Mercer Health Actuarial Analyst Co-Op - Toronto - Summer 2023

Who We Are

We’re Mercer - a global consulting leader in health, wealth and career.  Mercer has more than 25,000 colleagues based in 43 countries.  We help clients worldwide from small businesses to Fortune 1000 companies advance the health, wealth and performance of their most vital asset – their people.

Mercer’s Health Team is seeking a Summer Co-Op for our Toronto office.
 

What Can You Expect?

As an Actuarial Analyst Co-Op in the health practice, you will work with a broad range of clients and industries in a stimulating environment, participating as an integral member of project teams to design benefits programs that support clients’ success. You also can expect to:

• Employ actuarial techniques to perform valuation modelling of retiree group benefit plan costs and post-employment obligations

• Participate in the preparation of annual financial reporting of post-employment obligations in accordance with  governing accounting standards (i.e. International Financial Reporting Standards, Chartered Professional Accountants' Handbook, Financial Accounting Standards Board)

• Perform basic cost projections by entering the client's cost and enrollment data into an Excel spreadsheet and projecting costs for the next plan year

• Analyze vendor renewals by checking carrier or vendor's plan rates for reasonableness and by analyzing claims and enrollment data, trend rates, administrative expenses and other charges

• Price medical and prescription drug plan designs by entering plan design information into Mercer's internal pricing model to develop the relative cost differences between plan designs, in order to compare the client's current plan to alternative designs

• Develop employee contributions scenarios by entering current employee medical contribution data into an Excel spreadsheet and project contributions to the next plan year, taking into account the cost-sharing goals of the client

• Gain an understanding of basic project management and consulting skills such to include: managing the quality and timeliness of client deliverables, helping to develop budgets and billing reports, participating in client calls and meetings as appropriate and assisting with the preparation of clear and concise client-friendly communications

• Gain an understanding of the following, through online training, group sessions, or one-on-one training with others in a more senior role: Health and Benefits products, services and technical tools offered by Mercer, vendor/carrier markets, basic underwriting and actuarial skills, budget-setting, rate-setting and evaluation.
   

What's In It For You?

• The opportunity to work with some of the smartest and most energetic people in the industry, who will nurture, challenge and enable you.

• A dynamic, collaborative and inclusive culture, where diversity is embraced – and you are celebrated and appreciated for who you are.

• The opportunity to network, share views, and learn from others by getting involved with our Business Resource Groups: PRIDE, Women@Mercer, Racial & Ethnic Diversity and Rising Professionals Network.

• The chance to make a positive difference in your local community by using your paid time off to volunteer through events organized by Mercer Cares, our community outreach and volunteerism BRG.

• A huge variety of virtual learning and development resources to support your personal and professional growth.

What You Need To Have?

• Strong analytical skills, both quantitative and qualitative, and working knowledge of Excel

• Experience in data analysis and presentation design

• Excellent interpersonal, verbal, and written communication skills

• Intellectual curiosity, seeking opportunities to develop new skills

• Flexibility, adaptability, and the ability to work under tight deadlines and changing client needs

• Superior organizational skills and strong attention to detail

What Makes You Stand Out?

• Completion of two (2) years towards a Bachelor's Degree in Actuarial Sciences, Mathematics, Economics, or Finance preferred

• Strong preference will be given to students demonstrating progress towards the ASA/FSA designation

• Previous relevant work experience

Join Us

At Mercer, we believe that diversity and inclusion are vital components of our future and our goal is to leverage the unique skillsets that each person brings to the company.  We provide our employees with a supportive, collaborative environment that leads to innovative ideas and the ability to make an impact. If you thrive on a challenge and enjoy connecting with people, we’re looking for you!
 

What's Next?

In order to be considered, submit your complete application by providing a cover letter, your resume and your most recent transcript in PDF format, via our career website.

We will review completed application submission and you will be contacted if you are selected for an interview.

In accordance with the Accessibility for Ontarians with Disabilities Act, 2005, Mercer will provide a reasonable accommodation to employees and prospective employees to the point of undue hardship upon request and as required in respect of the individual’s particular restrictions and limitations. If you require a specific accommodation because of a disability or a medical need, feel free to contact TANA@mmc.com.

About Mercer

Mercer’s roots are in Canada – founded 75 years ago and continues to be one of the elite Canadian business and employment brands.  Currently, the Canadian business earns $340+M CAD in revenue and employs 1,000+ colleagues across Mercer’s core services areas.  Along with Marsh, Guy Carpenter and Oliver Wyman, Mercer is one of four Marsh McLennan businesses with a significant Canadian presence.

Mercer believes in building brighter futures by redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being. Mercer’s more than 25,000 employees are based in 43 countries and the firm operates in over 130 countries. Mercer is a business of Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people, with 83,000 colleagues and annual revenue of nearly $20 billion. Through its market-leading businesses including Marsh, Guy Carpenter and Oliver Wyman, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment. For more information, visit https://www.me.mercer.com/. Follow Mercer on Twitter @Mercer.

At Mercer, we’re creating a culture where you can bring your authentic self to work. When you join us, you bring your inclusive energy and enthusiasm to a team that values you personally and professionally – regardless of who you are, what you look like, where you were raised or born, who you love or what your religious beliefs are. You are welcome here.