Actuarial Analyst Advanced

Description:
The Actuarial Analyst uses analytical and communication skills to help clients with the design, financing, and administration of retirement and other benefit plans. Advanced Actuarial Analysts work independently on a variety of projects and have opportunities to leverage his/her knowledge and expertise through others in order to accomplish the goals of the project team. Client projects include data preparation, benefit calculations, pension valuations, and special projects.

Specific Accountabilities
Mastery of all accountabilities of the Actuarial Analyst Experienced job
Preparation of data
Calculation/administration of benefits
Valuation of plans
Assist/support experienced consultants
Act as resource for wide variety of special projects

Manage projects
Manage pension valuation project from data preparation to presentation of results
Independently complete both short- and long-term special projects
Manage benefit calculation projects and deliver results to client(s)

Consult with Clients
Consult with client(s) on special projects such as nonstandard benefit calculations, benefit statements, changes to requirements, special programs or other administrative requests
Maintain current knowledge of client specific plan provisions
Demonstrate flexibility to work additional hours when client needs dictate

Develop and Coach Other Associates
Leverage technical knowledge to other team members
Train and coach associates to produce client results
Provide honest, specific and timely feedback on an ongoing basis
Provide feedback, ranging from technical skills to suggestions for growth, during the annual performance assessment process

Deliverables and Performance Measures
Client and billable time
Feedback from peers, clients, and associates who report to/with work this associate
Success and financial results of client engagement (e.g. recovery ratio, growth in revenue).

Qualifications:
Education/Certifications/Work Experience Required
Undergraduate degree
Generally 7+ years relevant work experience
Demonstrated proficiency in using computer systems and programs
Knowledge of Defined Benefit plans/administration
Advanced database knowledge
Advanced spreadsheet knowledge (Excel required)
Ability to work independently and manage projects

Knowledge Base Required
Defined Benefit plan knowledge
Organizational skills
Database management
Actuarial mathematics and life contingencies

Technical Competencies/Skills Required
Actuarial Valuations/Funding
Funding policy/methods and related business impact
Impact of varying assumptions
Use of valuation software, tailoring and programming
Validate and reconcile data
Validate and reconcile of results, including gain/loss analysis
Minimum and/or maximum funding calculations
File reports and certifications with the relevant government and regulatory authorities
Ability to interpret and explain results to clients
Knowledge Areas
FAS 87 Accounting and FAS 132 Disclosure
FAS 88 Accounting and Settlements and Curtailments
FAS 106 Accounting for Post-retirement Medical and Life Insurance Benefits
FAS 112 Accounting for Other Post-employment Benefits
Annual Report and 10-K Disclosure Reporting
SEC Guidance
IAS 19 (for clients with international disclosures)
Actuarial Standards of Practice
Interaction of funding policy, funding flexibility, accounting costs, and PBGC premiums
Assumption setting
Legal actuarial cost methods
Legal asset valuation methods
Automatic approval for funding method changes/timing
Application for funding method changes
Reconcile liability gains and losses
Equation of balance
Funding Standard Account amortization schedules
Maximum deductible contribution
Additional Funding Requirement
Full Funding Limitation (ERISA, OBRA, and RPA)
Full Funding Limit Credits
Current Liability
PBGC premium minimization strategies
Documentation of results
Form 5500 and applicable schedules (particularly Schedule B with actuarial information)
Simplified forecasting
Asset/Liability projections
Data programming on ProVal system
Valuation programming on ProVal system
Demographic reporting tools on ProVal/Excel

Accounting
Relevant accounting standards and related business impact
Funding methods
Selection of assumptions
Impact of varying assumptions
Calculate profit and loss (Income Statement) items
Calculate balance sheet items
Impact of special events
Disclosure requirements (including any provisions for directors/executives)
Project results
Relevant standards for overseas clients

Mergers, Sales, and Acquisitions
Forms of transaction (asset sales, share sales, joint ventures, etc.)
Legal documentation of transactions (purchase agreement, etc.)
Awareness of conflicts of interest and Chinese walls
Role of relevant government and regulatory authorities on mergers, sales, and acquisitions

United States Knowledge Areas
Effect of asset purchases vs. stock purchases on vesting and eligibility service credit in and distributions from qualified retirement plans
Impact of plan transfers vs. leaving prior benefit with seller s plan on plan benefits, administrative requirements, etc.
Pension plan spin-offs and mergers
PBGC Involvement in Corporate Transactions
Change in Control benefits (e.g., pensions, medical, contracts, stock options)

Salary/Benefits: Salary commensurate with experience


Job Location: Atlanta, GA

Job Number: 302771

Company URL: http://www.hewitt.com/workinghere

Company Profile:
Hewitt Associates is a global outsourcing and consulting firm delivering a complete range of human capital management services to companies, including HR & Benefits Outsourcing, Payroll, Health Management, Retirement & Financial Management, and Talent & Organization Consulting.

Our associates have been instrumental in developing innovative solutions that have helped our clients become some of the most successful companies in the world. Today, our client roster includes more than half of Fortune 500 companies and more than a third of Fortune Global 500 companies.