Associate Actuary, GAAP Financial Reporting (Remote or Hybrid)-9456
Insurance company in the Midwest has a need for a GAAP Financial Reporting, Associate Actuary. The incumbent contributes to the actuarial valuation and financial reporting of fixed indexed annuities and other small annuity blocks of business. The incumbent contributes to the execution of actuarial models and associated analysis; and maintains accurate valuation records and cash flow models.
Responsibilities: Provide timely and accurate reporting, validation and analysis of liabilities, as well as delivery of required quarterly and year-end US GAAP reporting items based on MG-ALFA projection outputs; Focuses on US GAAP reporting, including but not limited to the following metrics: FAS 97, FAS 133, SOP 03-1 and DAC; Supports the development of a repeatable reporting process with proper controls and documentation, to be consistent with the best practice of risk management and audit controls; Maintains and executes an industry best practice actuarial control framework for SOX 404 requirements; Completes the internal and external audit deliverables with timely and accurate preparation and validation, and applicable maintenance of valuation assumptions and inputs; Supports creation of reports for fixed indexed annuities or similar products for management reporting of US GAAP financial results; Supports the actuarial side of Long Duration Targeted Improvements.
3+ years of related actuarial experience, or equivalent combination of education and/or experience
GAAP Financial Reporting knowledge
General knowledge of the life and annuity industry and products
Knowledge and systems aptitude with actuarial software (MG-ALFA or similar).
Ability to read, analyze, and interpret technical journals, financial reports, and legal documents from regulatory agencies, and other members of the business community.
Understanding of actuarial principles / practices, and ability to apply that knowledge to a wide range of intellectual and practical problems.