Actuarial Assistant I - Actuarial Support (PAS4)

ProSidian Consulting•Washington, DC

6d•Remote

About The Position

ProSidian Seeks a Actuarial Assistant I - Actuarial Support (PAS4) (CONUS - Washington, DC (Remote) | Senior Consultant - Full-Time) to support an engagement for a federally chartered corporation that encourage the continuation and maintenance of voluntary private defined benefit pension plans. The candidate works as part of an Team that provides Federal Financial Services Sector-related Management And Operations Consulting Solutions for Actuarial Support for Multiemployer Special Financial Assistance Services. This service supports Capital Markets ProSidian Job Title Sector Clients (For Present / Future Requirements) and ProSidian Team Members work as part of a Team to fulfill requirements for a The Actuarial Assistant I shall support Teams and participate on Service Pod Teams and contribute to deliverables that assess potential risks of company decisions or situations using statistics, financial theories, and mathematics. The candidate works as part of an Team that provides Federal Financial Services Sector related Management And Operations Consulting Solutions for Actuarial Support for Multiemployer Special Financial Assistance Services. Their duties include estimating probabilities of the success of certain business decisions, projecting costs of potential natural disasters, deaths, or sicknesses of company employees, and designing insurance policies or business strategies to reduce a company's financial risks. The Actuarial Assistant I shall be a data-driven professional interested in working with market leading tools and technology to support Teams and participate on Service Pod Teams, contribute guidance, and support requirements of clients and Teams of professionals who help clients assess benefit program and organizational risk by leveraging advanced analytics within their federal and/or public sector organization's environment. This role offers the opportunity to advise clients through critical and complex benefit and risk issues, while allowing you to develop personally and professionally As a Actuarial Assistant I within our Government & Public Services (GPS) Team you support Teams and participate on Service Pod Teams in the analysis of financial consequences of risk. Other duties and responsibilities include: Conducting various testing and assessments, planning and analysis, developing innovative solutions to boost productivity, and keep an organized flow of documentation. leading Pod Teams of skilled professionals and other team members and shape them with extensive knowledge while adhering to client delivery, analysis support, and engagement/client/firm policies and guidelines. Studying statistical data for the purpose of creating an analysis Creating estimates of probability and likely costs for a given event such as death, natural disaster or sickness. Calculating how insurance policies for different types of coverage are likely to pay out Generating charts and presenting them at meetings along with explaining the information Analyzing reports to determine next steps for the company or client Participate in and/or lead the development of deliverable content that meets the needs of the client and contract Anticipate client needs and formulate solutions to client issues Review deliverables for accuracy and quality Provide coaching to junior staff Contribute to new business proposals and proposal development Manage own personal and professional development; seeks opportunities for professional growth and expansion of consulting skills and experiences Actuarial Assistant I - Actuarial Support (PAS4) Candidates shall work to support requirements for (Actuarial Support Services) and contribute to client deliverables related to Performance Area I: Special Financial Assistance (SFA) implementation, reporting, and monitoring as well as Special Financial Assistance (SFA) application reviews. In addition provide Surge Support as part of Performance Area II for Multiemployer Special Financial Assistance (SFA) Actuarial Support: A1] Performance Area I: Special Financial Assistance (SFA) implementation, reporting, and monitoring: Assist NRAD in the development and documentation of standard procedures to address requests from the plan for approval of SFA. Review eligibility and priority groups for plans that apply for SFA. Review and update reports to track status of active cases, completed and in progress with respect to SFA. Review and update the standard report for presentation and certification of results of each SFA application review. Train PBGC staff on SFA application review. Prepare and develop case reporting for internal and external stakeholders. Review financial and actuarial determinations post approval of SFA with respect to transactions such as mergers, transfers, and withdrawal liability settlements. Monitor plans that receive SFA for compliance with conditions. A2] Performance Area I: Special Financial Assistance (SFA) application reviews Review the application information, including organization of the information in NRAD’s systems, for completeness. Review certification of plan status, actuarial valuation reports and other actuarial reports provided in the application. Review cash flow projections and actuarial calculations included in application. Review assumptions and supporting documentation as they relate to the cash flow projections and other actuarial calculations included in application. Identify any proposed change in actuarial assumptions from the pre-2021 zone status certification. If changes are proposed, review information submitted in support of conclusion that the existing assumption is no longer reasonable and that the proposed assumption is reasonable. Review calculation of the amount of SFA. Prepare summary of financial and actuarial information included in application for SFA. Review actuarial assumptions, plan provisions, projected benefits, contribution projections, investment rate of return, repayment of suspended benefits (if any), new entrant assumption, and historical data for accuracy and completeness. As requested, review census data and produce projected benefits reflecting plan provisions. Prepare report to present findings and formal actuarial certification of the results of the SFA application review. B1] Performance Area II: Surge Support: The Contracting Officer may unilaterally execute all or a portion of this optional task area by formal modification of the contract. The Team shall not perform work under this section without a formal modification to the contract executed by the Contracting Officer. B2] Performance Area II: Overflow Work: The Team shall provide the services described above under Performance Area 1, in section 2.5.1 Special Financial Assistance (SFA) implementation, reporting, and monitoring, and section 2.5.2 Special Financial Assistance (SFA) application reviews, when surge support is required to cope with periods of unanticipated workload increase and/or to provide for additional skill sets or additional hours of service to support increased mission requirements of sections 2.5.1 and 2.5.2. B3] Performance Area II: Related Special Projects: Special projects represent a small portion of surge support but are not limited to the following: Litigation Support: In some instances, litigation support (testimony, depositions, etc.) defending The Team's work or concerning other actuarial issues may be required by the PBGC. Analysis of legislation proposals: The Team shall provide support as needed for purposes of analyzing the impact of proposed laws impacting either single employer or multiemployer pension plans. Other Assistance as Needed: This may include but is not limited to, training on pension laws and regulations that undergo changes impacting work, analysis of the appropriateness of actuarial assumptions, and additional work to support PBGC's financial statements.

Requirements

College Degree | Minimum Pension Experience: 3 years | Minimum Pension Experience since receiving Credentials: N/A
Bachelor's degree in Mathematics, Economics, Statistics or other business related field
3+ years of relevant consulting or industry experience
Proficiency in word processing, spreadsheet, and presentation creation tools, as well as Internet research tools
Experience identifying and validating pension plan data
Experience performing pension plan calculations
Attained or working towards attaining actuarial credentials such as ASA, EA, or FSA
Must be able to obtain and maintain required clearance for this role
Knowledge of statistics, probability and calculus
Strong written and verbal communication skills to clearly relay information to other employees at the company or the client
Analytical skills to determine specifics of insurance policies and avoid any errors that would lead to negative consequences
Experience with computers and statistical modeling software
Knowledge of business and financial concepts
Organizational skills to keep track of multiple projects or cases at a time
U.S. Citizenship Required - You must be a United States Citizen
Excellent oral and written communication skills (This employer participates in the e-Verify program)
Proficient with Microsoft Office Products (Microsoft Word, Excel, PowerPoint, Publisher, & Adobe)
All ProSidian staff must be determined eligible for a “Facility Access Authorization” (also referred to as an “Employment Authorization”) by the USG’s designated Security Office.
May be required to complete a Financial Disclosure Statement
Must be able to submit to and qualify for varying levels of background investigative requirements, up to a Top Secret or DOE "Q" clearance.

Nice To Haves

A qualified Actuarial Assistant I candidate for the position of will have, at a minimum, a bachelor's degree in actuarial science or a degree in a related field, such as mathematics or statistics.
Some actuaries may decide to pursue further education and obtain a master's degree in actuarial science.
Python experience
Knowledge and experience with/of multiemployer defined benefit plans; Employee Retirement Income Security Act (ERISA), defined benefit plan limitations and guidelines, defined benefit plan assets to pay benefits.
Experience and tools for Financial Analysis, Change Management, Restructuring Actuarial Analysis, Restructuring Negotiations
Experience and tools for Census Data Analysis, Documentation Of Standard Procedures, Management Reports Tracking
Experience and tools for Financial And Actuarial Analysis, Case Reporting, Contribution Projections, Data Analysis, Actuarial Calculations
Experience and tools for working on multiemployer pension plan data and/or familiarity with multiemployer pension plans
Ability to support consultations on pension plan administration leading practices, including process and operational efficiencies
Experience working independently with minimal supervision and guidance
Strong problem solving and troubleshooting skills with experience exercising mature judgment
Proven experience effectively prioritizing workload to meet deadlines and work objectives
Demonstrated ability to write clearly, succinctly, and in a manner that appeals to a wide audience

Responsibilities

Conducting various testing and assessments, planning and analysis, developing innovative solutions to boost productivity, and keep an organized flow of documentation.
leading Pod Teams of skilled professionals and other team members and shape them with extensive knowledge while adhering to client delivery, analysis support, and engagement/client/firm policies and guidelines.
Studying statistical data for the purpose of creating an analysis
Creating estimates of probability and likely costs for a given event such as death, natural disaster or sickness.
Calculating how insurance policies for different types of coverage are likely to pay out
Generating charts and presenting them at meetings along with explaining the information
Analyzing reports to determine next steps for the company or client
Participate in and/or lead the development of deliverable content that meets the needs of the client and contract
Anticipate client needs and formulate solutions to client issues
Review deliverables for accuracy and quality
Provide coaching to junior staff
Contribute to new business proposals and proposal development
Manage own personal and professional development; seeks opportunities for professional growth and expansion of consulting skills and experiences
Assist NRAD in the development and documentation of standard procedures to address requests from the plan for approval of SFA.
Review eligibility and priority groups for plans that apply for SFA.
Review and update reports to track status of active cases, completed and in progress with respect to SFA.
Review and update the standard report for presentation and certification of results of each SFA application review.
Train PBGC staff on SFA application review.
Prepare and develop case reporting for internal and external stakeholders.
Review financial and actuarial determinations post approval of SFA with respect to transactions such as mergers, transfers, and withdrawal liability settlements.
Monitor plans that receive SFA for compliance with conditions.
Review the application information, including organization of the information in NRAD’s systems, for completeness.
Review certification of plan status, actuarial valuation reports and other actuarial reports provided in the application.
Review cash flow projections and actuarial calculations included in application.
Review assumptions and supporting documentation as they relate to the cash flow projections and other actuarial calculations included in application.
Identify any proposed change in actuarial assumptions from the pre-2021 zone status certification.
If changes are proposed, review information submitted in support of conclusion that the existing assumption is no longer reasonable and that the proposed assumption is reasonable.
Review calculation of the amount of SFA.
Prepare summary of financial and actuarial information included in application for SFA.
Review actuarial assumptions, plan provisions, projected benefits, contribution projections, investment rate of return, repayment of suspended benefits (if any), new entrant assumption, and historical data for accuracy and completeness.
As requested, review census data and produce projected benefits reflecting plan provisions.
Prepare report to present findings and formal actuarial certification of the results of the SFA application review.