Actuarial Analyst - 3 Month Contract

Summary

Perform calculations and validations. Prepare reports and maintain computerized and manual files and records pertinent to the actuarial requirements of the Company, as guided by the Actuary.

Responsibilities

• Prepare pension accounting valuations and triennial pension funding reports by:

  • • Receiving, reviewing, verifying accuracy and inputting relevant data from the Pensions Administration.
  • • Extracting and summarizing information from Trust Deeds, Plan rules, Investment contracts and previous Actuarial reports.
  • • Interpreting and translating Plan Rules into Mathematical formulae.
  • • Verifying revenue and expenditure accounts, demographic data and movement of lives during the intervaluation period.
  • • Deriving pension factors and calculating age, service, benefits, actuarial liabilities, investment return and surplus/ deficit for defined benefit plans.
  • • Reconciling surplus/ deficit emergence during the inter-valuation period.
  • • Summarizing and submitting results of the valuation for review by the Actuary.
  • • Preparing and dispatching electronic copies of the triennial report as appropriate.
• • Attend meetings with Employee Benefits Administration clients to provide technical support to the pension administrators and to explain the actuarial valuation reports or any other actuarial correspondence.
• • Calculate yields for pension plans that have been wound up to facilitate payments to members as well as progress reports to the regulators.

• Calculate the cost of pension increases and/ or annuity purchases by:

  • • Verifying the accuracy of data received internally or externally.
  • • Determining the annuity purchase rates to be used based on the current interest rates.
  • • Inputting data and submitting results to the Actuary for review.
• • Calculate late retirement benefits for Defined Benefit plans with an actuarially increased benefit rule.
• • Perform other job-related duties assigned from time to time.

Qualifications

• • Bachelor’s degree in Actuarial Science or Mathematics from a recognized tertiary institution.
• • Completion of one actuarial exam administered by a recognized actuarial body would be an asset.
• • Working experience in the pensions industry would be an asset.
• • Proficiency in mathematics, computing, research, analytics and problem solving.
• • Knowledge of pension plans, amortization, survival models and pension regulations.
• • Working knowledge of computer software packages such as word processing and spreadsheet applications.
• • Good time-management skills.
• • Good interpersonal and communication skills.
• • Detail oriented.

Additional Information and Instructions

If this role is of interest to you, kindly submit an application via Sagicor's career portal no later than December 6, 2024. While we appreciate all applications, only shortlisted candidates will be contacted.

Share This Job