The incumbent of this position serves as Chief Actuary of the Department of Defense, furnishing professional advice, reports, actuarial analysis, and related data pertinent to the administration and revision of certain military compensation programs, such as retired pay, survivor benefits, retiree health care, and prefunded education benefits. Please see https://actuary.defense.gov/ for more information about this directorate.Learn more about this agency
As Chief Actuary for DoD, the incumbent has complete responsibility for planning, developing, executing, and perfecting the actuarial program at DoD. This includes, but is not limited to, the following responsibilities:- Plans, directs, and conducts annual actuarial valuations of the military retirement system in order to adhere to the reporting requirements of the Chief Financial Officers Act and to determine actuarial funding requirements for the Military Retirement Fund. Has full authority and responsibility for selecting all assumptions and technical procedures used in the valuation subject only to professional and accounting standards and the statutory reviewing powers of the DoD Boards of Actuaries. Prepares cost estimates and actuarial analyses for proposals to amend the military retirement system for the use of DoD, the Services, OMB, Congress, and other interested parties.
- Prepares long-range (100 year) projections of disbursements from and income to the Military Retirement Fund. As of the end of FY 2016, this fund was valued at $664 billion. Prepares short-term monthly projections of disbursements from and income to this same fund in order to help the Fund's investment manager set investment policy within DoD
- Prepares and publishes annual statistical report on the Military Retirement System in order to facilitate and educate policymakers in regard to demographics of retirees.
- Supervises the actuarial valuation of post-retirement health care benefits for military personnel, dependents, and survivors.
- Acts as a consultant to DoD high-level officials on all matters pertaining to the actuarial status of the compensation system. Directly impacts policy decisions by advising the administration on budget problems as well as private and other public sector policy. Advises representatives including the Boards of Actuaries, on actuarial problems relating to DoD's operations; attends congressional hearings on proposed legislations; and testifies before congressional committees as required.
- Calculates normal costs and the liability of the DoD Education Benefits Fund ($1.1 billion at the end of FY 2016).
- Acts as Executive Secretary to the Secretary of Defense-appointed DoD Board of Actuaries and DoD Medicare-Eligible Retiree Health Care Board of Actuaries.
- Communicates with actuaries and officials of other government agencies as well as with non-governmental actuaries on matters pertaining to the actuarial aspects of DoD compensation systems.
Occasional travel - You may be expected to travel for this position.
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This job originated on www.usajobs.gov. For the full announcement and to apply, visit www.usajobs.gov/GetJob/ViewDetails/528034000. Only resumes submitted according to the instructions on the job announcement listed at www.usajobs.gov will be considered.