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Marsh & McLennan Companies, Inc.

Marsh & McLennan Companies, Inc., a professional services company, provides advice and solutions in the areas of risk, strategy, and human capital. It operates in two segments, Risk and Insurance Services, and Consulting. The Risk and Insurance Services segment provides risk management and insurance broking, reinsurance broking, and insurance program management services for businesses, public entities, insurance companies, associations, professional services organizations, and private cli... Read More

Address      1166 Avenue of the Americas New York, NY 10036 United States
Website      www.mmc.com/
Holding      No Holding Details

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Employee Health & Benefits Actuarial Consultant

Mercer is the global leader for trusted Human Resources and related financial advice, products and services. In our work with clients, we make a positive impact on the world every day. We do this by enhancing the financial and retirement security, health, productivity and employment relationships of the global workforce. Mercer has more than 19,000 employees serving clients in over 180 cities and 40 countries and territories worldwide. If you thrive on challenge, are passionate about ideas, love solving problems and truly enjoy connecting with people, we encourage you to explore the hundreds of job opportunities available through Mercer. Our core strengths in consulting, outsourcing and investments place Mercer in a unique position to help our clients achieve the extraordinary - and extraordinary results require extraordinary people. Mercer is an operating unit of Marsh & McLennan Companies.

Marsh & McLennan Companies is a leading global professional services firm with roots dating back to 1871. We employ over 50,000 employees in more than 100 countries with annual revenue exceeding $11 billion. Marsh & McLennan Companies is the parent company of a number of the world's leading risk experts and specialty consultants, including: Marsh, our insurance broker and risk advisor; Guy Carpenter, our risk and reinsurance specialist; Mercer, our provider of HR and related financial advice and services; and Oliver Wyman, our management consultancy.

The Employee Health & Benefits (EH&B) Actuarial Consultant will be a client facing role and lead the accurate and timely data and financial analysis on various actuarial/financial projects for pricing of medical, dental, life and disability programs. A key part of this role is also to act as a project manager for actuarial projects as well as mentor more junior actuarial staff and oversee their basic actuarial work. To fulfill this role, the Actuary will:

·        Provide financial analysis for more complex and/or larger clients, including more in-depth analysis for complex situations that require additional research or discussion with Mercer subject matter experts. For less complex and involved work, will oversee the analysis of more junior staff

·        Price and evaluate consumerist plans (high deductible health plans with provisions to create greater consumer awareness) using Mercer's internal pricing model to compare designs; results are typically presented to client as part of a strategy or plan design discussion

·        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; key results are summarized and presented to client to help understand cost drivers and guide changes in plan design

·        Project retiree medical costs using the client's retiree cost and enrollment data for both pre-Medicare and post-Medicare; results are used by Mercer's Retirement Practice to develop retiree medical liabilities used by the client and their auditors for accounting purposes

·        Estimate the impact of Medicare part D legislation by using retiree prescription drug data and Mercer's Part D pricing model, and performing tests to determine whether a federal government subsidy is available to the client; results are included in reports to clients documenting the assumptions and results of the testing

·        Oversee the financial analysis of junior analysts, including: cost projections; analysis of vendor renewals, development of trend assumptions, plan design relative value analysis, employee contributions modeling, analyses of healthcare reform impact on client health plans and other analyses

·        Manage actuarial projects from start to finish including: manage the quality and timeliness of client deliverables; develop budgets and billing reports; act as a key client contact for financial work; prepare clear and concise client-friendly communications; present results to clients

·        Gain an expert level of 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, underwriting and actuarial skills, budget- and rate-setting

·        Mentor and train more junior staff on the above

·        BA/BS degree

·        Minimum seven years of health and benefits and relevant actuarial experience required with at least 2 years of consulting experience

·        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

·        ASA or FSA in the Society of Actuaries

Other Job Information

Vacancy type:

Full Time

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Contact Name:

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Job Duration:

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