Sr. Investment Actuary
The investment actuary is responsible for several strategic and quantitative functions affecting the investment process with respect to Vanguard's defined benefit pension clients. These functions in part include asset liability management, portfolio risk management, strategic asset allocation, cash flow projections, etc. The investment actuary will proactively contribute to the overall strategic thinking and direction of the team. This includes managing and improving existing models and processes as well as designing and building new models to support and inform the investment function. Additionally, the investment actuary will contribute to a variety of other projects which combine investment and actuarial concepts.
Duties and Responsibilities:
- Assume ownership and responsibility for a variety of processes and models supporting the lead investment actuary.
- Review, develop, and implement improvements and changes to existing actuarial efforts.
- Design, build, and implement investment/actuarial models as needed to support and inform the strategic investment decision process.
- Maintain the complete model/process lifecycle including: assumption and parameter generation, measurement/quantification and interpretation/explanation of results and changes.
- Develop, question, and validate key model/process parameters, assumptions, drivers and scenarios.
- Work collaboratively with others to research and probe key issues.
- Effectively communicate all aspects of the modeling and processes to all levels within Vanguard.
- Provide a high level of technical expertise to Relationship Managers, Sales Executives, Investment Consultants and Consultant Relations teams to support and strengthen relationships with clients and prospective clients.
- Review the latest regulatory developments and industry trends affecting defined benefit plans, including changes to ERISA, Internal Revenue Code, FASB and PBGC rules. Where applicable, analyze and communicate the effect on clients, Vanguard policies and procedures, and client plans and financial statements.
- Act as an actuarial and subject matter expert, supporting various business initiatives and services, e.g. provide content for client communications, support development of liability driven investing model and other analytic services
- Provide formal and informal training relative to defined benefit plans to Vanguard crew members including technical assistance as needed.
- Participate in special projects and perform other duties as assigned.
- Undergraduate degree and equivalent training and experience required.
- Associate, Society of Actuaries (ASA) designation, or progress toward designation, required.
- Progress toward CFA designation preferred.
- Minimum 5 years of work experience required; defined benefit plan experience required and asset-liability modeling experience preferred.
- Technical defined benefit knowledge of ERISA, Internal Revenue Code, applicable regulations, and Financial Accounting Standards as related to defined benefit plans preferred.
- Written and verbal communication skill required.
- Project management skill required.
- Self-starter able to work independently with minimal direction and to develop practical responses to technically challenging issues preferred.
- Some travel may be required.
Vanguard is not offering visa sponsorship for this position.
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