Principal Actuary - Pharmacy Benefit Manager (PBM) Oversight

Job Description As a Principal Actuary within our growing Pharmacy Analytics team, you will act as a key member of our enterprise's ability to shape the future of our pharmacy benefits. This highly visible role provides actuarial oversight of our Pharmacy Benefit Manager (PBM). You will be responsible for translating complex contractual requirements into actionable financial models, standing up new, innovative, and complex PBM arrangements, and driving value through rigorous analytics. You will work closely with internal pharmacy leadership and external partners to ensure the company remains competitively positioned in a dynamic marketplace.What You'll Do PBM Contract Modeling & Oversight: Translate complex PBM contractual terms into robust financial/actuarial models, ensuring all contractual requirements are met or exceeded.Strategic Initiatives: Lead the setup and implementation of new, complex PBM arrangements.Rebate & Financial Reconciliation: Perform detailed PBM rebate reconciliations, ensuring accuracy in financial forecasting and payment accuracy.Analytics & Forecasting: Develop and maintain sophisticated models to forecast rebates, analyze pharmacy cost trends, and identify opportunities for savings.Strategic Collaboration: Work with key stakeholders (Pharmacy Operations, Finance, Legal) to align pharmacy strategy with broader health plan goals.Industry Leadership: Monitor industry news, regulatory changes, and competitive landscape to maintain a competitive position.Mentorship: Indirectly manage and mentor less senior actuarial team members, fostering growth in pharmacy financial acumen.What You Bring 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 fieldIn 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).Bonus Points Experience with PBM contract negotiation, GPOs, 340b, Pharmacy Network Contracting, and/or Pharmacy Rebate Contracting -Highly PreferredExperience with Specialty Pharmacy modelingExcellent 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 PreferredExpert-level knowledge of SAS, SQL, and advanced Excel -Highly PreferredExperience 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.What You'll Get The opportunity to work at the cutting edge of health care delivery with a team that's deeply invested in the community.Work-life balance, flexibility, and the autonomy to do great work.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 contributionLearn moreSalary Range At Blue Cross NC, we take great pride in a fair and equitable compensation package that reflects market-price and our starting salaries are typically planned near the middle of the range listed. Compensation decisions are driven by factors including experience and training, specialized skill sets, licensure and certifications and other business and organizational needs.Our base salary is part of a robust Total Rewards package that includes an Annual Incentive Bonus*, 401(k) with employer match, Paid Time Off (PTO), and competitive health benefits and wellness programs. *Based on annual corporate goal achievement and individual performance.$118,691.00 - $189,906.00Skills Actuarial Analysis, Actuarial Modeling, Actuarial Science, Actuarial Services, Benefits Analysis, Budgeting, Complex Project Management, Financial Analysis, Healthcare Management, Office Administration, People Management, Pharmacy, Provider Services, Requirements Management, Support Services, Underwriting Management_____________________________________________________________________JOB ALERT FRAUD:We have become aware of scams from individuals, organizations, and internet sites claiming to represent Blue Cross and Blue Shield of North Carolina in recruitment activities in return for disclosing financial information. Our hiring process does not include text-based conversations or interviews and never requires payment or fees from job applicants. All our career opportunities are published on https://bcbsnc.wd5.myworkdayjobs.com/en-US/BCBSNC. If you have already provided your personal information that you suspect is fraudulent activity, please report it to your local authorities. Any fraudulent activity should be reported to: HR.Staffing@BCBSNC.com.