Marsh & McLennan Mercer Marketplace Analyst in Chicago, Illinois

Mercer Marketplace Analyst

Description

The purpose of this job is to support consultants in managing client accounts by researching, analyzing, and evaluating medical, dental, life and disability benefits plans and programs for employers with more than 5,000 employees. The expectation at this level is that the analyst will exercise more independent thinking and be able to complete projects with little guidance from consultants

Responsibility

  • Data entry and analysis - assist the consulting team in gathering, organizing, entering and analyzing data using Excel spreadsheets to be used for various client projects. This role also involves an increased focus on analysis of the results and managing portions of projects, including reviewing the work of lower level analysts. Examples of the types of projects and responsibilities include:

  • Marketing efforts – gather benchmarking, utilization or rate data from the vendors via a Request for Proposal (RFP); interpret the meaning of the data and summarize the responses from the RFP in Excel or PowerPoint format for presentation to the client

  • Cost projections and vendor renewal workups – gather data from the client and vendors to populate Excel spreadsheets used for developing cost projections and evaluation of vendor renewal workups; results are used as part of client renewal and budget meetings

  • Tracking claims experience – gather data from client and vendors and check for reasonableness using independent judgment; analyze actual versus expected healthcare costs using an Excel template; results are typically sent to clients on a monthly or quarterly basis

  • Plan design consolidation – gather data from the client and current vendors needed for analyzing the impact of a client’s consolidation of its healthcare plans; typically involves organizing and summarizing plan design details and costs in Excel for further analysis by the team; responsibilities also include checking data for reasonableness and follow-up with vendors regarding missing or inaccurate data.

Understand Health and Benefits products, services and tools - Understand vendor/carrier markets, more advanced underwriting and financial skills, Health & Benefit products, services and technical tools, and intranet resources such as H&B MercerLink by participating in training courses, online learning, or through learning from more experienced colleagues.

Project management & consulting skills – understand and demonstrate project management and consulting skills such as:

  • Managing the quality and timeliness of client deliverables

  • Helping to develop budgets and billing reports

  • Participating in client calls and meetings as appropriate

  • Delegating to and reviewing project work of more junior colleagues

  • Assisting with the preparation and delivery of clear and concise client-friendly communications.

Develop and present benchmarking reports – gather and analyze health benefits data from a national survey administered and published by Mercer, input it into a standardized template and compare a client’s medical and dental plan information (such as the benefits they offer, rates, contributions) to other companies by industry or geography and present the final report to the client. The analyst will have a discussion with a consultant up front to determine what cuts of the data to make.

Qualifications

  • BA/BS preferred

  • One to three years of industry experience required

  • Knowledge of MS Office Tools (Excel, PowerPoint)

  • Excellent interpersonal skills; strong oral and written communication skills.

  • Ability to prioritize and handle multiple tasks in a demanding work environment.

  • Ability to work independently and on a team.

  • Required to obtain and maintain appropriate licenses as required by state regulations and Mercer policies.

At Mercer, we make a difference in the lives of more than 110 million people every day by advancing their health, wealth, and careers. We’re in the business of creating more secure and rewarding futures for our clients and their employees — whether we’re designing affordable health plans, assuring income for retirement or aligning workers with workforce needs. Using analysis and insights as catalysts for change, we anticipate and understand the individual impact of business decisions, now and in the future. We see people’s current and future needs through a lens of innovation, and our holistic view, specialized expertise, and deep analytical rigor underpin each and every idea and solution we offer. For more than 70 years, we’ve turned our insights into actions, enabling people around the globe to live, work, and retire well. We embrace a culture that celebrates and promotes the many backgrounds, heritages and perspectives of our colleagues and clients. At Mercer, we say we Make Tomorrow, Today. Visit www.mercer.com for more information and follow us on LinkedIn and Twitter @Mercer.

Mercer LLC and its separately incorporated operating entities around the world are part of Marsh & McLennan Companies, a publicly held company (ticker symbol: MMC).

Marsh & McLennan Companies offers competitive salaries and comprehensive benefits. For more information about our company, please visit us at: http://www.mmc.com/. We embrace a culture that celebrates and promotes the many backgrounds, heritages and perspectives of our colleagues and clients. For more information, please visit us at: www.mmc.com/diversity .

Marsh & McLennan Companies and its Affiliates are EOE Minority/Female/Disability/Vet/Sexual Orientation/Gender Identity employers.

Job Consulting

Primary Location US-IL-Chicago

Marsh & McLennan Companies and its Affiliates are EOE Minority/Female/Disability/Vet/Sexual Orientation/Gender Identity employers.

Req ID: CHI003ZU