Principal Health & Benefits and Actuarial Consultant

Marsh McLennan•New York, NY

9d•$115,200 - $230,400•Hybrid

About The Position

As a Principal Health & Benefits and Actuarial Consultant, you will lead strategic client engagements that combine advanced benefits consulting with actuarial and financial analysis. You will serve as a trusted advisor, providing leadership on health and welfare strategy, funding, renewals, and plan design, while shaping client relationships and project outcomes. The role is accountable for engagement success, including client satisfaction, strategic results, and team performance. The position works across medical, pharmacy, dental, vision, life, and disability benefit plans. It involves leading complex client work, directing teams, advising senior stakeholders, reviewing financial analyses and deliverables, and leading renewal discussions, carrier negotiations, and vendor evaluations. You will also build client relationships and contribute to business development, using AI and technology-enabled tools to improve efficiency, insight, and client service. Marsh offers professional development opportunities, interesting work, supportive leaders, and a vibrant, inclusive culture. The role follows Marsh's hybrid work model: colleagues are expected to work in their local office or onsite with clients at least three days per week, and office-based teams identify at least one weekly anchor day for in-person collaboration.

Requirements

BA/BS degree in actuarial science, math, statistics, finance, economics, or a related field.
At least 5 years of experience in health and benefits consulting and/or actuarial work.
Demonstrated experience leading client engagements and delivering strategic and financial solutions for complex health care benefit plans.
Progress toward the ASA designation.
Strong client-facing experience and confidence advising senior stakeholders.
Strong financial acumen and analytical ability.
Proficiency in Microsoft Excel, Word, and PowerPoint.

Nice To Haves

Experience combining health and benefits consulting with actuarial leadership.
Strong understanding of employer health plan strategy, renewals, funding, and plan design.
Proven ability to lead large, complex projects and influence client decisions.
Excellent communication, strategic thinking, and relationship-building skills.
Ability to mentor others while maintaining high standards for client delivery.

Responsibilities

Lead complex client engagements, owning the scope, quality, timeliness, and budget of multiple deliverables across medical, pharmacy, dental, vision, life, and disability benefit plans.
Direct teams in researching, analyzing, and evaluating benefit programs, financial outcomes, and renewal strategies to develop innovative and practical recommendations.
Serve as the primary client advisor on strategic, financial, contractual, and actuarial matters, translating complex analysis into clear direction and decision support.
Oversee the development and review of cost projections, financial models, benchmarking analyses, RFP responses, and executive summary reports.
Lead renewal discussions, carrier negotiations, and vendor evaluations to help secure optimal health and welfare plan coverage and value.
Build and maintain strong client relationships at the senior stakeholder level, anticipating needs and identifying opportunities to deepen engagement and expand advisory support.
Partner with internal and external stakeholders to shape benefits design and renewal strategies that address complex client challenges.
Drive business development by identifying opportunities for growth, referrals, and broader client solutions.
Use AI and technology-enabled tools to improve efficiency, insight, and client service.
Be accountable for engagement success, including client satisfaction, strategic outcomes, and team performance.