Experienced Associate_Workforce Consulting - Health&Welfare Actuarial

Line of Service

Advisory

Industry/Sector

Not Applicable

Specialism

Workforce Transformation

Management Level

Associate

Job Description & Summary

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 retirement and pensions at PwC will specialise in providing consulting services related to retirement and pension programmes. You will work closely with clients to analyse their retirement and pension offerings design maintainable and compliant retirement plans and provide guidance on retirement plan administration governance and communication. Working in this area you will assist clients in managing retirement risks optimising retirement benefits and supporting retirement readiness for employees.

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 clients 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:

1. 101 knowledge of health reserve accruals (e.g. IBNR PDR PAD Risk Adjustment)

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

2. 101 knowledge of U.S. Healthcare Insurance

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

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

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

4. Programming skills - 101 knowledge of SQL SAS or Python coding language

Deal work support:

1. 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

2. 101 knowledge of U.S. Healthcare Insurance

3. Financial statements - Understanding of how to read and interpret both income statements and balance sheets; understanding of the relationship between the IS and BS

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

Eligibility Criteria
Masters 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).

Education (if blank degree and/or field of study not specified)

Degrees/Field of Study required:

Degrees/Field of Study preferred:

Certifications (if blank certifications not specified)

Required Skills

Optional Skills

Accepting Feedback Accepting Feedback Active Listening Actuarial Analysis Artificial Intelligence (AI) Platform Auditing Benchmarking Studies Communication Communications Planning Communications Strategy Compliance Oversight Complying With Regulations Data Analytics Data Processing Data Visualization Defined Benefit Pension Scheme Defined Contribution Plans Emotional Regulation Empathy Financial Advising Financial Risk Management Governance and Reporting Human Resources (HR) Consulting Inclusion Industry Trend Analysis 26 more

Desired Languages (If blank desired languages not specified)

Travel Requirements

Up to 20%

Available for Work Visa Sponsorship

No

Government Clearance Required

No

Job Posting End Date