Associate Actuary - Annuity Valuation - Life - 9472
Insurance company in the Midwest has a need for an Associate Actuary for the Corproate Life Valuation team. This position is a department subject matter expert on principle-based and formulaic annuity statutory and tax reserving and the corresponding actuarial financial reporting and controls. This position is essential for the company's management of risk and to assure the appropriate level of profitability. This position is responsible for providing actionable information that enables good business decisions along with designing and managing project initiatives and business processes within job area.
Responsibilities: Responsible for both principle-based reserving (PBR) and formulaic reserving for annuity products, including both VM-21 and VM-22; Provide analysis of values related to quarterly statutory and tax annuity reporting; Create business requirements and perform detailed audit control testing for new annuity product statutory and tax valuation; Document decisions made, processes put in place and other work performed; Support process improvement projects; Lead implementation of VM-22; Create a high performing culture through associate and business resources; Design and implement programs or processes to achieve business results; Identify and resolve problems for both internal & external parties; Monitor and evaluate adherence to regulations, policies, and procedures; Perform stress testing and scenario analysis to equip management to make strategic decisions; Compile and analyze data, using statistical formulas and other actuarial methods; Respond to requests for information from actuaries or other departments; Design, test and maintain actuarial models; Develop partnerships within the organization to engage in cross-functional business initiatives; Present and represent company to external stakeholders.
· 4-7+ years of actuarial experience, with specific variable annuity and/or indexed annuity with living benefits experience
· ARCVAL/CASE or Prophet software knowledge strongly preferred
· ASA or FSA
· Advanced knowledge of insurance products and concepts, actuarial theory and techniques, and regulation of the insurance industry.
· Ability to clearly and thoroughly document assumptions, decisions, processes, and other work performed.
· Project management experience with the ability to multi-task and switch back and forth between projects.