Associate Vice President - Financial Benefits Analysis

Description:

Job Summary:

The Associate Vice President (AVP), Financial Benefits Analysis will be a key contributor to the Actuarial and Finance functions by applying quantitative analysis and Financial modeling techniques to assess and manage financial risks.

The AVP works directly with Financial Benefits and Underwriting teams and manages complex financial deliverables such as IBNR estimation, Forecasting, and Contribution Modelling, while providing direct support to account and client teams. This role plays a critical part in interpreting data, developing strategic recommendations, and ensuring alignment with client objectives. Solid understanding of US health insurance concepts , as well as strong domain expertise, statistical modeling skills, and the ability to work autonomously are essential.

Key Responsibilities:

- Lead the preparation and presentation of various financial monitoring reports like client financial status, expense tracking by product line, renewal projections, funding levels etc by the team in a timely manner with prescribed accuracy

- Communicate effectively with Onsite Financial Benefits Consulting (FBC) management regarding any anomalies identified in financial evaluations.

- Maintain proficiency in proprietary models and tools to accurately calculate financial results.

- Analyse complex client data from carriers and provide actionable recommendations to Client Servicing teams.

- Prepare and analyse various client deliverables as defined by the Financial Benefits Consulting team's scope of services.

- Assist in preparing financial impact assessments of changes in underwriting strategy, model changes, and regulatory requirements.

- Demonstrate critical thinking by assessing whether analyses are logical and coherent.

2. Reporting and Communication:

- Develop clear, concise, and professional reports and presentations that translate complex financial analyses into digestible insights for senior management, Financial Benefits Consultants, Actuaries, Underwriters, and other business partners.

- Present results of analyses and recommendations to internal committees and potentially external stakeholders (e.g., Clients, Insurers, Auditors).

- Spearhead the development and maintenance of automated tools and reports to improve the efficiency and accuracy of cat modeling and financial analysis processes.

3. Leadership and Mentorship:

- Serve as a subject matter expert on FBA methodologies, financial risk quantification, and their application within the company.

- Mentor and guide junior analysts on technical skills, model best practices, and financial reporting standards.

- Lead project-based initiatives focused on enhancing risk analytics capabilities and process improvement.

Qualifications:

Bachelors or masters degree in a quantitative field such as Actuarial Science, Finance, Mathematics, Statistics, Economics, or Engineering.

Experience:

- 10+ years of experience in the Health Insurance or Insurance broking industry, with a strong focus on Financial Benefits and Actuarial Analysis.

- Experience collaborating with Actuarial and Underwriting teams in a financial support capacity.

Skills and Competencies:

- Experience in US Health Insurance or Group Insurance or Indian Health Insurance.

- In-depth knowledge of Employee Benefits, or Health Insurance concepts, and terminology.

- Good knowledge of R (Statistical Analysis) / Applied Statistics (advanced level)

- Exceptional analytical, critical thinking, and problem-solving skills with a solid understanding of probability and statistics.

- Proficiency in data manipulation and query languages (e.g., SQL, Python, Power BI) to process and analyse large datasets.

- Advanced skills in Microsoft Excel and PowerPoint for modeling, analysis, and presentation.

- Excellent written and verbal communication skills, with the ability to effectively explain technical concepts to non-technical audiences.

- Proven ability to manage multiple projects simultaneously and meet tight deadlines.

- Relevant professional designation or progress toward an actuarial designation (e.g., ACAS, FCAS) or finance/risk certification (e.g., CFA, FRM) is a plus.