Pension (Risk Transfer) Actuary, Administrator, Paralegal

Corebridge Financial • Jersey City, NJ

5d • $130,000 - $140,000 • Hybrid

About The Position

The Institutional Markets - Pension team is one of the top writers of pension risk transfer transactions in the US. As our business continues to grow, the US pension underwriting team is looking to hire a professional with actuarial or defined benefit pension plan expertise. Depending on the candidate’s background, the successful candidate will perform one or multiple of the following duties: (1) underwrite, assess pension risks, perform actuarial calculations, and assemble commitment agreements in technical aspects; (2) act as internal project manager in all technical aspects of onboarding new business across internal functions; (3) act as pension specialist to support call center through managing defined benefit pension plan’s benefit calculations, modeling, and testing; (4) act as pension specialist in drafting and reviewing defined benefit pension provisions in contracts from the actuarial modeling and pension administration perspectives before documents are utilized by call center, are delivered to individuals or are filed with state regulators; and/or (5) lead inforce governance and special projects assisting internal functions.

Requirements

• Defined benefit pension plan experience
• Ability to interpret and implement complex pension plan benefit provisions as well as drafting of documents
• At least one of Pricing, Valuation, Actuarial Modeling, Pension Administration or Contract experience
• Pension benefit calculation modeling, testing, or production experience
• Project management experience
• Self-Starter who is comfortable dealing with both complexity and ambiguity, with ability to explore multiple solutions to a problem
• Awareness of governance best practice and controls required
• Competence in using Microsoft Office programs; familiarity with VBA coding a plus
• Ability to work and thrive in a dynamic team environment, possess excellent interpersonal, written and oral communication skills and having a comfort with explaining complex materials in a clear, focused, and concise manner
• Bachelors degree in Actuarial Science, Mathematics, Statistics, or related field
• Pursue one of the Society of Actuaries, the Enrolled Actuaries, or the American Society of Pension Professionals & Actuaries certification

Responsibilities

• Explain technical actuarial and/or pension topics to Head of US PRT in New Jersey
• Be viewed as the defined benefit pension plan expert within the company
• Assess pension risks, calculate premiums, and customized contract terms affecting premiums or operations
• Guide onboarding and lead cross function collaboration
• Design or implement governance, controls, process, and procedures
• Review actuarial calculations and actuarial methodology in a controlled environment
• Execute actuarial model risk management framework including model development and testing
• Apply technical expertise to support Operations and Valuation teams and ensure successful implementation of new business leading to accurate and reliable financial reporting
• Think creatively and exercise sound judgment in leading projects

Benefits

• Health and Wellness: We offer a range of medical, dental and vision insurance plans, as well as mental health support and wellness initiatives to promote overall well-being.
• Retirement Savings: We offer retirement benefits options, which vary by location. In the U.S., our competitive 401(k) Plan offers a generous dollar-for-dollar Company matching contribution of up to 6% of eligible pay and a Company contribution equal to 3% of eligible pay (subject to annual IRS limits and Plan terms). These Company contributions vest immediately.
• Employee Assistance Program: Confidential counseling services and resources are available to all employees.
• Matching charitable donations: Corebridge matches donations to tax-exempt organizations 1:1, up to $5,000.
• Volunteer Time Off: Employees may use up to 16 volunteer hours annually to support activities that enhance and serve communities where employees live and work.
• Paid Time Off: Eligible employees start off with at least 24 Paid Time Off (PTO) days so they can take time off for themselves and their families when they need it.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 5,001-10,000 employees