Insurance company 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:
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
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(modeling, hedging and embedded derivatives)
Create presentations & documentation of analysis to present results to key players
Participate and contribute to product ideation process and future product conception
Apply deep technical understanding of pricing, hedging, solvency standards and financial reporting
Provide solutions to challenges that arise in the product development process
Work with ALM, valuation, finance, tax, hedging, legal, and various other partners
Partner with hedging team to ensure hedging costs are incorporated into pricing and risk analysis
Responsible for governance required within pricing and modeling work
Responsible for development and management of actuarial staff

Experience/Prerequisites:
FSA with 7+ years of experience in annuity pricing and product development
Ability to participate in highly technical discussions surrounding annuity pricing concepts
Strong understanding of risk-neutral pricing & hedging concepts
Strong verbal and written communication skills to present and discuss results of analysis
Experience building annuity pricing frameworks using industry standard annuity pricing software
Proficient in the use of Microsoft Office Suite including Word, Excel, Visio, Microsoft Project and Outlook.
Experience with Stochastic Modeling, or Deterministic Approximations there of (MG-ALFA a plus
Experience with hedging and arbitrage free, risk-neutral pricing/valuation concepts