisfactorily as well as possess education/experience, knowledge, skill, and abilities (KSA) as listed in representative fashion; reasonable accommodations may be made to enable individuals with limitations/disabilities to perform the essential functions of this position. The essential duties and KSA listed are not all inclusive, but representative. Other duties may be assigned.

What we offer:

Compensation: BCBSWY assesses market data and establishes ranges to ensure we remain competitive. Employees are paid within the range based on your experience and market data of the position. Pay incentives are based on overall corporate and individual performance and at the discretion of the CEO.

Benefits: At BCBSWY our employees are provided best-in-class benefits to support their physical, financial, and emotional wellness. These benefits include medical, dental, vision, 401(k), life insurance, paid time off (PTO), 10 paid holidays annually, plus 8 paid volunteer hours, and various wellness programs.