Senior Defined Benefit Actuarial Consultant (Mercer (US) Inc. –Los Angeles, CA) EXTERNAL
Location: Los Angeles, California, United States
Company: MercerJob ID R_060305-en Apply
TITLE: Senior Defined Benefit Actuarial Consultant (Mercer (US) Inc. – Los Angeles, CA)
- Manage clientrelationships and delivery of Mercer services to clients.Direct and support funding and accounting valuations of client pension and benefits plans and other routine actuarial projects.
- Review and interpret plan documents, employee benefit statements and annual government reports.
- Provide funding and accounting valuations; costings for funding, accounting strategy, and unionnegotiation purposes; assistance in understanding the short-and long-term funding and accounting impact of plan design.
- Develop, implement, and monitor internal and external project plans for complex actuarial and non-actuarial pension and benefits related projects, such as vested terminated cash outs, retiree annuity buyouts, plan terminations assumption studies, early retirement windows, plan design studies, and provide support for plan administration.
- Serve as the point person for clientcontact and communication by developing and strengthening clientrelationships, proactively identifying potential problems, and effectively resolving emerging client issues.
- Continuously engage with clients to ensure understanding of clientconcerns and issues. Routinely assess changing economic and legislativelandscape for potential impact to client'srisk management, financial or HR strategy.
- Consult with and advise clients to collaborativelydevelop, optimize, and execute retirement plan strategies. Leadclient meetings and presentations, and develop supporting meeting materials. Liaise with legal, communications, administration, investment, DC,health, and careerconsultants to leverage Mercer resources to deliverclient solutions across multiple lines of business. Develop budgets and timelines for delivery of Mercer services and manage delivery of services within these parameters. Prepare client engagement documents and manage client invoicing.
- Communicate with clientsregarding budgets and timelines, engagements and fee arrangements, and invoices to clients for services.
- Supervise junior team members and provide support for setting and attaining developmental and career goals.
- Collaborate with Mercer colleagues to develop best in class responses to RFPs.
- Must have Bachelor's degree or foreign equivalent plus seven (7) years of progressively responsible experience in the job offered or as a Principal, Actuarial Associate, or a related position. Must have seven (7) years of progressively responsible experience with:
- supporting clients in managing risks related to their pension and benefits programs; leveraging resources to provide solutions to a wide range of client issues relating to pensions, benefits, investments, insurance, administration, legal concerns, communications, HR and finance concerns;
- developing and managing client relationships;
- providing pension and benefits related consulting services to clients;
- leading in client meetings and presentations; assisting clients with understanding the HR and financial impact of potential pension and benefits changes for union negotiation purposes;
- explaining and presenting complex actuarial and pension concepts to non-technical audiences;
- performing actuarial valuations and developing retirement solutions for pension consulting projects; utilizing Canadian, U.S. and international accounting standards, including CICA, ASC 715, ASC 960, IAS 19 in developing retirement solutions;
- utilizing knowledge of valuation and stochastic modeling methods in providing consulting services and funding and accounting valuations;
- helping clients maintain regulatory compliance, including drafting and reviewing plan documents and amendments, and providing assistance in managing governance activities; and managing internal project teams in delivering core and non-core services to clients including developing and managing budgets and invoicing.
- Must hold the Fellow of the Society of Actuaries (FSA) designation.
At Mercer, we make a difference in the lives of more than 110 million people every day by advancing their health, wealth, and careers. We’re in the business of creating more secure and rewarding futures for our clients and their employees — whether we’re designing affordable health plans, assuring income for retirement or aligning workers with workforce needs. Using analysis and insights as catalysts for change, we anticipate and understand the individual impact of business decisions, now and in the future. We see people’s current and future needs through a lens of innovation, and our holistic view, specialized expertise, and deep analytical rigor underpin each and every idea and solution we offer. For more than 70 years, we’ve turned our insights into actions, enabling people around the globe to live, work, and retire well. We embrace a culture that celebrates and promotes the many backgrounds, heritages and perspectives of our colleagues and clients. At Mercer, we say we Make Tomorrow, Today. Visit www.mercer.com for more information and follow us on LinkedIn and Twitter @Mercer
Marsh & McLennan Companies offers competitive salaries and comprehensive benefits and programs including: health and welfare, tuition assistance, 401K, employee assistance program, domestic partnership benefits, career mobility, employee network groups, volunteer opportunities, and other programs. For more information about our company, please visit us at: http://www.mmc.com/. We embrace a culture that celebrates and promotes the many backgrounds, heritages and perspectives of our colleagues and clients. For more information, please visit us at: www.mmc.com/diversity.
Mercer LLC and its separately incorporated operating entities around the world are part of Marsh & McLennan Companies, a publicly held company (ticker symbol: MMC).
Marsh & McLennan Companies and its Affiliates are EOE Minority/Female/Disability/Vet/Sexual Orientation/Gender Identity employers.