DIVISION: Labor Contract Analysis, Misc. Budget, Pension Analysis, Information Systems, Expense Budget, Financial and Personnel Planning and Budget Publications, Budget Systems, Savings, and Contract Coordination
TASK FORCE/ UNIT: Pension Analysis
JOB TITLE: One (1) Assistant Analyst / Analyst / Senior Analyst
CONTROL CODE: LMP-21-02
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 more than 80 City agencies.
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 700,000 active employees and retirees and have assets of $176 billion. This task force oversees the City’s $10 billion contribution to these funds and analyze approximately $200 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 200,000 accounts and have assets of over $20 billion.
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.
· 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.
Assistant Analyst ($46,856+): Bachelor’s degree in Finance, Actuarial Science, Mathematics, Economics, Public Policy Analysis/Administration, or a subject related to the specific assignment with no or one year of full-time experience in budgetary planning/management, financial analysis, public policy analysis/administration or a related field.
Analyst ($62,480+): Bachelor’s degree in Finance, Actuarial Science, Mathematics or a field related to the specific assignment and a minimum of two years’ experience in financial analysis, actuarial analysis, budgetary planning/management, public policy analysis/administration, or a related field; or an awarded Master’s degree in Actuarial Science, Financial Management, Mathematics, Public Administration or a field related to the specific assignment.
Senior Analyst ($70,291): Bachelor’s degree in Finance, Actuarial Science, Mathematics or a field related to the specific assignment and a minimum of three years’ experience in financial analysis, actuarial analysis, budgetary planning/management, public policy analysis/administration, or a related field; or an awarded Master’s degree in Actuarial Science, Financial Management, Mathematics, Public Administration or a field related to the specific assignment.
THE OFFICE OF MANAGEMENT AND BUDGET AND THE CITY OF NEW YORK ARE INCLUSIVE EQUAL OPPORTUNITY EMPLOYERS 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.
You must be a New York City resident within 90 days of the date of appointment
and you must be legally eligible to work in the United States.