Senior Actuarial Analyst

Lockton; Chicago (IL); On-site; USD 90,000 - 130,000; Full time

Benefits offered by this job

Annual performance bonus

Job summary

Lockton Companies LLC is seeking a Senior Actuarial Analyst to contribute to health and welfare financial work for employer clients in Lockton's Midwest series. You will analyze data with cross-functional teams to deliver financial reporting and insights on health benefit plans.

The role emphasizes professionalism, adaptability in a fast-paced environment, and collaboration with client service teams to support claim reporting, rate setting, and plan design modeling.

Qualifications

• Bachelor's degree in actuarial science, math, data science, statistics, or related field preferred.
• ASA or FSA near-credential or active accreditation required.
• 4+ years of group health benefits experience.
• Ability to compile, analyze, present, and interpret financial and statistical information.

Responsibilities

• Financial analysis for employer group health plans including ongoing claim reporting, rate setting, contribution development and plan design modeling.
• Leverage existing models for analysis and illustration of client health plan financial patterns and outcomes, and contribute to custom reports.
• Evaluate benefits utilization and claims data to assist clients in developing cost management and health risk strategies.
• Proactively review multiple data sources for benchmarking and storytelling.
• Prepare spreadsheets, graphs, charts, diagrams for presentations and reports.

Skills

Analytical skills

Quantitative skills

Interpersonal skills

Education

Bachelor's degree in Actuarial Science, Mathematics, Data Science, Statistics, or related field

ASA or FSA near-credential or accreditation

Tools

Excel

Job description

The Senior Actuarial Analyst contributes to development, delivery and related consulting on health and welfare financial work for employer clients in Lockton's Midwest Series. They will leverage and analyze data in collaboration with other financial and client service team members to deliver comprehensive financial reporting and insights for clients related to their health benefit plans. The ideal candidate will demonstrate a high level of professionalism, possess the ability to work well in a fast-paced environment and the flexibility to easily adapt to changing priorities.

Your Responsibilities

• Financial analysis for employer group health plans including ongoing claim reporting, rate setting, contribution development and plan design modeling
• Leverage existing models to assist in analysis and illustration of client health plan financial patterns and outcomes. As needed, contribute to custom reports and analysis for specific client needs.
• Evaluate benefits utilization and claims data to assist clients in developing cost management and health risk management strategies
• Proactively looking at multiple data sources for ongoing benchmarking and storytelling
• Prepare spreadsheets, graphs, charts, diagrams, and other illustrative tools for presentations and reports
• Support development of health plan reserve estimates for self-funded clients. Upon actuarial accreditation, provide certification of results.
• Participate in client meetings, as needed, delivering financial information and results.
• Assist service teams with development and evaluation of carrier RFPs for all coverage lines, including modeling of network changes and payment alternatives.
• Perform special projects as necessary, including preparation of custom reports and analysis for specific client needs
• Keep informed of insurance industry developments and products available in the marketplace

Compensation And Benefits

Lockton Companies LLC is committed to offering competitive pay and benefits and complies with all relevant state/local pay transparency laws. The entry base salary offered for this opportunity may vary, and is contingent upon candidate education, skills, abilities, essential competencies, experience, professional designations, unique qualifications, and geographic location.

Performance Bonus: This role may be eligible for an annual performance bonus, based upon the financial performance of the organization and the individual contributions of the Associate.

Check out Lockton Benefits Offerings Here

Essential Duties

• Financial analysis for employer group health plans including ongoing claim reporting, rate setting, contribution development and plan design modeling
• Leverage existing models to assist in analysis and illustration of client health plan financial patterns and outcomes. As needed, contribute to custom reports and analysis for specific client needs.
• Evaluate benefits utilization and claims data to assist clients in developing cost management and health risk management strategies
• Proactively looking at multiple data sources for ongoing benchmarking and storytelling
• Prepare spreadsheets, graphs, charts, diagrams, and other illustrative tools for presentations and reports
• Support development of health plan reserve estimates for self-funded clients. Upon actuarial accreditation, provide certification of results.
• Participate in client meetings, as needed, delivering financial information and results.
• Assist service teams with development and evaluation of carrier RFPs for all coverage lines, including modeling of network changes and payment alternatives.
• Perform special projects as necessary, including preparation of custom reports and analysis for specific client needs
• Keep informed of insurance industry developments and products available in the marketplace

Qualifications

• Bachelor's degree required (major in Actuarial Science, Mathematics, Data Science, Statistics, or related field preferred). Recent actuarial accreditation (ASA or FSA) or near-ASA credentials required
• 4+ years of group health benefits experience at a brokerage/consulting firm or insurance carrier
• Must have the ability to compile, analyze, present, and interpret financial and statistical information to facilitate decision making
• Knowledge of all aspects of the healthcare marketplace including plan design, pricing, reserving, benchmarking, and financial management/analysis
• Personal presence to interface in client and prospect organizations, representing Lockton in a professional manner
• Organizational and time management skills to prioritize workloads to meet time sensitive deadlines required, along with the ability to work independently under the supervision or guidance of others.
• Must be results-oriented with the ability to change priorities as needed
• Excellent verbal, written, and interpersonal skills to interact with clients and associates at all levels of responsibility
• Excellent quantitative, analytical, and problem-solving skills
• Strong knowledge of Microsoft Products (particularly Excel); skill in using computer application software for financial modeling, statistical analysis, and other database analyses
• Ability to travel as needed