Health and Benefits Actuarial Associate
Location: Toronto, Ontario, Canada
Company: MercerJob ID R_036196-en Apply
Health Actuarial Associate
The Health Actuarial Associate will provide accurate and timely data and financial analysis on various actuarial, financial, and consulting projects for medical, dental, life and disability programs. To fulfill this role, the Actuarial Associate will:
- Lead actuarial valuations of retiree group benefit plan costs and post-employment benefit obligations
- Participate in the preparation of annual financial reporting of post-employment obligations in accordance with governing accounting standards (i.e. International Financial Reporting Standards, Chartered Professional Accountants’ Handbook, US Accounting Standards Codification)
- Price medical and dental 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
- Develop employee contribution scenarios for traditional and flexible benefit plans using claims experience and client cost-sharing goals
- Analyze vendor renewals by checking carrier or vendor's plan rates for reasonableness and by analyzing claims and enrollment data, trend rates, administrative expenses and other charges
- Analyze cost drivers by reviewing client's cost/utilization data and looking for year-over-year trends or comparisons to external benchmarks using data provided from client's vendor reports or raw data from external databases
- 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
- Participate in client calls and meetings to present and discuss various projects
- Perform technical reviews of any of the above when prepared by a junior member of a client team
- Provide coaching and guidance to junior members of client teams
- Develop project management and consulting skills including: managing the quality and timeliness of client deliverables, helping to develop budgets and billing reports, participating in client calls and meetings as appropriate and assisting with the preparation of clear and concise client-friendly communications
- Bachelor’s degree in Math, Statistics, Actuarial Science or related field
- 3-4 years of related experience
- Strong analytical and mathematical skills; strong command of Excel
- Excellent interpersonal skills; strong oral and written communication skills
- Ability to prioritize and handle multiple tasks in a demanding work environment
- Strong critical thinking and analytical problem-solving skills
- Ability to work independently and on a team
- Must have achieved or be progressing toward Associate of the Society of Actuaries (ASA) designation.
- Required to obtain and maintain appropriate licenses as required by provincial regulations and Mercer policies (LLQP)
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’re in the business of creating more secure and rewarding futures for our clients and their employees — whether we’re designing affordable health plans, assuring income for retirement or aligning workers with workforce needs. Using analysis and insights as catalysts for change, we anticipate and understand the individual impact of business decisions, now and in the future. We see people’s current and future needs through a lens of innovation, and our holistic view, specialized expertise, and deep analytical rigor underpin each and every idea and solution we offer. For more than 70 years, we’ve turned our insights into actions, enabling people around the globe to live, work, and retire well. We embrace a culture that celebrates and promotes the many backgrounds, heritages and perspectives of our colleagues and clients. At Mercer, we say we Make Tomorrow, Today. Visit www.mercer.com for more information and follow us on LinkedIn and Twitter @Mercer
Marsh & McLennan Companies offers competitive salaries and comprehensive benefits and programs including: health and welfare, tuition assistance, 401K, employee assistance program, domestic partnership benefits, career mobility, employee network groups, volunteer opportunities, and other programs. For more information about our company, please visit us at: http://www.mmc.com/. We embrace a culture that celebrates and promotes the many backgrounds, heritages and perspectives of our colleagues and clients. For more information, please visit us at: www.mmc.com/diversity.
Mercer LLC and its separately incorporated operating entities around the world are part of Marsh & McLennan Companies, a publicly held company (ticker symbol: MMC).
Marsh & McLennan Companies and its Affiliates are EOE Minority/Female/Disability/Vet/Sexual Orientation/Gender Identity employers.