Health and Benefits Analyst (4648)
Health and Benefits Analyst
As an analyst in the H&B business, you will work with a broad range of clients and industries in a stimulating environment, participating as an integral member of client teams to provide accurate and timely data, financial analysis, and documentation related to life, disability, extended health, and dental programs. You will support the lead consultant in managing projects, conducting or directing research, and drawing meaningful conclusions from client and market data. This may involve developing client strategy, interfacing directly with clients and vendors, and mentoring more junior colleagues.
To fulfill this role, the senior analyst will:
- Analyze vendor renewals to negotiate fair and sustainable rates, expenses, and other charges
- Provide financial, contract and/or administrative analysis and manage portions of these projects by providing direction to and reviewing work of less experienced analysts
- Analyze cost drivers by reviewing client's cost/utilization data and looking for year-over-year trends or comparisons to external benchmarks using client data provided in vendor reports or raw data from external databases, and articulate results
- Analyze the results of plan design benchmarking to provide meaningful recommendations, including cost of the recommendations, to consultants and clients
- Perform analysis 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 team brainstorming sessions to develop client recommendations
- Prepare client presentations, including recommendations that will be presented to benefit specialists and human resource leaders within client organizations
- Develop project management and consulting skills: manage the quality and timeliness of client deliverables, help to develop budgets and billing reports, participate in client calls and meetings as appropriate, and assist with the preparation of clear and concise client-friendly communications
- Develop advanced understanding of the following, through online training, group sessions, or one-on-one training with others in a more senior role: products, services, and technical tools offered by Mercer; vendor markets including multi-line and specialty providers; basic underwriting and risk management arrangements; budget-setting, rate-setting and evaluation; government sponsored benefits that impact or influence the employer sponsored benefit plans.
- Bachelor’s degree in commerce, business, economics, statistics, actuarial science, or mathematics preferred
- Strong critical thinking and analytical problem-solving skills
- Strong command of Excel
- Excellent oral and written communication skills
- Superior organizational skills and strong attention to detail
- Ability to build productive and positive relationships with people
- Intellectual curiosity, seeking opportunities to develop new skills and solve problems
- Flexibility, adaptability, and the ability to work under tight deadlines and changing client needs
- Working towards certification (e.g., insurance license, CEBS, etc.) would be considered an asset
- Relevant experience in employee benefits or group insurance would be considered an asset.