Financial Consultant - Employee Benefits

IMA Financial Group; Boston (MA); Hybrid; USD 90,000 - 120,000; Full time

Benefits offered by this job

Annual Performance Bonus

Stock Purchase

Medical Plans

Dental

Vision

401(k)

Life/AD&D

Paid Time Off

Flexible Work Options

Paid Holidays

Well-Being Stipend

Job summary

IMA Financial Group in Boston, MA is seeking a seasoned financial strategy professional to lead complex consulting on employee benefit plans, cost projections, and risk management. You will translate technical analysis into client-ready recommendations and drive local process improvements.

You will negotiate with carriers, prepare RFPs, analyze renewals, and build custom reports for Client Executives and teams.

Qualifications

• 6+ years of related experience.
• College degree preferred or equivalent experience.
• Proficiency with MS Office Suites.
• Life and Health license or ability to obtain and maintain.
• Limited travel (<25%).
• Understands underwriting and actuarial computations.
• Analyzes and interprets data.
• Manages multiple projects while meeting timelines.
• Able to be firm and persuasive, while maintaining relationships.
• Handles confidential information with tact.

Responsibilities

• Supports and demonstrates IMA’s core values.
• Interacts professionally with clients via email, phone and in person.
• Leads complex technical work and strategic financial consulting on benefit plans.
• Communicates analysis on cost projections, savings opportunities, and risk management.
• Drives local process improvements and supports innovation.
• Prepares and manages RFPs for self-funded TPA and stop loss submissions.
• Collects, manages and reviews proposals for marketing events.
• Updates marketing results into spreadsheets for client presentations.
• Initiates renewal reviews including plans, costs, contributions and terms.
• Leads renewal recommendations and uses actuarial models to assess risk.
• Negotiates with carriers and maintains carrier/vendor relationships.
• Provides benchmarking, contribution, disruption, network, and GeoAccess analysis.
• Delivers underwriting cost projections for self-funded products.
• Develops and communicates self-funded IBNP analysis.
• Assesses risk and funding structures and presents findings.
• Analyses data for inconsistencies and trends and summarizes findings.
• Builds and customizes client reports.
• Prepares and presents client presentations with the team.
• Mentors analysts and performs technical reviews.
• Acts as subject matter expert for financial strategy functions.

Skills

MS Office proficiency

Data analysis

Project management

Client communication

Persuasion & negotiation

Education

Bachelor's degree preferred

Tools

MS Office

Job description

ESSENTIAL JOB RESPONSIBILITIES

include but are not limited to:

• Supports and demonstrates IMA’s core values
• Values and understands the importance of diversity, equity, and inclusion among all IMA associates
• Interacts professionally and timely with internal and external clients via email, phone and in-person
• Financial Strategy
  • Leads complex technical work and strategic financial consulting regarding employee benefit plans
  • Communicates technical analysis to clients regarding cost projections, savings opportunities, and proper risk management
  • Drives local process improvements and supports innovation
• Marketing/RFPs
  • Prepares and manages RFP for all self-funded TPA and stop loss submissions to market with Client Executive direction
  • Collects, manages, and reviews proposals on self-funded TPA and stop loss marketing events
  • Updates marketing results into spreadsheet ensuring accuracy to be used internally and in client presentation
• Renewals
  • Initiates review of fully insured medical, and self-funded TPA and stop loss renewals, including plans, cost, contributions and contract terms
  • Leads recommendations to client regarding renewal analysis
  • Utilizes actuarial models to assess changes to risk and plan structure
• Partnership & Negotiation
  • Negotiates with carriers based on client’s targeted goals
  • Maintains ongoing relationships with carrier and vendor partners
• Provides analysis for benchmarking, contribution, disruption, network, stop loss deductible and GeoAccess analysis
• Provides and communicates underwriting cost projections for self-funded medical/Rx, dental, and vision products.
• Develops and communicates self-funded IBNP analysis to client
• Assess proper risk and funding structures such as fully insured vs. self-funded analysis, and presents findings to client to align with client goals
• Reporting
  • With minimal guidance, analyzes data for inconsistencies and trends
  • Provides a written and oral summary of findings to Client Executive, and directs strategic considerations for managing cost
  • Builds and customizes reports to fit client needs
• Presentation
  • Prepares client presentations and presents in front of client with as part of team with Client Executive, Client Manager, and various subject matter experts.
• Provides mentorship to analysts and performs technical review of work
• Serves as a subject matter expert for specific financial strategy functions, and leads local process improvements
• Serves as experienced peer reviewer, ensuring standards of practice and work quality standards are met

REQUIRED EXPERIENCE AND SKILLS

include but are not limited to:

• 6+ years of similar or related experience
• Prefer college graduate, 4-year degree or equivalent experience
• Proficiency with MS Office Suites
• Attains Life and Health license & maintains through continuing education requirements
• Limited travel required (less than 25%)
• Understands concepts of underwriting and actuarial computations
• Analyzes and interprets data
• Effectively manages multiple projects while meeting timelines
• Ability to be firm and persuasive when needed, while maintaining good relationships
• Handles confidential information with tact and discretion

Salary Range: $90,000 USD - $120,000 USD

Being a part of IMA has its benefits. When you become part of the IMA family, you become eligible to take part in our valuable benefits and rewards package designed to benefit you, your family, and your life. Our plans are cost-effective, convenient and provide progressive ways for staying healthy, protecting loved ones, pursuing financial security and living a full and balanced life. This role is eligible for the following:

• Annual Performance Bonus
• Stock Purchase
• Medical Plans
• Prescription Drugs
• Dental
• Vision
• Family Assistance Program
• FSA
• HSA
• Pre-Tax Parking Plan
• 401(k)
• Life/AD&D
• Accident
• Critical Illness
• Hospital Indemnity
• Long Term Care
• Short-term Disability
• Long-term Disability
• Business Travel Accident
• Identity Theft
• Paid Time Off
• Flexible Work Options
• Paid Holidays
• Sabbatical
• Gift Matching
• Well-Being Stipend
• Personal and Professional Development

*These benefits do not apply to internship roles.

Why Join IMA?

We’ve built a reputation for putting our associates first

What if we told you that you could be an integral part of an entrepreneurial, expanding company, develop lasting relationships, earn competitive benefits, plus claim part ownership? It’s this unique ownership business model that makes working at IMA so appealing.

We work in teams. We sell in teams. We win and prosper as a team

We provide support systems and resources that enable each of our associates to focus on what they do best. And as an independent company based in the Midwest, we’re big enough to write business all over the world and small enough to implement your ideas quickly.

We are recognized nationally as a leader in our industry

• 2020-2023Business Insurance Magazine Best Places to Work in Insurance
• 2023 Inc. Magazine’s Best Workplaces
• 2023 Denver Business Journal’s Best Places to Work
• 2022-2023 Connecticut TopWork Places
• 2021-2023 Inc. 5000’s List of Fastest Growing Companies
• 2019-2022 Civic 50 Colorado Honoree Recognizing 50 Most Community-Minded Companies
• 2022-2023 Kansas City Business Journal’s Best Places to Work
• 2021-2023 Charlotte Business Journal’s Best Places to Work
• 2021-2023 Los Angeles Business Journal’s Best Places to Work
• 2021-2023 The Salt Lake City Tribune TopWork Places
• 2021-2022 Puget Sound Business Journal’s Washington’s Best Workplaces
• 2021-2022 Wichita Business Journal’s Best Places to Work, #1 in extra-largecategory
• 2021 Dallas Business Journal’s Best Places to Work
• 2021 Alaska Journal of Commerce’s Best Workplaces in Alaska

This Job Description is not a complete statement of all duties and responsibilities comprising this position.

The IMA Financial Group, Inc. provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, sex, national origin, age, disability or genetics. In addition to federal law requirements, The IMA Financial Group, Inc. complies with applicable state and local laws governing nondiscrimination in employment in every location in which the company has facilities.