Hybrid Principal Actuary – Pharmacy Benefit Manager Oversight

Posted 12 hours ago

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About the role

  • Principal Actuary providing oversight on Pharmacy Benefit Management processes at Blue Cross NC. Engaging in contract modeling, analytics, and strategic collaboration to enhance pharmacy benefits.

Responsibilities

  • Translate complex PBM contractual terms into robust financial/actuarial models, ensuring all contractual requirements are met or exceeded.
  • Lead the setup and implementation of new, complex PBM arrangements.
  • Perform detailed PBM rebate reconciliations, ensuring accuracy in financial forecasting and payment accuracy.
  • Develop and maintain sophisticated models to forecast rebates, analyze pharmacy cost trends, and identify opportunities for savings.
  • Work with key stakeholders (Pharmacy Operations, Finance, Legal) to align pharmacy strategy with broader health plan goals.
  • Monitor industry news, regulatory changes, and competitive landscape to maintain a competitive position.
  • Indirectly manage and mentor less senior actuarial team members, fostering growth in pharmacy financial acumen.

Requirements

  • Bachelor's degree or advanced degree (where required)
  • Associate of the Society of Actuaries(ASA) and Member of the American Academy of Actuaries (MAAA)
  • 5+ years of experience in related field
  • In lieu of an ASA, alternate actuarial credentials may be considered.
  • In lieu of 5 years of experience, may consider candidates who are Fellows of the Society of Actuaries (FSA).
  • Experience with PBM contract negotiation, GPOs, 340b, Pharmacy Network Contracting, and/or Pharmacy Rebate Contracting – Highly Preferred
  • Experience with Specialty Pharmacy modeling
  • Excellent verbal and written communication skills, with the ability to explain complex financial/actuarial information to non-technical audiences and senior leadership.
  • Proven ability to build relationships and work effectively with internal and external partners. – Highly Preferred
  • Expert-level knowledge of SAS, SQL, and advanced Excel – Highly Preferred
  • Experience building complex financial models.
  • Exceptional analytical and creative problem-solving skills.
  • Ability to work effectively in a team-based, collaborative environment.
  • Self-motivated, resourceful, and able to work independently in a fast-paced, high-growth environment.

Benefits

  • Medical, dental, and vision coverage along with numerous health and wellness programs.
  • Parental leave and support plus adoption and surrogacy assistance.
  • Career development programs and tuition reimbursement for continued education.
  • 401k match including an annual company contribution.

Job title

Principal Actuary – Pharmacy Benefit Manager Oversight

Job type

Experience level

Lead

Salary

$118,691 - $189,906 per year

Degree requirement

Bachelor's Degree

Tech skills

Location requirements

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