Benefit Calculation Analyst (5191)

Job Posting

Benefit Calculation Analyst
Organization:  Alberta Pensions Services
Province:  Alberta
Location:  Edmonton
Job Start Date:  02-Nov-2020
 
Description:

Alberta Pensions Services Corporation (APS) is made up of hardworking, respectful and talented individuals who understand and invite diversity into their workplace. Our employees bring financial, business, communications, technology and client service expertise to the table every day.

To attract and retain employees of the highest calibre, we strive to focus on the people who make the business successful. By incorporating engagement activities throughout the year, we continue to strengthen our corporate culture and maintain a positive work environment for our employees.

APS is recruiting for a Benefit Calculation Analyst.

Reporting to the Mananger, Client Operations, the Benefit Calculation Analyst ensures compliance and accuracy of pension calculations. In addition, the incumbent will be a contact with plan actuaries in dealing with formula updates to achieve periodic certification of calculations. The Benefit Calculation Analyst will provide support for Client Operations in the enhancement of calcutions within pension administration systems, testing and fulfilling of operational requirements due to system limitations or defects.

Data Integrity & Validation

  • Review and verify complex calculations performed in the system. These calculations are time sensitive and cover all pension events, some of which have a significant degree of complexity and require historical knowledge or additional research.
  • Manually calculate benefits across all plans in cases where the system is unable to provide accurate results.
  • Perform research, analysis and validation on ad hoc requests from internal stakeholders relating to complex case files requiring calculations.
  • Develop and update manual calculators (excel spreadsheets) that are user friendly to ensure accuracy of calculations in cases where the system is unable to provide accurate results. Manipulation of calculators require the ability to make assumptions by mimicking complex and rare scenarios, and building spreadsheets to be intuitive, detailed, and highly accurate.
  • Act as a point of contact for the Actuary to achieve certification of actuarial calculations. This requires understanding of commuted values, actuarial reserves, and normal form conversions in accordance with CIA standards, plan valuation assumptions and/or regulatory requirements).
  • Consistency with calculators, ensuring plan assumptions and administrative assumptions are implemented in a timely manner.
  • Act as a liaison between operational staff and technical professionals during development, implementation and/or updates of pension calculations in administration software.
  • Identify defects within the system, investigate causes and analyze scope and impacts. Work with APS staff to ensure that defects are corrected and tested to confirm the accuracy of calculations coming out of the administration system.
  • Complete special projects related to system enhancements by organizing and coordinating information and requirements; planning, arranging and meeting schedules; monitoring results.

Pension Knowledge Transfer

  • Conduct peer reviews and provide guidance to operations representatives. Provide insight, advice and recommendations to others related to complex pension calculations, policy, regulatory and/or process changes as required.
  • Evaluate administrative process, ensure overall consistency with assumptions and processes.
  • Participate in operational team meetings by conducting education sessions or answering questions as a subject matter expert on pension calculations, which include complex files that require individual attention.
  • Supply simplified calculation tools to staff and provide training to enhance understanding of amounts determined by the pension administration system.
  • Maintain procedures on updating actuarial inputs for manual processes which include excel spreadsheet calculators (i.e. commuted values, interest rates, Alberta inflation rates, average industrial wages, etc

How to Apply:

If you are interested in this position, please submit your resume to Human Resources at [email protected]  . Each submission needs to clearly indicate the competition number of the position you are applying for.

Please Note: If you are submitting a resume for multiple positions, please send a separate submission for each competition. The successful candidate(s) will be required to undergo a security screening as a condition of employment.

Thank you for your interest in Alberta Pensions Services Corporation (APS). Only those candidates selected for interviews will be contacted.

Requirements:

Qualifications:

  • University degree from a post-secondary institution related to actuarial science, business, commerce, economics, finance, mathematics, accounting with 5 to 9 years directly related experience; or
  • Business diploma with 10 or more years of directly related experience.

Knowledge, Skills and Abilities:

  • Advanced knowledge of Microsoft Excel.
  • Working knowledge of other Microsoft Office applications.
  • In depth knowledge of highly technical areas of pension plans (with respect to taxation, legislation, administration and actuarial practices).
  • Complete understanding of complex pension plans including plan rules and legislation.
  • Advanced communication capabilities in both technical and non-technical language.
  • Experience working with pension actuaries.
  • Knowledge of Actuarial concepts.
  • Decision-making and communication skills (oral and written).
  • Critical thinking.
  • Advanced analytical and problem-solving skills.
  • Organizational and time management skills.
  • Advanced mathematical and financial aptitude.
  • Proven ability to work effectively in a team setting or independently, as needed.
  • Ability to provide feedback and build relationships with other departments.
  • Effective presentation skills.