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... more details
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.
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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