Summary
This position is located in the Pension Benefit Guaranty Corporation's (PBGC), Actuarial Services & Technology Department (ASTD), Actuarial Services Present Value Future Benefits Division (ASPVFBD). More than one selection may be made from this vacancy announcement.
Duties
The candidate selected for this position will: Establish principles and procedures for quarterly actuarial valuations of the single-employer and multiemployer programs; evaluate and select plan data sources; and calculate present value of future benefits reserves and exhibits for actuarial reports. Monitor plans in the probable category for the single employer and multiemployer programs; determine PBGC present value of future benefits liabilities; prepare final quarterly and year-end figures; and summarize and reconcile valuation results. Provide support to PBGC auditors reviewing controls and financial statements by explaining actuarial methods and results, supplying supporting calculations and documentation, and resolving actuarial questions affecting financial reporting. Monitor the Integrated Present Value of Future Benefits (IPVFB) system and supporting files and documentation for compliance with Corporation and external auditor standards; recommend software changes; design and perform tests of new releases; and review technical specifications and implementation test results.
Education
In order to qualify for this position, you must possess the following education: 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. You must submit transcripts to verify that you meet the education requirement.
How you will be evaluated
Referral: You will be assigned to one of three quality groups. Each group represents a quality level (i.e., Best Qualified, Qualified, Minimally Qualified). Candidates will be considered in quality group order. If you are among the top qualified candidates, your application may be referred to a selecting official for consideration. You may be required to participate in a selection interview (telephonic and/or in person at the discretion of the Selecting Official in accordance with hiring policies). If your resume does not support the answers you gave on the assessment questionnaire, you may be rated Not Qualified or you may be placed in a lower quality group. Your name will be placed in one of the three following quality groups:-Best-Qualified - highly proficient regarding the knowledge, skills and abilities (KSAs) related to this position.-Qualified - competent regarding the knowledge, skills and abilities (KSAs) related to this position.-Minimally Qualified- possessing only the minimum qualifications required for this position. Your qualifications will be evaluated on the following knowledge, skills, and abilities (KSAs): 1. Skill in actuarial principles, advanced theories, and valuation methods. 2. Skill in applying actuarial valuation and analytical methods. 3. Knowledge of methods and techniques for making and documenting actuarial calculations for audited financial statements. 4. Skill in applying computer techniques, databases, and actuarial software. Candidates who apply under Competitive Merit Promotion procedures will undergo a quality review to determine if they are best qualified based on the content of their resume and their responses to the assessment questionnaire. Best qualified will be referred if all required supporting documentation has been provided. Candidates who apply under Noncompetitive procedures will undergo a quality review to determine if they are minimally qualified based on the content of their resume, supporting documentation submitted and their responses to the assessment questionnaire. Your rating may be lowered if your responses to the online questions are not supported by the education and/or experience described in your application.