Entry Level Benefit Analyst

Entry Level

JOB SUMMARY:

This is an entry level position, reporting to the Manager, Benefit Analytics.  The Benefit Analyst is responsible for assisting Account Executives and Benefit Consultants with the analysis of client and prospect employee plan data.  This position functions as an analytics expert regarding benefit plan and premium cost spread sheeting.  The entry level Benefit Analyst is an active member of the PSA Key Accounts team and provides assistance on group clients with 51 to 250 employees.

ESSENTIAL FUNCTIONS:

With the assistance and guidance of Benefits Consultants and Account Executives, the Benefit Analyst will: 

  • Assist with Key Account market financial related projects and analyses, including:
    • Data gathering for Requests for Proposal (RFP’s) and other projects
    • Format and analyze census data to prepare RFP’s and evaluate employee demographics for proper coverage
    • Manage RFP/marketing process to request and analyze carrier benefit and cost proposals under Consultant’s direction to align with client marketing strategy
    • Spread sheet rates and benefit plan design options for renewal presentations
    • Prepare and analyze loss ratio reports and analyze claims and utilization data to identify trends and key drivers of claims
    • Develop claims projections in conjunction with renewal analyses
    • Prepare benefit plan benchmark reports and analyses
    • Develop and project client’s benefits budget as needed
    • Analyze contribution strategies to align with client’s budget
    • Prepare Healthcare Reform/ACA and other financial or claims analyses impacting the client’s benefits budget
  • Assist Consultant with preparing financial presentations for clients
  • Coordinate and complete peer reviews of all work to be presented to a client
  • Support the management of vendor relationships with marketing assistance and following up on vendor RFPs
  • Assist Benefits Consultants with new and renewal plan implementations, as needed
  • Support development of best practice templates and maintain updates as needed
  • Proactively identify issues requiring action and develop innovative solutions or raise awareness to Benefits Consultants and assist with solution development and implementation
  • Maintain data integrity of account and plan information in agency management system (Benefit Point)

QUALIFICATIONS:

  • Associate’s degree required; Bachelor’s degree in Actuarial, Risk Management, Mathematics, Statistics, or other related/ analytical degree or related discipline
  • Ability to analyze data and make appropriate recommendations
  • Demonstrated ability to independently organize and perform work activities and to simultaneously handle multiple complex projects
  • Strong computer skills, primarily with Excel, PowerPoint and Word
  • Demonstrated ability to communicate effectively, both verbally and in writing
  • Working knowledge of Employee Benefit plans and knowledge of benefit plans in general is a plus
  • License in Life and Health preferred (if not, the ability to obtain license within 3 months of hire date)
  • Knowledge of or experience with VBA, Sql, or Python is a plus.

PERSONAL ATTRIBUTES:

  • Problem-solver
  • Strategic thinker
  • Winning attitude – passionate
  • High energy, upbeat
  • Smart — intellectually curious
  • Strong mathematical, financial, and Excel acumen
  • Results oriented – make-it-happen sense of urgency
  • Ethical
  • Ability to think in multi-dimensional complex terms
  • Multi-tasking abilities
  • Organizational and time management skills
  • Ability to be “hands-on” and be tactical
  • Values relationships – a collaborator – team oriented
  • Ability to get into the details – involved in the business
  • Inspires trust
  • Listens and follows direction well
  • Ability to promote continuous improvement and drive efficiencies
  • Can be relied upon for consistent time and attendance