Associate

WTW • Philadelphia, PA

2d

About The Position

Associate within the Retirement Line of Business at Willis Towers Watson US LLC in Philadelphia, Pennsylvania. The Retirement business provides actuarial support, plan design, and administrative services for pension and retirement savings plans. Its services help clients assess retirement-plan costs and risks, workforce-demographic effects, and retiree benefit adequacy and security, including support for complex global plans.

In this role, you will perform accounting and funding valuations for pension and retiree welfare plans under US GAAP, IFRS, and ERISA regulations. Work includes processing, reconciling, and reviewing annual census data; producing and reviewing system-generated plan liabilities; and developing and reviewing financial reporting results and formal actuarial reports. You will model and forecast future benefit obligations to support client budgets, assist with setting year-end financial disclosure assumptions, and calculate and review benefits reported in proxy statements.

You will monitor market conditions and government rulings that may affect benefit plans and communicate relevant changes to clients. You will conduct plan experience studies to review actuarial valuation assumptions. You will also manage multiple client projects by arranging status meetings, documenting discussions, structuring timelines, and promoting professional excellence.

Requirements

• Bachelor’s degree (U.S. or foreign equivalent) in Actuarial Science, Mathematics, Statistics, or a related quantitative field.
• One year of experience as an Actuarial Analyst or in a related role.
• Experience collaborating with consultants on team projects providing actuarial services to clients in industries such as manufacturing, utilities, investments, legal, insurance, and health care.
• Experience with databases, dataset analysis and data reconciliation, project management, and report writing.
• Experience contributing to retirement-plan design and union negotiations, including assessing liabilities and preparing cost estimates.
• Experience conducting asset and liability projection modeling based on funding policy and economic scenarios to determine funded status, net periodic benefit cost, and minimum required contributions.
• Experience working with US GAAP, IAS 19, ERISA, FASB, Department of Labor, the Pension Protection Act, and other government regulations.
• Experience conducting experience studies to improve plan valuation assumptions, including termination and retirement rates, salary scale, disability incidence rates, form-of-payment election rates, spousal age differences, retiree medical participation rates, and mortality credibility analysis.
• Proficiency in Microsoft Excel, Word, and PowerPoint.
• Experience utilizing actuarial valuation systems.
• Experience with discount-rate and pension-benefit forecasting models.
• Exam progress toward designation as an Associate of the Society of Actuaries (ASA).

Responsibilities

• Perform accounting and funding valuations for pension and retiree welfare plans following US GAAP, IFRS, and ERISA regulations.
• Process, reconcile, and review annual census data for plan populations.
• Produce and review system-generated plan liabilities, financial reporting results, and formal actuarial reports.
• Conduct forecasting and modeling of future benefit obligations for retirement and other post-retirement plans to support annual client budgets.
• Assist with setting assumptions, including discount rates, expected returns on assets, and mortality tables, for year-end financial disclosure.
• Calculate benefits reflected in proxy statements and review statements for accurate reporting.
• Monitor market conditions and government rulings that could affect benefit plans, and relay relevant changes to clients.
• Conduct plan experience studies to review actuarial valuation assumptions, including retirement and termination rates, disability incidence rates, salary increase rates, form-of-payment election rates, spousal age differences, and retiree medical participation rates.
• Manage multiple client projects by organizing periodic status meetings, documenting discussion notes, structuring project timelines, and championing professional excellence.

What This Job Offers

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