Analyst - Pension Analysis
2 months ago
Job Description
DIVISION:Workforce, Office of Budget Review, Info Systems, and Technology Management
TASK FORCE/ UNIT: Pension Analysis
JOB TITLE: One (1) Analyst / Senior Analyst / Supervising Analyst
CONTROL CODE: LMP-24-01
SUMMARY:
The Mayor's Office of Management and Budget (OMB) is the City government's chief financial agency. OMB's staff of analysts and experts assembles and oversees the Mayor's expense and capital budgets, which fund the services and activities of approximately 90 City agencies and entities.
The Pension Analysis Task Force is responsible for monitoring and analyzing the valuation of New York City's five actuarial pension funds, which cover more than 730,000 active employees and retirees and have assets of $195 billion. This task force oversees the City's $10 billion contribution to these funds and analyze approximately $235 billion in actuarial liabilities. In addition, this unit is responsible for monitoring and managing the City's Deferred Compensation Plan (DCP), which covers more than 250,000 accounts and have assets of over $30 billion.
JOB DESCRIPTION:
The duties of this position encompass the following activities:
-Create complex financial models to estimate the impact of changes in retirement benefits on required contributions.
-Analyze and reconcile actuarial valuations and projections prepared by the Office of the Actuary.
-Analyze actuarial assumptions and methods; required and proposed accounting disclosures, and the status of retirement plans
-Review fiscal notes prepared by the Chief Actuary.
-Monitor the status of actuarial experience studies and audits.
-Monitor pension asset performance, perform cost analyses pertaining to collective bargaining agreements, and evaluate proposed pension legislation.
-Review and monitor DCPs' asset performance and communication, and assist with investment manager selection.
-Prepare and present reports to senior management.
-Work on special projects as needed.
QUALIFICATIONS:
-Previous actuarial/budget/finance experience is strongly preferred.
-Strong attention to detail, as well as superb analytical and quantitative skills.
-Ability to work calmly and proficiently under pressure and to adhere to strict deadlines.
-Able to work effectively individually and/or in a team environment.
-Excellent written, verbal, and interpersonal communication skills.
-Must be proficient in Microsoft Word, Excel, and PowerPoint.
-Must be able to work late nights and weekends as needed.
REQUIREMENTS:
Analyst ($74,893+): Bachelor's degree in Business, Finance, Economics, Public Policy Analysis/Administration, or a subject related to the specific assignment and a minimum of two years of budgetary planning/management, financial analysis, public policy analysis/administration, or a related field; or an awarded Master's degree in Financial Management, Business, Public Administration or a field related to the specific assignment.
Senior Analyst ($84,257+): Bachelor's degree in Business, Finance, Economics, Public Policy Analysis/Administration, or a subject related to the specific assignment and a minimum of three years of full-time experience in budgetary planning/management, economic development, financial analysis, public policy analysis/administration, or a related field; or an awarded Master's degree in Business, Public Policy Administration, Finance, Economics, or related field, and one year of relevant experience.
Supervising Analyst ($95,208): Bachelor's degree and a minimum of four years of full-time experience in budgetary planning/management, accounting, financial analysis, public policy analysis or a related field, or an awarded Master's degree in Business, Public Administration, Finance, Economics, or a related field, and two years of relevant experience.
Qualifications
1. A baccalaureate degree from an accredited college.
Additional Information
The City of New York is an inclusive equal opportunity employer committed to recruiting and retaining a diverse workforce and providing a work environment that is free from discrimination and harassment based upon any legally protected status or protected characteristic, including but not limited to an individual's sex, race, color, ethnicity, national origin, age, religion, disability, sexual orientation, veteran status, gender identity, or pregnancy.
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