Willis Towers Watson

Health and Benefits Financial and Placement Analyst

Posted on Jun 15 Scottsdale, AZ 105 views

Our Health and Benefits business helps large and mid-size clients control soaring health and welfare plan costs, improve health outcomes and promote employee engagement through broad-based, state-of-the-art interventions. We provide solutions encompassing creative plan design, vendor evaluation and management, pricing and funding strategies, data analytics, valuation support, legal compliance and governance strategies. We also provide Specialty consulting services including clinical/health management program design, pharmacy solutions, disability/absence management strategies and claims audit services. Product based solutions such as our pharmacy purchasing coalition round out our broad-based suite of offerings.

The Role



Financial Analyst/Placement Specialists work beside some of the industry’s top consultants while progressing toward future thought leadership. You will have immediate exposure to real client assignments which will draw on your imagination and creativity as well as your ability to analyze data, draw conclusions and present results. These experiences will help build your technical knowledge and overall industry expertise.

You will partner with consultants to provide support on projects through:


  • Performing financial analyses, including developing pricing, creating employee contribution strategies, modeling plan design alternatives, and calculating reserves

  • Analyzing and comparing vendor products, services, and contracts

  • Responsibilities:

  • Work with clients, carriers, vendors and service team to manage the time-line for marketing projects and annual renewals

  • Review marketing results to ensure consistency with requested proposals and modify if needed

  • Negotiate renewals with carriers and vendors

  • Contribute to client deliverables; including spreadsheets and presentations reflecting results and options

  • Prepare competitive benchmarking analysis of benefit plan designs

  • Assist with special projects as needed

  • Increase efficiency within client teams by identifying ways to improve processes

  • Build relationships internally and collaborate effectively on cross-functional teams

  • Comply with Willis Towers Watson Excellence Management (WEM) program



Further, you will manage entire marketing process for core lines of business: Medical, Dental, Vision, Life, Disability, and Stop Loss which includes, but are not limited to the following action items:


  • Bid/request for proposal preparation

  • Request proposals from client-approved carriers

  • Handle all follow-up questions, requests with the carriers

  • Bid/request for proposal analysis

  • Summation of findings and recommendations to incorporation within client presentations

  • Understanding of, and ability to, effectively articulate carrier specific strengths and weaknesses

  • Understand client’s needs and can identify products and services to support needs

  • Manage carrier placement negotiations for a certain client market segment and assist with negotiations for larger, more complex clients

  • Understand and can articulate high level recommendations on cost controls measures and potential impacts

  • Award business to chosen carrier and provide declination communications to those carriers not selected

  • Recognize and support execution of client financial strategy

  • Support communication efforts to clients (stewardship meetings, etc.) relative to placement

  • Maintain and cultivate strong carrier relationships to enhance Willis Towers Watson’s position in the market place

  • Understand and can articulate to clients the Willis Towers Watson Value Proposition and H&B Products and Services in order to support new business

  • Comply with internal compliance and auditing requirements, including the preparation of the Compensation Disclosure for lines of coverage sought and received

  • Develop technical expertise:

    • Acquire on-the-job knowledge of industry concepts and approaches to Health & Benefits

    • Develop an awareness of the insurance carrier and vendor marketplace, and build relationships with carrier partners

    • Attend seminars, meetings and/other educational events to increase understanding of trends, regulations and developments in the market

    • Receive training from experienced consultants and assist to review client needs





Size & Complexity of Clients:




  • Fully-insured and self-insured clients

  • Multi-state

  • Typical size: 100 to 5,000 employees



The Requirements




  • 1 - 5 years of financial/analytical work related to group insurance and/or employee benefits programs required; group health underwriting experience strongly preferred

  • Bachelor’s degree required, preferably in mathematics, economics, statistics, finance, insurance, public health, health management or any major with significant quantitative course work

  • State Life and Health license required within 90 days of employment

  • Work experience that demonstrates strong technical and/or client service skills (analyst type of internship preferred)

  • Passion for solving problems and sharing solutions to exceed the standards of the client

  • Ability to be a self-starter and work independently, but also cooperatively in a close team environment

  • Excellent oral and written communication skills

  • Advanced Microsoft Office skills, particularly in Excel

  • Availability to travel on an as needed basis



Compensation and benefits information for this position is being included in accordance with requirements of the Colorado Equal Pay for Equal Work Act. Please note that the salary range listed relate specifically to roles located in Colorado and that salary ranges for similar positions located in other Willis Towers Watson locations may vary. In addition, salaries may vary for different individuals in the same role based on several factors, including but not limited to individual competencies, education/professional certifications, experience and performance in the role.

Compensation



The salary compensation range being offered for this role is $70,000 to $75,000 annually. This role is also eligible for an annual short-term incentive bonus.

Company Benefits



Willis Towers Watson provides a competitive benefit package which includes the following (eligibility requirements apply):

Health and Welfare Benefits: Medical (including prescription coverage), Dental, Vision, Health Savings Account, Commuter Account, Health Care and Dependent Care Flexible Spending Accounts, Group Accident, Group Critical Illness, Life Insurance, AD&D, Group Legal, Identify Theft Protection, Wellbeing Program and Work/Life Resources (including Employee Assistance Program)

Leave Benefits: Paid holidays, annual Paid Time Off (includes paid state /local paid leave where required), Short-term Disability, Long-term Disability, Other leaves (e.g., Bereavement, FMLA, ADA, Jury Duty, Military Leave, and Parental and Adoption leave)

Retirement Benefits: Contributory pension plan and Savings Plan (401k). Certain senior level roles may also be eligible for non-qualified Deferred Compensation and Deferred Savings Plans.

EEOE, including disability/vets

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