About the Agency
The Pension Benefit Guaranty Corporation has a distinguished and important mission in protecting America's pensions. At PBGC, you will use your education to help us protect the retirement income of nearly 44 million hardworking Americans. Our work is challenging, compelling, and important. Whatever your background or expertise, you will find working at PBGC rewarding because the work you perform will have a daily impact on the lives of relatives, friends and neighbors.
We are counting on bright, talented and dedicated individuals like you to achieve our goals. You will be both challenged and supported, so whether you are just starting out or looking for new opportunities, consider PBGC. If you are interested in a challenging career with great benefits, training, and strong growth potential, we strongly encourage you to apply for the Student Trainee (Auditing) Internship position today!
The Standard Termination and Compliance Division supports the overall mission of PBGC to provide for the timely and uninterrupted payment of pension benefits to participants and beneficiaries by auditing a statistically significant number of plans that terminate as standard terminations to determine whether participants and beneficiaries have received all benefits due them. The American Customer Satisfactions Index ratings received by PBGC have been some of the highest in the government, and we continue to focus on initiatives that are customer-centric. We are looking for highly motivated individuals to assist us in our mission.
- You must be a U.S. citizen
- You may undergo a personnel security background investigation
- Selective Service registration required for male applicants, unless exempt
- Must sign a Pathways Agreement and provide official transcripts
- Provide proof of acceptance/current enrollment in a qualifying institution
- Must currently have and maintain cumulative and term GPA requirement
DUTIES: Back to top
The Student Trainee (Auditing) performs a variety of tasks assigned to provide experience and exposure in the practical application of accounting principles, procedures and techniques. Some of the duties are:
Conducting audits of standard terminations of defined benefit pension plans. The audits involve identifying source data and analyzing and evaluating information obtained from the plan administrator, enrolled actuary, and service providers to ensure compliance with the Employee Retirement Income Security Act (ERISA), PBGC regulations and the Internal Revenue Code (IRC) related to the determination of benefit entitlements under Title IV of ERISA.
Testing a statistically significant number of actuarial calculations by interpreting and applying plan provisions, PBGC regulations, ERISA, and the IRC to determine benefit entitlement and to compute and value participants benefits.
Reconciling financial data to confirm the amount of plan assets available to pay benefits and to ensure plan assets were sufficient to fully discharge all obligations under the plan.
QUALIFICATIONS REQUIRED: Back to top
All qualification requirements must be met by the closing date of this announcement.
You must have: A. A bachelor's degree from an accredited college or university in accounting or a related field such as business administration, finance, or public administration that included or was supplemented by 24 semester hours (38 quarter hours) in accounting. The 24 hours may included up to 6 credit hours (9 quarter hours) in business law OR B. Combination of Experience and Education: At least 4 years of experience in accounting, or an equivalent combination of accounting experience, college-level education, and training that provided professional accounting knowledge may be considered.
The applicant's background must also include one of the following: * Twenty-four semester hours in accounting or auditing courses of appropriate type and quality. This can include up to 6 hours of business law; or * A certificate as a Certified Public Accountant or a Certified Internal Auditor, obtained through written examination; or * Completion of the requirements for a degree that included substantial coursework in accounting or auditing, e.g., 15 semester hours, but that does not fully satisfy the 24-semester-hour requirement of paragraph A, provided that (a) you have successfully worked at the full-performance level in accounting, auditing, or a related field, e.g., valuation engineering or financial institution examining; (b) a panel of at least two higher level professional accountants or auditors has determined that you demonstrated a good knowledge of accounting and of related and underlying fields that equals in breadth, depth, currency, and level of advancement that which is normally associated with successful completion of the 4-year course of study described in paragraph A; and (c) except for literal nonconformance to the requirement of 24 semester hours in accounting, your education, training, and experience fully meet the specified requirements.
This position is located in Washington, DC. You will start at $34, 415 annually (GS-05) if you meet the following minimum qualification requirements:
Have (and maintain) a cumulative GPA of 2.8 or higher if undergraduate. Graduate students must have a cumulative GPA of 3.0 or higher.
You must remain enrolled at least half-time in order to continue to be eligible for the Pathways Internship Program.
You must be in good academic standing (you must not be on academic probation).
In addition to the education requirements, you must also possess the following by the closing date of the announcement: One year of specialized experience at or equivalent to the GS-4 grade level in the Federal service which demonstrates skill in applying practical analytical, investigative, and computer techniques and the ability to conduct basic financial statement reviews, analyze, interpret and evaluate data for compliance, and perform routine auditing and reconciliation of accounts. Examples include: evaluating bank statements or other source documents to determine solvency and compliance with legal regulations; examining expense reports; maintaining spreadsheets in Microsoft Excel or a similar spreadsheet application with basic formulas.
HOW YOU WILL BE EVALUATED:
Category Rating is being used for this position. If you meet the basic qualification requirements, we will further evaluate your resume and cover letter to determine the quality and extent to which your background (experience, education, training, etc.) relates to the following knowledge, skills, and abilities (KSAs):
1) Knowledge of auditing concepts and investigative techniques.
2) The ability to write reports and other work products.
3) The ability to communicate orally.
Based on that evaluation, we will place you in one of the following categories- 1) Gold; 2) Silver; 3) Bronze.
If, after your application has been rated by the Subject Matter Expert, you are found to meet none of the KSAS listed above, you will be placed in the Bronze category.
The Category Rating Method does not add veterans' preference points or apply the "rule of three," but protects the rights of veterans by placing them ahead of non-preference eligibles within each category. Preference eligibles who meet minimum qualification requirements and who have a compensable service-connected disability of at least 10 percent are listed in the highest quality category, except when the position being filled is scientific or professional at the GS-9 grade level or higher. A selecting official may make selections from the highest quality category (Gold) provided no preference eligible in that category is passed over to select a non-preference eligible in that category unless the requirements of 5 U.S.C 3317(b) or 3318(b) are satisfied.
How veterans preference is applied- All applicants who are eligible for veterans preference (based on the documents submitted) will receive preference over non-veterans
To preview questions please click here .
BENEFITS: Back to top
You can review our benefits at:
OTHER INFORMATION: PROGRAM COMPLETION AND CONVERSION: The Corporation has the option to convert an intern to a permanent position (or, in some limited circumstances, to a term position lasting 1-4 years) if the requirements of the program are met. This is not automatic. It is at the discretion of the employing office. To be eligible for conversion, an intern must:
Agencies may waive up to 320 of the required 640 hours of work for Interns who demonstrate high potential as evidenced by outstanding academic achievement and exceptional job performance.
- Be a U.S. Citizen
- Complete at least 640 hours of work experience acquired through the Internship Program.
- Complete their degree or certificate requirements.
- Meet the Office of Personnel Management's qualification standards for the position to which the intern will be converted (Auditor).
- Meet agency-specific requirements as specific in the Participant's Agreement, and
- Perform their job successfully as documented through performance evaluations and/or completion of an Individual Development Plan (IDP).
To learn more about the Pathways Internship Program, please visit: http://www.opm.gov/HiringReform/Pathways/program/interns/ .