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Actuarial Assistant

4 months ago

Livonia, Michigan, United States AAA Life Insurance Company Full time
Overview

AAA Life is seeking an Actuarial Assistant who would be responsible for developing and maintaining actuarial functions relating to product development, reserve valuation, financial reporting, forecast cash flow testing, and reinsurance.

Responsibilities

Job Description:

General Purpose

Operating within the core values and operating principles of the organization, responsible for developing and maintaining actuarial functions relating to product development, reserve valuation, financial reporting, forecast cash flow testing, and reinsurance.

Position Responsibilities
  • Has good programming skills in Access and is proficient in Excel and an advanced programming language (e.g., VBA, SQL, etc.)
  • Has good product knowledge and understands databases
  • Is capable of reviewing work for reasonableness and accuracy
  • Has basic understanding of actuarial concepts and can grasp new concepts quickly
  • Can identify a problem and takes the initiative to figure out how to resolve it
  • Demonstrates familiarity with actuarial guidelines and regulatory requirements impacting work and is capable of researching those guidelines and regulations.
  • Maintains and updates controls and documentation
The Actuarial Assistant will be responsible for the functions described in one or more of the following areas:

PRICING AND PRODUCT DEVELOPMENT
  • Develops and updates pricing models using MG-ALFA actuarial software
  • Develops and validates pricing assumptions
  • Tests rates for reasonableness
  • Creates reports/analysis for management review
  • Calculates and validates statutory, GAAP and Tax reserves and related items
  • Assists in preparation and analysis of financial statements
  • Understands financial forecast model, and updates model and produces results as needed
  • Runs experience studies, analyzes results, and updates assumptions as needed
VALUATION AND FINANCIAL REPORTING
FINANCIAL MODELING AND ERM
  • Understands all phases of actuarial modeling using MG-ALFA, and can make system modifications as needed
  • Creates and maintains management level reports related to investment and interest crediting management
  • Understands ERM model process and can handle all aspects of running the model
Qualifications

Required Education/Experience
  • Bachelor's degree in Actuarial Science, Computer Science, Mathematics, or related field.
  • Completion of 3 to 4 Society of Actuaries exams
  • Minimum 18 months experience in the actuarial field
  • Good verbal and written communication skills
  • Strong analytical skills
  • Experience with MG-Triton, MG- ALFA or other Actuarial modeling system
  • Ability to:
  • Effectively problem solve
  • Identify improvements and enhance routine functions such as financial reporting
  • Program and test in Access and SQL Server database environments
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