Actuarial Specialist

Teachers' Retirement Allowances Fund (TRAF) - Winnipeg, MB (30+ days ago)

Apply Now

Overview
The Teachers’ Retirement Allowances Fund (TRAF) administers the defined benefit pension plan for over 38,000 active, former and retired teachers in the Manitoba public school system. We are currently seeking a professional and dedicated individual to fill the position of Actuarial Specialist. The Actuarial Specialist will report to the Director, Actuarial Services and provide support in the following areas:

Legislative Matters

  • Maintain knowledge of pension legislation such as The Teachers’ Pensions Act (TPA), The Pension Benefits Act of Manitoba (PBA) and relevant sections of the Income Tax Act (ITA).
  • Monitor changes in applicable legislation and prepare impact reports.
  • Provide assistance in the identification and development of any required or desired legislative changes.
  • Provide assistance to the Member Services department in the interpretation of applicable legislation.
  • Review publications and correspondence for compliance with applicable legislation.

Actuarial Matters

  • Prepare data required for actuarial valuations, projection valuations, experience studies and other projects as necessary.
  • Ensure the completeness and accuracy of data provided to the external plan actuary.
  • Respond to any data-related questions from the external plan actuary.
  • Assist in the preparation of quarterly actuarial extrapolations and internal projections.
  • Assist in the development, maintenance and enhancement of the actuarial valuation policy and funding policy.
  • Liaise with external actuarial firms in the periodic external audit of administrative calculations and procedures.
  • Prepare analyses and research reports as requested relating to plan design and funding.
  • Ensure updates to actuarial factors and rates are in compliance with applicable legislation and the Canadian Institute of Actuaries’ standards of practice.

Pension Administration System (PAS)

  • Ensure that all calculators developed by TRAF for external and internal use are accurate, up-to-date and consistent with TRAF’s policies and applicable legislation.
  • Assist in the development and implementation of PAS change requests as a result of changes to policies, procedures or applicable legislation.
  • Provide technical support to business users in the testing, implementation and ongoing quality control of changes to the PAS.
  • Prepare business user guides to accompany any change in the PAS.
  • Assist in modernization of the PAS.

Administration

  • Assist with the management and maintenance of reciprocal transfer agreements.
  • Assist with the calculation and reporting of pension adjustments (PAs), past service pension adjustments (PSPAs), and pension adjustment reversals (PARs).
  • Assist with the periodic internal audit of all plan member activities, including, without limitation, pensions, cost calculations and estimates.
  • Provide support to the Member Services department with respect to the preparation and review of complex benefit calculations for members such as pension estimates, death benefits, final pensions, reciprocal transfers, lump-sum payments and relationship breakdowns.
  • Assist in the development, maintenance and enhancement of Member Services policies and procedures.
  • Assist with the documentation, review and enhancements of workflows within the Member Services department.
  • Assist with the development and delivery of training for Member Services staff.

Other

  • Perform various projects and duties as assigned.

Requirements

  • University degree in business, actuarial science or mathematics
  • Associate of the Canadian Institute of Actuaries (ACIA) designation, or similar combination of education and experience
  • Minimum five years of experience working with defined benefit pension plans in the pension industry
  • Significant experience working with pension policy, process improvements and pension legislation

TRAF offers a competitive salary and comprehensive benefit package. If you are interested in this position, please forward your resume and cover letter with the subject line “Actuarial Specialist” by Friday, August 21, 2020.

While all applicants will be considered, only those selected for an interview will be contacted.

Job Types: Full-time, Permanent

Benefits:

  • Company Events
  • Company Pension
  • Dental Care
  • Disability Insurance
  • Employee Assistance Program
  • Extended Health Care
  • Life Insurance
  • Paid Time Off
  • Vision Care
  • Wellness Program