Company: Mercer
Description: At Mercer, we make a difference in the lives of more than 110 million people every day by advancing their health, wealth, and careers. We are in the business of creating more secure and rewarding futures for our clients and their employees - whether we are designing affordable health plans, assuring income for retirement, or aligning workers with workforce needs.
Mercer Health & Benefits LLC is seeking candidates for the following position based in the San Francisco, CA office (a telecommuting/hybrid work schedule may be permitted within a commutable distance from the worksite, in accordance with company policies):
Health and Benefits Actuarial Associate 1 We will count on you to: Manage multiple and increasingly complex client projects that focus on employers' health benefits strategies, including financial projections, carrier selection, plan design optimization, employee contribution setting, IBNP valuations, benchmarking, well-being initiatives and renewal negotiations. Create models and solve problems while learning new consulting skills. Assist the consulting team in gathering, organizing, entering and analysing data using Excel spreadsheets to be used for various projects. Analyse the results along with varying levels of communication of results to the client. Manage portions of or entire projects, including reviewing the work of lower-level analysts. Present a portion of or entire project to a client on an as needed basis. Gather benchmarking, utilization or rate data from the vendors via a Request for Proposal (RFP). Interpret the meaning of the data and summarize the responses from the RFP in Excel or PowerPoint format for presentation to the client, on occasion present directly to the client. Responsible for cost projections and vendor renewal workups. Gather data from the client and vendors to populate Excel spreadsheets used for developing cost projections and evaluation of vendor renewal workups; results are used as part of client renewal and budget meetings and may present a part of these findings directly to the client. Track claims experience by gathering data from client and vendors and checking for reasonableness using independent judgment and communicate results to client. Analyse actual versus expected healthcare costs using an Excel template; results are typically sent to clients on a monthly or quarterly basis. What you need to have: Requires a Bachelor's degree, or foreign equivalent, in Actuarial Science, Mathematics, Statistics, Finance or a related field, and two (2) years of experience in the job offered, as a Health and Benefits Actuarial Technician/Specialist, or in a related occupation. Two (2) years of experience must include:
Building, maintaining and reviewing budget models, including Medical, Dental, Vision, Life and Disability and associated employee contribution structure using excel functions including vlookup, sumproduct, and pivot tables; Responsibility for financial projections, experience reporting (actual vs expected), and reserving (development method and IBNP) and review of analysts' work and providing feedback; Educating and developing analysts and interns in employer benefits, project management, communication, and excel formulas and tools; Utilizing subject matter expertise in U.S. employer-sponsored benefits including active and retiree medical, pharmacy, dental, vision, life, disability, pension, 401(k), time-off, and voluntary benefits; Utilizing subject matter expertise in health insurance plan underwriting, budget projection, claims experience reporting, premium-equivalent rate setting and incurred but not paid ("IBNP") reserving; Using Actuarial modeling for evaluating financial liabilities for benefits programs; Analysis of healthcare cost trends, demographics, medical and dental network discounts, employee contribution strategies, network adequacy, provider disruption, retiree medical valuations and stop loss; Preparing presentations for results from financial analyses to communicate with the client and manage client communications via email. Must have passed at least 2 Society of Actuaries (SOA) exams.
Mercer believes in building brighter futures by redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being. Mercer's more than 20,000 employees are based in 43 countries and the firm operates in over 130 countries. Mercer is a business of Marsh McLennan (NYSE: MMC), the world's leading professional services firm in the areas of risk, strategy and people, with more than 85,000 colleagues and annual revenue of over $23 billion. Through its market-leading businesses including Marsh, Guy Carpenter and Oliver Wyman, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment.
For more information, visit mercer.com. Follow Mercer 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 ******.
The applicable base salary range for this role is $100,000 - $147,000 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.
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