Pension (Risk Transfer) Actuary, Administrator, Paralegal

Who We Are

At Corebridge Financial, we believe action is everything. That’s why every day we partner with financial professionals and institutions to make it possible for more people to take action in their financial lives, for today and tomorrow.

We align to a set of Values that are the core pillars that define our culture and help bring our brand purpose to life:

• We are stronger as one: We collaborate across the enterprise, scale what works and act   decisively for our customers and partners.
• We deliver on commitments: We are accountable, empower each other and go above and beyond for our stakeholders.
• We learn, improve and innovate: We get better each day by challenging the status quo and equipping ourselves for the future.
• We are inclusive: We embrace different perspectives, enabling our colleagues to make an impact and bring their whole selves to work.

Who You’ll Work With

The Institutional Markets - Pension team is one of the top writers of pension risk transfer transactions in the US.  As our business continues to grow, the US pension underwriting team is looking to hire a professional with actuarial or defined benefit pension plan expertise. 

About The Role

Depending on the candidate’s background, the successful candidate will perform one or multiple of the following duties: (1) underwrite, assess pension risks, perform actuarial calculations, and assemble commitment agreements in technical aspects; (2) act as internal project manager in all technical aspects of onboarding new business across internal functions; (3) act as pension specialist to support call center through managing defined benefit pension plan’s benefit calculations, modeling, and testing; (4) act as pension specialist in drafting and reviewing defined benefit pension provisions in contracts from the actuarial modeling and pension administration perspectives before documents are utilized by call center, are delivered to individuals or are filed with state regulators; and/or (5) lead inforce governance and special projects assisting internal functions.

Responsibilities

• Explain technical actuarial and/or pension topics to Head of US PRT in New Jersey

• Be viewed as the defined benefit pension plan expert within the company

• Assess pension risks, calculate premiums, and customized contract terms affecting premiums or operations

• Guide onboarding and lead cross function collaboration

• Design or implement governance, controls, process, and procedures

• Review actuarial calculations and actuarial methodology in a controlled environment

• Execute actuarial model risk management framework including model development and testing

• Apply technical expertise to support Operations and Valuation teams and ensure successful implementation of new business leading to accurate and reliable financial reporting

• Think creatively and exercise sound judgment in leading projects

Skills & Qualifications

• Defined benefit pension plan experience

• Ability to interpret and implement complex pension plan benefit provisions as well as drafting of documents

• At least one of Pricing, Valuation, Actuarial Modeling, Pension Administration or Contract experience

• Pension benefit calculation modeling, testing, or production experience

• Project management experience

• Self-Starter who is comfortable dealing with both complexity and ambiguity, with ability to explore multiple solutions to a problem

• Awareness of governance best practice and controls required

• Competence in using Microsoft Office programs; familiarity with VBA coding a plus

• Ability to work and thrive in a dynamic team environment, possess excellent interpersonal, written and oral communication skills and having a comfort with explaining complex materials in a clear, focused, and concise manner

• Bachelors degree in Actuarial Science, Mathematics, Statistics, or related field

• Pursue one of the Society of Actuaries, the Enrolled Actuaries, or the American Society of Pension Professionals & Actuaries certification

Compensation

 The anticipated salary range for this position is $130,000 to $140,000 at the commencement of employment.  Not all candidates will be eligible for the upper end of the salary range. The actual compensation offered will ultimately be dependent on multiple factors, which may include the candidate’s geographic location, skills, experience and other qualifications.

In addition, the position is eligible for a discretionary