Early Careers: Retirement Actuarial Internship

3 weeks ago

New York NY US WTW Full time

HIRING LOCATIONS: NEW YORK, NY; BOSTON, MA; PHILADELPHIA, PA; SHORT HILLS, NJ; STAMFORD, CT

The Business

Create your future.  Join our Retirement consulting team in providing expertise in retirement consulting to support global organizations in optimizing the effectiveness of their employee retirement. Whether a client has a defined benefit pension or a defined contribution plan, we work with them to determine the right approach to designing, funding, investing, communicating, governing and employee management that fits their specific goals.  You will also learn about all the services that Willis Towers Watson offers their clients and how they complement and enhance our retirement consulting practice. 

Explore an opportunity.  Gain direct exposure to real client assignments and meetings which will draw on your imagination and creativity as well as your ability to analyze data, solve problems, develop solutions, and share your results.  In this role, you’ll experience a balance of expanding your technical and industry knowledge and developing your problem solving and communications skills, while benefiting from working in a close-knit and supportive team environment.   

Learn the industry. Kickoff the internship at a multi-day session with other interns across the local region to network and learn about WTW from various leaders amongst the Retirement business. Throughout the summer, engage in a robust training program within your local office in order to enhance your understanding of basic pension consulting.  

Grow with mentorship. You will have close interaction and support throughout the summer from your very own Lead Retirement Consultant mentor. This consultant will work with you on client assignments, give you an inside look at how the business works, and advise you on future career growth. 

Work towards becoming a credentialed actuary. Accepted applicants will be eligible for a comprehensive actuarial exam study program, including paid study hours and exam coaching to assist in attaining an accredited actuarial designation. 

Love your work.  You will partner with consultants to provide technical actuarial and consulting support on projects like: 

  • Designing, funding, pricing, and the implementation and management of retirement programs 
  • Preparing and assistance with the delivery of client presentations and communications 
  • Competitive benchmarking analysis of benefit plan designs  
  • Corporate restructuring and capital enhancement initiatives (demutualization, securitization, mergers & acquisitions) 
  • Forecasting future pension plan costs 
  • Performing annual pension (qualified and nonqualified) and post-retirement medical valuations for a variety of clients  
  • Assisting with completion of plan reporting and filing requirements  
  • Performing plan administrative tasks such as completing benefit calculations, reviewing plan documents and SPDs, and producing benefit statements  
  • Analyzing de-risking options for defined benefit plans (bulk lump sums, retiree annuity purchases, plan terminations) 

About you.

  • Progress towards a Bachelors or Master’s degree in actuarial science, mathematics, statistics, finance or any other major with significant quantitative course work with a minimum overall GPA of 3.0 (Junior standing preferred; Sophomore considered with other relevant internship experience)
  • Successful completion of one or more actuarial exams highly preferred
  • Work experience that demonstrates strong technical and/or client service skills
  • Passion for solving problems and sharing solutions to exceed the standards of the client
  • Ability to be a self-starter and work independently, but also cooperatively in a close team environment
  • Excellent oral and written communication skills
  • Excellent Microsoft Office skills, particularly in Excel
  • Accepting applications from candidates that graduate with a Bachelor’s or Master’s degree between December 2023 through June 2025

The Application-Interview Process:

Step 1: Online application, including resume/CV

Step 2: Online assessments and Video Interview

Step 3: Virtual Interview with business

Step 4: Offer and on-boarding

Compensation and Benefits

Base salary range and benefits information for this position are being included in accordance with requirements of various state/local pay transparency legislation. Please note that base salaries may vary for different individuals in the same role based on several factors, including but not limited to location of the role, individual competencies, education/professional certifications, qualifications/experience, performance in the role and potential for revenue generation (Producer roles only).

Compensation

The hourly rate being offered for this role is $26-$33/hr.

This role is also eligible for over-time.

Company Benefits

WTW provides a competitive benefit package which includes the following (eligibility requirements apply):

Retirement Benefits: Contributory Pension Plan and Savings Plan (401k). All Level 38 and more senior roles may also be eligible for non-qualified Deferred Compensation and Deferred Savings Plans.

WTW Work Flex:

At WTW, we trust you to know your work and the people, tools and environment you need to be successful. The majority of our colleagues work in a ”hybrid” style, with a mix of remote, in-person and in-office interactions dependent on the needs of the team, role and clients. Our flexibility is rooted in trust and “hybrid” is not a one-size-fits-all solution. Visit our career site for more information:

Recruiting tips:

WTW specializes in preparing for the unknown. Here’s how to get ready for the big day:

EOE, including disability/vets

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