Job Description: Senior Principal - Medicare Advantage ExperienceLocation(s): Atlanta, Chicago, Milwaukee, or PhiladelphiaJob DescriptionAs a Senior
Principal, you will work alongside and learn from Oliver Wyman's industry leaders and other experienced consultants while contributing to a broad range of client projects. You will achieve significant interaction and visibility with Oliver Wyman's clients, which include top tier insurance companies and provider health systems. You will be leading client teams, assisting senior leaders with client management, project management, and peer review.
Potential projects may include:
- Medicare Advantage and Prescription Drug Plan bid support: leading the pricing of MA/PD and products from assistance with strategic positioning and product design to overseeing the development of assumptions, providing actuarial certification and final upload to post submission bid support
- Feasibility studies: assisting clients with new entries or expansions of products, development of pro forma financial projections to assess the risk of market entrance and understanding the levers they may need to pull to achieve the desired financial results
- Experience studies: undertaking deep dive reviews of the client's MA/PD block of business to understand the drivers of the financial results; risk score analyses, total cost of care management, and star rating impact
- Formulary Analyses: review of product formulary options, analysis of financial impact and disruption analysis so clients understand the full risk of various formulary options
- Product Design and Positioning: competitive landscape analyses of products and prices to assist clients in making product design decisions and market position and helping them understand the levers they would need to utilize in pricing these products to achieve their goals and remain financially viable
- Collaboration: Work in partnership with Oliver Wyman's management consulting practice in their Health and Life Sciences division through broader strategy engagements
Qualifications and desired skills - At or near-FSA with 10+ years of experience in the actuarial field, in the Medicare Advantage space, preferably Medicare Advantage bid development
- Track record of and desire for rapid learning, high performance, and professional growth
- Strong written and oral communication skills
- Excellent time and project management skills
- Ability to work independently and direct junior staff on both client projects and intellectual capital development
- Understanding of the value of collaboration, and the ability to work effectively in a team setting
- Deep critical-thinking skills and problem-solving ability
- Experience communicating results and impact to clients or senior management
- Highly motivated individual and willingness to work in a dynamic environment
- Strong skills with MS Excel, SAS, SQL, R, VBA or other programming languages
Oliver Wyman offers a performance-based pay program that rewards colleagues for the contributions they make to our business results, including year-end bonuses based on personal and corporate performance. We also offer an impressive array of benefits. Explore all the benefits offered at US Benefits | Marsh McLennan.
In addition to competitive benefits, the Practice is dedicated to the success of actuarial students in their pursuit to become credentialed actuaries. Oliver Wyman offers a competitive study program which includes paid time off for exam study and exam day, financial support for materials, reimbursement of exam costs and salary increases subsequent to passing exams. Financial incentives such as first-time pass bonuses are provided in addition to the generous salary increases. The Practice's managers understand the demands and dedication required to pass actuarial exams and are supportive and flexible with the actuarial students' work loads.
Marsh 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 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.
