Actuarial Associate - Health & Benefits

Consulting Firm

Overview

Our client is seeking a motivated and analytically driven Actuarial Associate to join their Health & Benefits practice. This individual will support actuarial modeling, financial analysis, and strategic benefits consulting for employer group health plans. The role is ideal for someone progressing through actuarial exams with a strong interest in medical, pharmacy, and ancillary benefit plan design, pricing, and financial management.

Working closely with consultants, actuaries, and client teams, the Actuarial Associate will contribute to cost projections, renewal analyses, vendor evaluations, and data‑driven insights that inform client benefits strategy.

Key Responsibilities

Actuarial & Financial Analysis

• Conduct financial modeling and cost analyses for medical, pharmacy, dental, and other health plan offerings.
• Support development of annual budget projections, trend analysis, and contribution strategies.
• Prepare rate models, renewal calculations, and reserve analyses under actuary supervision.
• Assist in actuarial modeling for self‑insured and fully insured plans, including stop‑loss evaluations.

Data Management & Reporting

• Collect, validate, and analyze large data sets, including claims experience, enrollment files, and vendor reports.
• Develop client‑ready reporting materials summarizing cost drivers, utilization patterns, and plan performance.
• Ensure accuracy, integrity, and consistency of data across all deliverables.

Client Support & Consulting

• Collaborate with consulting teams to prepare presentations, strategy materials, and financial exhibits for clients.
• Participate in client discussions, renewal meetings, and vendor negotiations, as appropriate.
• Research legislative changes, market trends, and emerging cost‑management solutions.

Technical Skill Development

• Work with actuarial modeling tools, Excel‑based pricing models, and benefits financial software.
• Gain exposure to actuarial standards, methodologies, and health plan funding concepts.
• Support senior actuaries in developing new models, tools, and process improvements.

Collaboration & Project Support

• Coordinate with cross‑functional teams including pharmacy consultants, underwriting specialists, analysts, and benefits consultants.
• Assist with workflow management, timelines, and quality checks for client projects.
• Maintain strong documentation and adhere to internal review standards.

Required Qualifications

• Bachelor's degree in Actuarial Science, Mathematics, Statistics, Economics, or a related field.
• 0-3+ years of experience in health actuarial work (consulting firm, insurance carrier, or similar environment).
• Progress toward actuarial credentials (SOA), such as completion of 1-3 exams.
• Strong analytical and quantitative skills, including comfort with large data sets.
• Proficiency in Excel; familiarity with SQL, Python, or actuarial modeling tools is a plus.
• Strong communication skills with the ability to present complex concepts clearly.

Preferred Qualifications

• Prior experience supporting medical/Rx financial analyses or renewal processes.
• Knowledge of underwriting principles, healthcare regulations, or health plan design.
• Experience with self‑funded plan financials, stop‑loss analyses, or trend modeling.
• Exposure to consulting environments or client‑facing work.

Personal Attributes

• Curious, analytical, and eager to build actuarial expertise.
• Detail‑oriented with a strong commitment to accuracy.
• Strong organizational skills; ability to manage multiple deadlines.
• Collaborative team player with a proactive approach to problem‑solving.

What Our Client Offers

• Strong actuarial exam support and professional development resources.
• Opportunities to work with diverse clients and complex health plan strategies.
• A collaborative team environment with mentorship from senior actuaries.
• Competitive compensation and comprehensive benefits.
• Clear career progression within a growing consulting practice.