OUR MISSION
To foster accountability and transparency in Louisiana government by providing the Legislature and others with audit services, fiscal advice, and other useful information.
OUR CORE VALUES
Independence – We are independent in fact and appearance, objective and nonpartisan.
Excellence – We believe in doing our very best at everything we do.
Professionalism – We hold ourselves to the highest level of standards, competence, and character.
Credibility – We are accurate, reliable, responsive, and accountable.
Integrity – We maintain steadfast adherence to strict ethical standards.
Profile Of Position And Skills
The Associate Actuary position is an experienced position requiring the use of intuition, logic, analytical ability, technical knowledge, communication skills, and organizational skills to perform highly complex actuarial work. Work involves providing professional actuarial advice and consulting, participating in the development and implementation of improved actuarial policies and procedures, and managing special research assignments.
Supervision Received
An Associate Actuary will receive limited supervision with considerable latitude for the use of initiative and independent judgement.
Supervision Exercised
An Associate Actuary may supervise the work of other members of the Actuarial Services team.
Essential Competencies/Skills
- Ability to perform a wide variety of highly complex activities that require actuarial, mathematics and/or statistical experience.
- Comprehensive knowledge of the benefit structures associated with the Louisiana state and statewide retirement systems and post-retirement benefits other than pensions (OPEB) provided through the Louisiana Office of Group Benefits.
- Comprehensive understanding of Louisiana Law pertaining to the retirement systems, funding of the retirement systems, and the Louisiana Audit Law.
- Comprehensive knowledge of actuarial standards of practice and technical methods for addressing actuarial issues including the selection and use of funding methods and the selection and use of actuarial assumptions.
- Ability to effectively communicate complex actuarial concepts and methods in an understandable manner to non-actuarial professionals, e.g., auditors, legislators, attorneys, retirement board members and staff,
- Knowledge of accounting standards for cost-sharing and single employer government pension and OPEB plans.
- Knowledge of Microsoft Office (Access, Excel, Word, PowerPoint) software.
- Knowledge in other software and statistical analysis products (e.g. SQL, ProVal, etc.)
Examples of Work
- Develop spreadsheet applications to solve problems identified by supervisor.
- Develop and maintain actuarial valuation software (e.g. ProVal).
- Perform data base management functions pertaining to pension data sets, including data reconciliation and editing.
- Develop and maintain actuarial valuation reports and tools.
- Perform actuarial valuations, actuarial forecasts, and benefit calculations.
- Apply knowledge of the state and statewide retirement systems to help address and solve issues directed to the actuarial services division.
- Assist with bill tracking and actuarial note processing during the legislative session.
- Read, understand, and analyze bills during the legislative session in order to independently prepare actuarial notes.
- Communicate findings and conclusions to others (e.g. legislative committees and staff, other divisions in the office, external actuaries, retirement system boards and staff) through briefings, testimony, and presentations.
- Develop and maintain filing, copying, and clerical functions in accordance with office standards.
- Assist with other pension and insurance projects, including conducting research, analysis, and assisting in the drafting of reports.
Minimum Qualifications
- A baccalaureate degree in actuarial science, mathematics, statistics, insurance or related field.
- Understanding of actuarial, mathematics and/or statistical analysis.
- Demonstrated knowledge of Microsoft Office (Access, Excel, Word, PowerPoint) software.
- Associate of the Society of Actuaries (ASA) and three (3) years of actuarial work experience OR
- Five (5) years of actuarial work experience or near ASA.
Other Duties & Responsibilities
The above statements are intended to describe the general nature and level of the work being performed by individuals assigned to this position. They are not an exhaustive list of all duties and responsibilities. The absence of specific statements of duties does not exclude those tasks from the position if the work is similar, related to, or a logical assignment for the position.