Actuarial Consultant - Employee Health & Benefits

Marsh McLennan

22h•Hybrid

About The Position

Actuarial Consultant – Employee Health & Benefits 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. More than 9,000 of 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 thrive as an Actuarial Consultant 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 170 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 Consultant, you’ll play a lead role in all aspects of analysis and modeling of clients’ medical and pharmacy costs and their drivers. You’ll be responsible for analytical tool development, providing analytical support to others in the organization, and working with our team to develop strategic approaches for our clients based on i and actuarial data. Finally, you will have exceptional verbal and written skills and will interact with internal team members and clients.

Requirements

Bachelor's degree in mathematics, statistics, economics or a similar field.
In process of obtaining ASA designation.
Exceptional Analytical Ability demonstrated through course work and experience.
Ability to pro-actively form productive working relationships with other team members, decision markers, and insurance carrier personnel.
Energetic and self-directed with a high degree of commitment, highly motivated and strong work ethic with consistent initiative and follow through on projects and tasks to completion while meeting deadlines.
Adaptable and able to change priorities and multi-task regularly to meet deadlines.
Experience implementing new processes as required to improve company efficiency and effectiveness.
Capable of maintaining the strictest confidentiality regarding client and company data and information.

Nice To Haves

Successful completion of at least one actuarial exam
ASA designation
Insurance license (required within 6 months of hire)

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.
Provide in person and virtual consultation with clients regarding employee benefits program strategies.
Claim projections and trend analysis for larger clients; tracking of claims and updating forecasts; comparison of funding mechanisms.
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.
Assist with development and integration of data analytics with disability, life and other benefits as requested.
Act as an analytical resource for team members on a daily basis.