Pension (Risk Transfer) Actuary, Administrator, Paralegal

Overview

The US pension underwriting team is seeking a professional with actuarial or defined benefit pension plan expertise. As the organization continues to grow, this role will support pension risk transfer and defined benefit pension underwriting and related technical work.

Depending on the candidate’s background, the successful candidate will perform one or more of the following duties:

• Underwrite, assess pension risks, perform actuarial calculations, and assemble commitment agreements from a technical perspective
• Act as an internal project manager for all technical aspects of onboarding new business across internal functions
• Serve as a pension specialist to support the call center by managing defined benefit pension benefit calculations, modeling, and testing
• Draft and review defined benefit pension provisions in contracts from the actuarial modeling and pension administration perspectives prior to documents being used by the call center, delivered to individuals, or filed with state regulators
• Lead inforce governance and special projects supporting internal functions

Responsibilities

• Explain technical actuarial and/or pension topics to the Head of US PRT in New Jersey
• Serve as the defined benefit pension plan expert within the organization
• Assess pension risks, calculate premiums, and develop customized contract terms affecting premiums or operations
• Guide onboarding and lead cross-functional collaboration
• Design or implement governance, controls, process, and procedures
• Review actuarial calculations and actuarial methodology in a controlled environment
• Execute an actuarial model risk management framework, including model development and testing
• Apply technical expertise to support Operations and Valuation teams and ensure successful implementation of new business for accurate and reliable financial reporting
• Lead projects with sound judgment and creative problem-solving

Requirements

• Defined benefit pension plan experience
• Ability to interpret and implement complex pension plan benefit provisions, including drafting documents
• At least one of the following: Pricing, Valuation, Actuarial Modeling, Pension Administration, or Contract experience
• Pension benefit calculation modeling, testing, or production experience
• Project management experience
• Self-starter comfortable working with complexity and ambiguity, with the ability to explore multiple solutions
• Awareness of governance best practices and required controls
• Competence using Microsoft Office programs; familiarity with Copilot and VBA coding is a plus
• Excellent interpersonal, written, and oral communication skills; ability to explain complex materials clearly, concisely, and in a focused manner
• Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or a related field
• Pursue or have obtained one of the following certifications:
  • Society of Actuaries
  • Enrolled Actuaries
  • American Society of Pension Professionals & Actuaries

Preferred Qualifications

• Experience supporting onboarding and cross-functional collaboration for new business
• Experience with actuarial model risk management practices

Compensation & Benefits

• Anticipated salary range: $85,000 to $95,000 at commencement of employment
• Not all candidates will be eligible for the upper end of the range. Actual compensation will depend on multiple factors, which may include geographic location, skills, experience, and other qualifications.
• Discretionary bonus: Eligible in accordance with the terms of the applicable incentive plan.

Benefits (highlights):

• Medical, dental, and vision insurance plans, mental health support, and wellness initiatives
• Retirement savings:
  • Competitive 401(k) Plan with dollar-for-dollar Company matching contribution up to 6% of eligible pay
  • Company contribution equal to 3% of eligible pay (subject to annual IRS limits and Plan terms)
  • Company contributions vest immediately
• Employee Assistance Program (confidential counseling and resources)
• Matching charitable donations: 1:1 up to $5,000
• Volunteer Time Off: up to 16 volunteer hours annually
• Paid Time Off: at least 24 PTO days to start

Location

Primary location: Jersey City, NJ. Wilmington, DE, Houston, TX, or other remote locations will also be considered.

Estimated Travel

Minimal travel. (Functional Area: UW - Underwriting; Estimated Travel Percentage: Up to 25%)

Additional Information

• Relocation provided: No
• Equal Opportunity Employer commitment and reasonable accommodation process are provided in accordance with applicable law.