Sr. Actuarial Analyst
Location:
CT - Glastonbury
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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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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 Senior Actuarial Analyst performs analysis and calculations necessary to complete client pension projects for review by Actuaries and completes peer review of other Actuarial Analysts' work. 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 Senior Actuarial Analyst at this level is expected to complete the assigned duties independently with limited instruction.
Responsibilities:
- Draft and peer review 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.
- Review the participant annual funding notice and actuarial AFTAP certification completed by the Actuarial Analyst.
- Review IRS Form 5500, along with appropriate schedules, completed by the Actuarial Analyst and deliver it in an appropriate timeframe to the client.
- Review 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 and review the ASC 715 Pension Expense Calculation (including settlement transactions) and Disclosure Statement. Ensure timely delivery of this statement to assigned clients.
- Formulate and review benefit calculations and projected benefit estimates, including QDROs.
- Facilitate communication between the client and the actuary for assigned clients. Draft correspondence between USICG and the client.
- Demonstrate competency 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.
- 3-5 years of post-education pension actuarial experience. Prior OPEB experience preferred.
- 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.
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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