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Senior Financial Underwriting Analyst
Marsh & McLennan Companies
Conshohocken, PA, United States
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Description
The Senior Financial Analyst is a cross functional role tasked with supporting the MMA Stop Loss Center of Excellence and Prescription Drug Practice within Trion.
ESSENTIAL DUTIES AND RESPONSIBILITIESinclude, but are not limited, to the following:
• Partner with carriers and internal teams to build and maintain schedules for client renewal and data collection to ensure consistent and timely receipt;
• Perform underwriting, financial, and risk analysis support for internal teams and their respective consulting clients;
• Request, accept, save, and assemble data in:
◦ Reporting database and templates
◦ Pricing tools
◦ Reconciliation templates
• Develop and customize reports for internal team members with current and prospective client data;
• Coordinate assignment of stop loss RFPs;
• Provide guidance/support and training for internal team members;
• Review renewals and proposals for accuracy;
• Coordinate with team member to understand Stop Loss RFP status and overall panel block positions;
• Update Leadership on identified trends in stop loss market including tracking DTQ rate, overall renewal positions and contractual concerns to be addressed as part of ongoing panel management conversations;
• Leverage available internal tools, such as the Windsor Model, to provide actuarial modeling of various stop loss deductible levels;
• Support stop loss captive quoting process;
• Maintain quality service standards to assure timely service to internal teams;
• Remain abreast of the dynamic, competitive insurance environment, new and complex insurance initiatives, appropriate data analysis techniques and constantly changing legislation that governs business;
• Support other initiatives of the Data Analytics team as needed.
Marsh & McLennan Companies and its Affiliates are EOE Minority/Female/Disability/Vet/Sexual Orientation/Gender Identity employers.
Qualifications
• Bachelor’s Degree in Risk Management & Insurance, Actuarial Science, Mathematics and/or other related field is preferred or equivalent experience is required;
• Minimum of five years prior work experience with prescription drug benefit design and pricing in the Benefits Brokerage, Consulting, or Insurance industry;
• Strong background in self-funding, stop loss and prescription drug underwriting required.