Health Consulting Actuary - Minneapolis

The Health & Benefits (H&B) Actuarial Consultant will provide accurate and timely data and financial analysis on various actuarial/financial projects for pricing of medical, dental, vision, life and disability programs. This position also mentors more junior actuarial staff and oversees their basic actuarial work. To fulfill this role, the Actuarywill:

  • Price medical and prescription drug plan designs using Mercer's internal pricing model to compare relative pricing differences between the 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 comparing to external benchmarks based on data from client's vendor reports or from external databases; key results are summarized and presented to client to help understand cost drivers and help modify plan design
  • Analyze vendor renewals by checking quoted rates for reasonableness and by analyzing claims and enrollment data, trend rates, administrative expenses and other charges
  • Develop employee contribution scenarios, taking into account the cost-sharing goals of the client
  • Perform analyses for large and complex clients, including in-depth analysis for complex situations that may require additional research or discussion with Mercer subject matter experts
  • Perform cost projections based on the client's historical cost and enrollment data, using Mercer's internal tools that project costs for the next plan year
  • Project retiree medical costs for both pre-Medicare and post-Medicare; results are used by Mercer's Wealth practice to develop retiree medical liabilities used by the client and their auditors for accounting purposes
  • Estimate the impact of Medicare Part D legislation using Mercer's Part D pricing model and performing tests to determine whether the client's plans provide "creditable coverage" for prescription drugs and whether a federal government subsidy is available to the client for retiree drug coverage
  • Gather necessary data from the vendor or client; review to ensure it is complete, accurate and reasonable; and prepare data in a particular template or format for use in basic or advanced financial analyses or valuations
  • Oversee the financial analysis work of more junior analysts
  • Begin to manage an actuarial project from start to finish
  • Manage the quality and timeliness of client deliverables
  • Participate in client calls and meetings as appropriate
  • Prepare clear, concise and client-friendly communications
  • Gain an understanding of the more advanced aspects of the following, through online training, group sessions or one-on-one training with others in a more senior role:
    • Health and Benefits products, services and technical tools offered by Mercer
    • Vendor/carrier markets
    • Underwriting and actuarial skills
    • Budget-setting, rate-setting and evaluation
    • Mentoring and training more junior staff

QUALIFICATIONS
  • BA/BS degree
  • Three years of Health and Benefits or relevant actuarial experience required
  • Strong analytical and mathematical skills; strong command of Excel
  • Excellent interpersonal skills; strong oral and written communication skills
  • Ability to prioritize and handle multiple tasks in a demanding work environment
  • Strong critical thinking and analytical problem-solving skills
  • Ability to work independently and on a team
  • Must have passed at least one preliminary Society of Actuaries (SOA) exam or a Valuation of Educational Experience (VEE) component, and plan to continue taking exams.


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.


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