Financial Analyst (Hybrid)

NFP Corp.

Location: Norwell, Massachusetts

Job Type: Full time

Posted


Who We Are

We’re NFP, a five-time Best Places to Work award winner in Business Insurance for 2017, 2018, 2019, 2020 and 2021. We are also recognized as an Elite 2018 Agency award winner 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

Physical Demand: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. While performing the duties of this Job, the employee is regularly required to sit; use hands to handle or feel and talk or hear. The employee is frequently required to reach with hands and arms. The employee is occasionally required to stand and walk. Specific vision abilities required by this job include close vision and distance vision.

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.

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