Health & Benefits Actuarial Associate

Description:

Mercer Marsh Benefits (MMB) has a fantastic opportunity to join our organization as a Health & Benefits Actuarial Associate. This is Hybrid position and can be based in either Montreal, Ottawa, Toronto or Quebec City.

MMB is part of the Marsh McLennan family, bringing together a broad spectrum of expertise to help clients navigate the complex world of risk & wealth management, HR consulting and employee benefits.

MMB is a global leader in the health and benefits marketplace. Operating in 135 countries, our team of specialists’ design benefits solutions that meet the needs of businesses and their people, drawing from global intelligence and adapting that wealth of experience to local markets.

Simple select is our facility solution for small to mid-size employers leveraging carrier negotiated block arrangements designed to help clients attract and retain the talent needed to grow their business and keep their people healthy.

This role works with our Simple select by Mercer Marsh Benefits. Simple select by MMB is Mercer’s exclusive “One-Stop-Shop” for small to mid-sized organisations’ group benefits and human resources needs.

The applicable base salary range for this role is $60,000 to $90,000
The base pay offered will be determined on factors such as experience, skills, training, location, certifications, and education. Decisions will be determined on a case-by-case basis. In addition to the base salary, this position may be eligible for performance-based incentives.
We are excited to offer a competitive total rewards package which includes health and welfare benefits, tuition assistance, retirement programs as well as employee assistance programs.

We will count on you to:

Simple select - Being an ambassador

• Point of contact for ongoing local consulting team questions
• Collaborate with operations to ensure all terms and conditions released to renewal methodologies and placement process are implemented
• Develop and improve efficiency leveraging new technology
• Collaborate with Operational co-ordinator to develop procedural efficiencies and adapt newly launched technology
• Support educating junior team members on process and procedures as well as new products
• Collaborate with the SME leader to manage the technical aspects of submissions, plans, experience tracking, and renewal negotiations with insurers.

Simple select by MMB marketings

• Complete marketing and financial reports into templated reports within required turnaround time
• Peer review other Simple select by MMB teammates work to ensure accuracy and reasonableness of quotes
• Assist in maintaining block quote tracking tool and act as mentor for the team
• Assist in assigning quote requests to team and peer review prior to sending to local consulting teamAssist in tracking carrier inconsistencies for competitiveness and report to SME Leadership team for quarterly insurer reviewEnsure all negotiated terms and conditions are applied

Simple select by MMB block renewals

• Work as part of the block renewal team to collect and review renewal data for accuracy and reasonableness
• Prepare templated client reports to cascade to local consulting teams
• Respond to questions from local teams related to the block renewal

Experience reports

• Maintain experience reporting calendar for each Simple select by MMB preferred partner and lead the process
• Gather necessary data from the preferred partner review to ensure it is complete, accurate and reasonable; and prepare templated experience reports with the support of other Simple select by MMB teammates
• Work with other Simple select by MMB teammates to ensure all experience reports are sent in timely fashion

Simple select Templates

• Lead and assist development and evolution of tools and templates used for workflow, financial summaries and block renewals
• Offer suggestions for improved processes
• Liaise with local consultant teams to ensure templates are current and valid

Work on non-Simple select clients

• Validate and compare premiums for group benefit plans under vendor renewals, quotes or benchmarking exercises
• Produce experience monitoring reports for clients and analyze the impact of any recent changes
• Prepare cost projections for plan options
• Analyze financial statements of group insurance plans and review the financial agreement to suit the client needs
• Analyze, negotiate and complete renewal reports for clients out of the Simple select
• Complete reporting for globally managed clients
• Peer review other teammates’ work to ensure accuracy and reasonableness
• Assist with day-to-day inquiries from the client

What You Need to Have:

• 3-5 years of employee benefits experience, with a mix of project management and analytical support
• Strong analytical skills with proficiency in Excel and MS Office; knowledge of VBA, Alteryx, Python, or SQL is an asset
• Solid understanding of group benefit underwriting principles, placement methodologies, and funding methods
• Excellent interpersonal, verbal, and written communication skills; bilingualism (French/English) is an asset
• Ability to work independently and collaboratively within a team, managing multiple priorities under tight deadlines
• Superior organizational skills and strong attention to detail
• LLQP designation is an asset
• Willingness to obtain and maintain appropriate Life licenses as required by provincial regulations and Mercer policies
• Diploma in actuarial science, Mathematics, Statistics, or equivalent is preferred but not mandatory

What makes you standout:

• Track record in customer service and managing multiple and concurrent internal deliverables
• Ability to communicate health and benefit related concepts to a broad range of colleagues and internal clients (local teams)

Why join our team:

• We help you be your best through professional development opportunities, interesting work and supportive leaders.
• We foster a vibrant and inclusive culture where you can work with talented colleagues to create new solutions and have impact for colleagues, clients and communities.
• Our scale enables us to provide a range of career opportunities, as well as benefits and rewards to enhance your well-being.

Mercer, a business of Marsh McLennan (NYSE: MMC), is a global leader in helping clients realize their investment objectives, shape the future of work and enhance health and retirement outcomes for their people. Marsh McLennan is a global leader in risk, strategy and people, advising clients in 130 countries across four businesses: Marsh, Guy Carpenter, Mercer and Oliver Wyman. With annual revenue of $24 billion and more than 90,000 colleagues, Marsh McLennan helps build the confidence to thrive through the power of perspective. For more information, visit mercer.com, or follow on LinkedIn and X.Marsh McLennan is committed to embracing a diverse, inclusive and flexible work environment. We aim to attract and retain the best people and embrace diversity of age background, disability, ethnic origin, family duties, gender orientation or expression, marital status, nationality, parental status, personal or social status, political affiliation, race, religion and beliefs, sex/gender, sexual orientation or expression, skin color, or any other characteristic protected by applicable law. In accordance with applicable legislation, Marsh McLennan will provide a reasonable accommodation to employees and prospective employees to the point of undue hardship upon request and as required in respect of the individual’s particular restrictions and limitations. If you require a specific accommodation because of a disability or medical need please contact Marsh McLennan is committed to hybrid work, which includes the flexibility of working remotely and the collaboration, connections and professional development benefits of working together in the office. All Marsh McLennan colleagues are expected to be in their local office or working onsite with clients at least three days per week. Office-based teams will identify at least one “anchor day” per week on which their full team will be together in person.