Plan Design Analyst (Insurance/Benefits)

ABOUT US:
Clark Consulting's mission is to develop and deliver services and
solutions to help companies keep their best people. We do this in four
practice areas: Banking, Healthcare, Corporate, and Federal Policy.

Clark Consulting provides integrated
compensation, benefits and organizational development solutions to over
4,500 U.S. corporations, banks, and healthcare organizations. Clark
Consulting is the largest public company (NYSE: CLK) of its kind.

PRIMARY RESPONSIBILITIES

Produce numerical charts demonstrating how a life insurance product is used to finance a non-qualified benefit plan for a prospective client
company.

Coordinate closely with sales force to maximize product features in order to meet client expectations.

Conduct detailed analysis of client‘s target population and objectives as well as insurance product characteristics and tax implications to
develop spreadsheet illustrations of possible outcomes.

Participate in transition of the finished product from the Design & Analysis
department’s sales tool to a practical administrative tool for use by
other departments
REQUIREMENTS
EDUCATION:
Bachelor’s degree in Business, Finance, Economics, Accounting, Math, or relevant experience.

EXPERIENCE:
Experience in life insurance, employee benefits plans, or financial modeling

MINIMUM REQUIREMENTS:
• Hold or be able to obtain within six months of hire: 1) Group I insurance license and 2) NASD Series 6 or 7 & 63.

• Advanced proficiency in the use of Excel spreadsheets and other financial tools.

• Knowledge of other financial instruments, net present values and internal rates of return calculations.

• Proficient skill using computer applications such as Word and Outlook.

SUMMARY/GOAL OF THE POSITION:
TO DESIGN NON-QUALIFIED BENEFIT PLANS AND DETERMINE THE APPROPRIATE LIFE INSURANCE FINANCING SOLUTION FOR BANKS, INSURANCE COMPANIES, AND OTHER PUBLICLY OR PRIVATELY HELD CORPORATIONS.

MAJOR ACCOUNTABILITIES:
I. Financial Analysis
• Acquire a working knowledge of how and why life insurance is used to fund specific obligations such as NQDCP, SERPs, 162 Bonus, DBO, Split Dollar and broad based obligations.

• Proficient in preparing numerical representations such as cash flow, P&L and Balance sheets depicting the effect of different funding strategies (unfunded vs. funded with life insurance or TIC).

• The ability to understand and interpret measurements such as IRR and NPV in evaluating funding options of an unfunded and funded plan.
• Accurately incorporate plan assumptions into the plan design.
• With assistance, create the most efficient funding strategy for the client given a census and plan parameters.
• Accountable for accuracy of work.

II. Insurance Carrier & Product Knowledge
•Ability to use proprietary and multiple carrier illustration systems.
• Have a basic understanding of 7702A concepts (i.e. face reductions, maximum premiums, material change, etc.).
• Have a basic understanding of the implications of 1035 exchanges (i.e. insurable interest, etc).
• Have a basic understanding and the ability to interpret the elements of a life insurance product (i.e. sales loads, COI’s, CSV enhancement, M&E, etc).
• Coordinate with carriers to obtain needed information for accurate Marketing and Inforce illustrations.
• Maintain carrier’s life insurance product data.
• Understand the tax, accounting, and regulatory impacts on benefit plan design and insurance products.

III. Marketing and Consultant Support
• With assistance, coordinate with Consultant to develop client in-force or prospective client illustration that represents most effective solution for client need.
• Deliver agreed upon Marketing Package/Reports in a timely manner while balancing multiple priorities and deadlines.

BEHAVIORAL COMPETENCIES:
I. Communication
• Effectively expresses ideas, conveys/seeks information, exchanges points of view, or negotiates resolutions in interactions with Clark Consulting employees, outside resources, vendors, and clients.
• Displays appropriate professional presentation in personal attire and manner. Conducts effective, productive, and respectful work relationships in all business interactions.

II. Targets
• Proactively takes ownership & initiative to accomplish tasks, follows through & follows up, understands when & how to involve others. Honors commitments to perform work, and accepts responsibility for outcomes & results.
• Manipulates multiple ideas, data, & tasks in order to set priorities, plan ahead, meet deadlines, anticipate variables, and to achieve optimum results.
• Pays careful attention to details & to work accuracy. Uses logic & reasoning to accomplish tasks, analyze problems & solutions, assess risks, and to reach sound conclusions.
• Values punctuality, attendance, & the worth of Company time. Communicates planned & unplanned absences in accordance with company procedure.

III. Teamwork
• Ability to work in a team environment. Treat all associates and clients with respect
• Support department goals and objectives.
• Contribute to team performance by taking the initiative to share ideas and knowledge base with other team members and associates.
• Maintains a positive attitude toward work and readily assimilates changes.
It is within the scope of the Company’s hiring authorities to determine
the acceptable proficiency of “equivalency” or “in lieu of” levels in
the above Minimum Qualifications as related to the above specified
education and experience requirements.


The above statements are intended to describe the general nature and
level of work being performed and are not intended to be an exhaustive
nor inclusive list of all responsibilities, tasks, duties and skills
which may be required to perform the job described.

Clark Consulting is an Equal Opportunity Employer

Visit our website at www.clarkconsulting.com

NO PHONE CALLS, FAXES, OR OUTSIDE RECRUITERS PLEASE!