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| |  Posted 4/13/2005 8:52:40 AM | |
| Supreme Being
Group: Administrators
Last Login: 1/29/2007 9:04:03 AM
Posts: 4,199, Visits: 95 |
| Position: Actuarial Student, Experienced
Company:Consulting Company
Location: California
Job ID: 2909
Responsibilities:
Actuarial student who assists more experienced associates and works directly with the client (with appropriate supervision) on most aspects of the work carried out for clients. Will also delegate some work to others.
·Pass actuarial exams (US and Canada: minimal requirement of one course per year)
·Solid administration and staff-level client relationships; developing some relationships with higher level client contacts
·Able to answer some client questions without reliance on lead actuary
·Manage various projects simultaneously, with some oversight
·Completes some work through others (i.e. delegation)
·Beginning to play a role in client meetings
·May work with some consultants from other lines of business
·Prepare contribution requirements and accounting costs, with some oversight
·Update valuation runs for any changes and program provisions from scratch
·Interpret valuation results and provide initial recommendations to lead actuary
·Perform more complicated or review simpler pension benefit calculations
·Take responsibility and uses own initiative to ensure that projects are being completed efficiently and on time
·Coach/train entry level students
·Demonstrate flexibility to work additional hours on occasion when client needs dictate
·Draft original materials (e.g. letters, reports, discussion guides) with some guidance
·Adheres to the firm’s standards and procedures for quality control (e.g. information storage systems, quality control procedures)
Qualifications:
·Academic background or aptitude in Actuarial Science, Mathematics, Economics or Statistics
·Generally, 2+ years of actuarial work experience
·US and Canada: Completion of several exams, possibly an ASA or EA
Technical Competencies/Skills Required:
Actuarial Valuations/Funding
·Basic knowledge of funding methods
·Impact of varying assumptions
·Use of valuation software, tailoring, and programming
·Validation and reconciliation of results (e.g. including gain/loss analysis) with guidance
·Minimum and/or maximum funding calculations
·Internal guidance and basic knowledge of some professional guidance
·Understanding the relevant internal tools and models available to help
·Interpreting results
·Basic knowledge of cost methods
·Reconciliation of liability gains and losses
·Maximum deductible contribution
·Equation of balance
·Funding Standard Account amortization schedules
·Additional Funding Requirement
·Full Funding Limitation
·Current Liability
·Documentation of results
·Schedule B and coordination with 5500
·FAS 35 reconciliation
·PBGC Schedule A
·Requirements for actuarial communications (from internal guidance and ASOPs)
·Asset/liability projections
·Coding the projection system with guidance
·Valuation programming on AVL system
·Demographic reporting tools on AVL system
·Applicability and calculation of quarterly contribution requirements
·Applicability and calculation of ERISA 4011
·Creation and use of multiple-year projection modelers (simplified projection system or Excel-based)
·Non-discrimination testing
Accounting
·Basic knowledge of relevant accounting standards and related business impact
·Basic knowledge of funding methods
·Basic knowledge of the selection of assumptions
·Basic knowledge of impact of varying assumptions
·Basic knowledge of the calculation of profit and loss (Income Statement) items
·Basic knowledge of calculation of balance sheet items
·Basic knowledge of disclosure requirements
·Knowledge of internal guidance and basic knowledge of professional guidance
·Understanding the relevant internal tools and models available to help
·Basic knowledge of how to project results
·Very basic knowledge of relevant standards for overseas clients
·FAS 87 Accounting and FAS 132 Disclosure
·Basic knowledge of FAS 88 Accounting for Settlements and Curtailments
·FAS 106 Accounting for Post-retirement Medical and Life Insurance Benefits
·Basic knowledge of FAS 112 Accounting for Other Post-employment Benefits
Merger, Sales, and Acquisitions (US Only)
·Very basic understanding of accounting impact (with guidance)
·Very basic knowledge of internal guidance (e.g., conflicts of interest and fire walls)
·Very basic understanding of the relevant internal tools and models available to help
·Very basic knowledge of requirements of 414(l)
Benefit Design
·Very basic understanding of country/state/social benefit provisions
·Basic knowledge of internal guidance
·Benefit design spectrum (e.g., DC, DB, and hybrid)
·Basic understanding of relevant internal tools and models available to help
·Very basic awareness of impact on corporate costs, variability and risks
·Nondiscrimination implications of benefit plan design with guidance
·Ability to create and use strawman illustrations to show impact of new design
·Understanding of the relevant Excel tools and models available to help (Excel Hot Zone and Benefit Projection Modeler)
·Program new provisions in AVL and develop cost impact of changes
·Impact of union negotiations on plan design
Statutory Framework and Professional Guidance
·Basic knowledge of Pension Legislation
·Tax authority practice and limits
·Basic knowledge of professional and internal guidance
·Basic knowledge of the role of government and regulatory bodies
·Basic knowledge of applicable IRS Code Sections, IRS Regulations, Revenue Procedures, Revenue Rulings, and IRS Notices
·Basic knowledge of Actuarial Standards of Practice (ASOPs)
·Basic knowledge of annual and non-annual government reporting requirements, PBGC Reportable Events filings
·Actuarial Technical Forum database
Benefit Calculations and Actuarial Factors
·Ability to read and interpret plan documents in order to calculate benefits
·Calculation of benefits and factors with very little guidance
·Internal guidance
·Understanding of relevant internal tools and models available to help
·Application of the 401(a)(17) pay cap
·Treatment of breaks in service and termination/rehires
·Excel actuarial add-in functions and PC Annuity Calculator
·Issues related to specific types of benefit calculations (QDROs, 70.5, late retirements, large amount lump sums, etc.)
Scheme Discontinuance/Termination/Wind-ups
·Very basic knowledge of options available to client after discontinuance
·Very basic knowledge of methods for discharging the liabilities
·Very basic knowledge of Requirements/priorities for the use of assets
·Very basic knowledge of dealing with surplus or deficit
·Very basic knowledge of impact on investment policy
·Very basic knowledge of professional and internal guidance
·Understand relevant internal tools and models available to help
·Very basic knowledge of consequences of plan termination for participants
·Very basic knowledge of steps to completing a plan termination
Some positions require an applicant who has accepted an offer to undergo extended background checks in addition to the company’s standard checks due to the nature of the position. Extended background checks may include some or all of the following: fingerprint verification, credit check, drug test, increased timeframe for criminal check or employment verification. By applying for a position with this company, you understand that you may be required to undergo these background checks. You will be notified during the hiring process if the position requires this extended background checking
Online Application available at www.jobs4actuary.com
For further information, email info@nasearchg.com and mention Position #2909, or contact any of our recruiters at (905)-477-2962. |
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