Annuity Placement Specialist
The purpose of this position is to work with and under the direction of consultants to develop and deliver customized solutions for institutional clients, such as sponsors and trustees of pension funds, endowments, annuity providers and other institutional asset pools. The Annuity Placement Associate will be instrumental in supporting Mercer's efforts in the pension buyout market.
Annuity Placement Support:
- Project manage annuity placements from the initial bidding and price discovery process through execution and post deal transition of pension liabilities
- Liaise with the insurance market place of providers offering group annuity products to ensure that the required deliverables are received.
- Analyze pricing to provide unique solutions and support strategy for annuity buyouts. Determine how to show breakdown of accounts to clients and leverage internal resources to execute.
- Lead internal discussions with various parties to ensure the annuity placement process is executed successfully
- Create decks, coordinate meetings, respond to questions from insurers, liaise with actuarial team to gather plan and participant data, lead work streams and ensure the process is executed in a timely manner.
- Facilitate the preparation of insurance market due diligence material to support our consulting process around the Department of Labor guidelines for annuity buyout transactions in compliance with interpretive bulletin 95-1
- Consultant on 7-10 clients at a given time; performing modeling, running reports, preparing decks for members of the Financial Strategy Group on buyout and journey planning projects for investment clients
- Works with spreadsheets and various modeling tools to produce detailed numerical analysis of the client's risk profile and the impact of risk on key financial metrics
- Adapt technical modeling tools for specific client situations and deals with technical queries on the modeling methods and tools used; perform research and integrate findings into modeling
- As needed, provide ad hoc support on various projects as new business ventures are implemented.
Develop operations management skills:
- Understanding strategy leading up to the annuity placement project, assisting colleagues to identify areas of constraints, solving problems and doing analysis to help support client deliverables
- Sharing the group's expertise in this area across Mercer's Lines of Business, in particular with Mercer's Retirement and Investment colleagues
Contribute to Mercer:
- Effectively delegate work to junior colleagues, give guidance, and act as peer reviewer for colleagues.
- Ensure all professionalism / compliance standards and processes are understood and followed.
- Participate annually in goal setting and year end reviews of his or her performance. Establish goals with the approval of the supervisor that contribute to Mercer's success, including non-billable projects
- Actively contribute to FSG specialist research process, FSG tools development and FSG intellectual capital
- Scope projects, develop budgets, and follow project plans and perform such project management and recordkeeping as needed to ensure projects are delivered on time and on budget.
Develop New Business :
- Support business development teams by providing modeling and analysis for prospect situations
- Support the completion of new prospect proposals
- Participate in the scoping of potential projects and provide input on the project plan and fees
- Attend client and prospect meetings when appropriate
- Minimum Bachelor degree in mathematics, economics, finance or other business-related areas with strong quantitative and analytical course content or direct relevant experience.
- Minimum 6 years of experience within an insurance company, financial strategy, investment, and/or retirement, risk and finance consulting environment
- Strong analytical skills and attention to detail
- Overall good technical skills including proficiency in Microsoft Office, with a high proficiency in Excel
- Actively pursuing an Actuarial/ Chartered Financial Analyst (CFA) designation
- Intermediate understanding and experience in investment principles, actuarial calculations, actuarial and FSG tools and compliance.
- Depending on area of expertise, advanced knowledge and experience in actuarial services, investment consulting, Retirement Program Design, LDI strategies and manager
selection, Mergers & Acquisitions, multinationals, strategic asset allocation and research.
- Previous experience in the insurance or annuity market is a plus
- Developed sales skills and the ability to identify opportunities
- Self-motivation and an ability to work well in a highly collaborative team environment
- Excellent organizational, interpersonal, verbal and written communication skills
- Ability to multitask, manage multiple priorities and work in a rapidly changing and dynamic environment
- High-level attention to detail and an understanding of its application to the bigger picture
- Life Accident & Health Insurance licensing (if applicable) Have completed or shows interest in completing Actuarial or CFA professional qualification
- Colleagues in other Mercer businesses and countries (particularly Investment Consulting, and Retirement, Risk and Finance) seeking advice/input
- Insurance companies through the facilitation of annuity buyouts.
- Institutional clients during the placement process primarily to schedule meetings and to deliver ad hoc documents that have been peer reviewed.
At Mercer, we make a difference in the lives of more than 110 million people every day by advancing their health, wealth, and careers. We're in the business of creating more secure and rewarding futures for our clients and their employees - whether we're designing affordable health plans, assuring income for retirement or aligning workers with workforce needs. Using analysis and insights as catalysts for change, we anticipate and understand the individual impact of business decisions, now and in the future. We see people's current and future needs through a lens of innovation, and our holistic view, specialized expertise, and deep analytical rigor underpin each and every idea and solution we offer. For more than 70 years, we've turned our insights into actions, enabling people around the globe to live, work, and retire well. We embrace a culture that celebrates and promotes the many backgrounds, heritages and perspectives of our colleagues and clients. At Mercer, we say we Make Tomorrow, Today . Visit www.mercer.com for more information and follow us on LinkedIn and Twitter @Mercer
Marsh & McLennan Companies offers competitive salaries and comprehensive benefits and programs including: health and welfare, tuition assistance, 401K, employee assistance program, domestic partnership benefits, career mobility, employee network groups, volunteer opportunities, and other programs. For more information about our company, please visit us at: http://www.mmc.com/. We embrace a culture that celebrates and promotes the many backgrounds, heritages and perspectives of our colleagues and clients. For more information, please visit us at: www.mmc.com/diversity.
Mercer LLC and its separately incorporated operating entities around the world are part of Marsh & McLennan Companies, a publicly held company (ticker symbol: MMC).
Marsh & McLennan Companies and its Affiliates are EOE Minority/Female/Disability/Vet/Sexual Orientation/Gender Identity employers.
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Actuarial Associate, Mercer
Jolina manages projects for Mercer’s pension plan clients—preparing instructions for teammates, reviewing deliverables, and answering questions throughout the process.
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