Sr Rating & Udrwtg Anlyst

With more than 7,000 employees, we are the largest health insurance company in Michigan. We offer an exciting work environment with a diverse group of employees. Our goal is to make health insurance easier for our members. We want to transform the industry and become a resource that people can trust.

Detroit, MI

Blue Cross Blue Shield of Michigan

When you think of <a href="https://www.bcbsm.com/" target="_blank" rel="noopener noreferrer">Blue Cross Blue Shield of Michigan</a> for health insurance, you can know you&rsquo;re getting much more. We're a company founded on a tradition of affordable, quality health care for everyone, improving the present and investing in the future.&nbsp;<br /><br />We offer:<br />Plans for employers and individuals that meet today&rsquo;s needs, budgets and lifestyle<br />The largest network of doctors and hospitals in the state<br />Lower health care costs Higher quality health care<br />Award-winning diversity practices<br />Grants and programs that promote better health throughout Michigan<br /><strong><br />Mission:&nbsp;</strong>We commit to being our members&rsquo; trusted partner by providing affordable, innovative products that improve their care and health.<br /><br /><a href="http://www.bcbsm.com/index/about-us/our-company.html" target="_blank" rel="noopener noreferrer"><strong>Click here</strong></a> to learn more about our commitment to our Social Mission, view company updates and reviews, and view our awards &amp; accolades.<br /><br />For Application Timeline &amp; Selection Process:&nbsp;<a href="https://s3.amazonaws.com/data.vizirecruiter.com/Images/BCBSMCareers+-+Quick+Reference+Guide.pdf" target="_blank" rel="noopener noreferrer">Click Here</a>. Learn more about your options as an external candidate. <a href="https://bcbsm.taleo.net/careersection/2/jobsearch.ftl?lang=en" target="_blank" rel="noopener noreferrer">Click here</a> to view open positions. http://www.bcbsm.com

keywords: summary,analysis,technical,quality assurance,administration,training,communication,sales,knowledge,degree,management,experience,finance

Full-Time

Competitive Total Compensation Package

Overview: Evaluate and assess risks to safeguard the financial assets of the company.
Responsibilities: <ul> <li>Understand, protect and educate on the financial health of the company by making sound business recommendations and making policy exceptions when appropriate.</li> <li>Calculate renewal rates using appropriate rating formulas and procedures and analyze projected financial impacts. Validate that the final renewal rates and associated packaging are correct and ensure quality in rate releases.</li> <li>Explain the components of rate changes to internal and external stakeholders (sales, agents, consultants, and employer groups).</li> <li>Prepare documents for and facilitate discussions on executive rate reviews involving multiple levels of internal leadership and impacted business segments.</li> <li>Create quotes for prospective &amp; existing customers using demographic characteristics and/or claims experience. Analyze participation levels, contribution methodology, industry classification, and other carrier information available. Apply knowledge of national and local competitive information to rating decisions. Facilitate the negotiation of final rates and or applicable administrative costs with enrolled and prospective customers.</li> <li>Provide consultative analysis related to how BCBSM/BCN products and discounts add value. Attend and contribute to meetings with internal and external stakeholders.</li> <li>Represent department and/or division as a Subject Matter Expert for various technical/system/training issues on cross-functional workgroups. Communicate updates to leadership and recommend approaches for implementing change.</li> <li>Provide training and mentoring to other members of the Rating and Underwriting department including: review and approval of casework, systems, department processes, implementation of new policies and procedures, and assisting with departmental planning activities.</li> <li>Rotate among multiple underwriting departments to address critical ad-hoc projects and business needs.</li> <li>Other duties as assigned.</li> </ul>
Requirements: <ul> <li>Bachelor's Degree with a major in Finance, Accounting, Business Administration, Economics, Mathematics, Statistics or related field required. Masters Degree preferred.</li> <li>Four (4) or more years in an underwriting, actuarial or data analytical position required.</li> <li>Ability to analyze financial data, draw valid conclusions, suggest reasonable solutions and prepare summary reports required.</li> <li>Strong understanding of mathematics principals and their practical applications required.</li> <li>Working knowledge of rating formulas, self funded and alternative financial arrangements, and the systems and mainframe applications required.</li> <li>Strong verbal and written and relationship management skills required.</li> <li>Good organizational and time management skills with an ability to handle multiple tasks.</li> <li>Knowledge of actuarial and group insurance principles, health care benefits and claims processing procedures.</li> <li>Ability to function independently under minimal supervision adjusting effectively to changes in work and keeping an open mind to new and better ways of accomplishing results.</li> <li>Knowledge of Microsoft Excel, Word and Powerpoint required.MS Access &amp; Visual Basic preferred.</li> <li>Knowledge of sales distribution channel required</li> <li>Knowledge of Federal and State laws and regulations related to health care delivery systems (HMO, PPO, ACO, etc.) required.</li> </ul> <div id="gtx-trans" style="position: absolute; left: -129px; top: 26px;">&nbsp;</div>