First American Bank is a family owned, full-service bank with 53 locations in Illinois, Florida, and Wisconsin, and $4 billion in assets. Our mission is simple:  to offer competitive banking products with the personal attention and service customers deserve. First American Bank can offer employees a level of visibility and stability that is difficult to find in many larger corporations. We are looking for people who want a career - not just a job!

First American Bank is an equal opportunity employer and gives consideration for employment to qualified applicants without regard to race, sex, ethnicity, color, national origin, religion, age, disability, sexual orientation, gender identity, genetic information, veteran status, pregnancy or any other protected groups covered by Federal, state, or local laws.  If you'd like more information about your EEO rights as an applicant under the law, please click here for the EEO is the Law Poster and here for the EEO is the Law Poster Supplement.

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Defined Benefit Retirement Plan Consultant/ Actuary
Job Code:19-1534-WMG-EGV700
Location:Elk Grove Village, IL - 700 Busse Rd
Job Category:Qualified Retirement Plans
Employment Type:Full Time
Job Description
This position is responsible for preparing and reviewing administration, benefit calculations and other related activities for defined benefit plans (both funding and financial statement disclosure purposes) for small to medium-sized businesses primarily located in the Midwest.


Responsible for full administration of traditional defined benefit and cash balance retirement plans inclusive of contribution calculations, Pension Benefit Guaranty Corporation premium determinations, distribution package preparation and annual compliance testing.

Perform actuarial valuations for plans of varying size and complexity.

Review plan documents and properly apply provisions for benefit calculations and plan administration.

Review plan account statements to determine fair market and actuarial value of assets.

Consult with relationship manager regarding the plan design and compliance with consideration of client goals.

Communicate directly with clients, professional advisors and external auditors.  

Accompany relationship manager to meetings with clients and plan participants.

Complete and review required governmental disclosures and reporting forms.

Assist in the training of technical staff within the Retirement Plan Services department.

Manage time to assure work is completed within the firm’s guidelines.


Bachelor’s degree required.

Enrolled Actuary status.

Minimum of 7 years’ experience with qualified traditional and cash balance defined benefit plans for single employers.

Strong working knowledge of ERISA, Code and pertinent pension regulatory guidance.

Excellent organizational skills with strong attention to detail.

Prior experience communicating with Department of Labor, Internal Revenue Service, and Pension Benefit Guaranty Corporation representing retirement plan clients a plus.

Strong verbal and written communication skills.

Ability to present technical topics in a clear, concise manner.

Advanced experience with Microsoft Office, including Word and Excel.
Experience with commercial pension system.

Travel requirements are as needed, on a local basis.

M-F 8:00am to 5:00 pm.  Additional hours required for special projects as needed.

First American Bank is an Equal Opportunity Employer (Minorities/Females/Disabled/Veterans).

First American Bank will not sponsor applicants for work visas.