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Truist Retirement Consulting Actuarial Analyst in Greensboro, North Carolina

Req ID: R0048456

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Regular or Temporary:

Regular

Language Fluency: English (Required)

Work Shift:

1st shift (United States of America)

Please review the following job description:

Generate Defined Benefit, Non-Qualified, Cash Balance, and Post Retirement Medical Actuarial Valuation reports for review and to support the completion of any special consulting projects as assigned by management including special actuarial studies, forecasts, and experience analysis.

Essential Duties and Responsibilities:

Following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time.

  1. Prepare actuarial valuation projects for defined benefit, cash balance, non-qualified, and post-retirement medical associate benefit plans.

  2. Balance assets and analyze trust statements for specific income and disbursement items. Utilize accounting principles to create asset summaries and income statement.

  3. Reconcile participant information in accordance with plan provisions and peer review participant data from Defined Benefits Administration team used for actuarial valuations.

  4. Organize work and use the Actuarial Services filing system in accordance with department procedures and standards.

  5. Generate Form 5500 information for participant counts, coverage information, and asset information.

  6. Record and document decisions made and other analysis used to complete asset and participant reconciliations.

  7. Read and comprehend plan documents with an emphasis on benefit provisions. Prepare and update plan summary notes, as required.

  8. Perform basic coding and testing of valuation software.

  9. Generate valuation reports and other client deliverables for defined benefit, cash balance, non-qualified, and post retirement medical clients.

  10. Support special actuarial studies including termination analysis, plan design, forecasts, and experience studies.

  11. Create participant benefit statements and listings.

  12. Complete the Forms 5500 and attachments, Forms 8955-SSA, and Pension Benefit Guaranty Corporation (PBGC) forms.

  13. Process disclosure information pursuant to FASB ASC 715, GASB 74 and GASB 75 standards.

  14. Process client reporting pursuant to FASB ASC 715 and GASB 75 for Post-retirement Medical Plans.

  15. Process client deliverables for cash balance plan administration and valuations.

Required Skills and Competencies:

The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

  1. Bachelor's degree equivalent education and related training

  2. Strong communication and organizational skills

  3. Analytically oriented with strong math and logic skills

  4. Attentiveness to detail

  5. Ability to multi-task

  6. Ability to work independently and on a team

  7. Demonstrated proficiency of basic computer applications, such as Microsoft Office products

  8. Ability to travel, occasionally overnight

Desired Skills:

  1. Bachelor's degree in Actuarial Science, Mathematics, Finance, Computer Science, Statistics, or other analytical field is preferred

  2. Pursue exam programs with the American Society of Pension Professionals and Actuaries (ASPPA) or Society of Actuaries (SOA)

  3. Experience with ProVal actuarial valuation software

  4. Experience with underwriting or analytics related to group healthcare benefit plans

Truist supports a diverse workforce and is an Equal Opportunity Employer who does not discriminate against individuals on the basis of race, gender, color, religion, national origin, age, sexual orientation, gender identity, disability, veteran status or other classification protected by law. Drug Free Workplace.

Thank you for your interest in Truist! BB&T and SunTrust have come together in a transformational merger of equals to create Truist, the premier financial organization in the country. You may notice references to our legacy company names, BB&T and SunTrust, in places throughout this site. All such references should be understood to refer to Truist moving forward while we continue to transition to the Truist name.

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