Actuary, New Business Implementation-9176
Insurer in the Midwest has a need for a New Business Implementation Actuary. The role is responsible for interdepartmental new product implementation support. The incumbent will actively collaborate with other business leaders within the legal, compliance and IT departments. As a team leader within the client solutions department, the incumbent supervises as well as contributes to the development, validation, and production of actuarial materials, calculation tools, and associated analysis. This role will have 2-3 direct reports.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Collaborates with IT & operations departments to ensure consistency between product design specifications, contract language, and administration system requirements.
Collaborates with legal and compliance departments to develop and approve new contract language consistent with product specifications.
Constructs Actuarial materials and memoranda for new contract regulatory filings.
Researches and prepares accurate and timely responses to filing objections.
Collaborates with marketing and distribution departments to ensure calculation accuracy within marketing material and exhibits.
Creates and maintains validation tools to support accuracy within policy administration system(s) during implementation of new products.
Creates and maintains validation tools to support accuracy within policy illustration system(s).
Understands standard nonforfeiture requirements for fixed and indexed (non-variable) annuities across key US regulatory jurisdictions.
Ensures timely and accurate results to serve key stakeholders.
Contributes to improved efficiency through enhanced and automated processes.
Manages the selection and retention of talent
Monitors developments in the actuarial industry and remains current on applicable regulatory matters from a product perspective.
6 years of related actuarial experience, or equivalent combination of education/and experience.
Prior experience with Fixed Indexed Annuities (FIA’s) preferred.
ASA, MAAA required. FSA, MAAA preferred.