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Actuarial Consultant - Marsh & McLennan Agency - Sioux Falls, SD at Marsh & McLennan Companies in Sioux Falls, South Dakota

Posted in Other 30+ days ago.

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Job Description:

Actuarial Consultant

Why choose Marsh & McLennan Agency (MMA)?

Make a career. Make a difference. When you work at MMA, you'll experience real opportunities to help people and businesses become more safe, secure, and successful. With MMA, you can create a career that matters.

Interested? Marsh & McLennan Agency (MMA) located in Sioux Falls, SD may be the place for you. As an MMA colleague, you'll get personal and professional development, a driven and entrepreneurial team-oriented environment, and leaders at all levels who are committed to maintaining high levels of colleague engagement. Discover how much is possible as you grow or advance your career.

Job Summary: The Actuarial Consultant will play a lead role in all aspects of analysis and modeling of clients' medical and pharmacy costs and their drivers. He/she will also be responsible for analytical tool development, proving analytical support to others in the organization, and working with our team to develop strategic approaches for our clients based on clinical and actuarial data.

Essential Functions:
  • 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.
  • Claim projections and trend analysis for larger clients; tracking of claims and updating forecasts; comparison of funding mechanisms.
  • 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.
  • Assist with development and integration of data analytics with disability, life and other benefits as requested.
  • Act as an analytical resource for team members on a daily basis.
  • Read, practice, and live the Code of Conduct for the agency. Be a participant in maintaining a strong work environment and culture for all team members.
  • All other duties as assigned.

Desired Qualifications: Exceptional Analytical Ability, as demonstrated though course work and experience. Successful completion of at least one actuarial exam is recommended. Pro-actively form productive working relationships with other team members, decision makers, insurance carrier personnel. Energetic and self-directed with a high degree of commitment; 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. Adaptable and able to change priorities and multi-task regularly to meet deadlines. Identification and implementation of new processes as required to improve company efficiency and effectiveness. Capable of maintaining the strictest confidentiality regarding client and company data and information.

Education Requirements: Bachelor's degree in mathematics, statistics, economics or a similar field. License requested within 6 months of hire.

Marsh & McLennan Agency (MMA) provides colleagues the freedom to make a career and difference. We encourage you to explore your curiosity and creativity. We gain new insight from diverse thinking, and take risks on new ideas. We embrace a culture that celebrates and promotes the many backgrounds, heritages and perspectives of our colleagues and clients. We are always seeking those with ethics, talent, and ambition who are interested in joining our client-focused teams. More than just insurance brokers, we believe that a business culture that supports a healthy, safe work environment does so by offering the right benefits, programs, policies and opportunities to keep employees engaged and productive including: health and welfare, tuition assistance, 401K, employee assistance program, volunteer opportunities, and other programs.

You can apply your talent in bold ways that make a difference - at MMA. For more information about our company, please visit us at: