Actuarial Manager

SUMMARY:
To manage quantitative and actuarial analysis services for the Fund, including monitoring Service Level Agreements with service providers (PIC, actuarial consultants, Administrator, PRI companies and

POSITION INFO:

Key Accountabilities:

Key performance area:

Manage and implement the Fund’s actuarial strategy:

• Review and manage the implementation of the Fund’s actuarial strategy and policy
• Provide advice in respect of reviewing and changing Fund rules and funding level policy
• Provide advice on the appropriate implementation of minimum levels in benefit administration
• Oversee and manage the Fund’s actuarial services and projects
• Oversee and manage all annual actuarial valuations and calculations
• Plan, develop and implement revised actuarial factors in actuarial projects
• Review long term challenges faced by the pension system and make recommendations to the B&A Committee
• Compile reports and recommendation on actuarial services and projects of the Fund to the B&A Committee

Manage outsourced actuarial services

• Negotiate actuarial contracts with external actuarial service providers
• Manage outsourced asset valuation and asset liability modelling services
• Co-ordinate and manage external advice on the benefit calculation and pension increase proposal
• Validate the accuracy of member information used for valuation calculations
• Implement all instructions from the Board and Principal Officer
• Evaluate submitted invoices/fees to ensure accuracy and competitiveness
• Manage and control service provider fees in line with contractual terms and budgetary plans
• Ensure compliance with legislation and best practice principles

Manage actuarial projects:

• Experience analysis
• National pension account
• S-case liability project
• Co-ordinate and manage all actuarial projects
• Evaluate project plans and provide assistance in implementation
• Undertake general contract management and administration for actuarial projects
• Scope management
• Ensure the integration of all actuarial project functions and work plans
• Define and approve the project scope, timelines, objectives and milestones of projects
• Effectively manage the completion of project deliverables
• Monitor and manage project costs line with the budget
• Develop quality assurance plans and guidelines for project members and service providers
• Identify and resolve project issues and recommend mitigation strategies

Conduct research and quantitative analysis

• Conduct research into national and international employee benefit industry and best practices
• Conduct research of pension reform and social security, and provide recommendations to the B&A Committee
• Monitor national and international market movements and the potential impact to the Fund
• Compile reports on the Fund’s positions with regards to employee benefit administration/modernization
• Conduct quantitative analysis of to determine and quantify the annual pension contribution increases
• Liaise with the PSCBC on the pension contribution increase

Monitor and evaluate Service Level Agreement compliance (GPAA)

• Manage the relationship between the Administrator, PIC, GEPF and Actuarial service providers in order to effectively manage actuarial requirements and expenditure
• Develop and implement a monitoring and evaluation systems and framework, tools and procedure for actuarial services
• Collate performance data and reports to assess compliance with contractual terms
• Assist with negotiating performance measures with GPAA for actuarial and investment services
• Review and analyse investment transactions to identify risk factors that could have longer-term financial impact on the GEPF’s investment strategy
• Review and evaluate investment reports, the risk report and the investment risk report to identify issues of concern requiring mitigation or action
• Identify and escalate risk issues or concerns requiring mitigation to ensure management within defined and appropriate risks parameters
• Assist with the compilation of a report on the financial risk, service delivery level and mitigation strategies

Manage resources and staff

• Contribute to the budgeting processes
• Monitor budget expenditure in relation to actuarial projects and services
• Manage staff performance through continuous performance appraisal, coaching and mentoring
• Identify gaps in capability, skills and knowledge of staff members
• Assist staff draft their performance and development plans and ensure implementation
• Manage work allocation and staff responsibilities

NB! This job is now closed. You can apply for other jobs by uploading your CV.