Actuarial Consultant
3 months ago
Overview:
The Actuarial Consultant may have wide range of responsibilities that may include but not be limited to Valuation and reserving, asset liability modeling, economic capital modeling, cash flow testing, pricing & product develop, data analytics and data science, product management, underwriting and risk pricing.
The Actuarial Consultant will be expected to interact with all areas of the company and as a leader to less experienced actuaries in the company. The actuarial consultant may be asked to serve in a formal management function depending on the needs of the company. The Actuarial Consultant will be expected to plan and organize short- and long-term activities necessary to achieve established goals with minimal supervision. The Actuarial Consultant is expected to stay current on the latest trends impacting life insurance and annuity business.
Responsibilities:Position Responsibilities
Financial Modeling
- Responsible for the development, enhancement, governance and maintenance of asset and liability models supporting all lines of life insurance and annuities.
- Must have experience using modeling software such as MG-ALFA. Models are used for Valuation, Corporate Planning, Investment Analysis, Cash Flow Testing, Principle Based Reserving, Reinsurance and other potential use cases.
Pricing & Product Development
- Responsible for the pricing, modeling, filing, implementation, profitability analysis and assumptions of Life and Annuity products. Must have experience using pricing software such as MG-ALFA.
- Responsible for ensuring new products comply with various state and federal regulation and ensure that profitability objectives of new business are achieved.
Valuation
- Responsible for managing all aspects of Statutory, GAAP and Tax valuation. Creates appropriate actuarial financial reporting to support finance department.
- Experience and/or knowledge of emerging changes to valuation including Principle Based Reserves and Long Duration Targeted Improvements is required.
Product Management & Underwriting Innovation
- Responsible for analyzing inforce and experience study results with the goal of recommending strategies and modifications that support product profitability and new business sales objectives. This will be done using a combination of traditional A/E studies, statistical analysis and machine learning.
- Supports innovation of risk selection and risk pricing.
Required Education and Certifications
- Bachelors degree in actuarial science, mathematics or a related field.
- FSA Designation preferred
- CERA Designation preferred
Experience Required
- Minimum of ten years of experience in Life Insurance and/or Annuities
- Extensive experience with Microsoft Excel
- Experience managing large data sets and database software using Microsoft Access, SQL, R and/or Python
- Experience with modeling and pricing software such as MG-ALFA
WHAT WE OFFER:
- A collaborative, energetic work environment where you can put your passion for people to work
- Medical, Dental, Vision, Life and Disability coverage available day one
- Pension Plan
- Performance-based incentive plan
- 401k available with a Company match
- Holidays and Paid Time Off
- AAA Basic Membership