Health & Benefits Actuarial AnalystTitle: Health & Benefits Actuarial Analyst
Location: AB-Calgary
Mercer is the global leader for trusted Human Resources and related financial advice, products and services. In our work with clients, we make a positive impact on the world every day. We do this by enhancing the financial and retirement security, health, productivity and employment relationships of the global workforce. Mercer has more than 19,000 employees serving clients in over 180 cities and 40 countries and territories worldwide. If you thrive on challenge, are passionate about ideas, love solving problems and truly enjoy connecting with people, we encourage you to explore the hundreds of job opportunities available through Mercer. Our core strengths in consulting, outsourcing and investments place Mercer in a unique position to help our clients achieve the extraordinary - and extraordinary results require extraordinary people. Mercer is an operating unit of Marsh & McLennan Companies.
Marsh & McLennan Companies is a leading global professional services firm with roots dating back to 1871. We employ over 50,000 employees in more than 100 countries with annual revenue exceeding $11 billion. Marsh & McLennan Companies is the parent company of a number of the world's leading risk experts and specialty consultants, including: Marsh, our insurance broker and risk advisor; Guy Carpenter, our risk and reinsurance specialist; Mercer, our provider of HR and related financial advice and services; and Oliver Wyman, our management consultancy.
A Health & Benefits (H&B) Actuarial Analyst will provide accurate and timely data and financial analysis on various actuarial/financial projects for pricing of medical, dental, life and disability programs. This position also mentors more junior actuarial staff and oversees their basic actuarial work. To fulfill this role, the analyst will:
* Program, review and develop plan liabilities using actuarial principles and Mercer's proprietary valuation technology
* Determine annual accounting expense and disclosures, and create accounting reports that detail results for the client
* Price and evaluate different plan designs (e.g., high deductible health plans, plans with provisions to create greater consumer awareness) using Mercer's internal pricing model to compare designs; results are typically presented to client as part of a strategy or plan design discussion
* Analyze cost drivers by reviewing client's cost/utilization data, looking for year-over-year trends and/or comparisons to external benchmarks using data provided from a client's vendor reports or raw data from external databases; key results are summarized and presented to client to help understand cost drivers and help modify plan design
* Perform analyses for larger, more complex clients, including more in-depth analysis for complex situations that may require additional research or discussion with Mercer subject matter experts
* Oversee and review the financial analysis work done by a more junior analyst
* Perform basic cost projections, including projections of employee contributions taking into account the cost-sharing goals of the client
* Analyze vendor renewals by checking vendor's proposed rates for reasonableness and by analyzing claims and enrollment data, trend rates, administrative expenses and other charges
* Price medical and prescription drug plan designs by entering plan design information into Mercer's internal pricing model to develop the relative cost differences between plan designs, in order to compare the client's current plan to alternative designs
* Manage actuarial projects from start to finish
* Manage the quality and timeliness of client deliverables
* Develop budgets and billing reports
* Participate in client calls and meetings as appropriate
* Prepare clear and concise client-friendly communications
* Mentor and train more junior staff
* Gain an understanding of the more advanced aspects of the following, through online training, group sessions, or one-on-one training with others in a more senior role: Health and Benefits products, services and technical tools offered by Mercer; vendor/carrier markets; underwriting and actuarial skills; budget-setting, rate-setting and evaluation
* BA/BS/m degree
* Three years of group health and benefits or relevant actuarial experience required
* Strong analytical and mathematical skills
* Strong command of Microsoft Office (Excel, Word and PowerPoint)
* Excellent interpersonal skills; strong oral and written communication skills
* Ability to prioritize and handle multiple tasks concurrently in a demanding work environment
* Strong critical thinking and analytical problem-solving skills
* Ability to work independently and on a team
* Must have passed at least three Society of Actuaries (SOA) exams and show commitment to obtaining FSA/FCIA designations
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