The Vice President is responsible to develop and maintain a strong relationship with clients and acquire a thorough understanding of clients benefit programs. Develop and execute a strategic plan with their clients.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following:
- Assess highly complex and sophisticated client risk, understanding the strategic implications of the competitive carrier/product marketplace, and make sound underwriting-based assumptions to find solutions to meet assigned Company clients’ objectives.
- Understand the changing carrier product landscape, maintaining good carrier/vendor relationships. • Analyze complex client demographics and other data to determine risk and appropriate solutions.
- Underwrite complex annual renewals and proposals from carriers for accuracy and financial reasonableness.
- Lead product/service quality improvement initiatives as needed.
- Design and create complex presentation reports for assigned Company clients.
- Must be able to communicate, in laymen’s terms, complex financial benefits data.
- Can translate multi-faceted financial data into logical bottom-line conclusions and recommendations for client.
- High degree ability to create spreadsheets of data, including use of pivot tables for contribution/migration scenarios.
- Ability to analyze and recommend appropriate stop loss retention levels.
- Can analyze claims data for outliers and cost drivers, making appropriate recommendations for plan design and cost containment measures to reduce claims.
- Assessing, coaching and developing employee performance, knowledge, skills, career progression, workload and job-specific expertise.
- Motivating and recognizing employees.
- Proactively providing training and education to ensure underwriting requirements are met.
- Collaborating with other departments and/or department supervisors to develop effective cross-functional team workflows.
- Assist in overseeing productivity and quality goals within the department, taking corrective action as needed.
- Must be able to consult in client-facing and internal meetings regarding strategic plan design, complex renewals, problem solving, contribution models, and address financial implications or consequences of altered plan design.
- Must be able to understand and present utilization metrics to client as required.
- Responsible for meeting all client deliverable timelines and deadlines.
- Must be able to analyze client demographics and other data to determine risk and appropriate carrier product solutions as well as have strong underwriting skills and background.
- Provide direction to and act as resource for Assistant Analyst / Sr. Analyst in drafting and distribution of Request for Proposals (RFPs) or Request for Renewals (RFRs) and follow up with carriers during negotiations.
- Analyze and calculate Company clients’ rates and benefit costs as well as prepare executive summary for annual client budget review and prepare IBNR recommendations.
- Responsible for accuracy of premium rates, benefits collected from carriers.
- Work as a team with Account Management staff to understand expectations and to meet deliverables.
- Excellent writing and presentation skills.
- Great listener and problem solver.
- Mentors junior personnel.
- Other duties as assigned.
MINIMUM SUGGESTED QUALIFICATIONS: 10+ years of full charge underwriting with indemnity, PPO, HMO, self-funded, alternative funding options experience. Ability to work under extreme pressure and to prioritize and process multiple projects simultaneously. Strong sense of urgency and research and reporting skills. High level of professionalism, detail and balance with “big-picture” outlook. Proficiency in computer software, budgets, forecasts, mathematics and advanced accounting.
SOFTWARE APPLICATIONS: Proficient in Microsoft Outlook, Excel, PowerPoint and Word. Adept at accessing business data from the Internet when required.
PHYSICAL DEMANDS: While performing the duties of this job, the employee is regularly required to use manual dexterity, handle, or feel objects, tools, or controls; reach with hands and arms; and speak or hear. The employee frequently is required to walk, stand and sit. Position requires employee to frequently exert up to 10 pounds of force to move objects and occasionally exert up to 20 pounds of force to move objects.
REASONING ABILITY: Ability to solve practical problems and to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.
WORK ENVIRONMENT: Normally not exposed to conditions that are discomforting or disagreeable.