Financial Consultant - Employee Benefits

IMA Financial Group•Portland, OR

7d•$100,000 - $120,000•Hybrid

About The Position

This role involves providing complex technical work and strategic financial consulting regarding employee benefit plans. The Financial Consultant will communicate technical analysis to clients concerning cost projections, savings opportunities, and risk management. They will also drive local process improvements and support innovation within the company. The position requires preparing and managing RFPs for self-funded TPA and stop loss submissions, collecting and reviewing proposals, and updating marketing results. Additionally, the role involves initiating reviews of fully insured and self-funded renewals, leading recommendations based on renewal analysis, and utilizing actuarial models. The consultant will negotiate with carriers, maintain vendor relationships, and provide various financial analyses such as benchmarking, contribution, disruption, network, stop loss deductible, and GeoAccess analysis. They will also provide and communicate underwriting cost projections for self-funded medical/Rx, dental, and vision products, and develop and communicate self-funded IBNP analysis. Assessing proper risk and funding structures and presenting findings to clients is also a key responsibility. The role requires analyzing data for inconsistencies and trends, providing written and oral summaries of findings, and building customized reports. The Financial Consultant will prepare and present client presentations as part of a team and provide mentorship and technical review to analysts, serving as a subject matter expert and peer reviewer.

Requirements

4+ years of similar or related experience
Proficiency with MS Office Suites
Attains Life and Health license & maintains through continuing education requirements
Understands concepts of underwriting and actuarial computations
Analyzes and interprets data
Effectively manages multiple projects while meeting timelines
Ability to be firm and persuasive when needed, while maintaining good relationships
Handles confidential information with tact and discretion

Nice To Haves

Prefer college graduate, 4-year degree or equivalent experience

Responsibilities

Leads complex technical work and strategic financial consulting regarding employee benefit plans
Communicates technical analysis to clients regarding cost projections, savings opportunities, and proper risk management
Drives local process improvements and supports innovation
Prepares and manages RFP for all self-funded TPA and stop loss submissions to market with Client Executive direction
Collects, manages, and reviews proposals on self-funded TPA and stop loss marketing events
Updates marketing results into spreadsheet ensuring accuracy to be used internally and in client presentation
Initiates review of fully insured medical, and self-funded TPA and stop loss renewals, including plans, cost, contributions and contract terms
Leads recommendations to client regarding renewal analysis
Utilizes actuarial models to assess changes to risk and plan structure
Negotiates with carriers based on client’s targeted goals
Maintains ongoing relationships with carrier and vendor partners
Provides analysis for benchmarking, contribution, disruption, network, stop loss deductible and GeoAccess analysis
Provides and communicates underwriting cost projections for self-funded medical/Rx, dental, and vision products.
Develops and communicates self-funded IBNP analysis to client
Assesses proper risk and funding structures such as fully insured vs. self-funded analysis, and presents findings to client to align with client goals
Analyzes data for inconsistencies and trends
Provides a written and oral summary of findings to Client Executive, and directs strategic considerations for managing cost
Builds and customizes reports to fit client needs
Prepares client presentations and presents in front of client with as part of team with Client Executive, Client Manager, and various subject matter experts.
Provides mentorship to analysts and performs technical review of work
Serves as a subject matter expert for specific financial strategy functions, and leads local process improvements
Serves as experienced peer reviewer, ensuring standards of practice and work quality standards are met