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Employee Benefits Actuarial Analyst

Location:

NY - New York

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General Description:

This position is responsible for analyzing complex datasets and creating financial modeling for current clients more complex benefit programs. Financial deliverables include financial and contractual analysis, claims utilization analysis and modeling, renewal projection and premium rate analysis and modeling.  While regional, this position has a dotted line to USI’s National Actuarial and Underwriting team and is designed to support an early career aspiring ASA candidate. Required to perform essential functions and meet service standards and Best Practices developed by USI.

Responsibilities:

  • Set priorities and manage analytical work flow to ensure efficient, timely and accurate creation of deliverables and other responsibilities.
  • Analyses may include but are not limited to:
    • Market review analysis
    • Renewal rate and funding projections and modeling
    • Analysis of claims utilization
    • Rate and Contribution analysis
    • Benchmarking
    • Financial funding analysis; e.g. fully insured versus self funded
    • IBNR and lag analyses
  • Primary reviewer of IBNR analyses for the region, with responsibilities for coordinating review and sign off by the National Acutuarial Team when needed
  • Primary reviewer of actuarial value assumptions for the region, with responsibilities for coordinating with the National Acutuarial Team when needed for more complex projects
  • Responsible for training the regional analytics team on new tools rolled out by the National Actuarial Team.
  • Perform technical analysis of group insurance contracts and financial arrangements.
  • Serve as secondary contact on select cases with insurance carriers for negotiating and marketing coverage for new business quotes and renewals, including requesting quotes, evaluating & spreadsheeting options, negotiating rates and benefit features and preparing renewal or new plan options with executive summary.
  • Develop and maintain excellent external (client and carrier) as well as internal relationships.
  • Independently analyze experience utilization data for financial and plan usage conclusions. Independently identify and articulate trends and relationship of experience to renewal rating.
  • Independently write client facing Executive Summaries that provide observations, conclusions, recommendations, and next steps. With guidance, articulate USI strategic objectives.
  • Prepare carrier and client written correspondence as required.
  • party external tools such as USI 3D, USI Clear Options Rx, and actuarial tools.
  • Participate in peer review process as a participant and a reviewer.
  • Occasionally participate in new Analyst on-boarding training.
  • Other miscellaneous duties as assigned.
    

Knowledge, Skills and Abilities:

  • Ability to work in a fast-paced environment with minimal instruction and a high degree of accuracy and attention to detail.
  • Ability to manage and negotiate multiple priorities and deadlines.
  • Must be proficient in Excel, Word, and other MS Office products. Proficient in internal USI analytic systems and carrier online reporting tools.
  • Keep informed regarding industry information, new product information, legislation, coverage, and technology to continuously improve knowledge and performance.
  • Interact with others effectively by utilizing good communication skills, cooperating purposefully, and providing information and guidance, as needed, to achieve the business goals of the company.
  • Strong written, oral, and interpersonal communication skills.
  • College degree required.
  • Must hold state Life & Disability insurance license or willing to obtain one within an agreed upon timeframe.
   

Physical Demands:

Work is performed in a climate controlled office environment with minimal noise and limited to no exposure to chemicals or toxins.  Employees operate office equipment including; telephone - headset, computer, computer monitors, keyboard, mouse, copier, scanner and mail machine.  Physical tasks of job include; walking, sitting, standing, and bending.

Analysis of Physical Demands:

·       Constantly (over 66% of time) work performed requires employees to use repetitive hand motions such as typing, using a keyboard, and sitting at a desk.

·       Frequently (34%-66% of time) work performed requires employees to handle and grasp things, walk on normal surfaces, stand and bend.

·       Occasionally (1%-33% of time) work performed requires employees to drive to client appointments, have repetitive foot movements, walk on uneven or slippery surfaces to and from work and occasionally reach outward to grab things and bend.

·       Rarely  (< than 1 hour per week) work performed  requires Lifting/Carrying  items that range from 10-50lbs, pushing/pulling  items that range from 10-50lbs,  twisting/ turning including reaching over shoulder or above head , kneeling or squatting.


Job ID:

21864

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Notice to Recruiters and Agencies regarding unsolicited resumes or candidate submissions without prior express written approval.
Resumes submitted or candidates referred to USI Insurance Services by any external recruiter or recruitment agency by any means (including but not limited to via Internet, e-mail, fax, U.S. mail and/or verbal communications) without a properly executed written contract for a specified position by an authorized member of the Talent Acquisition team become the property of USI Insurance Services. The Company will not be responsible for, or owe any fees associated with, referrals of those candidates and/or for submission of any information, including resumes, associated with individuals.

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