Senior Financial Consultant – Employee Benefits Data & Insights
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Job Description
Senior Financial Consultant at IMA providing strategic financial consulting for employee benefits. Leading data-driven insights and innovative financial strategies to improve client outcomes.
Responsibilities:
- Supports and demonstrates IMA’s core values
- Values and understands the importance of diversity, equity, and inclusion among all IMA associates
- Interacts professionally and timely with internal and external clients via email, phone and in-person
- Regularly identifies opportunities to ensure quality standards, including implementation of best practices and peer review standards
- Interacts with client executives and client managers to ensure work quality across all functions
- Participates in and leads national initiatives, including development of tools and templates, documentation, and best practices
- Assists with national and local office meetings, communicating information and updates
- Leads complex technical work and strategic financial consulting regarding employee benefit plans
- Communicates technical analysis to clients regarding cost projections, savings opportunities, and proper risk management
- Drives local process improvements and supports innovation
- Supports national initiatives to develop and maintain strategic underwriting and financial strategy tool development
- Utilizes actuarial modeling tools in support of client work across the local book of business
- Prepares and manages RFP for all self-funded TPA and stop loss submissions to market with Client Executive direction
- Collects, manages, and reviews proposals on self-funded TPA and stop loss marketing events
- Updates marketing results into spreadsheet ensuring accuracy to be used internally and in client presentation
- Initiates review of fully insured medical, and self-funded TPA and stop loss renewals, including plans, cost, contributions and contract terms
- Leads recommendations to client regarding renewal analysis
- Utilizes actuarial models to assess changes to risk and plan structure
- Negotiates with carriers based on client’s targeted goals
- Maintains ongoing relationships with carrier and vendor partners
- Provides analysis for benchmarking, contribution, disruption, network, stop loss deductible and GeoAccess analysis
- Provides and communicates underwriting cost projections for self-funded medical/Rx, dental, and vision products
- Develops and communicates self-funded IBNP analysis to client
- Assesses proper risk and funding structures such as fully insured vs. self-funded analysis, and presents findings to client to align with client goals
- Analyzes data for inconsistencies and trends
- Provides a written and oral summary of findings to Client Executive, and directs strategic considerations for managing cost
- Builds and customizes reports to fit client needs
- Prepares client presentations and presents in front of client as part of team with Client Executive, Client Manager, and various subject matter experts
- In all aspects of client relationships, mentors financial strategists to support associate growth and local expertise development in emerging markets
- Serves as a subject matter expert for specific financial strategy functions, and leads local process improvements
- Serves as experienced peer reviewer, ensuring standards of practice and work quality standards are met
Requirements:
- 8+ years of similar or related experience
- Prefer college graduate, 4-year degree or equivalent experience
- Proficiency with MS Office Suites
- Attains Life and Health license & maintains through continuing education requirements
- Limited travel required (less than 25%)
- Understands concepts of underwriting and actuarial computations
- Analyzes and interprets data
- Effectively manages multiple projects while meeting timelines
- Ability to be firm and persuasive when needed, while maintaining good relationships
- Handles confidential information with tact and discretion
Benefits:
- Annual Performance Bonus
- Stock Purchase
- Medical Plans
- Prescription Drugs
- Dental
- Vision
- Family Assistance Program
- FSA
- HSA
- Pre-Tax Parking Plan
- 401(k)
- Life/AD&D
- Accident
- Critical Illness
- Hospital Indemnity
- Long Term Care
- Short-term Disability
- Long-term Disability
- Business Travel Accident
- Identity Theft
- Paid Time Off
- Flexible Work Options
- Paid Holidays
- Sabbatical
- Gift Matching
- Well-Being Stipend
- Personal and Professional Development
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