Actuarial Analyst - Employee Health & Benefits

Marsh•Sioux Falls, SD

14h•Hybrid

About The Position

Actuarial Analyst – EH&B Our not-so-secret sauce. Award-winning, inclusive, Top Workplace culture doesn’t happen overnight. It’s a result of hard work by extraordinary people. The industry’s brightest talent drive our efforts to deliver purposeful work and meaningful impact every day. Learn more about what makes us different and how you can make your mark as an Actuarial Analyst at MMA. Marsh McLennan Agency (MMA) provides business insurance, employee health & benefits, retirement, and private client insurance solutions to organizations and individuals seeking limitless possibilities. With offices across North America, we combine the personalized service model of a local consultant with the global resources of the world’s leading professional services firm, Marsh McLennan (NYSE: MMC). A day in the life. As our Actuarial Analyst on the Employee Health & Benefits team, you’ll conduct actuarial analysis and modeling, collaborate with clients to understand their risk management needs, assess and quantify risks associated with insurance programs, ensuring regulatory compliance, and performing data analysis and reporting. Expertise will contribute to optimizing insurance programs, delivering tailored solutions, and providing valuable insights to clients and internal stakeholders.

Requirements

Bachelor’s degree in mathematics, statistics, economics or a similar field
Current Life & Health licensure or ability to obtain within 90 days
Exceptional Analytical Ability, as demonstrated through course work and experience
Pro-actively form productive working relationships with other team members, decision markers, insurance carrier personnel
Highly motivated and strong work ethic with consistent initiative and follow through on projects and tasks to completion while meeting deadlines; ability to work independently toward objectives with a sense of urgency.
Good communication, persuasion, writing, and editing abilities with a keen eye for detail; proofs work and makes changes as necessary
Superb computer skills, including Excel, Word, PowerPoint as well as data management and database applications. Ability to use the Internet for business information and communications
Identification and implementation of new processes as required to improve company efficiency and effectiveness

Nice To Haves

Adaptable and able to change priorities and multi-task regularly to meet deadlines
Capable of maintaining the strictest confidentiality regarding client and company data and information

Responsibilities

Analysis, including drill down, into the utilization and unit cost drivers of medical and pharmacy expenses; development of recommendations related to plan designs, contributions and types of care and providers warranting attention
Review and/or prepare annual benefit plan renewals for clients; interact effectively with insurance carrier underwriting and actuarial personnel to ensure clients are receiving fair and equitable ratings and premiums
Development of modeling tools and spreadsheets for use by the organization to help clients, prospective clients, and their employees to make better informed decisions on all benefit plans, including consumer directed health care such as health savings accounts and health reimbursement arrangements
Develop models to predict the pattern of IBNR reserves with greater accuracy and reduced variance
Effectively communicating actuarial concepts and findings to both technical and non-technical stakeholders. Presenting complex information in a clear and concise manner.
Assess or provide tools to help assess the financial terms of carrier proposals on all types of employee benefit programs, including medical, pharmacy, dental and voluntary products
Working collaboratively with cross-functional teams delivers comprehensive solutions and achieves common goals.
Staying updated on industry trends, advancements in actuarial science, and regulatory changes. Actively pursuing professional development opportunities and maintaining relevant certifications.