Rating & Underwriting Analyst II

<p>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.</p>

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.<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 />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: professional,analysis,support,consulting,quality assurance,compliance,claims,knowledge,degree,skills,experience


Competitive Total Compensation Package

Overview: <strong>Evaluate and assess risks to safeguard the financial assets of the company.</strong>
Responsibilities: <ul> <li>Understand and protect the financial health of the company by making sound business recommendations and decisions.&nbsp;</li> <li>Calculate renewal rates using appropriate rating formulas and procedures and analyze projected financial impacts.&nbsp;</li> <li>Validate that the final renewal rates and associated packaging is correct and ensuring quality in rate releases.</li> <li>Calculate quarterly and annual settlements &amp; prepare ERISA reports.&nbsp;</li> <li>Create quotes for customers using demographic characteristics and/or claims experience.&nbsp; Analyze participation levels, contribution methodology, industry classification and other carrier information available. Apply knowledge of national and local competitive information to rating decisions.</li> <li>Provide support to Senior Rating &amp; Underwriting Analysts in explaining the components of rate changes and financial information to internal and external stakeholders (customers, sales, agents, consultants and employer groups).&nbsp;</li> <li>Apply underwriting and rating policies when reviewing exception requests and prepare recommendations to leaders that includes financial and operational impacts.&nbsp;</li> <li>Respond to internal and external requests for specific analysis regarding customers need to better understand the financing of health care in conjunction with an employer&rsquo;s benefit offerings.</li> <li>Develops special analysis to illustrate financial trends and its impact on specific group costs and expenses.&nbsp;</li> <li>Provide support to new underwriters related to underwriting, rating, systems and departmental processes.&nbsp;</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.</li> <li>Two (2) years&rsquo; experience in an Underwriting, Pricing, Accounting or Financial Analysis position.</li> <li>Ability to analyze financial data and prepare summary reports required.</li> <li>Good understanding of mathematics principals and their practical applications required.</li> <li>Good verbal and written communication skills required.</li> <li>Strong organizational skills including the ability to handle multiple tasks and timelines.</li> <li>Knowledge of Microsoft Excel, Word, Powerpoint required. MS Access &amp; Visual Basic preferred.</li> <li>Knowledge of rating systems and mainframe applications preferred but not required.</li> <li>Knowledge of sales distribution channel preferred but not required.</li> <li>Knowledge of Federal and State laws and regulations related to health care delivery systems (HMO, PPO, ACO, etc.) preferred but not required.</li> </ul>