Actuarial Analyst
Lockton · Chicago, IL · 6 days ago
Finance$65k–$95k/yrVolunteer
Your Responsibilities
- Work collaboratively with client service and actuarial/financial teams to collect, validate, and reconcile data for accuracy and consistency.
- Integrate data from multiple sources into actuarial and financial client reports and deliverables.
- Prepare routine financial and actuarial reports for self‑funded clients including ongoing claim reporting, rate setting, contribution development and plan design modeling; partner with client service teams to review findings and trends.
- Aid in the delivery of comprehensive financial reporting and insights to clients related to their health benefit plans.
- Build and maintain basic to moderately complex actuarial models to analyze, illustrate, and project medical/Rx loss trends and client plan performance.
- Create spreadsheets, graphs, charts, and other visualization tools to clearly communicate healthcare-related insights to clients.
- Utilize actuarial and financial modeling tools to estimate the potential impact of health plan design changes, regulatory changes, and health reform on client costs.
- Support the development of health plan reserve estimates for self-funded clients.
- Generate custom analytics and reporting for unique client requests, leveraging actuarial and benchmark data where appropriate.
- Develop into a subject matter expert on financial and actuarial reporting, building expertise over time.
- Learn and apply internal systems, tools, and modeling platforms to improve efficiency and analytical accuracy.
- Stay current on insurance/benefits industry developments, emerging trends, and actuarial best practices.
- Contribute to a positive client experience through accuracy, responsiveness, and clear communication.
- Participate in internal team meetings and trainings, including actuarial skill development sessions.
- Perform other responsibilities as assigned.
Qualifications
- Bachelor’s degree in actuarial science, mathematics, statistics, finance, economics, or related quantitative field.
- 2+ years of health benefits experience at a brokerage/consulting firm or insurance carrier preferred.
- Completion of actuarial exams preferred; candidates with 2 or more exams encouraged to apply.
- Strong analytical and quantitative skills with an interest in actuarial career progression (including pursuit of at least ASA designation).
- Excellent communication and customer service skills with the ability to support multiple client team relationships.
- Working knowledge of employee benefits, health insurance, and/or risk concepts preferred (job, school coursework and internship experience all accepted).
- Strong computer skills, including proficiency in Microsoft suite, especially Excel (pivot tables, formulas, data manipulation); experience with VBA, SQL, Python, or similar programming language is a plus.
- Excellent organizational skills and attention to detail.
- Legal right to work in the United States.