Rating & Undwtg Anlyst 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.&nbsp; http://www.bcbsm.com

keywords: professional,analysis,support,consulting,quality assurance,compliance,claims,knowledge,degree,experience,skills

Full-time

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 it&rsquo;s 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> <p>Departmental Preferences</p> <p>The incumbent will review financial data, group and member characteristics to determine financial risk associated with the acceptance or rejection of proposed and existing business. Must have strong analytical skills and be proficient in Excel; Access preferred.</p>