Sr. Financial (Underwriting) Analyst
Chicago, United States of America
Client Services
2300RQ
Sr. Financial (Underwriting) Analyst
Chicago, United States of America
Client Services
2300RQ
Working at Lockton
At Lockton, we’re passionate about helping our people achieve their ultimate potential. Our people are curious, action-oriented and always striving to make ourselves and those around us better. We’re active listeners working to ensure understanding and problem solvers developing innovative solutions. If you can see yourself delivering excellent service to clients, giving back to our communities and being a part of our caring culture, you belong here.
St. Louis, Cleveland
Business unit
Midwest Series
Schedule
Full-time
Job type
Standard
Workplace
Hybrid
Your Responsibilities
- Develop and support comprehensive renewal projections, utilization reviews and benchmarking, plan design modeling and strategies, and overall benefit plan strategies.
- Work with clients in creating client-specific structures for monthly and quarterly financial reports.
- Develop comprehensive health insurance underwriting knowledge including strategic approaches to health care cost management.
- Learn how to use and apply all internal underwriting and data analysis tools.
- Review fully insured and self-funded quotes, and with renewal projections, both midyear and year-end, for self-funded groups.
- Assist client teams with RFP development and proposal evaluation for fully insured and self-funded groups.
- Understand the products and services of major health insurance plans, third party administrators, stop-loss carriers, and other vendors.
- Develop basic knowledge of non-medical lines of coverage, e.g., life, disability, dental, vision, long-term care, etc.
- Provide client support in meetings when needed.
- Use creativity to develop new financial services and tools for all Lockton clients and unique solutions for individual clients.
- Develop knowledge of InfoLock data warehousing product; complete and assist with presenting summary reports to clients.
- Integrate data from multiple data sources into relevant client reports.
- Develop or use industry formulas to create basic and complex models to analyze, illustrate, or project loss trends; complete feasibility studies, financial models, and pricing models; evaluate benefits utilization and claims data to assist clients in developing cost management and health risk management strategies.
- Prepare custom reports and analysis for specific client needs.
- Maintain market data and leverage use of benchmarks across clients.
- Serve as a Subject Matter Expert on financial reporting.
- Leverage internal systems knowledge and utilization within the department and among clients.
- Work collaboratively with client service teams to collect and review data for accuracy and consistency.
- Other responsibilities as assigned.
Qualifications
- Bachelor’s degree in a business-related program with an emphasis in math, statistics, or finance required with 3 to 5 years of experience in the health insurance underwriting, brokerage or consulting arena.
- Must have the ability to compile, analyze, present, and interpret financial and statistical information to facilitate decision making.
- High skill in using computer application software for financial modeling, statistical analysis, and spreadsheet calculations required.
- 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.
- Must have above-average verbal, written, and interpersonal skills to interact with associates at all levels of responsibility, and with Lockton clients and prospects, with tact and diplomacy.
- Willingness and ability to expand knowledge and effectiveness in the benefits industry by successful completion of benefits-related courses required.
- Must have the ability to work independently under the supervision or guidance of others.
Equal Opportunity Statement
Lockton Companies is proud to provide everyone an equal opportunity to grow and advance. We are committed to an inclusive culture and environment where our people, clients and communities are treated with respect and dignity.
At Lockton, supporting diversity, equity and inclusion is ingrained in our values, and we believe that we are at our best when we fully embrace everyone. We strive to cultivate a caring culture that learns from, celebrates and thrives because of our breadth of differences. As such, we recognize that recruiting, developing and retaining people with diverse backgrounds and experiences is vital and enabling our people to thrive personally and professionally is critical to our long-term success.
About Lockton
Lockton is the largest privately held independent insurance brokerage in the world. Since 1966, our independence has allowed us to serve our clients, take care of our people and give back to our communities. As such, our 10,000+ Associates doing business in over 100 countries are empowered to do what’s right every day.
At Lockton, we believe in the power of all people. You belong at Lockton.
How We Will Support You
At Lockton, we empower you to be true to yourself in all that you do. Your success is our success, and we provide opportunities to help you grow and create a rewarding career path, however you envision it.
We are ready to meet you where you are today, and as your needs change over time. In addition to industry-leading health insurance, we offer additional options to support your overall health and wellbeing.
No Agencies Please
Any Employment Agency, person or entity that submits an unsolicited resume to this site does so with the understanding that the applicant's resume will become the property of Lockton Companies, Inc. Lockton Companies will have the right to hire that applicant at its discretion and without any fee owed to the submitting Employment Agency, person or entity. Employment Agencies, who have fee Agreements with Lockton Companies must submit applicants to the designated Lockton Companies Employment Coordinator to be eligible for placement fees.
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