Healthcare Vertical Actuarial Lead

Your Responsibilities

The Healthcare Industry Vertical Actuarial Lead is responsible for overall development, delivery and related consulting on health and welfare financial work for healthcare-related organizations. The initial focus is on hospitals and health systems with additional segments including but not limited to specialty practices, integrated delivery systems, and third-party healthcare solution providers. This leadership role will be part of Lockton’s newly, formalized Healthcare Practice spanning the Dunning, Founders, and Midwest Series. The individual 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.

Essential Duties:

• Lead actuary on healthcare industry client teams including setting strategy, project management of financial deliverables and peer review/certification of results
• Financial analysis for employer group health plans including ongoing claim reporting, rate setting, contribution development and plan design modeling
• Leverage 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 needs associated with healthcare industry clients
• Evaluate benefits utilization and claims data to assist clients in developing cost management and health risk management strategies
• Calculate health plan reserve estimates and provide actuarial certifications for both healthcare-related organizations and other industry employers leveraging network and claim payment pattern expertise
• Participate in client and prospect presentations, leading financial-related discussions
• Assist service teams with development and evaluation of carrier RFPs for all coverage lines, including modeling of network changes and payment alternatives
• Build and lead team of additional financial/actuarial associates within Healthcare Practice, supporting the overall growth and expansion of the Practice
• Seek and provide peer review to ensure high quality client deliverables
• Ensure consistency of financial deliverables across Series, facilitating consistent Lockton brand and enabling strong vendor partnerships
• Keep informed of insurance industry developments and products available in the marketplace
  
  

Qualifications

• Bachelor's degree required (major in Actuarial Science, Mathematics, Statistics, or related field preferred). ASA or FSA designation required
• 8-10 years of experience, with a minimum of 4 years post-credential consulting experience in group health benefits at a brokerage/consulting firm or insurance carrier
• Experience leading health financial analysis and consulting for employer groups exceeding 5,000 lives
• Familiarity with features of healthcare system health plans, including domestic tiering, claims repricing, custom networks, and direct contracting
• Must have the ability to compile, analyze, present, and interpret financial and statistical information to facilitate decision making
• Knowledge of and experience with all aspects of the healthcare marketplace including plan design, pricing, reserving, benchmarking, and financial management/analysis
• Personal presence to interface with senior leadership in client and prospect organizations, representing Lockton in the highest professional manner
• Organizational and time management skills to prioritize workloads to meet time sensitive deadlines required. Must be results-oriented with the ability to change priorities as needed
• Excellent 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 others
• Advanced knowledge of Microsoft Products; skill in using computer application software for financial modeling, statistical analysis, and other database analyses
• Excellent quantitative, analytical, and problem-solving skills
• Ability to travel as needed
  
  

Compensation And Benefits

Lockton Companies LLC is committed to offering competitive pay and benefits and complies with all relevant state/local pay transparency laws. The entry base salary offered for this opportunity may vary, and is contingent upon candidate education, skills, abilities, essential competencies, experience, professional designations, unique qualifications, and geographic location.

Performance Bonus: This role may be eligible for an annual performance bonus, based upon the financial performance of the organization and the individual contributions of the Associate.

Check out Lockton Benefits Offerings Here