Duties

Summary

This position is located in the Pension Benefit Guaranty Corporation's (PBGC), Office of Negotiations and Restructuring (ONR), Negotiations and Restructuring Actuarial Department (NRAD), Negotiations and Restructuring Actuarial Division (NRAD).

More than one selection may be made from this vacancy announcement.

THIS VACANCY ANNOUNCEMENT IS BEING ADVERTISED UNDER THE DIRECT HIRE APPOINTING AUTHORITY.

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Responsibilities

As an Actuary in the Negotiations and Restructuring Actuarial Division (NRAD), you will:

Be responsible for formulating and conducting complex studies of major corporations, unions and industries with respect to their unique, intricately structured pension plans in order to assess and make recommendations related to their impact on PBGC.

Participate in the assessment of transactions potentially affecting the funded status of single-employer pension plans, including determination of unfunded benefit liability (UBL), unfunded guaranteed liability (UGL), due/unpaid employer contributions (DUECs), and §430(k) liens.

Plan and develop long-range actuarial studies related to all PBGC-covered pension plans. These tasks include, assisting in the development of negotiating strategies, providing analysis of settlement proposals, and conducting studies of the financial viability of plans.

Participate in the review of applications from multiemployer pension plan sponsors for benefit suspension, plan partitions, facilitated mergers, and special financial assistance.

Participate, as needed, in the determination of contingent liabilities included in PBGC's Financial Statement for both single-employer and multiemployer plans.

Develop actuarial models for projecting pension plan assets and liabilities, cash flows, and contribution requirements, and test their sensitivity to changes in projection assumptions, benefit levels and contribution schedules.

Plan and direct contract actuaries, perform a variety of pre-award and post award activities; prepare Statements of Work and technical evaluation criteria, participate in the technical evaluation of proposals, maintain close surveillance of contractors' progress, regularly document contract status, accept or reject invoices submitted by the Contracting Officer, and serve as Contracting Officer's Representative (COR).

Participate with the Chief Negotiating Actuary in developing policies, procedures, and standard techniques for application to the actuarial work of the division and to support other required quantitative analyses. Evaluate legislative and regulatory proposals for all PBGC-covered pension plans and make recommendations on the drafting of regulations.

Travel Required

Occasional travel - less than 10%

Supervisory status
No

Promotion Potential
14

Requirements

Conditions of Employment

• You must be a U.S. citizen
• You may undergo a personnel security background investigation
• Selective Service registration required for male applicants, unless exempt
• 1 year probationary period required unless met during prior Federal service
• Applicants selected for employment will be required to complete an OF-306

Qualifications

All qualification and eligibility requirements must be met by the announcement closing date.

You may start at GS-14 step 1 of the grade with an annual salary of $122,530.00, if you meet the following minimum qualification requirements (in addition to the education requirement).

Specialized Experience: Specialized experience is defined as one year of experience at the GS-13 grade level in the Federal service or equivalent to the GS-13 grade level in the private sector 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 valuations of defined benefit plans, certification of zone status of multiemployer pension plans under IRC Sec 432, 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.

Education

BASIC REQUIREMENTS:

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.

Education must be accredited by an accrediting institution recognized by the U.S. Department of Education in order for it to be credited towards qualifications. Therefore, provide only the attendance and/or degrees from schools accredited by accrediting institutions recognized by the U.S. Department of Education.

In addition, the following actuarial credentials are desired, but not required: Associate of Society of Actuaries (ASA), Enrolled Actuary (EA), and/or Fellow of the Society of Actuaries (FSA).

Additional information

This vacancy announcement is to solicit applications for current and/or future vacancies.

PBGC encourages qualified applicants with disabilities to apply. Applicants with disabilities who are interested in learning more about job opportunities under available hiring flexibilities and authorities are encouraged to contact PBGC's Selective Placement Program Coordinator, Donald Beasley, at (202) 229-3637 or Beasley.donald@pbgc.gov. TTY/TDD users should call the federal relay service at (800) 877-8339 and ask to be connected to (800) 400-7242.

All Veterans are encouraged to visit CareerOne for resume writing tips and skill conversion terms.

Interagency Career Transition Assistance Programs: These programs apply to employees who have been involuntarily separated from a Federal service position within the competitive service or Federal service employees whose positions have been deemed surplus or no longer needed. To receive selection priority for this position, you must: 1) meet CTAP or ICTAP eligibility criteria; 2) be rated well-qualified for the position with a score of 80 or above based on the competencies listed above (which is equivalent to PBGC's "Silver" quality category); and 3) submit the appropriate documentation to support your CTAP or ICTAP eligibility. For more information visit: Interagency Career Transition Assistance Programs .

If you believe that you have been subjected to discrimination, you may contact the PBGC Office of Equal Employment Opportunity (OEEO):

OEEO Main Office Phone: 202-229-4363

Email: EEO@PBGC.gov

Due to the COVID-19 pandemic, PBGC is currently operating under maximum telework flexibilities. However, all Federal agencies will begin a phased transition to normal operations.

How You Will Be Evaluated

You will be evaluated for this job based on how well you meet the qualifications above.

THIS VACANCY ANNOUNCEMENT IS BEING ADVERTISED UNDER THE DIRECT HIRE APPOINTING AUTHORITY.

• There will be no applicant self-assessment or rating and ranking process.
• You will be evaluated for this job based on whether you meet the minimum qualification requirements listed above.
• Under the provisions of the Direct-Hire Appointing Authority, veterans' preference does not apply.

We will review your resume and supporting documentation to ensure you meet the minimum qualification requirements.

To preview questions please click here .

Background checks and security clearance

Security clearance
Other

Drug test required
No

Position sensitivity and risk
High Risk (HR)

Trust determination process
Suitability/Fitness

Required Documents

The following documents are required and must be provided with your application for this Public Notice:

RESUME: You must submit a resume. Your resume should clearly show your possession of the specialized experience so that we can determine your qualifications for this position. Your resume should be specific to the position you are applying for, relating your skills and experience to those noted in the job posting.

COVER LETTER (OPTIONAL): Your cover letter should state your interest in this position and the strengths that you feel will make you an asset to the Pension Benefit Guaranty Corporation. We will not use your cover letter to determine your qualifications; however, your cover letter will go to the Selecting Official along with your resume if you are referred.

TRANSCRIPT(S): This position has a positive education requirement. You must submit transcripts to verify that you meet the education requirement for this position. Information on the specific education requirement can be found under the Qualifications and Evaluations tab in the vacancy announcement. Your transcripts should include course titles, school name/location, date completed, grades, and number of credits earned. Applicants who obtained their qualifying education outside of the U.S. and its territories must provide proof that their degrees have been validated as equivalent to a degree conferred by a college or university in the U.S. Unofficial transcripts may be submitted with your application; however, you must bring official transcripts with your first day if you are hired. PLEASE NOTE: If you are currently serving or have previously served in the series for which this position is being advertised, you do not need to submit a transcript(s), however you must submit an SF-50 that shows proof of your having been in the series. Please see the Qualifications and Evaluations section of this announcement for additional information.

Interagency Career Transition Assistance Programs: CTAP and ICTAP candidates must submit documents showing eligibility for selection priority (e.g., RIF separation notice, Certificate of Expected Separation, or other proof of eligibility for priority selection); an SF-50 showing the current (or former) position, grade level, promotion potential, and duty location; and the most current performance appraisal including the performance rating.

Failure to submit the required documents will result in an incomplete application.