Financial Analyst Intern
About The Position
Marsh McLennan Agency's East Region is a leader in the employee benefits marketplace. Our associates simplify employee health and welfare benefits and risk management for regional, national, Fortune 500 and Fortune 1000 companies. We value integrity, collaboration, passion, innovation, and accountability, and we are committed to making a difference in the moments that matter for our colleagues, clients, and communities. BRIEF DESCRIPTION The primary role of the Financial Analyst Intern is to support the financial and client account teams with the tactical deliverables of the underwriting and analysis process. This internship opportunity will provide exposure to financial analysis and modeling tools to evaluate benefit programs and its impact on strategic business objectives, including the management and control of client risks and losses.
Requirements
- Working towards Bachelor’s Degree in Risk Management, Insurance, Actuary, Mathematics and/or other related field is required
- Effective analytical, math and problem-solving skills, sound judgment, strong decision making ability, confidence to make difficult decisions and excellent communication skills
- Ability to translate big picture ideas into client objectives
- Strong organizational, analytical skills and strong attention to detail
- Excellent troubleshooting, decision making and problem solving skills
- Must have strong negotiation and persuasion skills
- Must be a goal oriented self-starter
- Solid interpersonal, verbal and written communication skills
- Ability to work well independently and as a team member
- Ability to multitask and successfully operate in a fast-paced work environment
- Ability to prioritize projects and meet deadlines
- Ability to follow through on and successfully execute tasks while adhering to specified quality standards
- Demonstrated ability to provide superior customer service and maintain positive relationships with client contacts
- Proficiency in Microsoft Office Suite, including MS Word (intermediate) and Excel (intermediate)
- Proficiency in use of PC such as keyboard skills and electronic folder/file organization and management
- Aptitude for learning internal systems, applications and internal workflow of the department
- Must be able to effectively interact and deal with people at all levels inside and outside of the company
Nice To Haves
- Prior relevant internship experience in the Benefits Brokerage, Consulting, or Insurance industry is preferred
- Working knowledge of MS Excel is preferred (ability to use pivot tables, intermediate formulas, lookups)
Responsibilities
- Assist with general underwriting, financial, and risk analysis support for internal sales teams and their respective consulting clients
- Assist in preparing plan design and financial analysis for existing and prospective customers by utilizing modeling tools and various reporting techniques
- Assist with clients’ benefits marketing process, such as: data acquisition, request for proposal (RFP) preparation, vendor question resolution, proposal review and analysis, and client exhibit and presentation preparation
- Assist in the analysis and negotiation of rates and plan options with insurers on behalf of clients to secure optimal, cost-competitive benefit plans
- Validate renewals and proposals for accuracy
- Assist with the definition of clients’ employee contribution modeling and strategies
- Assist with the evaluation, determination and recommendation of alternative coverage, pricing options, and plan design changes based on economic analysis of available plan elements related to client goals
- Perform various reporting for plan change evaluations, budget and reserve calculations, and other on-going reviews
- Maintain quality service standards and organization to assure timely service to MMA East team
- Research and remain abreast of the dynamic, competitive insurance environment, new and complex insurance projects, appropriate underwriting techniques and constantly changing legislation that governs business
- Assist Client Service, Account Management and/or Voluntary Benefits teams with project support as needed.
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What This Job Offers
Career Level
Intern
