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Company Name : NFP Corp
Company Location : Norwell, MA 02061
Job Position : Financial Analyst (hybrid)
Job Category : Jobs in Massachusetts
Job Description :
Who We Are
We’re NFP, a six-time Best Places to Work award winner, Elite Agency award winner and named as a Top Employee Benefits Firm. We are a leading Insurance Broker and Consultant that provides Employee Benefits, Property & Casualty, and Retirement and Individual Private Client solutions to help our clients reach and realize their goals because we believe business is personal. Our personal commitment to our team and our clients have created long-lasting and successful relationships across our growing 300+ nationwide offices and 17 international locations. To learn more, please visit: https://www.nfp.com.
The Role at NFP
Summary: This is a full‐time position. The position requires day‐to‐day financial reporting and analysis for a specific set of clients. Position includes reviewing data for accuracy and creating client specific reports for analysis and review.
Additionally, the Financial Analyst will be client facing and serve as a mentor to a Junior Analyst.
Essential Duties and Responsibilities:
- Client servicing including financial reporting and financial related client questions and needs
- Prepare financial reports to be used in monthly and quarterly reviews.
- Reports include claims, premium, membership, high claimants and network utilization
- Identifies and obtains required data for claims audit, dependent audit, and plan optimization/contribution differential analysis for Account Management Pre‐Renewal meeting
- Build and maintain trend analysis as it relates to renewal increases.
- Develops renewal projections for medical, dental and vision and prepares renewal financial summary
- Prepare “if self‐funded analysis”
- Prepare and present stop loss sensitivity analysis for self‐insured clients
- Annual Employee Contribution Analysis for clients, including but not limited to defined contributions, per dependent cost structure, and wellness credits, as directed by the Account Management team and client needs
- Prepare and present renewal decision tool. Populate renewal model and update underwriting formulas and assumptions for large client.
- Perform health care reform analysis
- Perform IBNR reserve analysis
- Summarize report findings, highlight new trends and measure strategic outcomes
- Distribute monthly reports and lead discussions around reporting.
- Proof exhibits created by Level 1 Analysts for mathematical, formulaic, spelling, grammatical and branding errors and ensure they are client ready
- Distribute reports and lead discussion with internal account team as well as clients.
- Build new excel‐based models to improve the reporting or renewal process
- Attends seminars, sales meetings or educational activities to stay up‐to‐date on the latest developments, trends and regulations in the market place
- Build and maintain solid relationships with clients as well as carrier sales representatives and account managers
- Other duties as assigned
Knowledge, Skills, and/or Abilities:
- Ability to correspond on all financial issues in a clear, concise and persuasive manner
- Ability to effectively establish rapport, present information and respond to questions from managers, clients and coworkers
- Strong Analytical Skills
- Ability to prioritize
- Excellent organizational skills
- Strong knowledge of the group insurance marketplace including alternative funding methods, industry trends and Healthcare Reform
- Working knowledge of carriers and products
- Strong knowledge of Microsoft Excel
- Less than 10% travel required
Education and/or Experience:
- 1‐3 years of related experience and/or training with a carrier, consultant or broker
- Four year college or university degree, Finance/Statistics/Mathematics is required
Certificates, Licenses, Registration:
- MA Life, Accident and Health License required
What We Offer
NFP is proud to offer a competitive salary, PTO & paid holidays, 401(k) with match, exclusive discount programs, health & wellness programs, and more. Our PeopleFirst culture focuses on building and nurturing lifelong relationships with our employees because, at the end of the day, we exist to be there for others.
NFP and You… Better. Together.
NFP is an inclusive Equal Employment Opportunity employer.
Job Type: Full-time
Pay: $72,100.00 per year
- 401(k) matching
- Dental insurance
- Employee discount
- Flexible spending account
- Health insurance
- Health savings account
- Life insurance
- Paid time off
- Referral program
- Vision insurance
- 8 hour shift
Ability to commute/relocate:
- Norwell, MA 02061: Reliably commute or planning to relocate before starting work (Required)
- financial analyst: 1 year (Required)
Work Location: Hybrid remote in Norwell, MA 02061
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