Senior Manager - Actuarial

INTERNAL JOB POSTING

Health Actuaries – Actuarial & Financial Group (AFG)

The AFG (Health Actuarial) team is seeking candidates for the following position based in the Mercer’s Gurugram office-

Senior Manager – Actuarial (Career Level E)

Last Date to Apply:

What can you expect?

Mercer is the industry leader in helping companies create dynamic solutions that make a difference in the moments that matter. We are searching for a MercerRx Actuary – Pharmacy Practice. This is a tremendous opportunity to be a part of one of Mercer’s fastest growing specialty practices. MercerRx Actuaries are responsible for supporting various financial projects related to pharmacy benefit management (PBM) for clients. This role involves working closely with the MercerRx team, analyzing financial data, and providing recommendations to optimize clients pharmacy benefit programs.

The Mercer RX team is a part of US Actuarial & Financial group with a broad range of health actuarial & financial management services primarily for US clients. Team serves over 40 locations across United States and has a client base of 1500+ clients, producing more than 3,000 reports annually. With exciting developments happening in the US health business, there is expected to be increasing revenue growth, providing opportunities for career advancement at AFG India.

This role involves working closely with the MercerRx team, analysing financial data, conducting cost projections, and providing insights to support the development and implementation of pharmacy benefit strategies. A key part of this role is also to act as a project manager for projects as well as liaise with onshore consultants on various work aspects. The candidate will be responsible for delivering an excellent and consistent experience for all our clients by meeting defined SLAs and onshore delivery protocols. The individual will be an offshore member of the client team. They will be responsible for maintaining excellent quality in their deliverables along with meeting the timelines. The individual should communicate their findings and suggestions through effective communication via different channels

What is in it for you?

• Holidays (As Per the location)
• Shared Transport (Provided the address falls in service zone) and meals at office
  
  

We will count on you for:

• Analyze pharmacy claims data and collaborate with the team to address any data-related questions or issues.
• Assist in contract review, focusing on financial terms and definitions.
• Evaluation of comprehensive RFPs (Request for Proposal) to solicit proposals from pharmacy benefit managers (PBMs) or vendors.
• Evaluate the competitiveness of pharmacy benefit vendors in the market, assessing capabilities, pricing, and services to ensure clients receive the best value.
• Monitor and address significant changes or disruptions to the formulary and retail networks, working with clients to assess the impact and develop strategies to mitigate any negative effects.
• Utilize Mercer’s proprietary financial tools to evaluate financial impact of PBM proposals.
• Coordinate with team members on projects, seeking guidance and ensuring accurate and timely completion.
• Prepare presentations and reports based on completed financial models.
• Stay updated on industry trends and best practices in pharmacy benefit management.
• Works on complex actuarial/quantitative analysis projects with some guidance from onshore project team members to assess and project costs, rates, risks and trends associated with Rx Financials and Pharmacy Actuary Support
• Ensure seamless and superior client service delivery on the work aligned as per prescribed SLAs viz. Accuracy / Timeliness / Efficiency / Utilization etc.
• Proactively managing all stakeholders, which includes internal and onshore health business leaders.
• Participates in the development of companys intellectual capital to develop knowledge of health insurance actuarial services and products.
• Represent India AFG in global forums related to technical competencies and other mutual collaborations.
• Anticipate and plan for developing future technical capabilities across AFG India
• Ensure gating procedures, process control and enhancements via reporting, RCA etc.
• Active participation in SME/knowledge sharing/training/process improvement initiatives and participate in testing of new tools/processes and roll outs.
• Innovate and implement areas of improvement on quality and efficiency.
• Support transition of new services/geographies and in managing ongoing operations of established services.
• Participate and contribute in any special / ad-hoc project requirements.
  
  

Note: Applicants should be flexible working in shifts in onshore – offshore delivery model

What you need to have:

Knowledge & Skills:

• Strong analytical skills, both quantitative and qualitative.
• Working knowledge of Microsoft Office—Word, Excel, and PowerPoint—and advanced programming skills are a plus (e.g. R, Python, SAS and SQL).
• Knowledge of data analysis, project management, and presentation design.
• Excellent interpersonal, verbal, and written communication skills.
• Intellectual curiosity; seeking opportunities to develop new skills.
• Ability to work independently and be flexible to work under tight deadlines and changing client needs.
• Superior organizational skills and strong attention to detail.
• Sound knowledge of process documentation, development of SOP, knowledge artefacts.
• Ability to prioritize and handle multiple tasks in a demanding work environment.
  
  

Education:

• Graduation with Mathematics/Statistics/Actuarial Science or any subject with sizeable mathematical content
• Fully / Nearly qualified actuary preferably in health domain
  
  

Work experience:

• Minimum 10 years’ experience overall in actuarial services (domestic or international)
• Experience in health insurance is preferred
  
  

What makes you stand out?

Adaptable communicator, facilitator, influencer and problem solver

• High attention to detail
• Good relationship skills, proven ability to work on own initiative as well as in a team
• Stakeholder management mainly onshore stakeholders
• Adaptable communicator, facilitator and problem solver
• Ability to multi-task and prioritize time effectively
• Demonstrate quick learning skills
  
  

Disclaimer

• HR to update, if any
  
  

Mercer, a business of Marsh McLennan (NYSE: MMC), is a global leader in helping clients realize their investment objectives, shape the future of work and enhance health and retirement outcomes for their people. Marsh McLennan is a global leader in risk, strategy and people, advising clients in 130 countries across four businesses: Marsh, Guy Carpenter, Mercer and Oliver Wyman. With annual revenue of $24 billion and more than 90,000 colleagues, Marsh McLennan helps build the confidence to thrive through the power of perspective. For more information, visit mercer.com, or follow on LinkedIn and X.

Marsh McLennan is committed to embracing a diverse, inclusive and flexible work environment. We aim to attract and retain the best people and embrace diversity of age, background, caste, disability, ethnic origin, family duties, gender orientation or expression, gender reassignment, marital status, nationality, parental status, personal or social status, political affiliation, race, religion and beliefs, sex/gender, sexual orientation or expression, skin color, or any other characteristic protected by applicable law.

Marsh McLennan is committed to hybrid work, which includes the flexibility of working remotely and the collaboration, connections and professional development benefits of working together in the office. All Marsh McLennan colleagues are expected to be in their local office or working onsite with clients at least three days per week. Office-based teams will identify at least one “anchor day” per week on which their full team will be together in person.

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