Employee Benefits Business Analyst II

USI Insurance Services • Dallas, TX

274d

About The Position

The Employee Benefits Analyst II is responsible for analyzing information and creating financial deliverables for clients with standard to complex benefit programs, including fully insured and self-funded clients. The typical client size ranges from 100 to 1,000 lives. This role involves preparing standard analyses with occasional customization, which may include market review analysis, renewal rate and funding projections, claims utilization analysis, and financial funding analysis. The analyst will also develop alternative strategies, perform technical analysis of group insurance contracts, and serve as the primary contact with insurance carriers, negotiating coverage for new business quotes and renewals. Additionally, the analyst will write client-facing executive summaries and prepare written correspondence for carriers and clients.

Requirements

• 3 years + of experience in employee benefits or related field.
• High School Graduate; College degree preferred.
• Must hold or be willing to obtain a state Life & Disability insurance license.
• Ability to work in a fast-paced, team environment with minimal instruction.
• Ability to manage and negotiate multiple priorities and deadlines.
• Strong written, verbal, and interpersonal communication skills.
• Working knowledge of Microsoft Office products, including Excel and Word.
• Ability to become proficient in internal analytic systems and carrier online reporting tools.
• Strong problem solving and critical thinking skills.
• Ability to carry out complex tasks with many concrete and abstract variables.

Responsibilities

• Responsible for financial analytics for clients that are fully insured and self-funded.
• Prepare standard analyses with occasional customization.
• Conduct market review analysis, renewal rate and funding projections, claims utilization analysis, rate and contribution analysis, claims experience reports, benchmarking, and financial funding analysis.
• Develop alternative strategies, plan modeling, and cost reduction opportunities.
• Perform technical analysis of group insurance contracts and financial arrangements.
• Serve as primary contact with insurance carriers, negotiating and marketing coverage for new business quotes and renewals.
• Develop and maintain excellent carrier relationships.
• Review and validate carrier renewal rating illustrations.
• Analyze experience and claims utilization data for financial and plan usage conclusions.
• Write client-facing Executive Summaries with observations, conclusions, recommendations, and next steps.
• Prepare carrier and client written correspondence.
• Conduct analysis using USI internal and third-party external tools.
• Participate in peer review process as a participant and a reviewer.
• Occasionally participate in new Analyst onboarding training.
• Keep current on industry and new product information, legislation, technology, and trends.

Benefits

• Medical, wellness, dental and vision insurance.
• 401(k) plan.
• Flexible spending and health savings accounts.
• Short and long-term disability insurance.
• Life insurance.
• Generous paid time off policy.
• Paid family leave benefit.
• Paid holiday time.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Industry: Insurance Carriers and Related Activities
• Education Level: Bachelor's degree