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CUNA Mutual Group

Enrolled Actuary

CUNA Mutual Group - Madison, WI

Enrolled Actuary

in

Madison

Wisconsin

Job Purpose:

Assist the Director of Enrolled Actuaries in providing timely, quality, valuation results to clients.

Perform pricing and reserving calculation for Pension Risk Transfer annuity product.

Manage defined benefit plan specialists in the completion of all defined benefit work.

Support CUNA Mutual Retirement Solutions and clients by serving as a valuable resource of defined benefit pension knowledge.

This role reports to the Director of Enrolled Actuary Services.

Job Responsibilities:

Reviewing Valuations Results and Benefit Calculations (40%)

Review defined benefit census data for reasonableness

Review asset data for valuation purposes

Reviewing valuation assumptions including pre/post retirement mortality tables, turnover, retirement, disability, and salary scale assumptions

Reviewing defined benefit plan liabilities and normal costs

Review minimum and maximum deductible contribution calculations including quarterly contributions

Review complex benefit calculations including accrued benefits, pension vesting service, pension benefit service, normal retirement ages, and optional forms of payment

Apply EA knowledge to verify that benefit calculations comply with 415 benefit limits

Review death and disability benefit calculations, QDRO benefit calculations, large lump sum distributions

Calculate actuarial increases for delayed retirement payments and calculate required minimum distribution payments

Interpret plan document language as it relates to plan design and benefit calculations

Review benefit statements

Work with FIS on the distribution of defined benefit payments

Prepare valuation reports and results presentations that include documentation of assumptions and methods used according to ASOPS

Calculating ASC 715 benefit expense and balance sheet liabilities including setting reasonable assumptions

Effectively communicate with the plan sponsor, auditor and IRS or DOL

Support Pension Risk Transfer Product (30%)

Evaluate potential deals, set and review assumptions and perform pricing calculations

Perform reserving calculation quarterly or as needed and communicate results with corporate finance

Set up administrative systems to facilitate benefit calculation and preparation of distribution forms and to support client service personnel

Review calculations and distribution forms prepared by specialists

Special Projects (20%)

Performing Nondiscrimination tests including 410(b) and 401(a)(4)

Completing Top Heavy Tests

Reviewing and signing government forms for determining PBGC premium payments

Reviewing IRS 5500 filings including schedule SB’s

Developing new combined DB/DC plan proposals based on specific client needs that pass nondiscrimination tests

Assist with regulatory plan audit requests

Review annual funding notices

Review plan amendments and curtailments

Review plan document restatements

Preparing 204(h) notices

Calculating frozen benefits and restricted benefits

Review plan termination benefit calculations

Share ideas, knowledge and concepts across the organization

Serve as People Manager to Plan Specialists (5%)

Schedule 1 on 1’s with DB Plan Specialists

Answer questions from Plan Specialists

Monitor workload and reassign as needed

Serve as mentor

Maintain Designations and Update Regulatory Knowledge (5%)

Maintain EA and ASA designations in good standing by completing necessary continuing education credits

Update job knowledge through a combination of self-studying, attending EA meetings, participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations

Share ideas, knowledge and concepts across the organization

Job Requirements:

Bachelor's Degree in Actuarial Science, Mathematics, Statistics or equivalent trade-off in professional related work experience

Minimum of seven years in defined benefit pension experience

ASA or FSA designation and Enrolled Actuaries designation in good standing

Demonstrated knowledge in current government regulations regarding pension plans, PBGC forms, ERISA regulations, DOL/IRS forms, Top heavy test, 415 benefit limits, Nondiscrimination testing, cash balance plans, and final average pay plans

Demonstrated ability to manage and train junior employees

Demonstrated experience answering client questions

CUNA Mutual Group’s insurance, retirement and investment products provide financial security and protection to credit unions and their members worldwide. As a dynamic and growing company, we strive to create a culture of performance, high standards and defined values. In return for your skills and contributions, we offer highly competitive compensation and benefit packages, significant professional growth, and the opportunity to win and be rewarded.

Please provide your Work Experience and Education or attach a copy of your resume. Applications received without this information may be removed from consideration.

For more than 80 years, CUNA Mutual Group has worked tirelessly to deliver product and service solutions that meet the unique challenges and needs of credit unions and their members. Our vision is unwavering: to be a trusted business partner who delivers service excellence with customer-focused, best-in-class products and market-driven innovation.

Discover for yourself the difference we can make for you.

Apply Now

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24 days 9 hours ago

CUNA Mutual Group

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Enrolled Actuary CUNA Mutual Group - Madison, WI, United States

   

Location: Madison, WI

Company Profile:
For more than 75 years, CUNA Mutual Group has worked tirelessly to deliver product and service solutions that meet the unique challenges and needs of credit unions and their members. Our vision is unwavering: to be a trusted business partner who delivers service excellence with customer-focused, best-in-class products and market-driven innovation.