The purpose of this position is to lead the accurate and timely data and financial analysis on various actuarial/financial projects for the Mercer Marketplace Retiree and Individual exchange solutions. The position will focus on financial analysis to help employers determine a solution for their pre-65 and Medicare eligible retirees. . 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.
Financial Analysis – This position provides financial analysis for more complex and/or larger clients and interfaces with insurer situations in the Marketplace Exchange, 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, this oversees the analysis of more junior staff. Additionally this position oversees the development and maintenance of financial tools and industry data needed to provide up-to-date analysis and guidance on market trends.
Key responsibilities include working independently on:
- Pricing and evaluation of individual and group insurance exchange plans (high deductible health plans with provisions to create greater consumer awareness) creating and developing a Mercer internal pricing model to compare designs and outcomes under various scenarios.; Results are typically presented to Mercer senior management and Finance as part of a strategy or risk mitigation activities.
- Analyzing Mercer marketplace Individual and Group insurance profit and loss drivers by reviewing data and looking for year-over-year trends or comparisons to external benchmarks or other products using data provided from insurers or Mercer Finance or raw data from external databases; key results are summarized and presented to Exchange Leader to help understand drivers and modify business plan.
- Projecting appropriate retiree medical exchange product options by reviewing the client’s retiree cost and enrollment data for both pre-Medicare and post-Medicare. Develop appropriate solution set for client situation from Mercer’s Individual Exchange suite of products from Transition Assist and Get Insured.
- Estimating 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; results are included in a report to the client documenting the assumptions and results of the testing. Compare the results above to what is available through Mercer Marketplace.
- Participate in RFP development and delivery for Transition Assist and Get Insured proposals and finalist meetings.
- Develop appropriate tools for retiree medical exchange and Get Insured work – develop Footprint analysis and cost comparison tools.
- Develop appropriate tools and models for Mercer Marketplace’s group insurance product portfolio. Educate colleagues as to use of the tools and perform client presentations.
The role typically interacts with other Mercer Marketplace team members including the Leaders of Marketing/Sales, RFP Marketplace Management and Implementations, Call center administration, and Financial planning resources. The colleague will be the subject matter expert with respect to the following functions::
- Client Cost projections
- Review of RFP financial offers by the Marketplace team
- Insurer pricing and products
- Strategies to mitigate employer cost
The position will likely supervise two or more actuarial analysts
Project Management & Consulting Skills –
- Manage actuarial projects from start to finish and deliver reports to management and actuarial leadership
- Manage the quality and timeliness of deliverables
- Develop budgets and financial forecast for the Group and Individual Insurance Exchange
- Act as the key contact for financial work insurers
- Prepare clear and concise colleague-friendly communications on how Marketplace products work and train sales/marketing staff
- Present results of studies and analyses to management
- Develop, maintain and manage relationships with insurers
- Develop financial tools for use in Mercer Marketplace
Products, Services & Tools –
- 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 Marketplace and core EH+B
- Vendor/carrier markets and products
- Underwriting and actuarial skills
- Budget-setting, rate-setting and evaluation.
Mentor and train more junior staff on the above.
- BA/BS degree
- Minimum ten years of H&B or relevant actuarial experience required
- 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
- Fellow of the Society of Actuaries or Associate, Society of Actuaries
Mercer delivers advice and technology-driven solutions that help organizations meet the health, wealth and career needs of a changing workforce. Mercer’s more than 22,000 employees are based in 43 countries and the firm operates in over 130 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With more than 60,000 colleagues and annual revenue over $13 billion, Marsh & McLennan helps clients navigate an increasingly dynamic and complex environment. Marsh & McLennan Companies is also the parent company of Marsh,which advises individual and commercial clients of all sizes on insurance broking and innovative risk management solutions; Guy Carpenter, which develops advanced risk, reinsurance and capital strategies that help clients grow profitably and pursue emerging opportunities; and Oliver Wyman, which serves as a critical strategic, economic and brand advisor to private sector and governmental clients. For more information, visit www.mercer.com. Follow Mercer on 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.
Marsh & McLennan Companies and its Affiliates are EOE Minority/Female/Disability/Vet/Sexual Orientation/Gender Identity employers.
US-MA-Boston, US-MA-Norwood, US-GA-Atlanta
are EOE Minority/Female/Disability/Vet/Sexual Orientation/Gender Identity employers.