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Marsh McLennan Agency · 1 day ago

Actuarial Analyst - Employee Health & Benefits

Sioux Falls, SD

Full-time

Hybrid

New Grad, Entry Level

Marsh McLennan Agency (MMA) is a leader in providing business insurance and employee health & benefits solutions. The Actuarial Analyst will conduct actuarial analysis and modeling, collaborate with clients to understand their risk management needs, and ensure regulatory compliance while providing valuable insights to clients and internal stakeholders.

Employee BenefitsHealth CareInsuranceRetirement

Growth Opportunities

Responsibilities

Analysis, including drill down, into the utilization and unit cost drivers of medical and pharmacy expenses; development of recommendations related to plan designs, contributions and types of care and providers warranting attention

Review and/or prepare annual benefit plan renewals for clients; interact effectively with insurance carrier underwriting and actuarial personnel to ensure clients are receiving fair and equitable ratings and premiums

Development of modeling tools and spreadsheets for use by the organization to help clients, prospective clients, and their employees to make better informed decisions on all benefit plans, including consumer directed health care such as health savings accounts and health reimbursement arrangements

Develop models to predict the pattern of IBNR reserves with greater accuracy and reduced variance

Effectively communicating actuarial concepts and findings to both technical and non-technical stakeholders. Presenting complex information in a clear and concise manner

Assess or provide tools to help assess the financial terms of carrier proposals on all types of employee benefit programs, including medical, pharmacy, dental and voluntary products

Working collaboratively with cross-functional teams delivers comprehensive solutions and achieves common goals

Staying updated on industry trends, advancements in actuarial science, and regulatory changes. Actively pursuing professional development opportunities and maintaining relevant certifications

Qualification

Actuarial analysisData analysisExcelLife & Health licensureCommunication skillsAnalytical abilityTeam collaborationProblem-solvingAttention to detail

Required

Bachelor's degree in mathematics, statistics, economics or a similar field

Current Life & Health licensure or ability to obtain within 90 days

Exceptional Analytical Ability, as demonstrated through course work and experience

Pro-actively form productive working relationships with other team members, decision makers, insurance carrier personnel

Highly motivated and strong work ethic with consistent initiative and follow through on projects and tasks to completion while meeting deadlines; ability to work independently toward objectives with a sense of urgency

Good communication, persuasion, writing, and editing abilities with a keen eye for detail; proofs work and makes changes as necessary

Superb computer skills, including Excel, Word, PowerPoint as well as data management and database applications. Ability to use the Internet for business information and communications

Identification and implementation of new processes as required to improve company efficiency and effectiveness

Preferred

Adaptable and able to change priorities and multi-task regularly to meet deadlines

Capable of maintaining the strictest confidentiality regarding client and company data and information

Benefits

Generous time off, including personal and volunteering

Tuition reimbursement and professional development opportunities

Hybrid work

Charitable contribution match programs

Stock purchase opportunities

Company

Marsh McLennan Agency

Glassdoor4.4

Marsh McLennan is an insurance company that provides business insurance, employee benefits, and private client insurance solutions. It is a sub-organization of Marsh & McLennan.

Founded in 2003