Actuarial Analyst

Lockton • Chicago, IL

36d

About The Position

This role involves collaborating with client service and actuarial/financial teams to manage data, prepare reports, and build models for self-funded clients. The analyst will deliver financial reporting and insights related to health benefit plans, estimate the impact of changes on client costs, and support reserve estimates. The position also requires producing custom analytics, developing expertise in financial and actuarial reporting, learning internal systems, staying updated on industry trends, and contributing to a positive client experience. Participation in team meetings and training is expected.

Requirements

• Bachelor’s degree in actuarial science, mathematics, statistics, finance, economics, or related quantitative field.
• Strong analytical and quantitative skills with an interest in actuarial career progression (including pursuit of at least ASA designation).
• Excellent communication and customer service skills with the ability to support multiple client team relationships.
• Strong computer skills, including proficiency in Microsoft suite, especially Excel (pivot tables, formulas, data manipulation).
• Excellent organizational skills and attention to detail.
• Legal right to work in the United States.

Nice To Haves

• 2+ years of health benefits experience at a brokerage/consulting firm or insurance carrier preferred.
• Completion of actuarial exams preferred; candidates with 2 or more exams encouraged to apply.
• Working knowledge of employee benefits, health insurance, and/or risk concepts preferred (job, school coursework and internship experience all accepted).
• experience with VBA, SQL, Python, or similar programming language is a plus.

Responsibilities

• Work collaboratively with client service and actuarial/financial teams to collect, validate, and reconcile data for accuracy and consistency.
• Integrate data from multiple sources into actuarial and financial client reports and deliverables.
• Prepare routine financial and actuarial reports for self‑funded clients including ongoing claim reporting, rate setting, contribution development and plan design modeling; partner with client service teams to review findings and trends.
• Assist in delivery of comprehensive financial reporting and insights to clients related to their health benefit plans.
• Build and maintain basic to moderately complex actuarial models to analyze, illustrate, and project medical/Rx loss trends and client plan performance.
• Prepare spreadsheets, graphs, charts, and other visualization tools to clearly communicate healthcare-related insights to clients.
• Utilize actuarial and financial modeling tools to estimate the potential impact of health plan design changes, regulatory changes, and health reform on client costs.
• Support development of health plan reserve estimates for self-funded clients.
• Produce custom analytics and reporting for unique client requests, leveraging actuarial and benchmark data where appropriate.
• Serve as a developing Subject Matter Expert on financial and actuarial reporting, building expertise over time.
• Learn and apply internal systems, tools, and modeling platforms to improve efficiency and analytical accuracy.
• Stay current on insurance/benefits industry developments, emerging trends, and actuarial best practices.
• Contribute to a positive client experience through accuracy, responsiveness, and clear communication.
• Participate in internal team meetings and trainings, including actuarial skill development sessions.
• Perform other responsibilities as assigned.

Benefits

• Competitive pay and benefits
• Complies with all relevant state/local pay transparency laws
• May be eligible for an annual performance bonus, based upon the financial performance of the organization and the individual contributions of the Associate.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level