Financial Consultant - Employee Benefits

IMA Financial Group•Portland, OR

7d•Hybrid

About The Position

This role supports and demonstrates IMA’s core values, including a commitment to diversity, equity, and inclusion. The Financial Strategy Consultant will lead complex technical work and strategic financial consulting regarding employee benefit plans. This includes communicating technical analysis to clients about cost projections, savings opportunities, and risk management, as well as driving local process improvements and supporting innovation. The role involves preparing and managing RFPs for self-funded TPA and stop loss submissions, collecting and reviewing proposals, and updating marketing results. Additionally, the consultant will initiate reviews of renewals for various benefit plans, lead renewal analysis recommendations, and utilize actuarial models to assess risk and plan structure changes. Negotiation with carriers, maintaining vendor relationships, and providing various financial analyses such as benchmarking, contribution, disruption, network, stop loss deductible, and GeoAccess are key responsibilities. The role also includes providing and communicating underwriting cost projections and self-funded IBNP analysis, assessing risk and funding structures, and building customized reports. Client presentations will be prepared and delivered as part of a team. The consultant will also provide mentorship to analysts, perform technical reviews, and serve as a subject matter expert and peer reviewer, ensuring quality standards are met.

Requirements

4+ years of similar or related experience
Prefer college graduate, 4-year degree or equivalent experience
Proficiency with MS Office Suites
Attains Life and Health license & maintains through continuing education requirements
Limited travel required (less than 25%)
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

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.
With minimal guidance, 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.