What are the responsibilities and job description for the Senior Consultant - Actuary position at AON?
Job Title : Senior Consultant - Actuary
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 a Senior Consultant - Actuary reporting to headquarters in Chicago, Illinois to conduct actuarial analysis for insurance services under limited supervision. Develop Incurred But Not Paid (IBNP) reports. Project future medical, pharmacy, dental, and vision insurance costs based on historical claims and exposure data. Develop premium equivalent rates (budget rates) for self-insured customers. Perform benefit cost analysis and benefit harmonization strategy for mergers and acquisitions. Clean, analyze, and summarize data sets containing claim and enrollment information. Create employee contribution models. Ensure compliance with ACA and federal and state regulations on company-sponsored health plans, including minimum value testing, affordability testing, and Medicare Part D testing. Identify relevant cost measures and savings opportunities. Quantify the financial impact (cost / savings) of insurance programs, including weight loss and disease management programs. Perform stop loss and captive modeling to project financial results based on different levels of reinsurance and risk appetite. Calculate Actuarial Values (AVs) of health plans and the impact that plan design changes will have on the cost of the plan. Create experience monitoring reports (EMRs) to track monthly claim experience and compare actual cost to projected costs. Provide expertise for the financial aspect of RFPs (bids / proposals), including calculating the financial impact of changing carriers, evaluating provider discounts by area, and estimating provider disruption. Perform insurance plan design and cost benchmarking analyses. Create presentation decks for meetings and present results. May telecommute up to 5 days a week from anywhere in the Midwest. Annual salary : $113,714 - $182,300.
Job Location : 200 E. Randolph Street, Chicago, IL 60601
Skills and experience that will lead to success
Bachelor's degree in Actuarial Science or a related field plus three years of actuarial analysis experience. Must have at least three years of experience in each of the following : 1. Developing Incurred But Not Paid (IBNP) reports; 2. Cleaning, analyzing, and summarizing data sets containing claim and enrollment information; 3. Creating employee contribution models; 4. Performing stop loss and captive modeling to project financial results based on different levels of reinsurance and risk appetite; 5. Calculating Actuarial Values (AVs) of health plans and the impact that plan design changes will have on the cost of the plan; and 6. Performing insurance plan design and cost benchmarking analyses.
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 $113,714 - $182,300 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 Aon's 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 00576, apply at jobs.aon.com, or click the apply button. This notice is subject to Aon Consulting, Inc.'s employee referral program.
2025-85280
Requisition # : 85280
5ah5d54a
Salary : $113,714 - $182,300
