Benefits Senior Associate, Health & Welfare Consulting

Fidelity Investments Inc.; Boston (MA); On-site; USD 95,000 - 125,000; Full time

Job summary

Fidelity Investments Inc. is seeking a Senior Associate within our Health & Welfare Consulting practice to deliver strategic and analytical support on employee benefits initiatives.

You will help develop and implement solutions for benefit programs, support client workforce objectives, and own core deliverables across project timelines. You will contribute to benefits strategy, plan design, funding analyses, pricing, vendor management, and retiree healthcare solutions while collaborating with

Qualifications

• 2–5 years of experience in benefit plan design and funding.
• Bachelor's degree is required.
• Strong Microsoft Office PC skills in Excel, Word, and PowerPoint.
• Actuarial exam completion and/or accreditation preferred.
• Experience with self-insured medical underwriting is required.

Responsibilities

• Collect, organize, validate, and analyze data to inform client recommendations, support project deliverables, and enable strategic decision making.
• Support the annual renewal process, including data gathering, financial analysis, carrier negotiations, and final recommendations.
• Assist in the development of health and welfare program budgets, contribution strategies, premium equivalent rates, and other financial projections for self-funded plans.
• Support vendor management activities, including RFP development, proposal evaluation, vendor comparisons, implementation support, and performance monitoring.
• Assist in negotiating rates, contractual provisions, and performance guarantees with carriers and benefit vendors.
• Apply knowledge of the health and welfare marketplace, including health plans, administrators, and specialty vendors, to support client recommendations and business development efforts.
• Build and maintain strong working relationships with colleagues, clients, vendor partners, and internal stakeholders.
• Maintain organized and accurate client documentation, including contracts, SPDs, employee communications, project plans, and meeting records.
• Own project tracking and documentation, including status updates, timelines, key decisions, and issue resolution.
• Proactively communicate risks, scope changes, resource constraints, or timeline concerns to project leaders.
• Prepare client deliverables, including presentations, reports, proposals, financial models, spreadsheets, and employee communication materials.
• Collaborate effectively with colleagues across the practice, region, and broader organization to deliver integrated client solutions.
• Mentor and support the development of junior associates through coaching, knowledge sharing, and collaborative project work.
• Foster a culture of transparency, teamwork, and continuous improvement by sharing information, seeking feedback, and contributing to team best practices.
• Continuously expand technical expertise and industry knowledge through professional development, training, and active participation in client engagements.

Skills

Excel

Word

PowerPoint

Actuarial exams

Self-insured underwriting

Education

Bachelor's degree

Job description

Fidelity will not provide immigration sponsorship for this position.

Job Description:

Note: Fidelity will not provide immigration sponsorship for this position.

The Role

As a Senior Associate within our Health & Welfare Consulting practice, you will play a key role in delivering strategic and analytical support to clients across a broad range of employee benefits initiatives. You will help develop and implement solutions that enhance benefit programs while supporting clients' workforce and business objectives.

Areas of focus will include benefits strategy development, plan design, compliance and reporting, funding analyses, pricing and contribution strategies, vendor management, and retiree healthcare solutions. In this role, you will take ownership of core Health & Welfare consulting deliverables, manage project timelines and priorities, and contribute to the delivery of high-quality client outcomes.

Success in this role requires strong analytical, problem-solving, and project management skills, as well as intellectual curiosity, attention to detail, and the ability to build effective relationships with clients, colleagues, and vendor partners.

Key Responsibilities

• Collect, organize, validate, and analyze data to inform client recommendations, support project deliverables, and enable strategic decision making.
• Support the annual renewal process, including data gathering, financial analysis, carrier negotiations, and final recommendations.
• Assist in the development of health and welfare program budgets, contribution strategies, premium equivalent rates, and other financial projections for self-funded plans.
• Support vendor management activities, including RFP development, proposal evaluation, vendor comparisons, implementation support, and performance monitoring.
• Assist in negotiating rates, contractual provisions, and performance guarantees with carriers and benefit vendors.
• Apply knowledge of the health and welfare marketplace, including health plans, administrators, and specialty vendors, to support client recommendations and business development efforts.
• Build and maintain strong working relationships with colleagues, clients, vendor partners, and internal stakeholders.
• Maintain organized and accurate client documentation, including contracts, SPDs, employee communications, project plans, and meeting records.
• Own project tracking and documentation, including status updates, timelines, key decisions, and issue resolution.
• Proactively communicate risks, scope changes, resource constraints, or timeline concerns to project leaders.
• Prepare client deliverables, including presentations, reports, proposals, financial models, spreadsheets, and employee communication materials.
• Collaborate effectively with colleagues across the practice, region, and broader organization to deliver integrated client solutions.
• Mentor and support the development of junior associates through coaching, knowledge sharing, and collaborative project work.
• Foster a culture of transparency, teamwork, and continuous improvement by sharing information, seeking feedback, and contributing to team best practices.
• Continuously expand technical expertise and industry knowledge through professional development, training, and active participation in client engagements.

The Expertise and Skills You Bring

• 2-5 years of experience in benefit plan design and funding. Background may encompass either consulting, plan sponsors or vendor organizations.
• Bachelor's degree is required.
• Strong Microsoft Office PC skills in Excel, Word, and PowerPoint
• Actuarial exam completion and/or accreditation preferred
• Experience with self-insured medical underwriting is required

The Team

Our health and welfare consulting team at Fidelity provides a unique experience for candidates looking to grow their consulting career. Our value proposition to associates is centered on three important qualities:

• We faithfully serve our clients' needs. Our work is oriented toward problem solving, and we always do what is best for our clients.
• We offer a fast-paced work environment and flat-working teams. You will work with our most senior leaders on a daily basis. You will learn from industry leaders with 20+ years of industry experience.
• Meaningful client exposure. We believe it is important for our associates to start working directly with our clients early in their Fidelity careers to develop strong relationships. As such, we provide opportunities for all consultants to gain valuable client exposure and help us build lasting client relationships.

Fidelity Workplace Consulting is composed of over 600 professionals who advise clients on their domestic and global benefits. We are a fast-growing business within Fidelity, providing a broad range of services that touch on every area of benefits design, strategy, funding, communication, and delivery. Most of our team comes from other leading consulting firms. For more information about Fidelity Workplace Con