Actuary

Pension Benefit Guaranty Corporation • Washington, DC

1d

About The Position

This position is in the Pension Benefit Guaranty Corporation’s (PBGC) Actuarial Services & Technology Department (ASTD), Actuarial Services Present Value Future Benefits Division (ASPVFBD). The selected candidate reviews actuarial work performed by staff and contractors, oversees cash balance plan updates, reviews Actuarial Service Requests and Level 40/50 benefit calculations, and develops methods to resolve unique or unprecedented actuarial problems.

The role recommends legislative, regulatory, and policy changes affecting post-valuation plan administration; develops operating specifications for new regulations and changes in law or policy; and implements procedures to meet new requirements. The actuary advises PBGC staff and management on actuarial issues, supports the Office of the General Counsel, answers questions from outside actuaries and plan administrators, and presents technical topics at meetings, training, and large-case participant meetings.

The actuary serves as the technical authority on valuation software, coordinates with technology staff and contractors to develop efficient software procedures, and reviews technical specifications and tests software to improve actuarial analyses and cash balance plan update processes. A one-year probationary period is required unless completed during prior Federal service.

Requirements

• At least one year of specialized experience at the GS-13 grade level in Federal service or equivalent private-sector experience performing complex actuarial work for defined benefit pension plans.
• Specialized experience must include reviewing benefit calculations or cash balance plan updates; interpreting pension law, regulations, and plan provisions; and providing technical advice on actuarial methods or benefit administration issues.
• For current Federal employees, at least 52 weeks of experience at the next lower grade level in Federal service is required to meet the time-in-grade requirement.
• A bachelor's degree with at least 24 semester hours in actuarial science, mathematics, relevant statistics, business, finance, economics, insurance, or computer science.
• The required coursework must include at least 12 semester hours of mathematics, including differential and integral calculus and one or more mathematics courses for which calculus courses were prerequisites.
• Education must be from an institution accredited by an accrediting institution recognized by the U.S. Department of Education; transcripts must be submitted to verify the education requirement.
• All qualification requirements must be met within 30 days of the announcement closing date.

Responsibilities

• Review actuarial work performed by staff and contractors.
• Oversee cash balance plan updates.
• Review Actuarial Service Requests and Level 40/50 benefit calculations.
• Develop methods to resolve unique or unprecedented actuarial problems.
• Recommend legislative, regulatory, and policy changes affecting post-valuation plan administration.
• Develop operating specifications for new regulations and changes in law or policy, and implement procedures to meet new requirements.
• Advise PBGC staff and management on actuarial issues and support the Office of the General Counsel.
• Answer questions from outside actuaries and plan administrators.
• Present technical topics at meetings, training, and large-case participant meetings.
• Serve as the technical authority on valuation software.
• Coordinate with technology staff and contractors to develop efficient software procedures.
• Review technical specifications and test software to improve actuarial analyses and cash balance plan update processes.

Benefits

• Comprehensive federal employee benefits package for employees and their families; eligibility depends on position type and work schedule.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior