Associate - Retirement Consulting Actuaries

JOB DESCRIPTION

Job Title Associate - Retirement Consulting Actuaries

Career Level- E/F

Business/Function-Retirement

Segment-Actuarial

Region / Market-Growth Markets/ IMETA/India

POSITION SUMMARY

The purpose of this position is to provide technical leadership to the team of actuarial analysts and consultants to deliver directly to clients on issues pertaining to valuation and other actuarial advices (primarily in employee benefits space). Responsibilities include supervising, coaching and mentoring both analysts and valuation specialists with a focus on career progression.This position is involved in numerous competing client projects that require delivering accurate results on time and within budget to global retirement consultants and also be the signing actuary wherever applicable. This position is also responsible for scoping and delivering accurate results on special projects that require understanding complex calculations and concepts.

ESSENTIAL JOB RESPONSIBILITIES

Responsibility

% of time spent

1)

Review and validate client liabilities produced by the actuarial team. Review the final accounting and funding results for global retirement consultants and also be the signing actuary wherever applicable.

Review the results in global consolidation tool (Mercer Globe or client specific tools)

Main contact for clients related to actuarial consulting. Formulate views and provides inputs to client advice. Delivers directly to clients on issues pertaining to valuation and other actuarial advices.

Regularly attend and participate in auditor/client meetings.

60%

2

Direct, coach and guide actuarial analysts and valuation specialists through core valuation work which includes flawless execution with respect to requesting, gathering and reviewing client data for completeness, reconciling data and assets from previous valuations and preparing summaries of data, assets and benefits defined in the plan document.

15%

3

Supervise employees as direct reports, typically upto 4-5

Have full authority for the following people management responsibilities

Assigning, directing and evaluating work

Conducting performance evaluations, progressive counselling and career development discussions

Ensuring appropriate orientation and on-going education/training

Provide critical input to the following people management responsibilities

Hiring and firing employees

Promotion, salary and bonus actions

10%

4

Provide an effective level of business support for the team’s portfolio of client. Proactively manage the completion and timely delivery of client work and works alongside junior/senior colleagues and with a cross section of people from other businesses. Coordinate and address queries received from auditors/client

Coordinate workflow:

Determine timelines and valuation budget and compare budgeted vs. actual time spent

Plan to determine best methods to increase efficiency/profitability

Attend and present technical work and updates with global/regional consultants

Support key metrics for business like revenue, AR’s and WIP that require regular monitoring by leadership.

15%

Position Scope

Revenue generation / asset management accountability

Individual revenue accountability

(i.e., personal revenue goal)

Yes

Team revenue accountability

(i.e., total revenue for team(s) under the position’s management)

Yes

Management responsibility

(i.e., hiring, coaching, scheduling / delegating work, performance reviews)

Number of direct reports

4 to 5

Total reports

(Direct and indirect)

5 to 7

Project management

(i.e., indirect management of project teams)

Typical project team size

Manages multiple projects? (Yes/No)

Yes

Percentage of time spent on project management

20%

KNOWLEDGE, SKILLS AND ABILITIES

Education

(degree / diploma)

Partially qualified actuary with atleast 4-5 actuarial exams with IAI or IFOA

Graduate or Post Graduation with relevant subject of Mathematics / Statistics

Experience

Experience in working of employee benefits in India

Overall experience of 8-10 years in actuarial domain

Strong skill in MS Excel and working knowledge of MS Word and Powerpoint

Knowledge and skills (general and technical)

Problem solving and consultancy skills

Excellent communicator both verbal and written

Ability to assimilate and analyse complex data

Good presenter

Self-motivated with a dynamic approach

Highly collaborative, Team player

Work with colleagues to increase Mercer footprint in Retirement, cross selling with other LOBs

Ability to manage, motivate, and mentor more junior level staff

Project management skills, Ability to organise and prioritise activities

Attention to details

Multi-tasking

Other requirements (licenses, certifications, specialized training)

Partially qualified from IAI or IFOA with atleast 4-5 exams

3

Supervise employees as direct reports, typically upto 4-5

Have full authority for the following people management responsibilities

Assigning, directing and evaluating work

Conducting performance evaluations, progressive counselling and career development discussions

Ensuring appropriate orientation and on-going education/training

Provide critical input to the following people management responsibilities

Hiring and firing employees

Promotion, salary and bonus actions

10%

4

Provide an effective level of business support for the team’s portfolio of client. Proactively manage the completion and timely delivery of client work and works alongside junior/senior colleagues and with a cross section of people from other businesses. Coordinate and address queries received from auditors/client

Coordinate workflow:

Determine timelines and valuation budget and compare budgeted vs. actual time spent

Plan to determine best methods to increase efficiency/profitability

Attend and present technical work and updates with global/regional consultants

Support key metrics for business like revenue, AR’s and WIP that require regular monitoring by leadership.

15%

POSITION SCOPE

Revenue generation / asset management accountability

Individual revenue accountability

(i.e., personal revenue goal)

Yes

Team revenue accountability

(i.e., total revenue for team(s) under the position’s management)

Yes

Management responsibility

(i.e., hiring, coaching, scheduling / delegating work, performance reviews)

Number of direct reports

4 to 5

Total reports

(Direct and indirect)

5 to 7

Project management

(i.e., indirect management of project teams)

Typical project team size

Manages multiple projects? (Yes/No)

Yes

Percentage of time spent on project management

20%

KNOWLEDGE, SKILLS AND ABILITIES

Education

(degree / diploma)

Partially qualified actuary with atleast 4-5 actuarial exams with IAI or IFOA

Graduate or Post Graduation with relevant subject of Mathematics / Statistics

Experience

Experience in working of employee benefits in India

Overall experience of 8-10 years in actuarial domain

Strong skill in MS Excel and working knowledge of MS Word and Powerpoint

Knowledge and skills (general and technical)

Problem solving and consultancy skills

Excellent communicator both verbal and written

Ability to assimilate and analyse complex data

Good presenter

Self-motivated with a dynamic approach

Highly collaborative, Team player

Work with colleagues to increase Mercer footprint in Retirement, cross selling with other LOBs

Ability to manage, motivate, and mentor more junior level staff

Project management skills, Ability to organise and prioritise activities

Attention to details

Multi-tasking

Other requirements (licenses, certifications, specialized training)

Partially qualified from IAI or IFOA with atleast 4-5 exams

Mercer believes in building brighter futures by redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being. Mercer’s approximately 25,000 employees are based in 43 countries and the firm operates in over 130 countries. Mercer is a business of Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people, with 85,000 colleagues and annual revenue of over $20 billion. Through its market-leading businesses including Marsh, Guy Carpenter and Oliver Wyman, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment. For more information, visit mercer.com. Follow Mercer on LinkedIn and Twitter.

Marsh McLennan is committed to embracing a diverse, inclusive and flexible work environment. We aim to attract and retain the best people regardless of their sex/gender, marital or parental status, ethnic origin, nationality, age, background, disability, sexual orientation, caste, gender identity or any other characteristic protected by applicable law