Actuarial Analyst, Social Healthcare & Public Entities

McKinsey - Chicago, IL

Full-time - Entry Level

Chicago, IL

Professional, Scientific, and Technical Services

About the position

As a Consulting Actuarial Analyst within our Social, Healthcare and Public Entities (SHaPE) practice, you will be part of a dynamic team that includes over a dozen actuaries specializing in various segments of the healthcare industry, including commercial, Medicare, and Medicaid. Your role will involve collaborating closely with clients to provide insights and analytics that drive strategic and operational decisions. The Actuarial team is dedicated to building and implementing sophisticated actuarial models that help clients optimize their risk-based healthcare businesses. You will engage in client projects that require a deep understanding of healthcare analytics, risk adjustment, and profitability optimization. In this position, you will leverage your actuarial knowledge and analytical skills to develop capabilities that enhance client service. Your workstreams may encompass a wide range of quantitative analyses, including claims analysis, product pricing, marketing analytics, and segmentation modeling. You will be expected to apply various analytic approaches to create measurable business impacts, ensuring that our clients can make informed decisions based on robust data insights. The role demands strong project management skills, as you will need to navigate multiple assignments in a fast-paced environment while maintaining a collaborative approach with team members and clients alike.

Responsibilities

• Leverage actuarial and industry experience to provide expertise and insights as part of client service teams.
• Conduct quantitative analyses across claims, product, pricing, marketing, and sales analytics.
• Perform segmentation analysis, propensity modeling, funnel analysis, and risk mix modeling.
• Develop and implement actuarial models to optimize client growth and profitability.
• Collaborate with clients to embed tools and analytics into their decision-making processes.
• Manage multiple assignments effectively in a dynamic and complex environment.

Requirements

• University degree with an excellent academic record.
• 2+ years of work experience driving business results.
• ASA or FSA designation is required.
• Health insurance experience is highly preferred.
• Significant experience with statistical software packages such as SAS, SPSS, R, and database software packages such as SQL.
• Experience in segmentation analysis and world-class product pricing.
• Demonstrated ability to apply analytic approaches to create meaningful business impact.
• Strong project management skills with the ability to manage multiple assignments.
• Proven record of leadership and collaboration in a team environment.

Nice-to-haves

• Experience in digital marketing analytics.
• Familiarity with healthcare industry regulations and compliance standards.

Benefits

• Medical, mental health, dental, and vision coverage.
• Telemedicine services.
• Life, accident, and disability insurance.
• Parental leave and family planning benefits.
• Caregiving resources.
• Generous retirement contributions program.
• Financial guidance and paid time off.