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About the Role

Community Financial System, Inc. (CFSI) is dedicated to providing friendly, personalized, high-quality financial services. Our retail division, Community Bank, N.A., operates over 200 facilities and offers commercial banking, wealth management, and insurance services. We are committed to our employees' long and successful careers by offering competitive compensation, great benefits, and professional development.

Responsibilities

Prepare annual actuarial valuations for small defined benefit plans and cash balance plans.
Calculate minimum and maximum deductible contribution requirements.
Determine funding requirements and contribution recommendations.
Prepare Schedule SB and other required IRS and Department of Labor filings.
Ensure compliance with ERISA, Internal Revenue Code, and related regulatory requirements.
Assist with plan terminations, freezes, mergers, and other plan amendments.
Serve as the primary actuarial consultant for assigned clients.
Communicate valuation results, funding strategies, and plan design recommendations.
Respond to client inquiries regarding pension regulations, contribution limits, and plan administration.
Conduct retirement benefit projections and participant calculations.
Perform pension funding and liability calculations.
Analyze census data and validate participant records.
Review actuarial assumptions and recommend appropriate methodologies.
Research legislative and regulatory developments affecting qualified retirement plans.
Work closely with third-party administrators, recordkeepers, investment advisors, and internal service teams.
Support new business opportunities through plan design illustrations and sales consultations.
Mentor junior actuarial analysts and review work products.
Maintain proficient knowledge of and demonstrate ongoing compliance with all applicable laws and regulations.
Ensure ongoing adherence to policies, procedures, and internal controls.
Meet all training requirements in a timely manner.
Perform ancillary/secondary duties as requested by manager or necessary to obtain business goals.

Requirements

Active Enrolled Actuary (EA) designation with the Joint Board for the Enrollment of Actuaries.
Bachelor's degree in Actuarial Science, Mathematics, Statistics, Finance, Economics, or a related field.
5+ years of experience working with defined benefit and/or cash balance retirement plans.
Strong knowledge of ERISA.
Strong knowledge of Internal Revenue Code qualification requirements.
Strong knowledge of Pension funding regulations.
Strong knowledge of Schedule SB preparation.
Strong knowledge of Defined benefit plan design and administration.
Proficiency with actuarial software and Microsoft Excel.
Excellent analytical, communication, and client relationship skills.
ASA, FSA, EA, MAAA, or progress toward actuarial credentials (Preferred).
Experience with owner-only, professional practice, and closely held business retirement plans (Preferred).
Knowledge of pension administration systems and compliance software (Preferred).
Experience working in a consulting environment (Preferred).
Strong attention to detail and accuracy.
Exceptional quantitative and analytical abilities.
Ability to explain technical concepts to non-technical audiences.
Client-service orientation.
Strong organizational and project management skills.
Ability to manage multiple deadlines simultaneously.
Problem-solving and critical thinking capabilities.
Must be 18 years of age or older.

Skills

Actuarial Valuations
Compliance
ERISA
Internal Revenue Code
Department of Labor filings
Plan terminations
Plan freezes
Plan mergers
Plan amendments
Client Service
Pension regulations
Contribution limits
Plan administration
Retirement benefit projections
Participant calculations
Pension funding calculations
Liability calculations
Census data analysis
Actuarial assumption review
Legislative research
Regulatory research
Qualified retirement plans
Collaboration
Microsoft Excel
Analytical skills
Communication skills
Client relationship skills
Quantitative abilities
Project management skills
Problem-solving
Critical thinking

Location

Upstate New York
Northeastern Pennsylvania
Vermont
Western Massachusetts

Work Type

Full-time

Experience Level

5+ years of experience

Education Level

Bachelor's degree in Actuarial Science, Mathematics, Statistics, Finance, Economics, or a related field.

Salary/Compensations

USD $106,000.00/Yr. - USD $196,775.00/Yr.

Benefits

11 paid holidays
Paid vacation
Medical insurance
Vision insurance
Dental insurance
401K with generous match
Pension
Tuition Reimbursement
Banking discounts

About the Company

Community Financial System, Inc. (CFSI) is dedicated to providing our customers with friendly, personalized, high-quality financial services and products.
Our retail division, Community Bank, N.A., operates more than 200 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont and Western Massachusetts.
Beyond retail banking, we also offer commercial banking, wealth management, investment management, insurance and risk management, and benefit plan administration.
We are committed to our employees, offering competitive compensation, great benefits, and professional development and advancement opportunities.

Equal Opportunity

As an equal-opportunity workplace and affirmative-action employer, we celebrate and support a diverse workplace for the benefit of all: our employees, customers and communities.
The Company is an Affirmative Action, Equal Opportunity Employer.
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex (including pregnancy, sexual orientation and gender identity), national origin, citizenship status, age, disability, genetic information, veteran status, or any other characteristic protected by applicable federal, state or local law.
The Company will make reasonable accommodations for qualified individuals with a disability.