Senior Investment Actuarial Analyst - OEB

Federal Reserve Bank of Philadelphia•Newark, NJ

1d•Onsite

About The Position

As an employee of the Atlanta Fed working for the Office of Employee Benefits (OEB) in the Newark, NJ office, you will help support our mission of promoting the stability and efficiency of the U.S. economy and financial system. Your work will affect the economy of the Southeast, the United States, and the world. The work we do here is important, and how we do it is just as important as what we do. We live our values of integrity, excellence, and respect every day. We do the right thing, we do things right, and we treat people right. A career at the Federal Reserve Bank of Atlanta gives you the chance to do work that touches lives and helps communities prosper. Onsite Work Expectations: The Bank believes in flexibility to balance the demands of work and life while also recognizing the necessity of connecting and collaborating with our colleagues in person. Onsite work is an essential function of this position, and you are required to be onsite according to the schedule set by your management. Assists with analyses and calculations that will support the maintenance of the Federal Reserve’s retirement and health and welfare benefits programs. Also participates in the investment of the System’s Retirement and Thrift Plan portfolios particularly as it relates to strategies intended to mitigate financial risk to the System and/or its participants. Must maintain broad-based knowledge and exposure to various aspects of benefits plan management and investments.

Requirements

Strong technical knowledge of ERISA, the Internal Revenue Code, and applicable regulations and financial accounting standards as they pertain to the Federal Reserve’s benefit programs.
Understanding of asset/liability matching approaches.
Experience working with either pension or health & welfare actuarial calculations.
Knowledge of retiree medical funding approaches, trusts and accounting.
Some accounting background (particularly as it relates to benefit plans)
Proficiency with a variety of data analysis and data manipulation tools.
Understanding of investment markets and principles (particularly fixed income investments)
Bachelor ’ s degree in mathematics, actuarial science, accounting, management information systems or finance
Seven+ years of experience in the areas of actuarial analysis or statistical development of various pension, health & welfare and other accrued benefit plans preferred.

Nice To Haves

Experience working as, or with, enrolled, investment or healthcare actuaries are desirable.
MBA or Chartered Financial Analyst (CFA) designation preferred.

Responsibilities

Conduct complex actuarial analyses and calculations to support the maintenance of the Federal Reserve's Retirement and Health & Welfare benefits programs.
Facilitate the collection and review of data and data action plan for actuarial reporting and valuation activities. Validate results with appropriate stakeholders.
Participate in the investment of the System's Retirement and Thrift Plan portfolios, with a focus on mitigating financial risk to the System and its participants.
Assist in periodic asset class reviews and investment manager RFP’s.
Lead research and development of funding analyses for the Retirement Plan.
Collaborate with external partners (e.g. independent actuary), stakeholders, plan participants, and Federal Reserve System partners (e.g., Finance & Accounting) on various actuarial projects.
Monitor and analyze emerging trends in participant behavior, utilization rates, etc., and develop recommendations based on findings.
Assist with enhancements to actuarial control processes, such as reviewing and balancing controls, to ensure accurate and ongoing processes are in place.
Demonstrate expert understanding of asset/liability matching approaches and their application to the Retirement Plan.
Possess a strong understanding of investment markets and principles, particularly fixed income and investment strategies relevant to pension actuarial calculations.
Work effectively with cross-functional teams to integrate actuarial and investment insights into broader financial and operational strategies.
Communicate complex actuarial concepts and findings to non-actuarial stakeholders in a clear and concise manner.
Provide mentorship and guidance to junior staff and other team members, fostering a culture of learning and professional development.
Assist with developing presentations, training sessions and ad-hoc analyses for Reserve Bank partners.
Lead processes and projects with measurable outcomes.
Lead or contribute to special projects and initiatives that require actuarial expertise, ensuring timely and successful completion.