Senior Associate - Retirement

at  WTW

DESCRIPTION

WTW is a leading global advisory, broking and solutions company that provides data-driven, insight-led solutions in the areas of people, risk and capital. Utilizing the global view and local expertise of our 48,000 colleagues serving more than 140 countries and markets, we help organizations sharpen strategies, enhance resilience, motivate workforces and maximize performance. We design and deliver solutions that manage risk, optimize benefits, cultivate talent and expand the power of capital to protect and strengthen institutions and individuals. Working closely with our clients, we uncover opportunities for sustainable success.

THE REQUIREMENTS

• Bachelor’s degree (U.S. or foreign equivalent) in Actuarial Science, Mathematics, or a related field.
• Four (4) years of experience as an Actuarial Analyst or related role.
• Prior experience reviewing and checking valuation work and complex data analysis for large corporate U.S. defined benefit plans (e.g., 500+ participants) sponsored by Fortune 1000 companies or organizations of similar size.
• Prior experience contributing to the design, valuation and administration of retirement plans for Fortune 1000 companies or organizations of similar size, including assessing liabilities, preparing cost estimates and core valuations in compliance with the Pension Protection Act, U.S. GAAP and International Financial Reporting Standards (IFRS).
• Prior experience reviewing and checking U.S. government retirement plan filings, including Forms 5500, Schedule SB and PBGC premium filings.
• Prior experience coding experience in pension valuation software.
• Must have exam progress toward designation as an Associate of the Society of Actuaries (ASA) or Enrolled Actuary (EA) designation.

COMPANY BENEFITS

WTW provides a competitive benefit package which includes the following (eligibility requirements apply):

• Health and Welfare Benefits: Medical (including prescription coverage), Dental, Vision, Health Savings Account, Commuter Account, Health Care and Dependent Care Flexible Spending Accounts, Group Accident, Group Critical Illness, Life Insurance, AD&D, Group Legal, Identify Theft Protection, Wellbeing Program and Work/Life Resources (including Employee Assistance Program)
• Leave Benefits: Paid Holidays, Annual Paid Time Off (includes paid state/local paid leave where required), Short-Term Disability, Long-Term Disability, Other Leaves (e.g., Bereavement, FMLA, ADA, Jury Duty, Military Leave, and Parental and Adoption Leave), Paid Time Off (Washington State only)
• Retirement Benefits: Contributory Pension Plan and Savings Plan (401k). All Level 38 and more senior roles may also be eligible for non-qualified Deferred Compensation and Deferred Savings Plans. If Level 38 or more senior role is in Washington State, you must add the retirement benefits paragraph to the job description. Please note: Producer Sales roles are not currently eligible for the WTW Pension Plan.

• Senior Associate within Retirement Line of Business at Willis Towers Watson US LLC, in Seattle, WA.
• Engage in pension and postretirement plan design including annual pension and/or post-retirement medical and life plans valuations; forecasting; asset/liability modeling; pension plan administration; experience studies and solving other retirement-related client issues.
• Calculate and review expense, budgets and year-end disclosures under US GAAP and IFRS for pension and retiree medical plans.
• Perform and review deterministic projection modeling to project long term pension liabilities, contributions and benefit costs for various funding scenarios and serve as a main resource for colleagues.
• Work on various de-risking projects such as SB RAP (small benefit retirement annuity purchase) and plan terminations with data preparation and reconciliation, assumption development and setup, financial impact analyses, and review on accuracy and reasonableness of the results.
• Perform ALM (asset liability management) studies, providing the client with financial funded status update of their qualified, non-qualified, and other post-employment benefits plans, market and regulatory updates and its impact on their plans, and strategy review by performing asset allocation studies to produce absolute and surplus return efficient frontiers and detailed comparison of current and other alternative asset portfolios for clients to consider.
• Perform technical reviews on data, gain and loss analyses, and valuation results prepared by junior colleagues to ensure the accuracy and reasonableness of the work and summarize key results to consultants.
• Review government filings in accordance with FASB, GASB, Department of Labor, ERISA, Pension Protection Act, and other government regulations, prepared by junior associates.
• Serve as project manager for multiple projects, leading projects by setting work plans, managing budgets and deadlines, coordinating team members, and ensuring internal and client deadlines are met.
• 40 hours/wk; Monday-Friday; 9am-5pm; $102,300–$121,000 Per Year