HEALTH ACTUARIAL ANALYST - INTERNSHIP SUMMER 2019
Are you looking to join a team that accomplishes outstanding and innovative work? Mercer is the global leader for trusted HR and related financial advice, products, and services. In our work with clients, we make a positive impact on the world every day. We do this by enhancing the financial and retirement security, health, productivity, and employment relationships of the global workforce. In line with this, Mercer allows its employees to personalize their roles and careers within the Company. We encourage the sharing of intellectual capital in a spirit of partnership. You can expect to be challenged … and to be rewarded for your achievements.
The Health Actuarial Analyst will provide accurate and timely data and financial analysis on various actuarial/financial projects for pricing of medical, dental, life and disability programs. To fulfill this role, the Actuarial Analyst will:
- Employ actuarial techniques to perform valuation modelling of retiree group benefit plan costs and post-employment obligations
- Participate in the preparation of annual financial reporting of post-employment obligations in accordance with governing accounting standards (i.e. International Financial Reporting Standards, Chartered Professional Accountants’ Handbook, Financial Accounting Standards Board)
- Perform basic cost projections by entering the client's cost and enrollment data into an Excel spreadsheet and projecting costs for the next plan year
- Analyze vendor renewals by checking carrier or vendor's plan rates for reasonableness and by analyzing claims and enrollment data, trend rates, administrative expenses and other charges
- Price medical and prescription drug plan designs by entering plan design information into Mercer's internal pricing model to develop the relative cost differences between plan designs, in order to compare the client's current plan to alternative designs
- Develop employee contributions scenarios by entering current employee medical contribution data into an Excel spreadsheet and project contributions to the next plan year, taking into account the cost-sharing goals of the client
- Gain an understanding of basic project management and consulting skills such to include: managing the quality and timeliness of client deliverables, helping to develop budgets and billing reports, participating in client calls and meetings as appropriate and assisting with the preparation of clear and concise client-friendly communications
- Gain an understanding of the following, through online training, group sessions, or one-on-one training with others in a more senior role: Health and Benefits products, services and technical tools offered by Mercer, vendor/carrier markets, basic underwriting and actuarial skills, budget-setting, rate-setting and evaluation.
The Health Actuarial Analyst may:
- Perform pricing and evaluation of consumerism plans using Mercer's internal pricing model to compare designs where consumers have a greater ownership in costs
- Analyze cost drivers by reviewing client's cost/utilization data and looking for year-over-year trends or comparisons to external benchmarks using data provided from client's vendor reports or raw data from external databases
- Perform analyses for larger, more complex clients, including more in-depth analysis for complex situations that may require additional research or discussion with Mercer subject matter experts
- Gather necessary data from the vendor or client; review to ensure it is complete, accurate and reasonable; and prepare data in a particular template or format for use in basic or advanced financial analyses or valuations.
- Completion of one (1) year towards a Bachelor’s Degree in Actuarial Science, Mathematics, Statistics, Economics, Administration or a related field when internship begins;
- Superior analytical skills;
- Proficiency with Microsoft Office (Excel, Word);
- Strong organizational skills;
- Ability to work in a team environment where the priorities and requirements change quickly;
- Excellent interpersonal communication skills; strong verbal and written communication skills;
- Please submit your resume via our website at www.mercer.ca (Careers Section).
In accordance with the Accessibility for Ontarians with Disabilities Act, 2005, Marsh 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 a medical need, feel free to contact Stéphanie Joseph at 416 349 4855 or email@example.com.
At Mercer, we make a difference in the lives of more than 110 million people every day by advancing their health, wealth, and careers. We’re in the business of creating more secure and rewarding futures for our clients and their employees — whether we’re designing affordable health plans, assuring income for retirement or aligning workers with workforce needs. Using analysis and insights as catalysts for change, we anticipate and understand the individual impact of business decisions, now and in the future. We see people’s current and future needs through a lens of innovation, and our holistic view, specialized expertise, and deep analytical rigor underpin each and every idea and solution we offer. For more than 70 years, we’ve turned our insights into actions, enabling people around the globe to live, work, and retire well. We embrace a culture that celebrates and promotes the many backgrounds, heritages and perspectives of our colleagues and clients. At Mercer, we say we Make Tomorrow, Today. Visit www.mercer.com for more information and follow us on LinkedIn and Twitter @Mercer
Marsh & McLennan Companies offers competitive salaries and comprehensive benefits and programs including: health and welfare, tuition assistance, pension, employee assistance program, domestic partnership benefits, career mobility, employee network groups, volunteer opportunities, and other programs. For more information about our company, please visit us at: http://www.mmc.com/. We embrace a culture that celebrates and promotes the many backgrounds, heritages and perspectives of our colleagues and clients. For more information, please visit us at: www.mmc.com/diversity.
Mercer LLC and its separately incorporated operating entities around the world are part of Marsh & McLennan Companies, a publicly held company (ticker symbol: MMC).
Marsh & McLennan Companies and its Affiliates are EOE Minority/Female/Disability/Vet/Sexual Orientation/Gender Identity employers.
Marsh & McLennan Companies and its Affiliatesare EOE Minority/Female/Disability/Vet/Sexual Orientation/Gender Identity employers.