Sr. Actuary, Product Development - Life - 9587
Insurance organization in the Midatlantic US has a need for a Sr. Product Development Actuary. This role is an integral part of the pricing and product development team, ultimately reponsible for leading the evaluation, development and implementation of new product ideas and changes to new and existing products to ensure market competitiveness while meeting profit and risk requirements.
Responsibilities: Provide thought leadership and actuarial expertise to a cross-functional team responsible for evaluating and prototyping new product, capital management, and underwriting ideas: Lead pricing efforts while balancing competitiveness, profitability, and risk standards; Leverage modern technological platforms to develop, deploy, and maintain leading edge pricing tools; Integrate and work to constantly improve the use of predictive analytics in pricing process; Analyze and document financial impacts of any new products or product changes and communicate results to key stakeholders; Present business cases and pricing proposals to company's executive team for final approval; Provide regulatory and product implementation support; Review, analyze the pricing impact of, and implement into the pricing models; Lead a cross-functional team to develop or revise, and file policy forms; Provide actuarial support for product filings; Collaborate with employees from across the organization to help bring products to market; Perform assumption review, analysis, and documentation for annual Illustration Actuary Testing for new and inforce products; Actuarial Pricing Assumption Review and Development; Assist with the research, development, analysis, and proposal of assumptions; Work with cross-functional teams to understand how emerging experience and emerging pricing and underwriting practices will impact new business pricing; Actuarial Model Development and Maintenance; Develop, utilize, and maintain actuarial models that comply with company's Model Risk Control Framework; Implement, review, and document model and assumption changes; Manage and Develop Staff; Recruit, develop, and retain a qualified staff to perform pricing and product development functions; Provide oversight and direction of staff;
10 years of experience (or equivalent, a combination of advanced education and work experience)
Retail Term and Universal Life pricing experience (or equivalent) desirable
Ability to communicate complex financial issues to both technical and non-technical audiences.
Significant experience with MG-ALFA, or similar actuarial software
Product development experience
Proven track record presenting to and influencing senior management
Ability to mentor less tenured team members enabling their professional growth