Experienced Associate_Workforce Solutions- HealthandWelfare Actuarial

At PwC, our people in workforce consulting focus on providing consulting services related to human resources, talent management, and organisational development. They analyse client needs, develop people and organisation strategies. These individuals offer guidance and support to help clients optimise their workforce, enhance employee engagement, and drive organisational effectiveness. Those in rewards and benefits at PwC will specialise in providing comprehensive consulting services related to total rewards, compensation programmes, and employee benefits. You will work closely with clients to analyse their reward and benefits strategies, design competitive and equitable compensation structures, and develop cost-effective and attractive benefits packages.

COMPETENCY OVERVIEW: WORKFORCE TRANSFORMATION

At PwC, this team of consultants works with their US counterparts to develop both short and long-term Workforce Transformation solutions for our clients. Our practitioners facilitate transformation by conducting strategic change initiatives, designing HR processes, developing, and implementing learning interventions, HR due diligence, post-merger or acquisition, supporting various HR PMO activities, perform actuarial valuations, benchmark rewards and compensation, harmonize benefits, design plans, de-risking strategies and

special studies that align with the client’s business strategy.

Some Of Our Key Capabilities Include

• HR Transformation
• Talent, Change & Behavior (including Learning Solutions)
• Deals
• Rewards & Wellbeing
• Workforce Analytics & Products
  
  

The WT competency at ACs in India are well established and has been in operations since the past seven years.

Key Responsibilities

As a WT practitioner, you will play a key role in helping clients in mitigating risks by providing consulting actuarial solutions by performing funding and accounting valuations as per US legislations along preparing de-risking strategies, plan design and implementation, loss ratio and IBNR analysis. Also support the client in performing annual audit for pension, OPEB and health plans under US and global accounting standards.

As such, the key responsibilities for this position include (but are not limited to):

• Work in teams to support consulting projects with regards to Retirement and Health & Welfare and understanding their methodologies as well as best practices
• Lead and evaluate business data to draw conclusions and develop insightful Retirement and Health & Welfare strategies and solutions
• Proactively identify and track key risks, project KPIs, opportunities, etc. and incorporate these into project planning and development
• Assist the practice leadership with client proposals, thought leadership, and contribute proactively to firm building initiatives
  
  

Must-have Skills

• Have an understanding of introductory knowledge of difference between GAAP vs STAT audit methodologies, and health insurance statutory reporting (e.g., Analysis of Operations by LOB, State Pages, Supplemental Health Care Exhibit)
• Knowledge of health reserve accruals (e.g. Claim (IBNR), Risk Adjustment, PAD, Premium Deficiency Reserve (PDR), Loss Adjustment Expense, Medical Loss Ratio) liabilities
• Have strong business acumen, with ability to understand how business processes and decisions impact people and Organization
• Have strong analytical, report-writing, facilitation, communication, and presentation skills, with high commitment to quality client service
• Foster an efficient, innovative, and team-oriented work environment
• Strong work ethics, proactive and professional behavior
  
  

Good-to-have Skills

• Be able to work and manage tasks in a fast-paced and high flexible environment
• Working knowledge of analytical tools like ProVal, Alteryx, Tableau, PowerBI, Advanced Excel, Microsoft Power Suite
• Preferred knowledge of SQL, SAS, or Python coding language
• Strategic thinker, problem solver
• Supports engagement manager in delivering engagements by identifying and addressing client needs
• Exhibits strong ability to work independently as well as in a highly collaborative team environment
  
  

Audit And Tool Management Support

• 101 knowledge of health reserve accruals (e.g., IBNR, PDR, PAD, Risk Adjustment)
  
  

Preferred: Introductory knowledge of difference between GAAP vs STAT audit methodologies

• 101 knowledge of U.S. Healthcare Insurance
  
  

Preferred: Introductory knowledge of health insurance statutory reporting (e.g., Analysis of Operations by LOB, State Pages, Supplemental Health Care Exhibit)

• Software skills - Medium expertise in Microsoft Suite (e.g., Excel, Powerpoint)
  
  

Preferred: Tableau and/or PowerBI skills, Alteryx and/or Access skills

• Programming skills - 101 knowledge of SQL, SAS, or Python coding language
  
  

Deal Work Support

• 101 knowledge of health reserve accruals (e.g., IBNR, PDR, Risk Adjustment)
  
  

Preferred: Knowledge of value-based care (VBC) contracts and methodologies for determining VBC accruals

• 101 knowledge of U.S. Healthcare Insurance
• Financial statements - Understanding of how to read and interpret both income statements and balance sheets; understanding of the relationship between the IS and BS
• Software skills - Medium expertise in Microsoft Suite (e.g., Excel, Powerpoint)
  
  

Eligibility Criteria

• Master’s degree in Actuarial Science, Economics, Mathematics, Mathematical Statistics, Statistics and member of IAI/IFoA/SOA actuarial societies while pursuing examinations actively
• Relevant experience of 1-2 years of handling Health & Welfare actuarial industry
• No current active backlogs
• Authorized to work in India
• Offer letter is subject to successful verification of documents and meeting the eligibility criteria
  
  

Additional Information

• Travel Requirements: Travel to client locations may be required as per project requirements
• Line of Service: Consulting Solutions
• Industry: Management Consulting
  
  

Preferred Work Experience: Experience in Consulting (preferably experience in US actuarial valuations, global audit, IBNR and loss ratio analysis, pension forecasting and defined benefits and health due diligence).

---