Actuarial Analyst

Usi Holdings Corporation - Cleveland, OH

Full-time - Entry Level

Cleveland, OH

Insurance Carriers and Related Activities

About the position

The Defined Benefits Actuarial Analyst at USI Holdings Corporation is responsible for performing analysis and calculations necessary for client pension projects. This role involves managing multiple client projects simultaneously, ensuring timely and accurate deliverables while working independently with limited supervision. The analyst will also participate in training sessions to enhance their skills and knowledge in actuarial practices.

Responsibilities

• Attend scheduled training sessions over a 12-18 month period to gain familiarity and competency in the Actuarial Analyst role.
• Draft the actuarial valuation and maintain plan record keeping for assigned clients, finalizing after actuarial review.
• Maintain turnaround time to meet client requirements and departmental timing standards.
• Draft the participant annual funding notice and actuarial AFTAP certification.
• Complete IRS Form 5500, along with appropriate schedules and attachments, and deliver it in a timely manner to the client.
• Complete the Pension Benefit Guaranty Corporation (PBGC) Comprehensive Premium Form for determining premium payments to comply with PBGC regulations.
• Draft the ASC 715 Pension Expense Calculation and Disclosure Statement, ensuring timely delivery to assigned clients.
• Formulate and process benefit calculations and projected benefit estimates.
• Facilitate communication between the client and the actuary for assigned clients.
• Draft correspondence between USICG and the client.
• Complete special project assignments as requested by the client or actuary.
• Work within various software applications to efficiently complete client assignments.
• Foster and maintain a friendly and collaborative atmosphere within the department and company.

Requirements

• Bachelor's degree in Mathematics, Actuarial Science, Computer Science, or Finance.
• 1-3 years of post-education pension actuarial experience.
• Functional in MS Office software (Word, Excel).
• Strong analytical and communication skills.
• Ability to multi-task and juggle priorities.
• Flexibility to work overtime to meet client demands.
• Team-oriented.

Nice-to-haves

• Completion of actuarial exams is not required.

Benefits

• Health savings account
• Paid holidays
• Disability insurance
• Health insurance
• Dental insurance
• 401(k)
• Paid time off
• Family leave
• Vision insurance
• Life insurance