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Senior Actuarial Analyst
Job Details
full-time
Chicago, Illinois, United States
Cigna
Salary : $90000 Annually
05/21/2025
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Full Job Description
Cigna is seeking a Senior Actuarial Analyst to join our team
in Chicago, Illinois. This role is critical for performing complex
actuarial calculations, analysis, and modeling to support product
development, pricing, reserving, and financial reporting for our
health insurance products. You will work with large datasets, utilize
actuarial software, and collaborate with various teams including
finance, product development, and underwriting. This position requires
strong analytical and quantitative skills, progress towards actuarial
credentials, and experience in the health insurance
industry.
Responsibilities:
Qualifications:
Responsibilities:
- Perform complex actuarial calculations and analysis related to pricing, reserving, forecasting, and financial reporting for health insurance products.
- Develop, maintain, and run actuarial models using specialized software (e.g., GGY AXIS, Prophet).
- Analyze historical data and trends to inform assumptions for modeling and forecasting.
- Contribute to the development of new insurance products and pricing strategies.
- Support the preparation of regulatory filings and compliance documentation.
- Collaborate with underwriting, finance, and clinical teams.
- Prepare reports and presentations summarizing actuarial findings and recommendations for management.
- Conduct experience studies and analyze profitability.
- Ensure data accuracy and integrity used in actuarial analysis.
- Participate in peer review of actuarial work.
- Stay updated on changes in actuarial standards, regulations, and industry practices.
- Identify and implement process improvements in actuarial workflows.
- Provide technical guidance and support to junior analysts.
- Assist with reserve calculations and liability valuations.
- Contribute to the development of business plans and financial projections.
- Utilize programming languages for data manipulation and analysis (e.g., SQL, R, Python).
- Troubleshoot issues within actuarial models.
- Prepare documentation for actuarial assumptions and methodologies.
- Support internal and external audits related to actuarial reserves and filings.
- Work towards obtaining actuarial credentials (ASA, FSA).
- Present findings to non-actuarial audiences.
- Participate in cross-functional projects.
- Develop strong working relationships with internal stakeholders.
- Ensure compliance with Actuarial Standards of Practice (ASOPs).
- Manage multiple analytical tasks simultaneously.
- Assist with risk assessment and management.
- Contribute to the development of actuarial tools and systems.
- Analyze the impact of healthcare reform and regulatory changes.
Qualifications:
- Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Economics, or a related quantitative field.
- 3+ years of experience in actuarial analysis within the health insurance industry.
- Significant progress towards obtaining actuarial credentials (Associate of the Society of Actuaries - ASA or Fellow of the Society of Actuaries - FSA).
- Experience with actuarial modeling software is highly desirable.
- Strong analytical, quantitative, and problem-solving skills.
- Proficiency in data manipulation tools and languages (e.g., SQL).
- Excellent written and verbal communication skills.
- Ability to work independently and as part of a collaborative team.
- Strong organizational skills and attention to detail.
- Ability to manage multiple tasks and deadlines effectively.
- Experience with financial reporting and GAAP/STAT accounting for insurance is a plus.
- Knowledge of healthcare data and trends is beneficial.
- Experience mentoring junior staff is a plus.
- Ability to present complex technical information clearly.
- Advanced proficiency in Microsoft Excel.
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Senior Actuarial Analyst
Cigna
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