Associate Actuary - Actuarial Support (PAS2)

Associate Actuary - Actuarial Support (PAS2)

ProSidian is a Management and Operations Consulting Services Firm focusing on providing value to clients through tailored solutions based on industry-leading practices. ProSidian services focus on the broad spectrum of Enterprise Solutions for Risk Management | Compliance | Business Process | IT Effectiveness | Energy & Sustainability | Human Capital. We help forward-thinking clients solve problems and improve operations. Launched by former Big 4 Management Consultants; our multidisciplinary teams bring together the talents of nearly 190 professionals nationally to complete a wide variety of engagements for Private Companies, Fortune 1,000 Enterprises, and Government Agencies of all sizes. Our Services are deployed across the enterprise, target drivers of economic profit (growth, margin and efficiency), and are aligned at the intersections of assets, processes, policies and people delivering value. ProSidian clients represent a broad spectrum of industries to include but are not limited to Energy, Manufacturing, Chemical, Retail, Healthcare, Telecommunications, Hospitality, Pharmaceuticals, Banking & Financial Services, Transportation, Federal and State Government Agencies.

Job Description

ProSidian Seeks a Associate Actuary - Actuarial Support (PAS2) (CONUS - Washington, DC (Remote) | Program Manager - Full-Time) to support an engagement for a federally chartered corporation that encourage the continuation and maintenance of voluntary private defined benefit pension plans. The candidate works as part of a team that provides Federal Financial Services Sector-related Management And Operations Consulting Solutions for Actuarial Support for Multi-employer Special Financial Assistance Services.

This service supports Capital Markets ProSidian Job Title Sector Clients (For Present / Future Requirements) and ProSidian Team Members work as part of a team to fulfill requirements for a shall support, lead. Direct engagement teams and contribute to deliverables that assess potential risks of company decisions or situations using statistics, financial theories, and mathematics. In addition, the candidate works as part of a team that provides Federal Financial Services Sector-related Management And Operations Consulting Solutions for Actuarial Support for Multiemployer Special Financial Assistance Services. Their duties include estimating probabilities of the success of certain business decisions, projecting costs of potential natural disasters, deaths, or sicknesses of company employees, and designing insurance policies or business strategies to reduce their financial risks.

The Associate Actuary shall be a data-driven professional interested in working with market-leading tools and technology to support, lead. Direct engagement teams, contribute guidance, and support clients' requirements and Engagement Teams of professionals who help clients assess benefit program and organizational risk by leveraging advanced analytics within their federal and public sector organization's environment. This role offers the opportunity to advise clients through critical and complex benefit and risk issues while allowing you to develop personally and professionally.

Other duties and responsibilities include:

• Studying statistical data to create an analysis
• Creating estimates of probability and likely costs for a given event such as death, natural disaster, or sickness.
• Calculating how insurance policies for different types of coverage are likely to payout
• Generating charts and presenting them at meetings along with explaining the information
• Analyzing reports to determine next steps for the company or client
• Participate in and lead the development of deliverable content that meets the needs of the client and contract
• Anticipate client needs and formulate solutions to client issues
• Review deliverables for accuracy and quality
• Provide coaching to junior staff
• Contribute to new business proposals and proposal development
• Manage own personal and professional development; seeks opportunities for professional growth and expansion of consulting skills and experiences

This position shall be designated "Key Personnel." The key personnel are essential to the successful performance of the contract and will assure consistent management control and direction. As a condition of employment, the Associate Actuary is required to maintain Govt. | Client Data in the strictest confidence and agrees not to publish, reproduce, or otherwise divulge Govt. | Client Data in whole or in part, any manner or form, nor to authorize or permit others to do so, taking such reasonable measures as are necessary to limit access to Govt. | Client Data to those contractor employees needing such information to perform the work required under this contract.

Associate Actuary - Actuarial Support (PAS2) Candidates shall work to support requirements for (Actuarial Support Services) and contribute to client deliverables related to Performance Area I: Special Financial Assistance (SFA) implementation reporting and monitoring as well as Special Financial Assistance (SFA) application reviews. In addition, provide Surge Support as part of Performance Area II for Multiemployer Special Financial Assistance (SFA) Actuarial Support:

A1] Performance Area I: Special Financial Assistance (SFA) implementation, reporting, and monitoring:

• Assist NRAD in the development and documentation of standard procedures to address requests from the plan for approval of SFA.
• Review eligibility and priority groups for plans that apply for SFA.
• Review and update report to track the status of active cases completed and in progress with respect to SFA.
• Review and update the standard report for presentation and certification of results of each SFA application review.
• Train PBGC staff on SFA application review.
• Prepare and develop case reporting for internal and external stakeholders.
• Review financial and actuarial determinations post-approval of SFA with respect to transactions such as mergers, transfers, and withdrawal liability settlements.
• Monitor plans that receive SFA for compliance with conditions.

A2] Performance Area I: Special Financial Assistance (SFA) application reviews

• Review the application information, including the organization of the information in NRAD's systems, for completeness.
• Review certification of plan status, actuarial valuation reports and other actuarial reports provided in the application.
• Review cash flow projections and actuarial calculations included in the application.
• Review assumptions and supporting documentation related to the cash flow projections and other actuarial calculations included in the application.
• Identify any proposed change in actuarial assumptions from the pre-2021 zone status certification. If changes are proposed, review the information submitted in support of conclusion that the existing assumption is no longer reasonable and that the proposed assumption is reasonable.
• Review calculation of the amount of SFA.
• Prepare summary of financial and actuarial information included in the application for SFA.
• Review actuarial assumptions, plan provisions, projected benefits, contribution projections, investment rate of return, repayment of suspended benefits (if any), new entrant assumption, and historical data for accuracy and completeness.
• As requested, review census data and produce projected benefits reflecting plan provisions.
• Prepare report to present findings and formal actuarial certification of the results of the SFA application review.

B1] Performance Area II: Surge Support: The Contracting Officer may unilaterally execute all or a portion of this optional task area by formal modification of the contract. The ProSidian Team shall not perform work under this section without a formal modification to the contract executed by the Contracting Officer.

B2] Performance Area II: Overflow Work: The ProSidian Team shall provide the services described above under Performance Area 1, in section 2.5.1 Special Financial Assistance (SFA) implementation, reporting, and monitoring, and section 2.5.2 Special Financial Assistance (SFA) application reviews, when surge support is required to cope with periods of unanticipated workload increase and/or to provide for additional skill sets or additional hours of service to support increased mission requirements of sections 2.5.1 and 2.5.2.

B3] Performance Area II: Related Special Projects: Special projects represent a small portion of surge support but are not limited to the following:

• Litigation Support: In some instances, litigation support (testimony, depositions, etc.) defending The ProSidian Team's work or concerning other actuarial issues may require the PBGC.
• Analysis of legislation proposals: The ProSidian Team shall provide support as needed to analyze the impact of proposed laws impacting either single employer or multiemployer pension plans.
• Other Assistance as Needed: This may include but is not limited to, training on pension laws and regulations that undergo changes impacting work, analysis of the appropriateness of actuarial assumptions, and additional work to support PBGC's financial statements.

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Qualifications

ASSOCIATE ACTUARY SKILLS AND QUALIFICATIONS

Minimum Actuarial Qualifications: FSA | Minimum Pension Experience: 8 years | Minimum Pension Experience since receiving Credentials: 2 years.