Health Benefits Consultant / Underwriter - Arlington, VA

Watson Wyatt is a global consulting firm focused on human capital and financial management. We specialize in four areas: employee benefits, human capital strategies, technology solutions and insurance and financial services.

We combine human capital and financial expertise to deliver business solutions that drive shareholder value.

Watson Wyatt has approximately 6,000 associates in 30 countries. Our presence is not just far reaching - it is also the deepest in the business.

We recognize the value of diversity in our workforce, and encourage all qualified candidates to apply. We thank all candidates who choose to apply, however, only those selected for a further interview will be contacted.
Job Posting ID: 2510

Position: Health Benefits Consultant / Underwriter - Arlington, VA

Physical Location: Washington, DC

Employment Status: Regular Full-Time

Minimum Experience Required: 7 years

Minimum Education Required: Bachelors Degree

Qualifications

Successful candidates will have a Bachelor's degree in Business, Actuarial Science, Math, Statistics, Accounting, or Finance. Master's degree in a related field is preferred.
Must have 5-7+ years experience in group and health care plan design, funding, and/or administration. Background may encompass either consulting, health plan provider organizations, or corporate environment.
Candidates will have demonstrated competency and experience in the following areas:
Solving difficult client problems in a complex environment
Generating creative and innovative solutions
Effectively managing relationships with client personnel and successfully negotiating project issues.
Presenting project proposals and deliverables to client management
Pro-actively teaching and mentoring others
Strong financial analysis skills and underwriting experience is required.
Multi-employer experience is a plus.

Position Overview
Supports major Group & Health Care (GHC) projects and business development initiatives. Successful candidates will be asked to independently plan and execute projects arising from client needs related to health care and other group benefit programs; ensure clear and precise understanding of the client needs; develop project plans with accurate estimates of the time and fees required for completion; Manage client expectations regarding project timing and fee estimates; and manage projects in accordance with quality standards, estimated timeframes, and fee estimates.

Responsibilities

Technical Areas


Health care claims analysis, including prescription drug and dental plans
Financial modeling
Setting credits and pricetags for flexible benefit plans
Negotiating rates with current health care or other group benefit vendors
Entire bidding process for health care or other group benefit programs
Negotiations with HMOs or other managed care vendors
Assessing and responding to legal or compliance issues related t health care or other group benefit programs
Setting health care claims rates for COBRA or FAS 106 purposes
Provide data analysis support and interpretation of findings
Develop illustrative premium rates
Calculate cost-impact of plan changes
Perform special analytical projects as assigned
Manipulation and summarization of Excel spreadsheet data files
Research group and health care issues
Review and analyze health and welfare vendor renewals
Develop bid specifications and analyze vendor bid responses for health care or other group benefit programs (i.e., life, disability, etc.)
Build knowledge of health and welfare vendors and legislative and regulatory environment and keep knowledge current as market changes


Client and Project Management


Manage projects in accordance with quality standards, estimated timeframes, and fee estimates. Understand what constitutes a “change in scope” requiring revised fee estimates; alert appropriate parties, whether another associate or the client, immediately.
Communicate regularly with project team


Leadership and Teamwork

Participate as a cooperative, proactive team member in projects involving other associates throughout the practice and area.
Mentor and coach less experienced associates at every opportunity
Accept mentoring, coaching, and other developmental feedback from associates within and outside the practice
Share information freely and pro-actively. Keep other associates apprised of current information, and ensure all relevant information is captured in client files
Help develop standardized work processes within the practice which improve quality and profitability

REQUIREMENTS
Please see Job Description