International Benefits Consultant - EXTERNAL

Marsh and McLennan

Job Description

Mercer Health & Benefits, LLC is seeking candidates for the following position based in the Chicago, Illinois office:

International Benefits Consultant

We will count on you to:

Coordinate the activity of Consultants globally to address non-US retirement and benefit issues. Provide advice to US-headquartered multinational clients on retirement, insured and non-insured benefits, perquisites and allowance.  Support senior consultants in the management of actuarial and non-actuarial multi-country projects against established budget, timeline and quality standards. Work on multinational benefit plan designs and audits. Monitor and analyze macroeconomic conditions in major global markets and their impact on insured and non-insured benefits. Support senior team members on retirement design and funding, competitive benefit analysis and benefit for startup operations. Complete analyses of benefit plan strategy and design, plan management and governance strategy utilizing country specific economic and benefit knowledge. Prepare and review financial calculations and quarterly financial reporting updates and provide financial assumption advice based on current macroeconomic conditions. Provide advice on multinational pooling and captive initiatives. Provide global benefits management (GBM) expertise, track annual policy contract renewals, and support senior consultants in placing expatriate global policies. Utilize project management tools, processes and software solutions to assess benefit performance. Perform and review actuarial valuations under Local GAAP, U.S. GAAP, and IAS19 accounting rules. Serve as a business strategic advisor to multi-national clients regarding pension accounting, executive compensation, pooling, captives, expatriate benefits, Health Care, and other reward programs around the world. Perform global retirement and benefits inventories for multinational clients, comparing against benchmarks and providing initial recommendations on changes for review by Senior International Consultants. Contribute with the overall client strategy development, interpret and present benchmark data to ensure plan and program changes are properly implemented and embody client strategy.

What you need to have: 

Must have a Bachelor’s degree or foreign equivalent in Economics, Management or a related field plus five (5) years of progressively responsible experience in the position offered, as a Senior International Actuarial Analyst, Analyst or a related position. Must have five (5) years of progressively responsible experience with:  Conducting actuarial valuation of non-US defined benefit pension plans, under USGAAP and IFRS accounting standards; Responsible for global actuarial consolidation of defined benefit pension plans under USGAAP and IFRS; Performing calculation of social security (mandatory and statutory) and expatriate benefits for non-US employees; Determining economic and demographic assumptions for non-US pension plans; Creating projection of liabilities, funded status and pension expense under different set of assumptions and scenarios; HR transaction services including employee benefits due diligence, post deal integration and implementation; Conducting actuarial valuations, including coding with actuarial valuation software, including MS Excel with VBA, Access, actuarial valuation and analysis; Performing change management analysis including quantifying and explaining the impact of change in liability due to actuarial assumption and other methodology change; Responsible for benefit inventories and benchmarking of benefits, perks and allowances around the world. Strong knowledge of statutory and mandatory benefit practices around the world; Project management; Pension and annuity related products; Performing special events accounting settlements, curtailments, plan amendments, divestitures; and Quantifying impact and accounting treatment under US GAAP and IFRS. In the alternative, the employer will accept a Master’s degree in the stated fields plus two (2) years of experience. The employer will accept any suitable combination of education, training or experience.

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 44 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 76,000 colleagues and annual revenue of $17 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 Follow Mercer on Twitter @Mercer.

Job Requirements