Pharmacy Benefits Actuarial Consultant

Marsh McLennan•Chicago, IL

1d•$93,500 - $187,000•Hybrid

About The Position

We are seeking a talented individual to join our Pharmacy Benefits Management practice at Mercer. This role will be based in a hybrid environment, requiring at least three days a week in the office. As a Pharmacy Benefits Actuarial Consultant, you will serve as a senior resource to the Actuarial and Financial Group (AFG), reviewing policy and modeling issues including Pharmacy trends. Priorities will be leading consulting engagements with large employers regarding the financial evaluation of pharmacy benefit plans and programs and assisting in negotiations with benefits carriers and vendors to secure plan coverage for these employers.

Requirements

BA/BS degree required
5+ years of experience in financial analysis consulting and/or actuarial work
Experience identifying, designing, recommending and implementing efficient, innovative business solutions to clients' complex challenges
Superior analytical and mathematical skills, strategic planning, communication, and listening skills
Excellent organizational and project management skills with the ability to prioritize and handle multiple and complex tasks in a demanding work environment
Proven management skills in leading large, complex projects

Nice To Haves

Master's degree highly valued
Pharmacy Financial Consulting experience is preferred
ASA or FSA designation
Actuary expertise preferred
Underwriting experience preferred

Responsibilities

Manage pharmacy projects and junior staff in completion of program review, financial assessments, implementations, plan design analyses and financial projections, pharmacy renewals, benchmarking, pharmacy benefit marketing, diagnostic reports, vendor and performance management
Establish effective carrier/vendor relationships to serve clients in benefits procurement and administration
Leverage Mercer's size and reputation to negotiate highly competitive rates and coverage options from carriers and vendors
Interact with members of the Managed Pharmacy Practice (MPP) client teams and Mercer H&B teams
Develop sophisticated benefits design and renewal strategies
Effectively communicate Mercer's position on latest industry financial trends to clients and Mercer H&B consultants
Monitor success of projects in terms of scope, budget, timeliness and client satisfaction
Incorporate compliance and professional standards into all work processes, including transparency, actuarial, peer review and maintaining required licensure