What are the responsibilities and job description for the Actuarial Consultant position at Aon?
Job Description
Job Title : Actuarial Consultant
Aon is in the business of better decisions
At Aon, we shape decisions for the better to protect and enrich the lives of people around the world.
As an organization, we are united through trust as one inclusive, diverse team, and we are passionate about helping our colleagues and clients succeed.
What the day will look like
Aon Consulting, Inc. seeks an Actuarial Consultant in Chicago, Illinois to conduct actuarial analysis for insurance services under limited supervision. Assist in strategy development and costing of scenarios related to strategy discussions. Assist in benchmarking discussions, including strategy evolution as a result of benchmarking data. Understand and project savings and costs related to plan design or provider network changes. Set and review healthcare budget rates for self-insured plans including the analysis of medical and prescription network changes. Perform supporting analysis for IBNP reserve development. Develop actuarial models to evaluate cost-saving scenarios for insurance plans. Assist in sales situations, representing the financial scope of work. Develop actuarial reports and correspondence. Seek and provide peer review for deliverables. Solicit credentialed actuarial review where appropriate. Maintain an up-to-date knowledge of group systems, products, and technology, and have a thorough understanding of how these relate to group insurance consulting. Perform employee contribution rate development and scenario analysis. Analyze insured plan renewals for appropriateness and carrier bid financial evaluations. Identify savings opportunities and financial modeling associated with insurance plan design and provider network changes. Calculate actuarial reserves. Local telecommuting available up to 3 days per week. Annual Salary : $92,000 - $153,400.
Job Location : 200 E. Randolph Street, Chicago, IL 60601
Skills and experience that will lead to success
Bachelors degree in Actuarial Science or a related field plus one year of actuarial analysis experience. Must have at least one year of experience in each of the following : 1. Setting and reviewing healthcare budget rates for self-insured plans including the analysis of medical and prescription network changes; 2. Performing supporting analysis for IBNP reserve development; 3. Developing actuarial models to evaluate cost-saving scenarios for insurance plans; 4. Performing employee contribution rate development and scenario analysis; 5. Identifying savings opportunities and financial modeling associated with insurance plan design and provider network changes; and 6. Calculating actuarial reserves.
How we support our colleagues
In addition to our comprehensive benefits package, we encourage a diverse workforce. Plus, our agile, inclusive environment allows you to manage your wellbeing and work / life balance, ensuring you can be your best self at Aon. Furthermore, all colleagues enjoy two Global Wellbeing Days each year, encouraging you to take time to focus on yourself. We offer a variety of working style solutions, but we also recognize that flexibility goes beyond just the place of work... and we are all for it. We call this Smart Working!
Our continuous learning culture inspires and equips you to learn, share and grow, helping you achieve your fullest potential. As a result, at Aon, you are more connected, more relevant, and more valued.
Aon values an innovative, diverse workplace where all colleagues feel empowered to be their authentic selves. Aon is proud to be an equal opportunity workplace.
Aon provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, creed, sex, sexual orientation, gender identity, national origin, age, disability, veteran, marital, domestic partner status, or other legally protected status. Aon is committed to a diverse workforce and is an affirmative action employer. People with criminal histories are encouraged to apply.
We provide individuals with disabilities reasonable accommodations to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment in accordance with applicable law. Please contact us to request an accommodation on ReasonableAdjustments@Aon.com
Salary range or hourly pay range for the position
The salary range for this position is $92,000 - $153,400 annually.
A summary of all the benefits offered for that position
Aon offers a comprehensive package of benefits for full-time and regular part-time colleagues, including, but not limited to : a 401(k) savings plan with employer contributions; an employee stock purchase plan; consideration for long-term incentive awards at Aons discretion; medical, dental and vision insurance, various types of leaves of absence, paid time off, including 12 paid holidays throughout the calendar year, 15 days of paid vacation per year, paid sick leave as provided under state and local paid sick leave laws, short-term disability and optional long-term disability, health savings account, health care and dependent care reimbursement accounts, employee and dependent life insurance and supplemental life and AD&D insurance; optional personal insurance policies, adoption assistance, tuition assistance, commuter benefits, and an employee assistance program that includes free counseling sessions. Eligibility for benefits is governed by the applicable plan documents and policies.
How to Apply
To apply, please send resume to aonresumes@aon.com and cite requisition number 00647, apply at jobs.aon.com, or click the apply button. This notice is subject to Aon Consulting, Inc.'s employee referral program.
2025-85831
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Salary : $92,000 - $153,400
