Employee Benefits Financial Analyst

Marsh & McLennan Companies • Conshohocken, PA

105d • $60,700 - $96,900

About The Position

The primary role of the Financial Analyst is to work with the Account Teams on assigned cases, providing financial analysis and utilizing modeling tools to evaluate benefit programs and their impact on overall business objectives, including the management and control of client risks and losses.

Requirements

• Bachelor's Degree in Risk Management, Insurance, Actuary, Mathematics and/or other related field is required.
• Minimum of 3 year's experience in the Benefits Brokerage, Consulting, or Insurance industry is preferred with an emphasis on Life & Disability.
• Intermediate working knowledge of MS Excel is required (i.e. ability to perform pivot tables, macros, and intermediate formulas).
• Effective analytical, math and problem solving skills, sound judgment, strong decision making ability, confidence to make difficult decisions and excellent communication skills.
• Must be organized, detail oriented and able to translate big picture ideas into client objectives.

Nice To Haves

• Strong organizational, analytical skills and strong attention to detail.
• Excellent troubleshooting, decision making and problem solving skills.
• Must have strong negotiation and persuasion skills.
• Must be a goal oriented self-starter.
• Solid interpersonal, verbal and written communication skills.
• Ability to work well independently and as a team member.
• Ability to multitask and successfully operate in a fast-paced work environment.
• Ability to prioritize projects and meet deadlines.
• Ability to follow through on and successfully execute tasks while adhering to specified quality standards.
• Demonstrated ability to provide superior customer service and maintain positive relationships with client contacts.
• Proficiency in Microsoft Office Suite, including MS Word (intermediate), Excel (advanced) and Access (intermediate).
• Proficiency in use of PC such as keyboard skills and electronic folder/file organization and management.
• Aptitude for learning internal systems, applications and internal work flow of the department.
• Must be able to effectively interact and deal with people at all levels inside and outside of the company.

Responsibilities

• Perform underwriting, financial, and risk analysis support for internal sales teams and their respective consulting clients.
• Prepare plan design and financial analysis for existing and prospective customers by utilizing modeling tools and various reporting techniques.
• Responsible for clients' benefits marketing process, such as: data acquisition, request for proposal (RFP) preparation, vendor question resolution, proposal review and analysis, and client exhibit and presentation preparation.
• Perform the analysis and negotiation of rates and plan options with insurers on behalf of clients to secure optimal, cost-competitive benefit plans.
• Validate renewals and proposals for accuracy.
• Provide the definition of clients' employee contribution modeling and strategies.
• Assist with the evaluation, determination and recommendation of alternative coverage, pricing options, and plan design changes based on economic analysis of available plan elements related to client goals.
• Perform various reporting for plan change evaluations, budget and reserve calculations, and other on-going reviews.
• Participate in prospective client data analysis and presentations.
• Participate in special underwriting projects as needed.
• Maintain quality service standards and organization to assure timely service to MMA team.
• Research and remain abreast of the dynamic, competitive insurance environment, new and complex insurance projects, appropriate underwriting techniques and constantly changing legislation that governs business.

Benefits

• Health and welfare benefits
• Tuition assistance
• 401K savings and other retirement programs
• Employee assistance programs

What This Job Offers

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