Actuarial Analyst

USI Insurance Services - Cleveland, OH

Full-time - Entry Level

Cleveland, OH

Insurance Carriers and Related Activities

About the position

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

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.
• Draft the participant annual funding notice and actuarial AFTAP certification.
• Complete IRS Form 5500, along with appropriate schedules and attachments, and deliver it in an appropriate timeframe 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, drafting correspondence as needed.
• Complete special project assignments as requested by the client or actuary.
• Work efficiently within various software applications to complete client assignments.
• Foster and maintain a friendly and collaborative atmosphere within the department and company.

Requirements

• Bachelor 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

• Medical insurance
• Wellness programs
• Dental insurance
• Vision insurance
• 401(k) plan
• Flexible spending accounts
• Health savings accounts
• Short and long-term disability insurance
• Life insurance
• Paid time off policy
• Paid family leave benefit
• Paid holiday time