Willis Towers Watson Health & Benefits Financial Consultant in Hunt Valley, Maryland

Health & Benefits Financial Consultant

Date Posted: February 27, 2018

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JOB DESCRIPTION

As a Health and Group Benefits Senior Analyst you will contribute to a wide variety of complex projects involving the design, financing, delivery, ongoing management and communication of the full spectrum of health and group benefit programs including medical, dental, life, disability, time off and flexible benefits. You will interface with vendors and key clients internally and externally, create client deliverables, and ensure quality standards are met.

The Role

  • Support financial aspects of benefit planning, including but not limited to, funding arrangements analysis, plan design strategies, and employee contribution modeling

  • Maintain annual renewal reports, monthly reports and quarterly reports, which includes providing monthly reporting of client and carrier information

  • Calculate and develop Incurred But Not Reported (“IBNR”) reserves, underwriting projections, rate development, actuarial plan impact, Pharmacy Benefit Management analysis, and claims repricing analysis

  • Support communication efforts to clients (stewardship meetings, etc.) relative to financial issues

  • Support Renewal/Marketing Process including but not limited to:o Pre-renewal analysis and gathering of pertinent underwriting information for account specific projectso Prepares exhibits and illustrations used to develop various financial strategies for employer groupso Prepare proposal data into Willis Towers Watson’s format for presentation to clients making recommendationso Maintains client specific models to assist in the economic analysis of market alternativeso Prepares the financial exhibits and commentary for client presentations, supports the new business and renewal quoting process for the team

  • Use Willis Towers Watson technology to monitor / analyze claims information and financial impact

  • Maintain relationships with client decision makers, e.g., VPs, CHRO, CEO, CFO

  • Maintain strong carrier relationships to enhance Willis Towers Watson’s position in the market place

  • Understand and articulate to clients the Willis Towers Watson Human Capital Benefits (HCB) Value Proposition and Human Capital Benefits (HCB) Products and Services in order to support new business

  • Understand clients’ needs and identify products and services to support needs

  • Comply with internal compliance standards and documentation protocol

  • Build strong relationships internally and collaborate effectively on cross-functional teams

  • Demonstrate natural ease and effectiveness when dealing with clients/colleagues at all levels

  • Work in a supportive, team oriented environment

  • Support the collaborative team environment by partnering with other Colleagues on workflow and client projects

  • Provide valued-added consulting expertise on large, sophisticated projects including health and welfare plan re-design, pricing, medical valuations, funding and employee contributions strategies, reserve calculations, benchmarking studies and negotiations, plan renewals and vendor analysis and management

  • Contribute to projects within the Specialty area including health management/wellness, disability/absence management, pharmacy and claims audits

  • Contribute to the development of new tools and approaches

  • Support client retention ratio at or above the targeted goal

  • Support the generation of new business by enhancing relationships with current clients and recommending new projects and solutions

  • Participate in prospecting opportunities with new clients as part of a broader team

  • Directly contribute to clients’ success through applying technical expertise

The Requirements

  • 3+ years’ experience dealing with the financials of group health and welfare plans, ideally gained in a group benefit consulting/brokerage firm or group health underwriting or actuarial function of an insurance company; additional experience with life/disability plans desired

  • Bachelor’s degree required

  • Life & Health license

  • Underwriting experience

  • Experience with various funding types (fully-insured, self-funded, minimum premium)

  • Intermediate knowledge of: (1) insurance products, (2) bid preparation and analysis,and (3) financial analysis/underwriting to specifically include the following:

  • HMO, PPO, and Indemnity forms of Health, Dental, and Vision plansConsumer-driven healthcare, wellness, disease management, and current trends

  • Regulatory environment of employee benefits plans, including intermediate knowledge of PPACA

  • Life (term, permanent, etc.), LTD, STD, and state-required disability plans

  • Proven experience successfully managing projects and producing quality deliverables on time and within budget

  • Flexibility and proven ability to diagnose and resolve issues; strong client service orientation

  • Strong written and verbal communication skills

  • Ability to ask the right questions and seek help where appropriate

  • Ability to respond to all communications effectively and in a timely manner

  • Demonstrated leadership qualities

  • Ability to work both independently and on client teams and enjoy a fast-paced environment

  • Sense of accountability; owning one’s work and taking pride in it

  • Self starter; interest in continually challenging oneself and willingness to step outside of one’s comfort zone

  • Interest and ability to think beyond the task at hand and understand how one’s work fits into the broader landscape

  • Strong analytical and integrative skills including ability to draw conclusions and identify trends from data in a logical, systematic way

  • Advanced working knowledge of Microsoft Word, PowerPoint and Excel; Microsoft certification a plus

  • Bachelors degree required

  • Pursuit of CEBS designation, or group health and welfare actuarial or underwriting training desired

The Company

Willis Towers Watson is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 40,000 employees serving more than 140 countries. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas – the dynamic formula that drives business performance. Together, we unlock potential. Learn more at willistowerswatson.com.

Willis Towers Watson is an equal opportunity employer

Willis Towers Watson is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to, among other things, race, color, religion, sex, sexual orientation, gender identity, national origin, age, status as a protected veteran, or disability.

Equal Employment Opportunity:Know your rights.

Unsolicitated Contact:Any unsolicited resumes/candidate profiles submitted through our web site or to personal e-mail accounts of employees of Willis Towers Watson are considered property of Willis Towers Watson and are not subject to payment of agency fees. In order to be an authorized Recruitment Agency/Search Firm for Willis Towers Watson, any such agency must have an existing formal written agreement signed by an authorized Willis Towers Watson recruiter and an active working relationship with the organization. Resumes must be submitted according to our candidate submission process, which includes being actively engaged on the particular search. Likewise, for our authorized Recruitment Agencies/Search Firms, if the candidate submission process is not followed, no agency fees will be paid by Willis Towers Watson. Willis Towers Watson is an equal opportunity employer.

Apply

Not ready to Apply? at https://willistowerswatson.avature.net/WTWTalentNetwork

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JOB SNAPSHOT

  • Location:Hunt Valley, MD, USPotomac, MD

  • Date Posted:February 27, 2018