Actuarial Analyst, Social Healthcare & Public Entities

McKinsey - Boston, MA

Full-time - Mid Level

Boston, MA

Professional, Scientific, and Technical Services

About the position

As an Actuarial Analyst within the Social, Healthcare and Public Entities (SHaPE) practice at McKinsey & Company, you will be part of a dynamic team that focuses on providing actuarial expertise to clients in the healthcare sector. The Actuarial team consists of over a dozen actuaries who specialize in various segments including commercial, Medicare, and Medicaid. Your role will involve working closely with clients to help them optimize the growth and profitability of their risk-based healthcare businesses through the development and implementation of actuarial models. You will be engaged in client engagements that require a deep understanding of the healthcare industry, and you will provide practical tools and insights that assist organizations in making informed strategic and operational decisions. In this position, you will leverage your actuarial knowledge and analytical skills to contribute to various workstreams that encompass quantitative analyses related to claims, product pricing, marketing, and sales analytics. This includes tasks such as segmentation analysis, propensity modeling, funnel analysis, customer lifetime management (CLM), digital marketing strategies, risk mix modeling, and pricing strategies. Your contributions will be vital in embedding analytical tools and methodologies within client organizations, ensuring they have the capabilities to make data-driven decisions that can transform their operations. The role requires a collaborative approach, as you will be working alongside client service teams to deliver insights and support that drive business results. You will also be expected to manage multiple assignments effectively in a fast-paced environment, demonstrating strong project management skills and flexibility. Your ability to lead and work with diverse teams will be essential in achieving successful outcomes for our clients.

Responsibilities

• Leverage actuarial and industry experience to develop capabilities and provide expertise 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 customer lifetime management (CLM).
• Engage in digital marketing strategies and risk mix modeling.
• Develop and implement actuarial models to optimize growth and profitability for risk-based healthcare businesses.
• Collaborate with clients to embed tools and analytics, providing ongoing support for decision-making processes.
• Manage multiple assignments in a dynamic and fast-paced 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 and measurable business impact.
• Strong project management skills with the ability to manage multiple assignments.
• Proven record of leadership and collaboration in a team environment.
• Willingness to travel.