Actuary - DE
CONCURRENT ANNOUNCEMENT: THIS POSITION(S) IS ALSO BEING ADVERTISED UNDER MERIT PROMOTION PROCEDURES UNDER ANNOUNCEMENT NUMBER NRAD-2017-0008. IF YOU WISH TO BE CONSIDERED UNDER THAT ANNOUNCEMENT, PLEASE REVIEW TO DETERMINE IF YOU QUALIFY.
The Pension Benefit Guaranty Corporation has a distinguished and important mission in protecting America’s pensions. At PBGC, you will use your skills in accounting, auditing, business, finance, law, actuarial science, or information technology and more, to protect the retirement income of nearly 44 million hardworking Americans. Our work is challenging, compelling, and important. Whatever your background or expertise, you will find your future at PBGC exceptionally rewarding because the work you perform will have a daily impact on the lives of relatives, friends and neighbors. It will be like no other career choice you have explored.
We are counting on bright, talented and dedicated individuals like you to achieve our goals. You will be both challenged and supported, so whether you are just starting out or looking for new opportunities, consider PBGC and start making a difference today!
If you are interested in a challenging career with great benefits, training, and strong growth potential, we strongly encourage you to apply for the Actuary today!
- Occasional Travel
- less than 10%
- Recruitment incentives (including relocation incentives) may be authorized for this position, if applicable.
All qualification requirements must be met by the closing date of the announcement.
In order to qualify for actuarial positions applicants must meet the following education qualification requirement.
A bachelor's degree that included courses in actuarial science, mathematics, relevant statistics, business, finance, economics, insurance, or computer science totaling at least 24 semester hours. This course work must have included a minimum of 12 semester hours of mathematics that included differential and integral calculus and one or more courses in mathematics for which these calculus courses were prerequisites.
In addition to the education requirements, you must also possess the following by the closing date of the announcement.
GS-13: Specialized experience is defined as one year of experience at or equivalent to the GS-12 grade level in the Federal service assisting in the application of actuarial concepts, principles, practices and procedures in support of programs related to employee pension plans, the Employee Retirement Income Security Act (ERISA), and the Internal Revenue Code (IRC). Examples may include, performing the initial actuarial calculations for defined benefit pension plans in support of Annual Financial and/or Actuarial Information Reporting (Form 4010), Notice of Single-Employer Plan Termination (Form 601), Notice of Failure to Make Required Contributions (Form 200) and/or Annual Return/Report of Employee Benefit Plan for pension plans (Form 5500) filings; and performing the initial calculation of minimum funding contributions and benefit liabilities for pension plans.
GS-14: Specialized experience is defined as one year of experience at or equivalent to the GS-13 grade level in the Federal service applying actuarial concepts, principles, practices and procedures as they pertain to employee pension plans, the Employee Retirement Income Security Act (ERISA), and the Internal Revenue Code (IRC). Examples may include, performing actuarial calculations for defined benefit pension plans in support of Annual Financial and/or Actuarial Information Reporting (Form 4010), Notice of Single-Employer Plan Termination (Form 601), Notice of Failure to Make Required Contributions (Form 200) and/or Annual Return/Report of Employee Benefit Plan for pension plans (Form 5500) filings; calculating minimum funding contributions and benefit liabilities for pension plans; and reviewing and analyzing other actuaries' calculations to determine their accuracy and resolving any discrepancies.
Note: Enrolled Actuaries and/or members of the Society of Actuaries are preferred but this is not a requirement.
Public Trust - Background Investigation
As an Actuary in the Office of Negotiations and Restructuring (ONR), Negotiations and Restructuring Actuarial Division (NRAD), you will:
Plan and develop long-range actuarial studies of the operations and funding of pension plans of major firms, assist in the development of Corporate negotiating strategies, and evaluate and respond to settlement proposals of private firms.
Develop actuarial models for projecting pension plan assets and liabilities, cash flow, and contribution requirements, and test their sensitivity to major assumption changes.
As directed by the head of the Branch, assist in the representation of Pension Benefit Guaranty Corporation interests before outside groups.
At the lower grade level, you will receive closer supervision in the performance of the above duties.
If you are hired at a level below the full performance level, you may be promoted without further competition.