Health & Benefits Actuarial Consultant
The Senior Health Actuarial Consultant will manage the accurate and timely data and financial analysis on various actuarial/financial projects for pricing of medical, dental, life and disability programs and advise clients accordingly. The level of support depends on the size of client as well as complexity and revenue of the account - at this level the senior consultant is considered the client owner for larger clients. A part of this role is also to act as a mentor to more junior actuarial staff and oversee their basic actuarial work. To fulfill this role, the senior actuarial consultant will:
- Provide management of the financial analysis for more complex and/or larger clients, including more in-depth analysis for complex situations that require additional research or discussion with Mercer subject matter experts. For less complex and involved work, will oversee the analysis of more junior staff.
- Price and evaluate consumerism plan (high deductible health plans with provisions to create greater consumer awareness) using Mercer's internal pricing model to compare designs; results are typically presented to client as part of a strategy or plan design discussion
- Analyze cost drivers by reviewing client's cost/utilization data and looking for year-over-year trends or comparisons to external benchmarks using data provided from client's vendor reports or raw data from external databases; key results are summarized and presented to client to help understand cost drivers and modify plan design
- Project retiree medical costs by entering the client's retiree cost and enrollment data for both pre-Medicare and Post-Medicare; results are used by Retirement to develop retiree medical liabilities used by the client and their auditors for accounting purposes
- Oversee the financial analysis work of a more junior team members, including: preparing basic cost projections, analyzing vendor renewals, pricing medical and prescription drug plan designs, and developing employee contributions scenarios
- Manage actuarial projects from start to finish, including managing quality/timeliness of client deliverables, developing budgets and billing reports, acting as senior client contact for financial work and preparing/delivering concise communications and results to client.
- Demonstrate an expert level of understanding of Health & Benefits products, services and technical tools offered by Mercer; vendor/carrier markets, underwriting/actuarial skills, budget-setting, rate setting and evaluation. Will also train and mentor others on these.
Our ideal candidate will have these core competences:
- BA/BS degree
- 10+ years' of health or relevant health actuarial experience required
- Advanced knowledge of employee benefit underwriting. Thorough understanding of complex benefit concepts such as health care management, flexible benefits and alternative funding
- Superior analytical and mathematical skills, strong command of Excel,
- Strong strategic planning skills
- Excellent interpersonal skills, strong oral and written communication skills
- Excellent organizational and project management skills with the ability to prioritize and handle multiple and complex tasks in a demanding work environment
- Strong critical thinking and analytical problem-solving skills
- Ability to manage, motivate, and mentor more junior level staff
- Ability to work independently and on a team.
- Actuarial credentials (ASA, FSA) preferred
At Mercer, we make a difference in the lives of more than 110 million people every day by advancing their health, wealth, and careers. We're in the business of creating more secure and rewarding futures for our clients and their employees - whether we're designing affordable health plans, assuring income for retirement or aligning workers with workforce needs. Using analysis and insights as catalysts for change, we anticipate and understand the individual impact of business decisions, now and in the future. We see people's current and future needs through a lens of innovation, and our holistic view, specialized expertise, and deep analytical rigor underpin each and every idea and solution we offer. For more than 70 years, we've turned our insights into actions, enabling people around the globe to live, work, and retire well. We embrace a culture that celebrates and promotes the many backgrounds, heritages and perspectives of our colleagues and clients. At Mercer, we say we Make Tomorrow, Today . Visit www.mercer.com for more information and follow us on LinkedIn and Twitter @Mercer
Marsh & McLennan Companies offers competitive salaries and comprehensive benefits and programs including: health and welfare, tuition assistance, 401K, employee assistance program, domestic partnership benefits, career mobility, employee network groups, volunteer opportunities, and other programs. For more information about our company, please visit us at: http://www.mmc.com/. We embrace a culture that celebrates and promotes the many backgrounds, heritages and perspectives of our colleagues and clients. For more information, please visit us at: www.mmc.com/diversity.
Mercer LLC and its separately incorporated operating entities around the world are part of Marsh & McLennan Companies, a publicly held company (ticker symbol: MMC).
Marsh & McLennan Companies and its Affiliates are EOE Minority/Female/Disability/Vet/Sexual Orientation/Gender Identity employers.
Back to top