Healthcare Financial/Actuarial Analyst

Willis Towers Watson - Chicago, IL

Full-time - Entry Level

Chicago, IL

Insurance Carriers and Related Activities

About the position

As a Healthcare Financial/Actuarial Analyst, you will play a crucial role in supporting a diverse range of projects that focus on the design, funding, measurement, and financial analysis of employer health and welfare benefit programs. These programs encompass medical, dental, life, disability, and voluntary benefits, among others. Your responsibilities will include interfacing with client teams, contributing to analyses and client deliverables, and ensuring that quality standards are consistently met. This position offers a unique opportunity to enhance your health and benefits business acumen, as well as your financial, project management, and communication skills, by working on innovative projects alongside industry leaders. In this role, you will actively support multiple client teams in developing financial analyses, outputs, and client deliverables, all while receiving clear guidance and direction. You will be expected to develop a working proficiency in core financial, actuarial, and analytics theories, models, and tools. Your contributions will support accurate and reliable claim reporting and financial modeling, which are essential for guiding client decisions. You will also assist in financial modeling of benefit plan designs, cost avoidance strategies, budget projections, and rate/contribution development, all under the guidance of experienced professionals. Your responsibilities will include executing specific tasks that contribute to financial and actuarial deliverables for clients, adhering to deadlines, and partnering with Global Delivery Centers and Client Service teams to ensure superior project management. Building strong internal relationships and collaborating effectively on cross-functional teams will be key to your success in this position.

Responsibilities

• Support a wide variety of projects involving the design, funding, and measurement of employer health and welfare benefit programs.
• Interface with client teams and contribute to analyses and client deliverables.
• Ensure quality standards are met in all deliverables.
• Develop working proficiency of core financial, actuarial, and analytics theories, models, and tools.
• Support accurate and reliable claim reporting and financial modeling to guide client decisions.
• Assist with financial modeling of benefit plan designs, cost avoidance strategies, and budget projections.
• Take responsibility for execution of specific tasks contributing to financial/actuarial deliverables for clients.
• Partner with Global Delivery Centers and Client Service teams to deliver superior project management.
• Build strong relationships internally and collaborate effectively on cross-functional teams.

Requirements

• Prefer internship and/or 1+ years' work experience in professional services, ideally in a benefit consulting/brokerage firm or health underwriting/actuarial function of an insurance company.
• Basic knowledge of some health and welfare products & services.
• Strong data management, math, and/or analytics capabilities.
• Ability to identify inconsistencies in data.
• Proven ability to manage multiple projects simultaneously.
• Strong client service orientation (internal and external).
• Ability to identify and resolve issues.
• Strong written and verbal communication skills.
• Self-starter attitude and ability to work independently and as part of a team.
• Excellent Microsoft Office skills, particularly in Excel and PowerPoint.
• State Life and Health license required within 90 days of joining.
• Relevant financial experience and/or university degree.

Nice-to-haves

• Progress towards completion of health actuarial designation or CEBS designation (optional).

Benefits

• Health and Welfare Benefits: Medical (including prescription coverage), Dental, Vision, Health Savings Account, Commuter Account, Health Care and Dependent Care Flexible Spending Accounts, Group Accident, Group Critical Illness, Life Insurance, AD&D, Group Legal, Identity Theft Protection, Wellbeing Program and Work/Life Resources (including Employee Assistance Program).
• Leave Benefits: Paid Holidays, Annual Paid Time Off, Short-Term Disability, Long-Term Disability, Other Leaves (e.g., Bereavement, FMLA, ADA, Jury Duty, Military Leave, and Parental and Adoption Leave).
• Retirement Benefits: Contributory Pension Plan and Savings Plan (401k).