USI Insurance

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:

• 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.
• For GASB/OPEB client work:
• Prepare and review the client GASB 75,73, and 101 valuations, and
• Prepare and review with the all the actuarial valuation and disclosure processes.
• For Defined Benefit Pension Plan/Cash Balance Pension Plan client work:
• Prepare and review the financial impacts of the ASC 715 Pension Expense Calculation (including settlement transactions) and Disclosure Statement,
• Prepare and review and deliver the participant annual funding notice and actuarial AFTAP certification,
• Prepare and assist with the client filing process for the IRS Form5500 package, and
• Draft the participant annual funding notice and actuarial AFTAP certification.
• Help to complete IRS Form 5500, along with appropriate schedules and attachments and deliver it in an appropriate timeframe to the client.
• Help to comp 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.
• Formulate and process benefit calculations and projected benefit estimates.
• 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.
• 3-5 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.