Sr. Principal - Post-Retirement Benefits - Pension / Health - 9556
Client looking for an Actuary with strong Retiree Medical experience who wants to run a small Retiree Medical Consulting and Reporting Practice. This role will be responsible for post retirement welfare plan actuarial products and services and the fee generation related to those products and services. Serve as this client's industry expert on post-retirement welfare benefit issues. Lead and direct all actuarial consulting team functions including service operations, client relations, sales/marketing, compliance, billing, professional standards, training, quality control, and system/technology development. Set product and business strategy, anticipate and address emerging business and regulatory issues, and manage complex challenges impacting the unit.
· Leads the post-retirement benefits team to enhance and modify process documentation, technology, standards and methods, and technical resources to best support the team’s ability to deliver timely, consistent, efficient and accurate products and services. · Directs the work of team members to achieve revenue and budget goals, improve products and services, strengthen client relations, comply with regulatory requirements/professional standards and lower risk exposure. · Markets the post-retirement welfare services to cooperatives, acquiring new business and retaining current business. · Serves as the subject matter expert, providing comprehensive consulting services to cooperatives on plan design, curtailment/settlement of liabilities, cost sharing strategies, and accounting requirements of the FASB, the Rural Utilities Service, and other relevant entities. · Reviews reports and serves as the signing actuary with regard to ASC 715-60 health care per capita claims costs and accounting calculations. · Develops, monitors, forecasts and manages the service fee schedule, billing/collection practice, budgets, expenses and revenues. · During peak work periods participates with rest of the team in the production of valuation results and reporting. ·Monitors and researches governmental, legal, economic and regulatory developments affecting post-retirement welfare benefits. Ensure integrity of actuarial/financial analysis and methods.
Bachelor’s degree in mathematics, actuarial science, or equivalent education. · Associate or Fellow of the Society of Actuaries, a Member of the American Academy of Actuaries meeting the requirements to issue actuarial opinions with respect to ASC 715-60 accounting calculations and per capita health care claims cost development · Enrolled Actuary designation required. 10 plus years as a healthcare and/or retirement plan actuary with 5 or more years in a lead consultant role. · Comprehensive experience with post-retirement welfare work, including per capita health care claims cost development, post-retirement welfare plan design, calculations of post-retirement welfare plan actuarial liabilities, selection of actuarial assumptions, ASC 715-60 accounting and related consulting. · Prior experience preferred managing a team providing post-retirement welfare services, responsible for service delivery, relationship building, team management and revenue generation. Working experience with actuarial valuation software such as Proval or Lynchval