Actuarial Analyst
Location:
CT - Glastonbury, NY - Uniondale
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USI is one of the largest insurance brokerage and consulting firms in the world. Something special is happening here with our more than 8,000 associates across the U.S. and abroad - and we invite you to learn more.
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The USI ONE Advantage® allows USI to deliver unique solutions to our clients. This value proposition provides unmatched growth and opportunity for our associates and, at its core, represents a significant investment in our people.
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We turn care into action with our award-winning wellness program, college scholarships for associates' children, and financial help in times of need. Our annual community service initiative engages associates in hands-on regional service projects helping hundreds of thousands of people each year.
Industry-Leading Associate Rewards and Recognition
In addition to competitive pay, incentives, and benefits, USI recognizes associates through our Summit Awards program, rewarding excellence in those who build our brand each day.
Committed to a Diverse and Inclusive Work Environment
USI values diversity and is dedicated to ensuring a fair, diverse, and inclusive work environment for all. Our diversity and inclusion program, "I'm With U," advances these initiatives to champion our team members and the communities we serve.
Nationally Recognized as a Top Insurance Workplace
USI has been recognized as one of:
• The Top Insurance Employers by Insurance Business America four years in a row (2018-2021).
• Business Insurance's 2021 list of Best Places to Work in Insurance for the second year in a row.
• Forbes Best Large Employers in America (2018-2019).
• Ranked as one of Forbes Best Large Employers in America (2018-2019)
General Description:
The Defined Benefits Actuarial Analyst performs analysis and calculations necessary to complete client pension projects for review by senior staff. He/she is involved in numerous client projects simultaneously and must manage their contribution to project time and budget effectively to ensure a correct and complete client deliverable. The Actuarial Analyst at this level is expected to complete the assigned duties independently with limited instruction.
Responsibilities:
· Attend scheduled training sessions over 12-18 month period to gain familiarity and competency to perform all responsibilities associated with the Actuarial Analyst role.
· Draft the actuarial valuation and maintain plan record keeping for assigned clients and finalize after actuarial review. Maintain turnaround time to meet the client’s requirements and the department’s timing standards.
· Draft the participant annual funding notice and actuarial AFTAP certification.
· Complete IRS Form 5500, along with appropriate schedules and attachments and deliver it in an appropriate timeframe to the client.
· Complete the Pension Benefit Guaranty Corporation (PBGC) Comprehensive Premium Form for determining premium payments to comply with PBGC regulations. This form should be completed in accordance with the Department’s timing standards.
· Draft the ASC 715 Pension Expense Calculation and Disclosure Statement. Ensure timely delivery of this statement to assigned clients.
· Formulate and process benefit calculations and projected benefit estimates.
· Facilitate communication between the client and the actuary for assigned clients. Draft correspondence between USICG and the client.
· Familiarity with mortality and interest theory concepts.
· Complete special project assignments as requested by the client or actuary.
· Ability to work within various software applications to become efficient in completing client assignments.
· Foster and maintain a friendly and collaborative atmosphere within the department and company.
Knowledge, Skills and Abilities:
· Bachelor Degree in Mathematics, Actuarial Science, Computer Science or Finance.
· 0-3 years of post-education pension actuarial experience.
· Completion of actuarial exams is not required.
· Functional in MS Office software (Word, Excel).
· Strong analytical and communication skills.
· Ability to multi-task and juggle priorities.
· Flexibility to work overtime to meet client demands.
· Team orientated.
Physical Demands:
Work is performed in a climate controlled office environment with minimal noise and limited to no exposure to chemicals or toxins. Employees operate office equipment including; telephone - headset, Computer, computer monitors, keyboard, mouse, copier, scanner and mail machine. Physical tasks of job include; walking, sitting, standing, bending and typing.
Analysis of Physical Demands:
· Constantly (over 66% of time) work performed requires employees to use repetitive hand motions such as fingering, using a keyboard, and sitting at a desk.
· Frequently (34%-66% of time) work performed requires employees to handle and grasp things, walk on normal surfaces, stand and bend.
· Occasionally (1%-33% of time) work performed requires employees to drive to client appointments, have repetitive foot movements, walk on uneven or slippery surfaces to and from work and occasionally reach outward to grab things and bend.
· Rarely (< than 1 hour per week) work performed requires Lifting/Carrying items that range from 10-50lbs, pushing/pulling items that range from 10-50lbs, twisting/ turning including reaching over shoulder or above head , kneeling or squatting.
USI is committed to providing a full-suite of competitive benefits for our growing population and its diverse needs. We offer a wide range of health, welfare and financial benefits including medical, wellness, dental and vision, 401(k), flexible spending and health savings accounts, short and long-term disability, life insurance and other unique employer-sponsored and voluntary programs. USI also offers a generous paid time off policy, paid family leave benefit as well as paid holiday time.
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