Actuary

As an Actuary with the U.S. Office of Personnel Management, Healthcare and Insurance, Office of the Actuaries, you will perform expert actuarial analysis of federal benefits programs, evaluate costs and liabilities, develop models, and provide recommendations that inform policy decisions affecting retirement, health, and insurance programs. Assignments cover a wide variety of complicated actuarial problems, often involving new concepts in benefits design.

Qualifications:

Basic Education Requirement GS 13 Grade level:

A. A bachelor's degree that included courses in actuarial science, mathematics, relevant statistics, business, finance, economics, insurance, or computer science totaling at least 24 semester hours. This course work must have included a minimum of 12 semester hours of mathematics that included differential and integral calculus and one or more courses in mathematics for which these calculus courses were prerequisites. (TRANSCRIPTS REQUIRED AT TIME OF APPLICATION).

OR

B. Combination of education and experience that includes both of the following requirements: Technical work experience in actuarial support work or in mathematics; and completion of a minimum of 24 semester hours of courses in actuarial science, mathematics, relevant statistics, business, finance, economics, insurance, or computer science at a four year college or university. This course work must have included a minimum of 12 semester hours of mathematics that included differential and integral calculus and one or more courses in mathematics for which these calculus courses were prerequisites; AND One year of actuarial experience equivalent to the GS-12 grade level. (TRANSCRIPTS REQUIRED AT TIME OF APPLICATION).

Basic Education Requirement GS 14 Grade level:

A. A bachelor's degree that included courses in actuarial science, mathematics, relevant statistics, business, finance, economics, insurance, or computer science totaling at least 24 semester hours. This course work must have included a minimum of 12 semester hours of mathematics that included differential and integral calculus and one or more courses in mathematics for which these calculus courses were prerequisites. (TRANSCRIPTS REQUIRED AT TIME OF APPLICATION).

OR

B. Combination of education and experience that includes both of the following requirements: Technical work experience in actuarial support work or in mathematics; and completion of a minimum of 24 semester hours of courses in actuarial science, mathematics, relevant statistics, business, finance, economics, insurance, or computer science at a four year college or university. This course work must have included a minimum of 12 semester hours of mathematics that included differential and integral calculus and one or more courses in mathematics for which these calculus courses were prerequisites; AND One year of actuarial experience equivalent to the GS-13 grade level. (TRANSCRIPTS REQUIRED AT TIME OF APPLICATION).

In addition to the basic requirement listed above applicants must meet the specialized experience listed below to be considered minimally qualified:

For the GS-13 Grade level: You must have one year of specialized experience equivalent to at least the GS-12 level in the Federal service (or equivalent) performing ALL of the following:

• Applying actuarial principles and methods to perform analyses or valuations of retirement, health, life insurance, or similar financial programs; AND
• Analyzing program data, trends, and demographic information to assess costs, risks, and program performance; AND
• Assisting in evaluating actuarial soundness and financial impacts of existing or proposed programs, policies, or benefit designs; AND
• Preparing technical reports, summaries, or recommendations and communicating findings to stakeholders or senior staff

For the GS-14 Grade level: You must have one year of specialized experience equivalent to at least the GS-13 level in the Federal service (or equivalent) performing ALL of the following:

• Performing actuarial analyses and valuations for retirement, health, life insurance, or similar financial programs using accepted actuarial principles and standards; AND
• Analyzing large datasets and demographic information to assess trends, costs, and financial risks, and developing actuarial models or tools; AND
• Evaluating program costs, liabilities, and financial soundness, and providing recommendations to support policy or program decisions; AND
• Preparing technical reports, documentation, or briefings and communicating complex actuarial findings to stakeholders or leadership

You must meet all qualification and eligibility requirements by the closing date of this announcement.

Experience refers to paid and unpaid experience, including volunteer work done through National Service programs (e.g., Peace Corps, AmeriCorps) and other organizations (e.g., professional; philanthropic; religious; spiritual; community, student, social). Volunteer work helps build critical competencies, knowledge, and skills and can provide valuable training and experience that translates directly to paid employment. You will receive credit for all qualifying experience, including volunteer experience.

Responsibilities:

• Perform complex actuarial valuations and analyses for federal retirement, health, and insurance programs (CSRS, FERS, FEHB, FEGLI, PSHBP).
• Analyze large datasets and demographic trends to assess program experience and financial impacts.
• Determine program costs, actuarial liabilities, and financial soundness using accepted actuarial principles and standards.
• Develop actuarial models, tools, and innovative methodologies to evaluate benefit design and policy changes.
• Provide expert recommendations that inform OPM policy and major program decisions.
• Negotiate premiums with carriers and evaluate necessary adjustments for federal benefits programs.
• Prepare technical reports, documentation, and briefings; advise leadership and mentor junior staff.

Salary : $120,579