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Position: H&B Actuarial Consultant
Institution: Marsh & McLennan Companies, Inc.
Location: Richmond, Virginia, United States
   
Text: The Sr. H&B Actuarial Analyst will provide accurate and timely data and financial analysis on various actuarial/financial projects for pricing of medical, dental, life and disability programs. To fulfill this role, the Actuary will: Perform basic cost projections by entering the client's cost and enrollment data into an Excel spreadsheet and projecting costs for the next plan year Analyze vendor renewals by checking carrier or vendor's plan rates for reasonableness and by analyzing claims and enrollment data, trend rates, administrative expenses and other charges Price medical and prescription drug plan designs by entering plan design information into Mercer's internal pricing model to develop the relative cost differences between plan designs, in order to compare the client's current plan to alternative designs Develop employee contributions scenarios by entering current employee medical contribution data into an Excel spreadsheet and project contributions to the next plan year, taking into account the cost-sharing goals of the client Gain an understanding of basic project management and consulting skills such to include: managing the quality and timeliness of client deliverables, helping to develop budgets and billing reports, participating in client calls and meetings as appropriate and assisting with the preparation of clear and concise client-friendly communications Gain an understanding of the following, through online training, group sessions, or one-on-one training with others in a more senior role: Health and Benefits products, services and technical tools offered by Mercer, vendor/carrier markets, basic underwriting and actuarial skills, budget-setting, rate-setting and evaluation The Sr. H&B Acturial Analyst may: Perform pricing and evaluation of consumerism plans using Mercer's internal pricing model to compare designs where consumers have a greater ownership in costs Analyze cost drivers by reviewing client's cost/utilization data and looking for year-over-year trends or comparisons to external benchmarks using data provided from client's vendor reports or raw data from external databases Project retiree medical costs by entering the client's retiree cost and enrollment data for both pre-Medicare and post-Medicare Estimate the impact of Medicare part D legislation by entering retiree prescription drug data into Mercer's Part D pricing model and performing tests to determine whether a federal government subsidy is available to the client Perform analyses for larger, more complex clients, including more in-depth analysis for complex situations that may require additional research or discussion with Mercer subject matter experts Gather necessary data from the vendor or client; review to ensure it is complete, accurate and reasonable; and prepare data in a particular template or format for use in basic or advanced financial analyses or valuations. ',' The Sr. H&B Actuarial Analyst will provide accurate and timely data and financial analysis on various actuarial/financial projects for pricing of medical, dental, life and disability programs. To fulfill this role, the Actuary will: Perform basic cost projections by entering the client's cost and enrollment data into an Excel spreadsheet and projecting costs for the next plan year Analyze vendor renewals by checking carrier or vendor's plan rates for reasonableness and by analyzing claims and enrollment data, trend rates, administrative expenses and other charges Price medical and prescription drug plan designs by entering plan design information into Mercer's internal pricing model to develop the relative cost differences between plan designs, in order to compare the client's current plan to alternative designs Develop employee contributions scenarios by entering current employee medical contribution data into an Excel spreadsheet and project contributions to the next plan year, taking into account the cost-sharing goals of the client Gain an understanding of basic project management and consulting skills such to include: managing the quality and timeliness of client deliverables, helping to develop budgets and billing reports, participating in client calls and meetings as appropriate and assisting with the preparation of clear and concise client-friendly communications Gain an understanding of the following, through online training, group sessions, or one-on-one training with others in a more senior role: Health and Benefits products, services and technical tools offered by Mercer, vendor/carrier markets, basic underwriting and actuarial skills, budget-setting, rate-setting and evaluation The Sr. H&B Acturial Analyst may: Perform pricing and evaluation of consumerism plans using Mercer's internal pricing model to compare designs where consumers have a greater ownership in costs Analyze cost drivers by reviewing client's cost/utilization data and looking for year-over-year trends or comparisons to external benchmarks using data provided from client's vendor reports or raw data from external databases Project retiree medical costs by entering the client's retiree cost and enrollment data for both pre-Medicare and post-Medicare Estimate the impact of Medicare part D legislation by entering retiree prescription drug data into Mercer's Part D pricing model and performing tests to determine whether a federal government subsidy is available to the client Perform analyses for larger, more complex clients, including more in-depth analysis for complex situations that may require additional research or discussion with Mercer subject matter experts Gather necessary data from the vendor or client; review to ensure it is complete, accurate and reasonable; and prepare data in a particular template or format for use in basic or advanced financial analyses or valuations. ',' BA/BS degree Strong analytical and mathematical skills; strong command of Excel Excellent interpersonal skills; strong oral and written communication skills Ability to prioritize and handle multiple tasks in a demanding work environment Strong critical thinking and analytical problem-solving skills Ability to work independently and on a team Must have passed at least one preliminary Society of Actuaries (SOA) exam or a Valuation of Educational Experience (VEE) component, and plan to continue taking exams At Mercer, we make a difference in the lives of more than 110 million people every day by advancing their health, wealth, and careers. We’re in the business of creating more secure and rewarding futures for our clients and their employees — whether we’re designing affordable health plans, assuring income for retirement or aligning workers with workforce needs. Using analysis and insights as catalysts for change, we anticipate and understand the individual impact of business decisions, now and in the future. We see people’s current and future needs through a lens of innovation, and our holistic view, specialized expertise, and deep analytical rigor underpin each and every idea and solution we offer. For more than 70 years, we’ve turned our insights into actions, enabling people around the globe to live, work, and retire well. We embrace a culture that celebrates and promotes the many backgrounds, heritages and perspectives of our colleagues and clients. At Mercer, we say we Make Tomorrow, Today. Visit www.mercer.com for more information and follow us on LinkedIn and Twitter @Mercer. Mercer LLC and its separately incorporated operating entities around the world are part of Marsh & McLennan Companies, a publicly held company (ticker symbol: MMC). Marsh & McLennan Companies offers competitive salaries and comprehensive benefits. For more information about our company, please visit us at: http://www.mmc.com/. We embrace a culture that celebrates and promotes the many backgrounds, heritages and perspectives of our colleagues and clients. For more information, please visit us at: www.mmc.com/diversity . US ONLY: Marsh & McLennan Companies and its Affiliates are EOE Minority/Female/Disability/Vet/Sexual Orientation/Gender Identity employers. ',' BA/BS degree Strong analytical and mathematical skills; strong command of Excel Excellent interpersonal skills; strong oral and written communication skills Ability to prioritize and handle multiple tasks in a demanding work environment Strong critical thinking and analytical problem-solving skills Ability to work independently and on a team Must have passed at least one preliminary Society of Actuaries (SOA) exam or a Valuation of Educational Experience (VEE) component, and plan to continue taking exams At Mercer, we make a difference in the lives of more than 110 million people every day by advancing their health, wealth, and careers. We’re in the business of creating more secure and rewarding futures for our clients and their employees — whether we’re designing affordable health plans, assuring income for retirement or aligning workers with workforce needs. Using analysis and insights as catalysts for change, we anticipate and understand the individual impact of business decisions, now and in the future. We see people’s current and future needs through a lens of innovation, and our holistic view, specialized expertise, and deep analytical rigor underpin each and every idea and solution we offer. For more than 70 years, we’ve turned our insights into actions, enabling people around the globe to live, work, and retire well. We embrace a culture that celebrates and promotes the many backgrounds, heritages and perspectives of our colleagues and clients. At Mercer, we say we Make Tomorrow, Today. Visit www.mercer.com for more information and follow us on LinkedIn and Twitter @Mercer. Mercer LLC and its separately incorporated operating entities around the world are part of Marsh & McLennan Companies, a publicly held company (ticker symbol: MMC). Marsh & McLennan Companies offers competitive salaries and comprehensive benefits. For more information about our company, please visit us at: http://www.mmc.com/. We embrace a culture that celebrates and promotes the many backgrounds, heritages and perspectives of our colleagues and clients. For more information, please visit us at: www.mmc.com/diversity . US ONLY: Marsh & McLennan Companies and its Affiliates are EOE Minority/Female/Disability/Vet/Sexual Orientation/Gender Identity employers. ','Actuarial','Actuarial','US-VA-Richmond','US-VA-Richmond','','','','','','','','','are EOE Minority/Female/Disability/Vet/Sexual Orientation/Gender Identity employers.','false','1306947','1306947','true','1306947','false','Submission for the position: H&B Actuarial Consultant - (Job Number: RIC0009E)','false','1306947','false','true','https://mmc.taleo.net/careersection/jobdetail.ftl?job=RIC0009E〈=en','H&B Actuarial Consultant','true']);
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