Compensation and Benefits Analyst jobs in Detroit, MI

Description

The Financial Analyst is part of our health and welfare underwriting team and is responsible for leading the underwriting, analysis and benchmarking process for current and prospective clients from beginning to end and delivering timely and accurate information. 

Requirements

• Lead the annual underwriting process for assigned clients, including but not limited to; requesting the census from client as well as other data needed for quoting, competitive market analysis, plan and contract reviews, carrier negotiations, and plan and invoice audits proposed plan design and rates 
• Participate in client renewal discussions (in person or virtual)
• Ownership of timely and accurate analysis, tracking and interpretation client financial data 
• Create and propose employee/employer contribution modeling scenarios to meet client’s budgetary requirements
• Assist in preparation of month-end, quarter-end and year-end claims analysis, where necessary
• Understand and illustrate the impact of current regulation on our client’s benefits package
• Attend industry training to develop and maintain an exceptional understanding of the employee benefits industry
• Manage carrier relationships to help expedite information and negotiate preferred underwriting, where necessary
• Actively track and document the renewal process in our agency management system
• Completion of plan design and rate renewal audits
• Provides support to other colleagues to complete special projects as needed or work on special client projects as assigned
• Perform other duties as assigned

Required Experience

• Bachelor’s degree in Finance, Economics, Business or another related field 
• Strong analytical and mathematical skills as well as attention to detail
• Proficient in Microsoft Word, Microsoft Excel. Microsoft PowerPoint and Adobe
• Mastery of insurance funding concepts

Preferred Experience

• 3-5 years’ experience in the industry
• Expertise in agency database system
• License in Group, Health and Life
• Self-funding certification or experience
• Expertise of insurance carriers, employee benefits and underwriting procedures

Wilshire Benefits Group has been providing comprehensive employee benefit solutions since 1986. Our team is committed to helping clients make appropriate business decisions regarding their employee benefit and retirement plans.  We are committed to building lasting relationships by offering best-in-class plans and services. We offer very competitive benefit offerings including medical, dental, vision, life and disability insurance, 401(k) and company matching, EAP, HSA, FSA, generous PTO and several paid holidays, summer Friday hours, tuition reimbursement, professional development assistance, an employee referral program, team building events, healthy office snacks, and remote work options.  We have been named in Crain's Cool Places to Work for the last four years and have a great company culture.