Associate

The Company

WTW is a leading global advisory, broking and solutions company that provides data-driven, insight-led solutions in the areas of people, risk and capital. Utilizing the global view and local expertise of our more than 46,000 colleagues serving more than 140 countries and markets, we help organizations sharpen strategies, enhance resilience, motivate workforces and maximize performance. We design and deliver solutions that manage risk, optimize benefits, cultivate talent and expand the power of capital to protect and strengthen institutions and individuals. Working closely with our clients, we uncover opportunities for sustainable success.

The Business

Our Retirement business provides actuarial support, plan design, and administrative services for all forms of pension and retirement savings plans. Our colleagues help our clients assess the costs and risks of retirement plans on cash flow, earnings and the balance sheet, the effects of changing workforce demographics on their retirement plans, and retiree benefit adequacy and security. We offer clients a full range of integrated retirement consulting services and solutions to meet the needs of all types of employers. We help multinationals coordinate plan design and actuarial services across their complex global plans. We bring in-depth data analysis and perspective to their decision-making process as we have tracked the retirement designs and financing strategies of companies around the world over many decades.

The Role

• Associate within the Retirement Line of Business at Willis Towers Watson US LLC in Philadelphia, PA.
• Perform accounting and funding valuation for pensions and welfare plans following US GAAP, IFRS and ERISA regulations.
• Conduct forecasting and modelling of future benefit obligations for retirement and other post-retirement plans to help clients with annual budgets.
• Responsible for setting assumptions such as discount rate and expected return on assets used in year-end financial disclosure.
• Calculate benefits reflected in proxy statements and review the statements to ensure accurate reporting.
• Monitor current market conditions and government rulings that could impact benefit plans and relating these changes to clients as appropriate.
• Improve actuarial valuation assumptions such as retirement rates, termination rates, trend rates, and per capita claims costs by conducting plan experience studies.
• Manage multiple client projects by organizing weekly progress report meetings, structuring project timelines and championing professional excellence.

The Requirements

• Bachelor’s degree (U.S. or foreign equivalent) in Actuarial Science, Mathematics, Statistics or a related quantitative field
• One (1) year of experience as an Actuarial Analyst or a related role.
• Prior experience collaborating with consultants on team projects that entails providing actuarial services to clients in various industries such as manufacturing, utilities, investments, legal, insurance, and health care.
• Prior experience in database and project management as well as report writing.
• Prior experience contributing to plan design and union negotiation of retirement plans, including assessing liabilities and preparing cost estimates.
• Prior experience conducting asset and liability projection modeling based on funding policy and economic scenarios to determine funded status, expense and required contribution. 
• Prior experience working with US GAAP, IAS 19, ERISA, FASB, Department of Labor, Pension Protection Act and other Government regulations.
• Prior experience carrying out experience studies to improve plan valuation assumptions such as termination and retirement rates, salary scale, and mortality studies.
• Proficiency in  Microsoft Excel, Word, and PowerPoint.
• Prior experience utilizing actuarial valuation systems. 
• Prior experience with discount rate and pension benefit forecasting models.
• Exam progress toward designation as an Associate of the Society of Actuaries (ASA)

Company Benefits

WTW provides a competitive benefit package which includes the following (eligibility requirements apply):
 

• Health and Welfare Benefits: Medical (including prescription coverage), Dental, Vision, Health Savings Account, Commuter Account, Health Care and Dependent Care Flexible Spending Accounts, Group Accident, Group Critical Illness, Life Insurance, AD&D, Group Legal, Identify Theft Protection, Wellbeing Program and Work/Life Resources (including Employee Assistance Program)
• Leave Benefits: Paid Holidays, Annual Paid Time Off (includes state/local paid leave where required), Short-Term Disability, Long-Term Disability, Other Leaves (e.g., Bereavement, FMLA, ADA, Jury Duty, Military Leave, and Parental and Adoption Leave),Paid Time Off
• Retirement Benefits: Qualified contributory pension plan (if eligible) and 401(k) plan with annual nonelective company contribution. Non-qualified retirement plans available to senior level colleagues who satisfy the plans’ eligibility requirements.
   

Pursuant to the San Francisco Fair Chance Ordinance and Los Angeles County Fair Chance Ordinance for Employers, we will consider for employment qualified applicants with arrest and conviction records.

EOE, including disability/vets