SummaryThis 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.
DutiesHelp
The candidate selected for this position will:
- Establish principles and procedures for quarterly actuarial valuations of the single-employer and multiemployer programs; evaluate and select plan data sources; and 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.
- Provide support to 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.
RequirementsHelp
Conditions of employment- 1-year probationary period required unless met during prior Federal service.
QualificationsAll qualification requirements must be met within 30 days of the announcement closing date.To meet the minimum qualifications for this position, you must meet the specialized experience qualifications and/or education for the grade at which you are requesting consideration.
Specialized Experience: Applicants must have at least one year of specialized experience at the
GS-13 grade level in the Federal service or equivalent to the
GS-13 grade level in the private sector performing complex actuarial work for defined benefit pension plans, including 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.
Examples include: reviewing complex participant benefit calculations; resolving unusual post valuation actuarial issues; developing actuarial procedures; or evaluating actuarial software specifications and test results.
Time-In-Grade Requirement: In order to be eligible for this position, all current Federal employees must provide proof of meeting the time-in-grade requirement (i.e., at least 52 weeks of experience at the next lower grade level in the Federal service). This information must be in both your resume and on an SF-50. Those who do not provide proof of having met the time-in-grade requirement will be deemed ineligible for this position.
Experience refers to paid and unpaid experience, including volunteer work done through National Service programs (e.g., Peace Corps, AmeriCorps) and other organizations (e.g., professional; philanthropic; religious; spiritual; community; student; social). You will receive credit for all qualifying experience, including volunteer experience. Your resume must clearly describe your relevant experience; if qualifying based on education, your transcripts will be required as part of your application.
EducationIn order to qualify for this position, you must possess the following education:
A bachelor's degree that included courses in actuarial science, mathematics, relevant statistics, business, finance, economics, insurance, or computer science totaling at least 24 semester hours. This course work must have included a minimum of 12 semester hours of mathematics that included differential and integral calculus and one or more courses in mathematics for which these calculus courses were prerequisites.
Education must be accredited by an accrediting institution recognized by the U.S. Department of Education in order for it to be credited towards qualifications. Therefore, provide only the attendance and/or degrees from schools accredited by accrediting institutions recognized by the U.S. Department of Education.
You must submit transcripts to verify that you meet the education requirement.
Additional informationCandidates should be committed to improving the efficiency of the Federal government, passionate about the ideals of our American republic, and committed to upholding the rule of law and the United States Constitution.
BenefitsHelp
A career with the U.S. government provides employees with a comprehensive benefits package. As a federal employee, you and your family will have access to a range of benefits that are designed to make your federal career very rewarding. Opens in a new windowLearn more about federal benefits.
Visit PBGC Benefits for information on our Agency Benefits offered.
Eligibility for benefits depends on the type of position you hold and whether your position is full-time, part-time or intermittent. Contact the hiring agency for more information on the specific benefits offered.
