Description
Job Summary:
This position directs all actuarial activities and implements and develops actuarial policies and procedures. Other duties include communicating with participating cities, providing technical assistance, and acting as liaison between consulting actuary, staff and the Board.
Duties/Responsibilities:
Oversees and coordinates all activities and work of TMRS’ consulting actuary.
Provides support to participating TMRS cities including: review actuarial information, discuss plan benefit options, financial projections, communicate results and answer actuarial questions.
Directs all actuarial activities related to the annual valuation including the individual city rate letters.
Responsible for all GASB related actuarial functions and activities to implement and maintain compliance with GASB standards and is the technical liaison between the staff and participating employers on all GASB related matters. Directs all activities in developing the annual GASB letters to individual cities including updating the GASB section of the TMRS website.
Directs actuarial studies for proposed legislation or legislative analysis.
Oversees and participates in the development and delivery of actuarial presentations presented to cities, Legislature and the Board of Trustees.
Researches and designs actuarial tools for staff use with cities, designing computer models and developing reports and forecasting tools.
May supervise staff to include: prioritizing and assigning work; conducting performance evaluations; ensuring staff is trained; ensuring that employees follow policies and procedures; maintaining a healthy and safe working environment; and making hiring, termination, and disciplinary recommendations.
Directs the activities of the department to include overseeing the development and administration of policies, procedures, programs, services, goals and objectives. Ensures department compliance with applicable laws, codes, regulations and standards.
Develops policies, short and long term goals, objectives, and strategic plans. Provides departmental direction in the implementation of policies, plans and objectives.
Develops, administers and oversees departmental or program budget. Reviews financial statements, monitors and approves expenditures and ensures compliance.
Stay current on developments affecting public pension plans (assumption trends, actuarial standards, funding policy practices, pension rules and regulatory guidance)
Educate staff about actuarial concepts to help communicate plan funding and compliance
Requirements
Education and Experience:
Bachelor’s Degree and 7 years of progressively responsible experience related to actuarial services including 3 years of leadership experience. Knowledge of Public administration principles and practices as well as actuarial principles and standards of practice.
Certification one or more of the specialty areas is required:
Associate of the Society of Actuaries (ASA).
Enrolled Actuary
Physical Requirements:
Sedentary work: Exerting up to 10 lbs. of force. Ability to safely and successfully perform the essential job functions consistent with federal, state, and local standards, including meeting qualitative and/or quantitative productivity standards.
