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Senior Associate Consultant - Data Analytics

Company: Conner Strong & Buckelew
Location: Camden
Posted on: September 13, 2023

Job Description:

Senior Associate Consultant Data Analytics Team Department: Employee Benefits Data Analytics and Underwriting Job Summary: The Senior Associate Consultant for the Data Analytics and Underwriting Team is responsible for performing detailed consultative reviews of the health and welfare plans for existing clients. Focuses heavily on analysis of plans and other financials, budget forecasting, plan modeling, contribution analysis, conducting trend and cost analysis of claim history. The Data Analytics Team supports the client facing consulting teams and the new business sales team in performing the analytical services noted throughout. Principal Responsibilities:

  • Perform senior level Consultative Support to the Consulting team based on a detailed analytic review existing clients health and welfare plans; including medical, pharmacy, stop loss, dental, vision, life/disability, and voluntary plans.
  • Review to include performing detailed gap analysis for all coverages, examining cost and policy data, plan design strategies, contribution modelling, budget forecasting followed by detailed recommendations and corrective action steps for prospective/and or existing clients.
  • Particular expertise with large self-funded accounts as it relates to variable and fixed expenses. Management of the carrier claims reporting process as it relates to timing and accuracy. Solid knowledge of stop loss arrangements and contracts.
  • Knowledge of the application of self-funded arrangements as it relates to our Captive practice
  • Ability to develop custom financial modelling at the clients request and/or the ability to incorporate a non-standard request using our existing tools.
  • Maintenance of an assigned book of business, managing the Consulting team and client needs.
  • Ability to manage both internal and external deadlines.
  • Attend client meetings/conference calls at the request of the Consultant.
  • Work with Consultants and Associate Consultants to analyze and negotiate rate renewals and year-end financials on behalf of clients. Responsible for proactive preparation for renewal negotiation process through detailed analysis of client objectives, claims experience and benchmarking analysis. Identifying and introducing market trends to provide clients with an understanding and justification of renewal action. Prepare recommendations and presentations to support the RFQ/RFP process for renewal business.
  • Assist with project analysis work related to larger, more complex clients. This may include but is not limited to claims analysis, trend and utilization analysis, IBNR and reserve studies, lag analysis, vendor discount reviews and other special ongoing data projects requests that may arise.
  • Manage and perform benefit cost modeling projects using the Data Analytics tools available including the Underwriting Model, Actuarial Value Calculator, BeneView (claim/cost versus budget tracking), and various Data Warehouse tools utilized by our clients.
  • Knowledge of the pharmacy marketplace and ability to evaluate the financial terms of various PBMs, including discounts, fees, rebates, and the impact of changes in formulary and utilization management.
  • Remain current on industry trends and information, new product information, legislation, regulatory requirements, coverages, compliance, and technology; communicate changes and address issues with Consulting teams and clients on a proactive basis. Other Functions
    • Projects and assignments essential to the day-to-day operations of the employee benefits division as needed.
    • Other duties as assigned. Requirements
      • Bachelors degree and/or equivalent business experience required.
      • Minimum of 7-10 plus years of experience working in the employee benefits field; preferably in an in a financial consulting role
      • Strong working knowledge in underwriting, plan design, employee contributions, plan funding, data warehouse management, and related compliance issues impacting health and welfare plans.
      • Experience in plan cost analysis, claim analysis and reconciliation and evaluation of financials.
      • Demonstrated knowledge of both self-insured and fully insured plans and both private and public sector clients.
      • Strong written and verbal communication skills, presentation skills, critical thinking and problem-solving skills.
      • Ability to make verbal in person presentations to internal staff and prospects/clients.
      • Ability to work independently on projects and in a consultative team environment.
      • Advanced proficiency in Microsoft Excel including financial modeling and underwriting analysis.
      • Proficiency in the Microsoft Office products including PowerPoint, Access, and Word.
      • Authorized to work in the United States on a full-time basis without Company sponsorship. Specialized Knowledge or LicensesHealth and Life license required.Completion of actuarial exams preferred.Related designations preferred. Working Conditions Office environment with moderate noise level; Able to work flexible hours and travel to other Conner Strong buildings and client work sites on a regular basis. Conner Strong & Buckelew is proud to be an equal opportunity employer. All qualified applicants will receive consideration without regard to race, color, religion, gender, affectional or sexual orientation, gender identity or expression, national origin, ancestry, nationality, age, disability (physical or mental), marital or domestic partnership or Civil Union status, pregnancy, family medical history or genetic information, atypical cellular or blood trait, military service or any other status protected by law.

Keywords: Conner Strong & Buckelew, Camden , Senior Associate Consultant - Data Analytics, Professions , Camden, New Jersey

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