Employee Benefit Analyst III

USI Insurance Services; Rancho Cordova (CA); On-site; USD 60,000 - 80,000; Full time

Benefits offered by this job

Medical, dental, and vision care

401(k) plan

Generous paid time off

Paid family leave

Job summary

USI Insurance Services in Rancho Cordova, California seeks a skilled Financial Analyst to handle financial analytics and client management for benefit programs. You'll work directly with insurance carriers, perform detailed analyses and develop custom solutions to meet client needs.

The ideal candidate has at least 3 years of experience in employee benefits, strong negotiation and communication skills, and is proficient in Excel. Competitive benefits package, including health insurance and generous paid leave, is offered.

Qualifications

• At least 3 years of experience in employee benefits or related field.
• Must hold or be willing to obtain a state Life & Disability insurance license.
• Strong problem-solving and critical-thinking skills.

Responsibilities

• Analyze information and create financial deliverables for clients.
• Prepare and customize financial analyses for clients.
• Serve as primary contact with insurance carriers and negotiate coverage.
• Write client-facing executive summaries and correspondence.

Skills

Financial analytics

Client management

Negotiation skills

Communication skills

Analytical thinking

Education

High school diploma; college degree preferred

Tools

Microsoft Excel

Microsoft Word

Job description

General Description

Responsible for analyzing information and creating financial deliverables for clients with standard to complex benefit programs, including fully insured and self‑funded clients.

Responsibilities

• Financial analytics for fully insured and self‑funded clients (typical client size 100‑1,000 lives).
• Prepare standard analyses with occasional customization, including market review analysis; renewal rate and funding projections and modeling; analysis of claims utilization; rate and contribution analysis; benchmarking; financial funding analysis; IBNR and lag analyses.
• Develop alternative strategies, plan modeling, and cost‑reduction opportunities.
• Perform technical analysis of group insurance contracts and financial arrangements.
• Serve as primary contact with insurance carriers; negotiate and market coverage for new business quotes and renewals; prepare renewal or new plan options with executive summary.
• Develop and maintain carrier relationships.
• Review and validate carrier renewal rating illustration.
• Analyze experience and claims utilization data for financial and plan usage conclusions; identify trends and relationships to renewal rating; suggest action items.
• Write client‑facing executive summaries that provide observations, conclusions, recommendations, and next steps.
• Prepare carrier and client written correspondence, including renewal confirmation letters and client renewal letters.
• Occasionally conduct analysis using internal and third‑party tools (USI 3D, USI Clear Options Rx, actuarial tools).
• Participate in peer review process as a participant and reviewer.
• Occasionally participate in new analyst onboarding training.
• Keep current on industry and new product information, legislation, technology, and trends.

Knowledge, Skills and Abilities

• At least 3 years of experience in employee benefits or related field.
• High school graduate; college degree preferred.
• Must hold or be willing to obtain a state Life & Disability insurance license.
• Ability to work in a fast‑paced, team environment with minimal instruction.
• Ability to manage and negotiate multiple priorities and deadlines.
• Strong written, verbal, and interpersonal communication skills.
• Working knowledge of Microsoft Office products, including Excel and Word.
• Ability to become proficient in internal analytic systems and carrier online reporting tools.
• Strong problem‑solving and critical‑thinking skills.
• Ability to carry out complex tasks with many concrete and abstract variables.

Benefits

USI is committed to providing a full suite of competitive benefits, including medical, wellness, dental, and vision care; 401(k); flexible spending accounts and health savings accounts; short‑ and long‑term disability; life insurance; and other employer‑sponsored and voluntary programs. USI also offers generous paid time off, paid family leave, and paid holidays.