Senior Actuarial Analyst

Senior Actuarial Analyst Description: For consideration for this position,please include your most recent salary.Local candites only.Please visit our website and link to
http://www.rsmmcgladrey.com/Services/Retirement-Plan/ for more information.



RSM McGladrey Retirement Resources is dedicated to helping companies on the move design, implement, and manage the right retirement plan. With more than 30 years experience we use an unbiased, objective, approach to help companies meet business goals while taking care of their employees -¬ today, tomorrow, and well into the future. We provide long-term value to plan sponsors and participants through ongoing education and communication about important changes that may have an impact on their plans. Our services help clients with every aspect of the retirement plan process, letting owners focus on what they do best - managing their business. Our experienced staff provides services for all types of qualified and nonqualified retirement plans. RSM McGladrey Retirement Resources currently serves more than 4,500 companies with more than 500,000 plan participants and $7 billion of assets.

We seek a detail oriented, experienced individual a Senior Actuarial Analyst to process our client's pension programs including daily transactions, distributions and loan reviews.
SR Analysts may be hired as pension-only, health-only or a combination of both. If focus on small plans (tax-savings) only, not necessary to have these skills

POSITION SUMMARY
The primary purpose of the Senior Actuarial Analyst position is to assist the Actuarial Consultants and Consulting Actuaries. Senior Analysts will have the opportunity to work closely with Directors. Projects include consulting to employers who sponsor pension and/or healthcare benefits for employees. The Senior Actuarial Analyst must be able to complete projects with minimal guidance from superiors.

ESSENTIAL DUTIES AND RESPONSIBILITIES
General Requirements
•Proficient with EXCEL and creation of programs to enhance efficiency
•Work with existing documents and add appropriate language for client-specific considerations
•Communicate with clients on data issues and/or results
•Serve as a mentor for summer interns or new hires
•Participate in proactive team efforts to achieve departmental and company goals, by way of following team procedures
•Initiates and prepares for upcoming deadlines independently, complete ownership of projects; work heavily reviewed by Actuarial Consultant or Consulting Actuary
•Draft preliminary bills for review with assessment of out-of-scope work performed
•Regular attendance in accordance with scheduled work hours is required

Pension SR Analyst
•Edit data; run actuarial valuations (PROVAL for pension and OPEB and ASC for tax-savings plans); prepare benefit statements
•Process government forms including IRS Form 5500 and PBGC filings
•FAS 87 (pension); FAS 106/GASB 45 (OPEB) expense and disclosure calculations2
•Process benefit calculations
•Prepare new plan documents and restatements of plans
•Plan termination filings and IRC section 401(A)(4) non-discrimination testing
•Assist on special projects (e.g. projections, plan design, nonqualified plans)

Health SR Analyst
•Data analysis and development of per capita claims costs for OPEB valuations
•Calculation of IBNR claim liabilities
•Benefit plan pricing
•Calculation of the value of health plan benefit changes
•Calculation of active and retiree contributions
•Determination of COBRA rates
•Medicare Part D actuarial attestations


QUALIFICATIONS
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and abilities required.

General
Detailed–oriented, ability to prioritize and meet multiple deadlines. Strong organizational skills, multi-tasking, initiative to learn new information and apply new concepts. Strong project management and analytical skills. Can recognize problems and propose solutions. Can work independently and contribute to the team environment. Proficient computer skills including electronic mail, record-keeping/organization of files, routine database activity, word processing, spreadsheet, graphics, etc.

Pension
Solid understanding of Funding (IRC section 412 and IRC section 404) and FASB Valuation principals. Preliminary review of (gain)/loss for valuations to assess appropriateness of liabilities. Ability to read plan documents, understand the provisions and appropriately apply them.

Health
Solid understanding of healthcare pricing principals and concepts. Solid understanding of IBNR claim liability concepts and the Developmental Method. Competent with Medicare Part D prescription drug program and the employer subsidy. Experience in provider or payor consulting.

QUALIFICATIONS/EDUCATION
Position requires strong technical abilities and product produced for review should be high-quality deliverable. Four year college or university certificate in Actuarial Science or Mathematics; 5+ years of current related experience in actuarial retirement or health plan administration with focus of defined benefit pension, OPEB, or active health actuarial concepts; preferred 4+ actuarial exams and/or EA and the intention of attaining SOA or ASPPA credentials.


Street Address: 191 North Wacker Drive, Ste. 1400
City: Chicago
State: Illinois
Position Economic Unit: Great Lakes
Position Type: Full Time
Job Type: Experienced
Degree Required: Bachelor
Travel Required: Relocation Eligible: No