Defined Benefit Retirement Plan Consultant / Actuary
First American Bank
in Elk Grove Village IL
This position is responsible for preparing and reviewing administration, benefit calculations and other related activities for defined benefit plans (both
funding and financial statement disclosure purposes) for small to medium-sized businesses primarily located in the Midwest.
DUTIES & RESPONSIBILITIES:
- Responsible for full administration of traditional defined benefit
and cash balance retirement plans inclusive of contribution calculations, Pension Benefit Guaranty Corporation premium determinations, distribution package preparation and annual compliance testing.
- Perform actuarial valuations for plans of varying
size and complexity.
- Review plan documents and properly apply provisions for benefit calculations and plan administration.
- Review plan account statements to determine fair market and actuarial value of assets.
- Consult with
relationship manager regarding the plan design and compliance with consideration of client goals.
- Communicate directly with clients, professional advisors and external auditors.
- Accompany relationship manager to meetings with clients
and plan participants.
- Complete and review required governmental disclosures and reporting forms.
- Assist in the training of technical staff within the Retirement Plan Services department.
- Manage time to assure work is completed
within the firm’s guidelines.
- Bachelor’s degree required.
- Enrolled Actuary status.
- Minimum of 7 years’ experience with qualified traditional and cash balance defined
benefit plans for single employers.
- Strong working knowledge of ERISA, Code and pertinent pension regulatory guidance.
- Excellent organizational skills with strong attention to detail.
- Prior experience communicating with Department
of Labor, Internal Revenue Service, and Pension Benefit Guaranty Corporation representing retirement plan clients a plus.
- Strong verbal and written communication skills.
- Ability to present technical topics in a clear, concise
- Advanced experience with Microsoft Office, including Word and Excel.
- Experience with commercial pension system.
Travel requirements are as needed, on a local basis.
M-F 8:00am to 5:00 pm. Additional hours
required for special projects as needed.
First American Bank is an Equal Opportunity Employer (Minorities/Females/Disabled/Veterans).
First American Bank will not sponsor applicants for work visas.
How to Apply
Please apply online using
this link. Please use the "Apply Now" button located at the bottom of the posting to begin the employment application.
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