What are the responsibilities and job description for the Employee Benefits Associate Analyst II position at USI Holdings Corporation?
General Description: Analyze information and create financial deliverables for current and prospective smaller fully insured clients with less complex benefit programs. Includes financial and contractual analysis, claims utilization analysis and modeling, renewal projection, and premium rate analysis and modeling. Meet service standards and Best Practices developed by USI. **This position offers a hybrid schedule. Employee must be willing and able to work in our Hunt Valley office as needed (typically 3 to 5 days per month).**
Responsibilities:
- Responsible for financial analytics for clients that are primarily fully insured. Typical client size is 100 to 250 lives.
- Set priorities and manage analytical workflow of a partial book of business. Ensure efficient, timely, and accurate creation of deliverables and other responsibilities.
- Prepare standard analyses utilizing USI templates with minimal customization. Act in accordance with client service calendar financial meetings (i.e., post renewal, mid-year, pre-renewal, renewal). Includes but not limited to:
o Market review analysis.
o Renewal rate and funding projections and modeling with guidance as needed.
o Analysis of claims utilization with guidance as needed.
o Rate and Contribution analysis with guidance as needed.
o Benchmarking with guidance as needed.
- Utilize standard analytical tools, checklists, and templates to develop alternative strategies, plan modeling, and cost reduction opportunities.
- Perform technical analysis of group insurance contracts and financial arrangements.
- Serve as primary contact with insurance carriers for marketing new business quotes and renewals. Includes requesting quotes, evaluating, spreading options, and conducting fact-based negotiation of rates and benefit features.
- Develop and maintain excellent carrier relationships.
- Review for understanding of carrier renewal rating illustrations with guidance as needed.
- Continuously increase working knowledge of analyzing experience utilization data for financial performance conclusions.
- Write client facing Executive Summaries as necessary. Provide observations and findings under the guidance of experienced team members and/or Manager.
- Prepare carrier and client written correspondence. Includes carrier renewal confirmation letters and client renewal letters.
- Participate in the peer review process, primarily as the reviewed party. May also act as a reviewer. Receive assistance and guidance from team mentors.
- Keep current on industry and new product information, legislation, coverage, and technology.
- Active engagement and participation in trainings relative to the USI Career Track Program with emphasis on gaining knowledge necessary to perform Benefit Analyst role.
- Commitment to continued Career Track Program trainings (20%) throughout the remainder of the program.
Knowledge, Skills and Abilities:
- Successful completion of year one in the Employee Benefits Analyst Career Track Program.
- Bachelor’s degree required.
- Must hold a state Health, Life & Disability insurance license.
- Ability to work in a fast-paced team environment with some oversight.
- Set priorities and manage workflow to ensure efficient, timely, and accurate deliverables.
- Strong written, oral, and interpersonal communication skills.
- Strong working knowledge of Microsoft Office products, including Excel and Word. Includes ability to create, format and evaluate formulas within Excel templates.
- Detail oriented with strong problem solving and critical thinking skills.
- Ability to carry out complex tasks with many concrete and abstract variables.
- Resourceful, eager to learn new concepts, and further professional development.
- Open to feedback and coaching.
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Why USI?
With more than $2.7 billion in revenue and over 10,000 associates across approximately 200 offices nationwide, USI is one of the largest insurance brokerage and consulting firms in the world. At USI, we have created one of the most dynamic personal and professional development cultures in the industry. We invest heavily in our associates, and we take pride in celebrating their growth and success through our one-of-a-kind employee reward and recognition programs.
Unrivaled Resources and Support
What truly distinguishes USI as a premier insurance brokerage and consulting firm is the USI ONE Advantage®, a game-changing value proposition that delivers to clients a robust set of risk management and benefit solutions with bottom-line financial impact. USI ONE® represents Omni, Network, Enterprise—the three key elements that set USI apart from the competition. Through USI ONE, we develop strategic, timely, and effective risk management and benefit programs in terms that are easy to understand, and we demonstrate how the solutions can have a positive economic impact.
Industry-Leading Programs, Rewards, and Recognition
In addition to competitive pay, incentives, and benefits, USI recognizes associates through our Summit Awards program, rewarding excellence in those who build our brand each day. USI offers employee programs that recognize outstanding achievement and help our associates lead healthy, productive lives. We turn care into action with our award-winning wellness program, college scholarships for associates' children, and financial help in times of need.
Deep Community Engagement
We are committed to giving back to our local communities and supporting a culture of environmental sustainability. From sharing our time, talent, and resources to support local non-profit organizations, animal shelters, and environmental beautification and restoration projects – to partnering with eco-conscious vendors and taking steps to reduce our own environmental footprint – we’re working together as ONE to build a better future.
Committed to a Diverse, Equitable, and Inclusive Workplace
Our award-winning I’m With U diversity, equity, and inclusion program educates our associates to help them better understand and serve our clients, prospects, fellow team members, and local communities through curated education and training resources, employee support programs, and community outreach initiatives to build a more diverse, equitable, and inclusive culture.
Nationally Recognized as a Top Insurance Employer
- Recognized as one of Insurance Business America’s Top Insurance Employers for the seventh consecutive year (2018-2024).
- Named to Business Insurance’s annual list of the Best Places to Work in Insurance five years in a row (2020-2024).
- Named to Fortune’s 2024 Best Workplaces in Financial Services & Insurance list.
- Honored by Glassdoor as a Best-Led Company in the U.S. in 2024.
- Recognized by Newsweek as one of America’s Greatest Workplaces for Diversity in 2024
Visit our Awards and Accolades page for a complete list of our latest industry awards and recognitions!
USI is committed to providing a full-suite of competitive benefits for our growing population and its diverse needs. We offer a wide range of health, welfare and financial benefits including medical, wellness, dental and vision, 401(k), flexible spending and health savings accounts, short and long-term disability, life insurance and other unique employer-sponsored and voluntary programs. USI also offers a generous paid time off policy, paid family leave benefit as well as paid holiday time.
$55,000 - $65,000
Job ID:
29637
Salary : $55,000 - $65,000
