Senior Health Actuarial Consultant - FSA or near-FSA
Mercer is a global consulting leader in talent, health, retirement and investments. Mercer helps clients around the world advance the health, wealth and performance of their most vital asset - their people. If you thrive on challenge, are passionate about ideas, love solving problems and truly enjoy connecting with people, we encourage you to explore the many job opportunities available through Mercer. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global team of professional services companies offering clients advice and solutions in the areas of risk, strategy and human capital.
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 the clients of potential financial risks accordingly. At this level, the senior actuarial consultant will oversee large, complex projects and may serve as the overall client H&B lead consultant. A part of this role is also to act as a mentor to junior and mid-level actuarial staff and oversee their development of actuarial and consulting skills.
To fulfill this role, the Senior H&B Actuarial Consultant will:
- Lead complex client engagements, including managing overall service delivery, strategy, financial evaluations, plan design, renewal, business placement, benchmarking and other studies.
- Develop sophisticated benefits design and renewal strategies and drive the development of tools and solutions to address complex client issues.
- Provide management of the financial analysis for clients, from mid-market to the most complex and/or largest clients, including more in-depth analysis for complex situations that require additional research or discussion with Mercer subject matter experts.
- Independently manage a team of mid-level and more senior resources to complete the following:
- Identify strategic opportunities to reduce short-term and long-term costs and cost volatility for clients and prospects
- Price, evaluate and deploy non-standard and complex financial solutions, e.g. consumer centric plan designs, population health risk assessments, program wide risk pooling, etc.
- Analyze cost drivers and develop health program performance metrics and process support tools, including: health program dashboards, benchmark and baseline cost metrics, innovative vendor management processes, etc.
- Project retiree medical claims costs and other short-term valuation assumptions, including Medicare part D Actuarial Equivalence testing and certification, and SFAS 112 liabilities
- Conduct routine financial projections
- Leverage Mercer's size and reputation to analyze and negotiate highly competitive rates and coverage options from carriers and vendors
- Develop and model employee contribution strategies
- Communicate and evaluate vendor network claims cost structures and administrative fees
- Determine the full scope of services provided to the client and set roles/responsibilities within the client team in order to:
- Leverage work to the most appropriate career level/grade
- Delegate effectively to provide developmental opportunities to team members
- Ensure use of appropriate Mercer tools in the development and execution of client strategy
- Provide mentoring and coaching to direct reports and project team members
- Coordinate actuarial resources for national projects
- Manage projects from start to finish including accountability for:
- Scope, timeliness and client satisfaction
- Quality and timeliness of client deliverables
- Budgets and billing reports
- Revenue/profitability for client accounts and projects
- Clear and concise client-friendly communications
- Communicate Mercer's position on latest industry trends to clients
- Incorporate compliance and professional standards into all work processes, including transparency, actuarial modeling, peer review and maintenance of required licensure
- Contribute to Mercer's development of intellectual capital and leading edge analysis
- Participate in Mercer's Actuarial and Financial Group (AFG) and product development efforts
- Act as a technical leader and resource, and provide workflow triage within the office and market
- Establish effective carrier/vendor relationships to serve clients in benefits procurement and administration (eligibility, claims, billing, plan implementation, contracts, plan changes and necessary amendments)
- BA/BS degree;FSA or near-FSA designation
- 10+ years' experience in identifying, designing, recommending and implementing efficient, innovative business solutions to clients' complex health care benefits challenges
- 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, strategic planning, communication, and listening 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
- Proven management skills in leading large, complex projects and managing actuarial colleagues
- Ability to manage, motivate, and mentor more junior level staff
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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