Sr. Account Manager- People Solutions
Los Angeles, California, United States of America
Client Services
2401S6
Sr. Account Manager- People Solutions
Los Angeles, California, United States of America
Client Services
2401S6
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.
Business unit
West Series
Salary
$78,750-$105,000
Schedule
Full-time
Lockton Benefits Offerings
Click Here
Workplace
Hybrid
Your Responsibilities
POSITION OBJECTIVE
In collaboration with a client service team, prepare and deliver comprehensive financial reports for client health benefit plans. Analyze and leverage data to help clients manage health benefit plans with optimal financial efficiency.
ESSENTIAL DUTIES
1. Prepare routine financial reports for self-funded clients; review financial reports with clients.
2. Calculate loss projections, calculate and negotiate renewals, and set funding rates for self-funded clients.
3. 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.
4. Prepare spreadsheets, graphs, charts, diagrams, and other illustrative tools for presentations and reports.
5. Use financial modeler and other tools to predict financial impact of health reform on client plans.
6. Calculate IBNR reserve estimates for self-funded clients.
7. Participate with other department associates in program presentations to clients and prospects.
8. Understand and evaluate retiree medical and Medicare Part D liabilities.
9. Assist client team as required in evaluating stop loss RFP responses; negotiate contract terms and pricing with selected vendors.
10. Analyze and interpret client data warehouse information; identify cost or case management opportunities, and present recommendations to clients.
11. Prepare custom reports and analysis for specific client needs.
12. Maintain benchmarking data and leverage use of benchmarks across clients.
13. Serve as a Subject Matter Expert on underwriting and financial reporting, as well as stop loss contracts and vendors.
14. Leverage internal systems knowledge and utilization within the department and among clients.
15. Create new financial reporting templates; update computer databases to improve standard models used in analysis.
16. Calculate the allocation of insurance program costs to clients’ individual operating units.
17. Participate in the negotiation of insurance program terms and costs.
18. Keep informed of insurance industry developments and products available in the marketplace.
19. Make a positive contribution to customer satisfaction and constantly strive to improve service to the customer.
20. Communicate in a positive manner to contribute to a cohesive, pleasant work environment.
21. Protect the confidentiality of information learned by performing the duties of the position.
22. Comply with Lockton procedures and policies.
23. Responsible for regular and punctual attendance.
24. Attend company, department, and staff meetings as required.
25. Attend position related seminars/classes as required.
NONESSENTIAL DUTIES
Perform other work-related duties as assigned.
Qualifications
QUALIFICATIONS
1. Bachelor’s degree in a business-related program or equivalent education and/or experience, with an emphasis in math, statistics, or finance required.
2. Must have previous benefits insurance brokerage/consulting experience, and a minimum of five years’ industry experience.
2. Broad understanding of benefits underwriting guidelines gained through experience as an underwriter or other applicable experience, as well as familiarity with all lines of coverage.
3. Ability to compile, analyze, present, and interpret complex financial and statistical information to facilitate decision making and to understand and discuss the contents of corporate balance sheets and financial statements.
4. Willingness and ability to expand knowledge and effectiveness in the insurance industry by successful completion of extended insurance and/or other appropriate education, beyond the education requirements of licensing.
5. Personal presence to interface with senior leadership in client and prospect organizations, representing Lockton in the highest professional manner.
6. 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.
7. Must have above-average verbal, written, and interpersonal skills to interact with clients and colleagues at all levels of responsibility, along with the ability to communicate with tact and diplomacy.
8. Advanced skill in using computer application software for financial modeling, statistical analysis, spreadsheet calculations, word processing, and other database analyses.
#LI-SM3
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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