Senior Associate - Placement Specialist
Job Description
As a Vendor Placement Senior Associate you will significantly contribute to a client’s benefits strategy through managing and/or leading the entire vendor/carrier bid, procurement, and negotiation process. You will work across the full spectrum of employer health and group benefit programs including medical, dental, life, disability, voluntary benefits, etc. You will interface with vendors and client teams, prepare client deliverables, and ensure quality standards are met. You will have the opportunity to expand your business acumen and communication skills by managing multiple, diverse clients and working alongside leaders in the industry.
Note: Employment-based non-immigrant visa sponsorship and/or assistance is not offered for this specific job opportunity.
The Role
- Materially contributes to clients’ benefits strategies by leading the entire carrier/vendor bid, procurement, and negotiation process for medium/medium-large sized clients; partners with senior colleagues on more complex clients
- Understands and articulates broader impact of placement strategies and decisions for carrier/vendor renewals and carrier/vendor marketings (Requests for Information or Requests for Proposal)
- Has intermediate/advanced knowledge of fully-insured arrangements and self-funded funding arrangements across all benefits, including stop loss contracts and provisions
- Applies in-depth knowledge of industry trends, available products/solutions and carrier/vendor differentiators to inform and influence clients’ placement strategies
- Manages clients’ expectation and relationships positively and effectively
- Collaborates with Client Service teams and H&B Communities of Expertise (CoEs) to communicate and deliver placement results by preparing teams for meetings or directly co-presenting in meetings
- Supports sales activities for new Placement projects or new client acquisition
- Provides quality reviews for placement work created by the Global Delivery Centers (GDCs) and/or junior Placement colleagues
- Awards business to chosen carrier/vendor and manages declination communications to those not selected
- Maintains/cultivates strong carrier/vendor relationships to enhance WTW’s market position and brand
Qualifications
The Requirements
- 5+ years’ experience in professional services, ideally gained in a benefit consulting/brokerage firm or health care vendor/carrier
- Intermediate/advanced knowledge of fully-insured arrangements and understanding of self-funded funding arrangements, including stop loss contracts and provisions
- Intermediate/advanced knowledge of health & welfare vendor/carrier landscape
- Proven ability to manage multiple projects simultaneously and produce quality deliverables on time and within budget
- Strong client service orientation and ability to manage expectations and relationships both internally and with clients
- Proven ability to identify and resolve issues with limited information and experience
- Strong written and verbal communication skills
- Self-starter attitude and ability to work independently and as part of a team
- Strong analytical, creative and integrative skills
- Ability to direct work of more junior colleagues and provide feedback
- Excellent Microsoft Office skills, particularly in Excel and PowerPoint
- State Life and Health license required within 90 days of joining
- Relevant industry experience and/or Bachelor's degree in finance/math, risk management, human resources or business will be considered in lieu of industry experience
- Progress towards completion of CEBS designation (optional)
This position will remain posted for a minimum of three business days from the date posted or until sufficient/appropriate candidate slate has been identified.
Base salary range and benefits information for this position are being included in accordance with requirements of various state/local pay transparency legislation. Please note that salaries may vary for different individuals in the same role based on several factors, including but not limited to location of the role, individual competencies, education/professional certifications, qualifications/experience, performance in the role and potential for revenue generation (Producer roles only).
Compensation
The base salary compensation range being offered for this role is $105,000 - $115,000 USD.
This role is also eligible for an annual short-term incentive bonus.
Company Benefits
WTW provides a competitive benefit package which includes the following (eligibility requirements apply):
- Health and Welfare Benefits: Medical (including prescription coverage), Dental, Vision, Health Savings Account, Commuter Account, Health Care and Dependent Care Flexible Spending Accounts, Group Accident, Group Critical Illness, Life Insurance, AD&D, Group Legal, Identify Theft Protection, Wellbeing Program and Work/Life Resources (including Employee Assistance Program)
- Leave Benefits: Paid Holidays, Annual Paid Time Off (includes paid state/local paid leave where required), Short-Term Disability, Long-Term Disability, Other Leaves (e.g., Bereavement, FMLA, ADA, Jury Duty, Military Leave, and Parental and Adoption Leave), Paid Time Off (Washington State only)
- Retirement Benefits: Contributory Pension Plan and Savings Plan (401k).
EOE, including disability/vets
