Mercer US Inc. is seeking candidates for the following position based in the San Francisco, California office:
Health & Benefits Actuarial Consultant
We will count on you to:
Responsible for analysis of internal financial information and external economic conditions and their impact on business operations of employers from a variety of industries, including high tech, financial, and professional services companies. Perform financial modeling to measure and forecast potential impacts of financial transactions and corporate development activities. Perform financial analysis on actuarial and financial engagements with regards to medical, dental, life and disability programs. Price and evaluate consumerism plans (high deductible health plans) and summarize findings and recommendations. Analyze health plan data to determine cost drivers and project annual trends. Perform cost projections for the upcoming plan year. Review external benchmark comparison for benefit programs. Review and evaluate vendor renewals including claims, enrollment data, trend rates, administrative expenses and other charges. Perform basic project management, including: managing the quality and timeliness of client deliverables, developing budget reports, participating in client discussions as well as preparation of client-friendly communications. Oversee and review financial analysis work of junior analysts. Review benefit plan compliance requirements.
What you need to have:
Must have a Bachelor’s degree or foreign equivalent in Economics, Mathematics, Actuarial Science, or a related field plus three (3) years of experience in the job offered, as an Actuarial Analyst, Pension Analyst or a related position. Must have three (3) years of experience in the actuarial industry. Must have three (3) years of experience with navigating systems that administer benefit programs; External client management including data requests, consulting, ad-hoc support and project management; Determining appropriate assumptions and methodology and performing actuarial modeling of financial liabilities for employee benefits programs, including underwriting, pricing, and reserve valuations; Health plan underwriting, budget projection, claim experience reporting, and premium-equivalent rate setting; and demographic analysis of benefit plan population and its cost implications. Must have one (1) year of experience with U.S. employer-sponsored benefits including, active and retiree medical, pharmacy, dental, vision, life, disability, time-off, and voluntary benefits; Incurred but not paid (IBNP) reserving; Employee contribution strategies for benefit plans, providing clients with insights on various contribution strategies that can meet their business needs; Healthcare cost trend analysis to provide clients with information on year over year healthcare trends; Medical and dental network discount analysis, network adequacy analysis, and provider disruption analysis; Designing and pricing of benefit plans designs; Stop loss analysis; and defined-contribution health plan designs including Health Savings Account (HSA), Health Reimbursement Arrangement (HRA), and Flexible Spending Account (FSA). Must have passed two (2) or more actuarial 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 25,000 employees are based in 44 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 76,000 colleagues and annual revenue of $17 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 https://www.me.mercer.com/. Follow Mercer on Twitter @Mercer.