Review Vacancy
AgencyTeachers' Retirement System
Occupational CategoryFinancial, Accounting, Auditing
Salary RangeFrom $125965 to $157312 Annually
Minimum Qualifications A Bachelor’s degree in Mathematics, Actuarial Science, or a related field;
AND
At least ten years of pension actuarial experience, preferably public plan experience, and professional designation of Associate of the Society of Actuaries (ASA) or Fellow of the Society of Actuaries (FSA); Member of the American Academy of Actuaries (MAAA); and Enrolled Actuary (EA);
AND
At least eight years of experience managing staff.
Preferred Qualifications:
- Excellent oral and written communication skills
- Excellent interpersonal skills
- Additional years of pension actuarial experience
- Additional years of management experience
- Familiarity and experience with pension valuation programming (Ideally with ProVal)
- Familiarity and experience with Microsoft Office products
- Familiarity with GASB standards as they relate to pensions and OPEB
- Familiarity with Internal Revenue Code and regulations as they relate to public sector pensions
- Commitment to providing exceptional customer service
Duties Description
This position supervises the Actuarial Department staff and coordinates all the work prepared by the department. The Manager manages deadlines with respect to the work, assigns staff to complete projects, and completes some work personally. Additionally, this position interfaces with other departments to provide advice and input with respect to benefit legislation and implementation. Provides support and guidance to the Actuary as needed.
The duties of the Manager of Actuary include, but are not limited to, the following:
- Provides the day-to-day management of the Actuarial Department, including organizing/overseeing all work prepared by the department, managing deadlines, assigning work to the staff, checking work and preparing some of the work personally as needed
- Facilitates the delivery of this work to the Actuary and to other departments within the System
- Generally supervises, develops and mentors staff
- Supervises and participates in the annual actuarial valuation of System assets and liabilities leading to the development of the employer contribution rate, using System’s valuation software (ProVal)
- Prepares/oversees preparation of the System’s annual actuarial gain/loss using System’s valuation software (ProVal)
- Supervises/participates in the preparation of annual experience studies used to gauge the effectiveness of actuarial assumptions
- Prepares/oversees preparation of material as needed for compliance with GASB 67 and GASB 68
- Supervises/participates in the preparation of fiscal notes for proposed legislation affecting the System
- Supervises/participates in the preparation of the New York State Dept. of Financial Services annual filing
- Supervises the preparation of information, charts and graphs for the Actuarial and Statistical sections of the System’s Comprehensive Annual Financial Report
- Works with outside auditors and System accountants on preparation of the System’s annual financial statements, including preparation of actuarial and funding disclosures
- Prepares/oversees preparation of revised actuarial assumptions as needed (typically every five years)
- Supervises the computation of annuity values and option factors in accordance with statute, including the computation of option factors for alternative options and domestic relation orders
- Works with other departments to review proposed legislation and to implement new legislation
- Performs/oversees compliance work with respect to public plan relevant sections of the Internal Revenue Code
- Acts as a resource for other departments at the System
Additional Comments This position does not come under the jurisdiction of the Department of Civil Service. It comes under the Manager/Executive Plan. New appointees to Manager/Executive Plan positions must serve a one-year review period. If you are currently employed by NYSTRS in a Confidential or Negotiating Unit position, you will be granted leave without pay from your current position while you are serving the review period. Upon successful completion of the review period, the hold on your current position will be discontinued and you will no longer have any rights under Civil Service.
Some positions may require additional credentials or a background check to verify your identity.