Insurance company in the Midwest has a need for a Product Development Actuary to provide pricing support and analysis for new and existing products. The Actuary will design and build new pricing frameworks and analysis as well as prepare and present analysis results to key players. They will work independently to identify the requirements of projects and develop and execute on the required tasks. The Actuary will also aid in researching non-financial aspects of new product concepts including regulatory filings, operational requirements, and admin development. There will be supervisory responsibilities in this role.(2 direct reports)

Responsibilities:
Perform technical analysis for new and existing products
Develop framework to assess the risk and profitability of new and existing annuity product concepts
Perform initial economic feasibility analysis
Build pricing models using MG ALFA that will require significant creativity and custom coding to assess a variety of unique products and product features
Develop assumptions for products
Explore and understand reserve and capital impacts
Price/value embedded derivatives and assess hedging implications and costs
Utilize strong actuarial & risk management knowledge including stochastic modeling and understanding of hedging and embedded derivatives to capture all potential risks and costs in pricing analysis
Create presentations & documentation of analysis to present results to senior management & other key stakeholders
Participate in & contribute to product ideation process
Participate & contribute to discussions regarding potential future product concepts
Apply deep technical understanding of pricing, hedging, solvency standards and financial reporting
Develop & employ creative and innovative solutions to challenges that arise in the development, design, pricing, and implementation of new product concepts
Utilize strong actuarial & risk management knowledge and understanding of hedging and embedded derivatives to apply in development and assessment of new concepts
Accountable to work with ALM, valuation, finance, tax, hedging, legal, and various other partners as part of the new product development and implementation process to ensure pricing analysis accounts for all key elements involved in product concept
Partner with hedging team to ensure hedging costs are incorporated into pricing and risk analysis
Responsible for governance required within pricing and modeling work, ensuring pricing and modeling meets internal Product Development Process governance and other governance and documentation requirements
Responsible for development and management of actuarial staff

Experience/Prerequisites: