Actuary

Pension Benefit Guaranty Corporation • Washington, DC

1d

About The Position

This position is located in the Pension Benefit Guaranty Corporation’s (PBGC) Actuarial Services & Technology Department (ASTD), Actuarial Services Present Value Future Benefits Division (ASPVFBD). More than one selection may be made from this vacancy announcement.

The Actuary establishes principles and procedures for quarterly actuarial valuations of PBGC’s single-employer and multiemployer programs, evaluates and selects plan data sources, and calculates present value of future benefits reserves and exhibits for actuarial reports. The position monitors plans in the probable category, determines PBGC present value of future benefits liabilities, prepares final quarterly and year-end figures, and summarizes and reconciles valuation results.

The position supports PBGC auditors reviewing controls and financial statements by explaining actuarial methods and results, supplying supporting calculations and documentation, and resolving actuarial questions affecting financial reporting. It also monitors the Integrated Present Value of Future Benefits (IPVFB) system and supporting files and documentation for compliance with Corporation and external auditor standards; recommends software changes; designs and performs tests of new releases; and reviews technical specifications and implementation test results.

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.
• Current Federal employees must provide proof of at least 52 weeks of experience at the next lower grade level in Federal service to meet the time-in-grade requirement.
• A bachelor's degree including 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 was a prerequisite.
• 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

• Establish principles and procedures for quarterly actuarial valuations of the single-employer and multiemployer programs.
• Evaluate and select plan data sources.
• Calculate present value of future benefits reserves and exhibits for actuarial reports.
• Monitor plans in the probable category for the single-employer and multiemployer programs.
• Determine PBGC present value of future benefits liabilities.
• Prepare final quarterly and year-end figures and summarize and reconcile valuation results.
• Support PBGC auditors reviewing controls and financial statements by explaining actuarial methods and results, supplying supporting calculations and documentation, and resolving actuarial questions affecting financial reporting.
• Monitor the Integrated Present Value of Future Benefits (IPVFB) system and supporting files and documentation for compliance with Corporation and external auditor standards.
• Recommend software changes, design and perform tests of new releases, and review technical specifications and implementation test results.

Benefits

• Comprehensive federal employee benefits package for employees and their families; specific benefits depend on position type.

What This Job Offers

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