Sr Financial Analyst, Employee Benefits
About The Position
Lockton Dunning Benefits is seeking a Senior Financial Analyst to join the Health & Welfare Actuarial & Financial Analytics team. This position will support self-funded employer-sponsored health plans through advanced financial analysis, underwriting, budget development, and strategic consulting. The Senior Financial Analyst will serve as a key resource to consulting teams, providing insight into healthcare cost drivers, funding strategies, and financial risk management. The ideal candidate will possess strong technical and analytical skills, demonstrate sound judgment in evaluating complex healthcare data, and have experience independently developing and finalizing medical and pharmacy budget projections and underwriting analyses. This individual should be highly organized, client-focused, and comfortable working in a fast-paced, collaborative environment.
Requirements
- Bachelor's degree in Finance, Economics, Mathematics, Actuarial Science, Statistics, Business, or a related field.
- 2-3+ years of experience independently developing and finalizing medical and pharmacy budget projections and/or underwriting analyses for employer-sponsored health plans.
- Experience working with self-funded health plans and healthcare claims data.
- Strong understanding of healthcare funding arrangements, medical and pharmacy trend development, underwriting principles, and risk management concepts.
- Advanced proficiency in Excel, including financial modeling, data analysis, and reporting.
- Strong analytical and problem-solving abilities with exceptional attention to detail.
- Excellent communication and presentation skills with the ability to explain financial concepts to both technical and non-technical audiences.
- Strong organizational skills and ability to manage multiple priorities and deadlines.
- Proven ability to collaborate effectively across multidisciplinary teams.
- Legal right to work in the United States.
Nice To Haves
- Experience within health and welfare consulting, healthcare underwriting, actuarial consulting, insurance carrier underwriting, or employer-sponsored benefits.
- Experience with healthcare analytics, benchmarking platforms, and reporting tools.
- Knowledge of stop-loss underwriting, pharmacy benefit management, and employer healthcare strategy development.
Responsibilities
- Develop, review, and finalize medical, pharmacy, and total health plan budget projections for self-funded employer health plans.
- Independently perform underwriting analyses, renewal projections, rate setting, and funding recommendations.
- Analyze healthcare claims, utilization, and enrollment data to identify cost drivers, emerging trends, and opportunities for cost containment.
- Prepare detailed financial forecasts for plan renewals, strategy evaluations, vendor changes, and benefit modifications.
- Evaluate plan performance through analysis of claims experience, large claim activity, trend assumptions, network discounts, and pharmacy cost drivers.
- Develop and maintain complex financial models used for forecasting, pricing, budgeting, and strategic decision-making.
- Calculate and review funding rates, reserve positions, IBNRs, and other actuarial projections.
- Perform financial impact analyses related to network changes, plan design modifications, contribution strategies, and population health initiatives.
- Prepare client-ready reporting, presentations, and financial exhibits that clearly communicate findings and recommendations.
- Integrate and validate data from multiple sources to ensure accuracy and reliability of financial analyses.
- Partner with consulting, actuarial, pharmacy, clinical, and client service teams to develop recommendations and client strategies.
- Review fully insured renewal and marketing results, comparing alternatives and identifying opportunities for optimization.
- Serve as a subject matter expert on financial reporting, underwriting methodologies, and healthcare funding arrangements.
- Support client meetings by presenting financial analyses and explaining complex healthcare concepts in an understandable manner.
- Assist in developing and enhancing standard reporting templates, underwriting tools, and financial models.
- Utilize industry benchmarking data and external market intelligence to support strategic client recommendations.
- Stay informed of emerging healthcare trends, carrier products, pharmacy developments, and industry best practices.
- Mentor and provide guidance to Associate Financial Analysts and Financial Analysts.
- Participate in internal meetings, training initiatives, and continuous improvement projects.
- Other responsibilities as assigned.
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What This Job Offers
Job Type
Full-time
Career Level
Senior
