OverviewResponsibilitiesEssential Duties:Actuarial Valuations & Compliance- Prepare annual actuarial valuations for small defined benefit plans and cash balance plans.
- Calculate minimum and maximum deductible contribution requirements under applicable regulations.
- Determine funding requirements and contribution recommendations for plan sponsors.
- Prepare Schedule SB and other required IRS and Department of Labor filings.
- Ensure compliance with ERISA, Internal Revenue Code, and related regulatory requirements.
- Assist with plan terminations, freezes, mergers, and other plan amendments.
Consulting & Client Service- Serve as the primary actuarial consultant for assigned clients.
- Communicate valuation results, funding strategies, and plan design recommendations to business owners, financial advisors, CPAs, and attorneys.
- Respond to client inquiries regarding pension regulations, contribution limits, and plan administration.
- Conduct retirement benefit projections and participant calculations.
Technical Analysis- Perform pension funding and liability calculations.
- Analyze census data and validate participant records.
- Review actuarial assumptions and recommend appropriate methodologies.
- Research legislative and regulatory developments affecting qualified retirement plans.
Collaboration- Work closely with third-party administrators (TPAs), recordkeepers, investment advisors, and internal service teams.
- Support new business opportunities through plan design illustrations and sales consultations.
- Mentor junior actuarial analysts and review work products as needed.
- Maintain proficient knowledge of, and demonstrate ongoing compliance with all laws and regulations applicable to this position, ensure ongoing adherence to policies, procedures, and internal controls, and meet all training requirements in a timely manner
- All applicants must be 18 years of age or older.
Ancillary/Secondary Duties:- As requested by manager or necessary to obtain necessary business goals and objectives.
QualificationsEducation, Training, Experience, and Skill Requirements:Experience:Required- Active Enrolled Actuary (EA) designation with the Joint Board for the Enrollment of Actuaries.
- Bachelor's degree in Actuarial Science, Mathematics, Statistics, Finance, Economics, or a related field.
- 5+ years of experience working with defined benefit and/or cash balance retirement plans.
Strong knowledge of: - ERISA
- Internal Revenue Code qualification requirements
- Pension funding regulations
- Schedule SB preparation
- Defined benefit plan design and administration
- Proficiency with actuarial software and Microsoft Excel.
- Excellent analytical, communication, and client relationship skills.
Preferred- ASA, FSA, EA, MAAA, or progress toward actuarial credentials.
- Experience with owner-only, professional practice, and closely held business retirement plans.
- Knowledge of pension administration systems and compliance software.
- Experience working in a consulting environment.
Competencies- Strong attention to detail and accuracy.
- Exceptional quantitative and analytical abilities.
- Ability to explain technical concepts to non-technical audiences.
- Client-service orientation.
- Strong organizational and project management skills.
- Ability to manage multiple deadlines simultaneously.
- Problem-solving and critical thinking capabilities.
Other Job InformationCompensation: Commensurate with experience plus potential for annual merit increase. In addition to your competitive salary, you will be rewarded benefits including: 11 paid holidays, paid vacation, Medical, Vision & Dental insurance, 401K with generous match, Pension, Tuition Reimbursement, Banking discounts and the list goes on!
Physical Requirements:The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee may be required to stand, walk or sit. Use hands and fingers, handle or feel, reach with hands or arms, and speak and hear. The employee may occasionally be required to lift and or move up to 25 pounds. Specific vision abilities required by this job include close vision, and the ability to focus.
MinimumUSD $106,000.00/Yr.
MaximumUSD $196,775.00/Yr.
