At The Standard, you’ll join a team focused on putting our customers first.

Our continued success is driven by a high-performance culture. We’re looking for people who are collaborative, accountable, creative, agile and are driven by a passion for doing what’s right – across the company and in our local communities.

We offer a caring culture where you can make a real difference, every day.
 
Ready to reach your highest potential? Let’s work together.

Job Summary:

The Defined Benefit team provides actuarial services and administrative support for traditional pension plans and small cash balance plans.  The Standard recently acquired the retirement plan business from Securian Financial which included DB plans.  We are looking for an actuary that can manage a book of acquired business including integration and conversion as well as ongoing support for the plans.

Actuarial Support/Projects: Responsible for performing the following:

• Manage the conversion of the acquired plans to Proval and Standard’s operating model
• Annual actuarial valuations of qualified traditional DB Plans for:
  • Funding/compliance/premium purposes under IRS/ERISA/PBGC/DOL
  • Sponsor and plan financial statement (accounting) purposes under ASC 715

• Actuarial assumptions and asset valuation method studies
• Annual non-discrimination, participation and coverage tests
• DB Plan design/re-design/costing studies
• Cost studies and projects for DB Plan termination/freezing and other exit strategies
• Individual benefit illustrations/certifications/distributions throughout the year
• Assist Accountants, IRS/ PBGC auditors, Attorneys, and other Third Party Administrators (TPAs) on actuarial matters

Leadership: Key resource to the department providing leadership in areas of expertise.  Manage key accounts, including ensuring strong relationships and maintaining focus on all stakeholders.  Guide analysts on supporting client work and contribute to leadership of the entire DB team.  Project manage the integration and conversion of the acquired book of business to Proval and Standard’s operating model.  May manage a small team of actuaries and analysts.

Valuation/Modeling/Studies:  Calculate assets and liabilities in accordance with regulatory requirements and applicable actuarial and accounting standards.  Proficient user of Proval.  Workable knowledge of sister application ProAdmin would be preferrable.  Review and maintain actuarial assumptions relevant to area of practice, adhering to actuarial and industry standards.

Analytical Skills:  Apply broad actuarial, financial and industry expertise combined with unique product line knowledge to contribute to the achievement of company goals.  Work on significant and complex issues where analysis of situations requires evaluation of quantitative, qualitative, forward looking and organizational factors.   

Cross Collaboration:  Communicate and collaborate with various departments across the organization to meet business needs.  Using data and analysis, provide strategic guidance in influencing management decision making. Contribute to direction and growth of the DB team and its members, and the DB team’s visibility within the broader organization.

Regulatory Compliance:  Research complex regulatory issues (ERISA codes, etc.); determine applicability to situation; design and recommend appropriate resolutions to administrative and plan design issues; implement procedures and/or communicate with interested parties.

Education/Experience:  Bachelor’s degree in mathematics, actuarial science, business or a related field.  Six or more years’ experience in the actuarial field or the equivalent combination of education and/or experience.  EA designation required plus FSA or related experience preferred.

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Please note - the salary range for this role is listed below. In addition to salary, our package includes incentive plan participation and comprehensive benefits including medical, dental, vision and retirement benefits, as well as an initial PTO accrual of 164 hours per year. Employees also receive 11 paid holidays and 2 wellness days per year.

• Eligibility to participate in an incentive program is subject to the rules governing the program and plan. Any award depends on various factors, including individual and organizational performance.

Salary Range:

Standard Insurance Company, The Standard Life Insurance Company of New York, Standard Retirement Services, Inc., StanCorp Equities, Inc. and StanCorp Investment Advisers, Inc., marketed as The Standard, are Affirmative Action/Equal Opportunity employers. All qualified applicants will receive consideration for employment without regard to race, religion, color, sex, national origin, gender, sexual orientation, age, disability, or veteran status or any other condition protected by federal, state or local law. The Standard offers a drug and alcohol free work environment where possession, manufacture, transfer, offer, use of or being impaired by an illegal substance while on Standard property, or in other cases which the company believes might affect operations, safety or reputation of the company is prohibited. The Standard requires a criminal background investigation, drug test, employment, education and licensing verification as a condition of employment. All employees of The Standard must be bondable.