Lockton Companies
Healthcare Actuary
Lockton Companies, Chicago, Illinois, United States, 60290
At Lockton, we’re passionate about helping our people achieve their ultimate potential. Our people are curious, action-oriented and always striving to make ourselves and those around us better. We’re active listeners working to ensure understanding and problem solvers developing innovative solutions. If you can see yourself delivering excellent service to clients, giving back to our communities and being a part of our caring culture,
you belong here.About the Position
Lockton is a global professional services firm with 6,500 Associates who advise clients on protecting their people, property and reputations. Lockton has grown to become the world's largest privately held, independent insurance broker by helping clients achieve their business objectives.A few of the reasons Associates love working at Lockton include:Opportunities for growth and advancement, including paid training and professional development12-week paid parental leaveA huge emphasis on community involvementFrequent athletic and wellness eventsIncredibly generous rewards; US Associates receive a Rolex for their 10 year anniversary!Business unit
Midwest SeriesSchedule
Full-timeJob type
StandardWorkplace
HybridYour Responsibilities
The Healthcare Actuary leads development, delivery and related consulting on health and welfare financial work for employer clients in Lockton’s Midwest Series. They will leverage and analyze data in collaboration with other financial and client service team members to prepare and deliver comprehensive financial reporting and insights for clients related to their health benefit plans. The ideal candidate will demonstrate a high level of professionalism, possess the ability to work well in a fast-paced environment and the flexibility to easily adapt to changing priorities.Lead actuary on client teams including setting strategy, project management of financial deliverables and peer review/certification of resultsFinancial analysis for employer group health plans including ongoing claim reporting, rate setting, contribution development and plan design modelingLeverage existing or develop basic and complex models to assist in analysis and illustration of client health plan financial patterns and outcomes. As needed, prepare custom reports and analysis for specific client needs.Evaluate benefits utilization and claims data to assist clients in developing cost management and health risk management strategiesCalculate health plan reserve estimates and provide actuarial certificationsParticipate in client and prospect presentations, leading financial-related discussionsAssist service teams with development and evaluation of carrier RFPs for all coverage lines, including modeling of network changes and payment alternativesMentor and delegate work to junior associatesSeek and provide peer review to ensure high quality client deliverablesKeep informed of insurance industry developments and products available in the marketplaceQualifications
Bachelor's degree required (major in Actuarial Science, Mathematics, Statistics, or related field preferred). ASA or FSA designation required8-10+ years of experience, with a minimum of 4 years post-credential consulting experience in group health benefits at a brokerage/consulting firm or insurance carrierExperience leading health financial consulting for employer groups exceeding 5,000+ livesMust have the ability to compile, analyze, present, and interpret financial and statistical information to facilitate decision makingKnowledge of and experience with all aspects of the healthcare marketplace including plan design, pricing, reserving, benchmarking, and financial management/analysisPersonal presence to interface with senior leadership in client and prospect organizations, representing Lockton in the highest professional mannerOrganizational and time management skills to prioritize workloads to meet time sensitive deadlines required. Must be results-oriented with the ability to change priorities as neededExcellent verbal, written, and interpersonal skills to interact with clients and colleagues at all levels of responsibility, along with the ability to skillfully communicate clear direction and incorporate the ideas of othersAdvanced knowledge of Microsoft Products (Excel, Access); skill in using computer application software for financial modeling, statistical analysis, and other database analysesExcellent quantitative, analytical, and problem-solving skillsAbility to travel as neededEqual Opportunity Statement
Lockton Companies is proud to provide everyone an equal opportunity to grow and advance. We are committed to an inclusive culture and environment where our people, clients and communities are treated with respect and dignity.At Lockton, supporting diversity, equity and inclusion is ingrained in our values, and we believe that we are at our best when we fully embrace everyone. We strive to cultivate a caring culture that learns from, celebrates and thrives because of our breadth of differences.About Lockton
Lockton is the largest privately held independent insurance brokerage in the world. Since 1966, our independence has allowed us to serve our clients, take care of our people and give back to our communities. As such, our 10,000+ Associates doing business in over 100 countries are empowered to do what’s right every day.At Lockton, we believe in the power of all people. You belong at Lockton.How We Will Support You
At Lockton, we empower you to be true to yourself in all that you do. Your success is our success, and we provide opportunities to help you grow and create a rewarding career path, however you envision it.We are ready to meet you where you are today, and as your needs change over time. In addition to industry-leading health insurance, we offer additional options to support your overall health and wellbeing.
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you belong here.About the Position
Lockton is a global professional services firm with 6,500 Associates who advise clients on protecting their people, property and reputations. Lockton has grown to become the world's largest privately held, independent insurance broker by helping clients achieve their business objectives.A few of the reasons Associates love working at Lockton include:Opportunities for growth and advancement, including paid training and professional development12-week paid parental leaveA huge emphasis on community involvementFrequent athletic and wellness eventsIncredibly generous rewards; US Associates receive a Rolex for their 10 year anniversary!Business unit
Midwest SeriesSchedule
Full-timeJob type
StandardWorkplace
HybridYour Responsibilities
The Healthcare Actuary leads development, delivery and related consulting on health and welfare financial work for employer clients in Lockton’s Midwest Series. They will leverage and analyze data in collaboration with other financial and client service team members to prepare and deliver comprehensive financial reporting and insights for clients related to their health benefit plans. The ideal candidate will demonstrate a high level of professionalism, possess the ability to work well in a fast-paced environment and the flexibility to easily adapt to changing priorities.Lead actuary on client teams including setting strategy, project management of financial deliverables and peer review/certification of resultsFinancial analysis for employer group health plans including ongoing claim reporting, rate setting, contribution development and plan design modelingLeverage existing or develop basic and complex models to assist in analysis and illustration of client health plan financial patterns and outcomes. As needed, prepare custom reports and analysis for specific client needs.Evaluate benefits utilization and claims data to assist clients in developing cost management and health risk management strategiesCalculate health plan reserve estimates and provide actuarial certificationsParticipate in client and prospect presentations, leading financial-related discussionsAssist service teams with development and evaluation of carrier RFPs for all coverage lines, including modeling of network changes and payment alternativesMentor and delegate work to junior associatesSeek and provide peer review to ensure high quality client deliverablesKeep informed of insurance industry developments and products available in the marketplaceQualifications
Bachelor's degree required (major in Actuarial Science, Mathematics, Statistics, or related field preferred). ASA or FSA designation required8-10+ years of experience, with a minimum of 4 years post-credential consulting experience in group health benefits at a brokerage/consulting firm or insurance carrierExperience leading health financial consulting for employer groups exceeding 5,000+ livesMust have the ability to compile, analyze, present, and interpret financial and statistical information to facilitate decision makingKnowledge of and experience with all aspects of the healthcare marketplace including plan design, pricing, reserving, benchmarking, and financial management/analysisPersonal presence to interface with senior leadership in client and prospect organizations, representing Lockton in the highest professional mannerOrganizational and time management skills to prioritize workloads to meet time sensitive deadlines required. Must be results-oriented with the ability to change priorities as neededExcellent verbal, written, and interpersonal skills to interact with clients and colleagues at all levels of responsibility, along with the ability to skillfully communicate clear direction and incorporate the ideas of othersAdvanced knowledge of Microsoft Products (Excel, Access); skill in using computer application software for financial modeling, statistical analysis, and other database analysesExcellent quantitative, analytical, and problem-solving skillsAbility to travel as neededEqual Opportunity Statement
Lockton Companies is proud to provide everyone an equal opportunity to grow and advance. We are committed to an inclusive culture and environment where our people, clients and communities are treated with respect and dignity.At Lockton, supporting diversity, equity and inclusion is ingrained in our values, and we believe that we are at our best when we fully embrace everyone. We strive to cultivate a caring culture that learns from, celebrates and thrives because of our breadth of differences.About Lockton
Lockton is the largest privately held independent insurance brokerage in the world. Since 1966, our independence has allowed us to serve our clients, take care of our people and give back to our communities. As such, our 10,000+ Associates doing business in over 100 countries are empowered to do what’s right every day.At Lockton, we believe in the power of all people. You belong at Lockton.How We Will Support You
At Lockton, we empower you to be true to yourself in all that you do. Your success is our success, and we provide opportunities to help you grow and create a rewarding career path, however you envision it.We are ready to meet you where you are today, and as your needs change over time. In addition to industry-leading health insurance, we offer additional options to support your overall health and wellbeing.
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