Assistant Actuary - Actuarial Support (PAS3)

ProSidian Seeks a Assistant Actuary - Actuarial Support (PAS3) (CONUS - Washington, DC (Remote) | Senior Consultant - 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 an Team that provides Federal Financial Services Sector-related Management And Operations Consulting Solutions for Actuarial Support for Multiemployer Special Financial Assistance Services.

This service supports Capital Markets Sector Clients (For Present / Future Requirements) and ProSidian Team Members work as part of a Team to fulfill requirements for a shall participate on Teams and contribute to deliverables that assess potential risks of company decisions or situations using statistics, financial theories, and mathematics.  The candidate works as part of an 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 a company's financial risks.

The Assistant Actuary shall be a data-driven professional interested in working with market leading tools and technology to participate on Teams, contribute guidance, and support requirements of clients and Teams of professionals who help clients assess benefit program and organizational risk by leveraging advanced analytics within their federal and/or 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

As a Assistant Actuary within our Government & Public Services (GPS) Team you participate on Teams in the analysis of  financial consequences of risk.  Other duties and responsibilities include:

• Studying statistical data for the purpose of creating 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 pay out
• 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/or 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

Assistant Actuary - Actuarial Support (PAS3) 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 reports to track 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 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 application.
• Review assumptions and supporting documentation as they relate to the cash flow projections and other actuarial calculations included in application.
• Identify any proposed change in actuarial assumptions from the pre-2021 zone status certification. If changes are proposed, review 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 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 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 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 Team's work or concerning other actuarial issues may be required by the PBGC.
• Analysis of legislation proposals: The Team shall provide support as needed for purposes of analyzing 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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