What are the responsibilities and job description for the Health Actuary - Associate I position at Marsh & McLennan Companies?
Company : Mercer
Description :
Mercer Health & Benefits, LLC is seeking candidates for the following position based in the Denver, CO office (A telecommuting / hybrid work schedule may be permitted within a commutable distance from the worksite, in accordance with company policies.) :
Health Actuary - Associate I
We will count on you to :
Manage client projects that focus on employers' health benefits strategies, including financial projections, carrier selection, plan design optimization, employee contribution setting, incurred but not paid (IBNP) valuations, benchmarking, well-being initiatives and renewal negotiations. Create deliverables and provide direction to analysts and associates, while serving as one of the primary financial client contacts. Present deliverables to clients in partnership with senior members of the client teams. Develop underwriting and actuarial skills and work on health care plan design, cost factors, and the renewal process as well as industry products, services, and tools, including Mercer Health products, the vendor / insurance carrier market, and budget setting, rate setting, and evaluation. Develop customized pricing and valuation models. Price medical, prescription drug, dental and vision plan designs using proprietary Mercer tools. Develop employee contribution strategies to meet employer cost objectives. Analyze vendor renewals and plan experience and estimate future plan costs.
What you need to have :
Must have a Bachelor's degree or foreign equivalent in Actuarial Science, Mathematics, or a related field, plus five (5) years of progressive, post-baccalaureate experience in the job offered, as an Actuarial Consultant, or in a related occupation. Five (5) years of experience must include : Applying actuarial expertise and general analytical skills to develop customized pricing and valuation models; Managing client projects that focus on employers' health or pension benefits strategies, including financial projections, carrier selection, plan design optimization liability valuations, benchmarking, plan initiatives, and renewal negotiations; Presenting deliverables to clients regarding financial analyses on various actuarial projects, and performing strategy development for benefits programs; Leveraging underwriting and actuarial skills to work on plan design, cost factors, and projections; Pricing designs by using claim or benefits projection, experience reporting, experience volatility, and modeling tools; Developing financing strategies in order to meet employer cost objectives and analyzing plan experience in order to estimate future plan costs; Using Excel models created by others which are complex in nature and self-creating other Excel models that provide financial analysis that does not fit within a standard model. Must possess Associate or Fellow of the Society of Actuaries designation.
The applicable base salary range for this role is $152,339 - $169,000 per year.
The base pay offered will be determined on factors such as experience, skills, training, location, certifications, and education. Decisions will be determined on a case-by-case basis. In addition to the base salary, this position may be eligible for performance-based incentives.
We are excited to offer a competitive total rewards package which includes health and welfare benefits, tuition assistance, 401K savings and other retirement programs as well as employee assistance programs.
LI-DNI
Mercer, a business of Marsh McLennan (NYSE : MMC), is a global leader in helping clients realize their investment objectives, shape the future of work and enhance health and retirement outcomes for their people. Marsh McLennan is a global leader in risk, strategy and people, advising clients in 130 countries across four businesses : Marsh, Guy Carpenter, Mercer and Oliver Wyman. With annual revenue of $23 billion and more than 85,000 colleagues, Marsh McLennan helps build the confidence to thrive through the power of perspective. For more information, visit mercer.com, or follow on LinkedIn and X.
Marsh McLennan is committed to embracing a diverse, inclusive and flexible work environment. We aim to attract and retain the best people and embrace diversity of age background, disability, ethnic origin, family duties, gender orientation or expression, marital status, nationality, parental status, personal or social status, political affiliation, race, religion and beliefs, sex / gender, sexual orientation or expression, skin color, veteran status (including protected veterans), or any other characteristic protected by applicable law. If you have a need that requires accommodation, please let us know by contacting reasonableaccommodations@mmc.com.
Salary : $152,339 - $169,000
