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Actuarial Senior Manager - Benefits Finance

Bethesda, MD, United States

Posted on
Oct 27, 2020

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Description: This position has a prominent role in the Corporation’s benefit plan financial functions including calculation of self-insured medical and dental rates and determination of postretirement benefit plan (including defined benefit pension, retiree medical, long term disability, and other deferred arrangements) liability and expense as determined by US GAAP Accounting Standards (ASC), Cost Accounting Standards (CAS) and ERISA. This role supports the Corporation’s benefit plan related corporate and government audits, financial reporting, long range plan, and annual recurring and special projects with an emphasis on group insurance.

This position within the Benefits Finance Department (part of Corporate Accounting) coordinates with other corporate organizations including Government Finance, Tax, Human Resources, Financial Planning, Legal, Treasury, and Investor Relations while also partnering with business area staff and external providers.

Key Responsibilities Include:

• Support and oversee calculation and coordination of self-insured medical and dental rates

• Estimate cost impact of changes in health care plan provisions and offerings for a given population

• Review IBNR reserves provided by health insurance carriers

• Supervise and review the preparation of the Corporation’s long range plan including CAS forward pricing submission related to active group insurance and postretirement benefit plans

• Assist in the preparation and review of the Corporation’s quarterly and annual financial reports

• Ensure timely and accurate accounting entries related to benefit plans (including active group insurance and postretirement benefit plans)

• Ensure policies and practices are consistent with organization's strategies and compliant with government regulations

• Partner with internal staff and external providers in the calculations required for enterprise-wide benefit plans (primarily domestic with some international)

• Provide thought leadership, training, mentoring and guidance to the Benefits Finance team in the completion of key responsibilities

• Support corporate and government audit in answering questions, providing explanation, and defending methods and assumptions

• Support special projects including union negotiations, legislative changes, strategic actions, and M&A in estimating benefit plan impacts

Basic Qualifications:

• Bachelor’s degree in Actuarial Science, Math, Finance or other relevant discipline

• Credentialed actuary; minimum Associate of Society of Actuaries (ASA) and/or Enrolled Actuary (EA)

• Recent actuarial consulting firm or internal corporate experience (minimum 8 years as an actuary including at least 2 years in leadership role)

• Comprehensive knowledge of regulatory and legislative factors impacting benefit programs including Affordable Care Act, financial accounting, ERISA

• Proficiency in Microsoft applications (i.e. Excel, Word, PowerPoint)

• Strong organizational skills and attention to detail

• Collaboration skills and experience developing cross-functional and external relationships

• Excellent interpersonal, written, and oral communication skills

• Continuous learning attitude and willingness to teach others

Desired Skills:

• Cross-discipline background of group insurance, pension, and retiree medical (with an emphasis on group insurance)

• Creative and strategic thinking to improve processes and efficiency

• Experience with benefit plan accounting

• Knowledge and experience with Cost Accounting Standards (CAS) and Federal Acquisition Regulations (FAR)



Lockheed Martin is an Equal Opportunity/Affirmative Action Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, pregnancy, sexual orientation, gender identity, national origin, age, protected veteran status, or disability status.

Join us at Lockheed Martin, where your mission is ours. Our customers tackle the hardest missions. Those that demand extraordinary amounts of courage, resilience and precision. They’re dangerous. Critical. Sometimes they even provide an opportunity to change the world and save lives. Those are the missions we care about.

As a leading technology innovation company, Lockheed Martin’s vast team works with partners around the world to bring proven performance to our customers’ toughest challenges. Lockheed Martin has employees based in many states throughout the U.S., and Internationally, with business locations in many nations and territories.


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