Actuarial Analyst

Paychex is reimagining how businesses manage their workforce by bringing payroll, HR, benefits, and advisory services together into a single connected HCM platform. As Paychex and Paycor come together, we're combining innovative technology, data-driven insights, AI, and human expertise to help organizations work smarter, support their people, and achieve better business outcomes. This is an exciting time to join our team as we continue to invest in innovation, simplify client experiences, and shape the future of work. At Paychex, you'll have the opportunity to grow your career, make a meaningful impact, and be part of something bigger as One Paychex.


Overview

Reporting to the Paychex Insurance Actuary, the incumbent will provide health and benefits analytical and actuarial services across the enterprise, particularly in support of our PEO segment. This will include but is not limited to data analytics, actuarial projections, and experience reporting to various leadership levels throughout the organization.


Responsibilities

• Assist with performance assessments of Paychex health insurance programs, IBNR and corporate reserve calculations, and the pricing and financial forecasting of at-risk insurance programs. This may also include assisting in rate renewal negotiations with carriers for guaranteed cost insurance programs.
• Collaborate with our PEO Benefits, Underwriting, Pricing Desk, and PEO FP&A leadership to evaluate underwriting tools, underwriting performance, carrier performance, client segment performance, loss rates by plan designs, geography, sales district, etc.
• Contribute to the development of a substantial data analytics/health predictive modeling capability for identifying key performance drivers and action plans to continuously improve performance and competitiveness.

Qualifications

• Bachelor's Degree in STEM, Economics, Finance, or closely related field - Required
• in Society of Actuaries Exam Progress- at least two - Preferred
• 3 years of experience in Actuarial Services, Finance, Mathematics/Statistics, or Data Science.
• 3 years of experience in Health and Benefits Actuarial (Pricing, Reserving, and/or Financial Forecasting) in a consulting or carrier environment.
• Society of Actuaries Exam Status Actively pursuing Society of Actuary exams towards Associateship/Fellowship Preferred - Preferred
• Society of Actuaries Exam Progress At least two Preferred - Preferred

Compensation

In the spirit of pay transparency, we are excited to share that the starting base pay for this position is $72,100 - $113,410 annually. Please keep in mind that this is the base pay only and does not consider other components that make up the total rewards package for the position. If you are hired at Paychex, your overall compensation will be determined based on factors such as geographic location, skills, education, and/or experience which may result in total compensation outside of this range.


Live the Paychex Values

• Act with uncompromising integrity.

• Provide outstanding service and build trusted relationships.

• Drive innovation in our products and services and continually improve our processes.

• Work in partnership and support each other.

• Be personally accountable and deliver on commitments.

• Treat each other with respect and dignity.

What's in it for you?

• We value your well-being: We provide over 21 comprehensive rewards, including medical coverage, virtual wellness classes, tuition reimbursement, 401(k) + employer match, adoption assistance, financial assistance, and much more.
• We value your time: From paid time off to company holidays, culture days, and comprehensive work-life balance programs, we will ensure you have the flexibility you need to be your best.
• We value your development: Our award-winning training and development programs empower our employees with ongoing learning opportunities to give you the building blocks to grow your career.
• We value your perspective: Our company culture reflects the diversity of our employees. We want you to be you and your voice to be heard.
• We value our communities: We offer paid time off for volunteerism and promote many company-wide and local initiatives that benefit organizations you care about.

Note: The benefits described apply to full-time employees. Benefits for part-time, contract, and intern roles may vary.


Not sure if you meet every requirement?
At Paychex, we know that great talent comes in many forms. If you're passionate about the role but don't check every box, we still encourage you to apply. You might be the right fit - either for this position or another opportunity with us.
Paychex is an equal opportunity employer. We are committed to fostering a respectful and inclusive workplace where all individuals are treated fairly and evaluated based on their qualifications, experience, and merit. We comply with all applicable federal, state, and local laws prohibiting discrimination in employment.