Actuary – Long Term Care Director focuses on inforce management of our Client’s Long Term Care (LTC) insurance block of business. Also, may involve other health products (e.g. DI, CI, and Supplemental Health). Most noteworthy, our Client, a leading highly rated insurer, is looking for someone who is very self-motivated and collaborative due to the significant amount of interaction with the Sales, Marketing, Corporate Modeling, Valuation, Legal, Claims and Customer Service departments. Finally, innovation as well as a focus on the customer needs are also vital to this role. Salary is $150k + 25% bonus. Apply now for this exceptional leadership opportunity, job 2842. Job requires relocation to Nebraska home office.
Actuary – Long Term Care Director manages activities to ensure the efficient, effective development of adequate product rates for company marketing and service efforts. Furthermore, Director completes various monitoring, reporting, rerating, projection and planning responsibilities.
The Essential Functions
- First of all, plans, staffs, directs and controls department activities. Hence, includes all personnel management functions such as budgeting for and controlling expenses, long and short-range planning, interviewing and selecting applicants, training and development, work direction, appraising performance, administering salaries, transfers and promotions, and ensuring compliance with Corporate Affirmative Action guidelines.
- Furthermore, Identifies and investigates profit and financial problems and opportunities as they relate to assigned product lines of the Companies to contribute to achievement of risk adjusted revenue and product line profitability goals with minimum adverse effect on third parties.
- Also, develops actuarial assumptions while valuing or projecting various product lines. May have an opportunity to assist in designing and developing new products for assigned product line that satisfy marketing objectives and are actuarially sound to support short and long-term profit objectives of the Company.
- Directs monitoring and financial analysis of product line profitability (GAAP, value-added, statutory, etc.) as a result of the implementation of product pricing strategies for assigned product lines.
- Monitors, facilitates and controls corrective actions with respect to experience loss ratios for product lines to contribute to achievement of revenue and product line profitability goals with minimum adverse effect on agents and policyholders
- Provides actuarial support to the product lines and continually assess product line ability as they respond to new challenges brought about by a new pending regulatory environment, including state and federal reform.
- Remains current on new insurance products, procedures and regulatory reforms by actively participating in industry professional groups and various Company and state-sponsored committees.
- Finally, Risk Management. Identifies and assesses risk in actuarial responsibilities. Complies with actuarial standards of practice, precepts and enterprise risk management responsibilities. Supports enterprise wide risk management initiatives.
- Travel (% of the work period): 10-15%.
Experience and Education Requirements
- Fellowship in the Society of Actuaries (FSA), plus a thorough actuarial background.
- Most noteworthy, must have Long Term Care insurance experience.
- Also, 5+ years of pricing experience.
- Ability to incorporate actuarial expertise with the creativity necessary to effectively design and critique new products.
- Knowledge of insurance products, pricing and marketing philosophies and objectives, risk management, and a broad background in the operations of insurance companies.
- Most noteworthy, leadership, communication and human relations skills.
- Creativity, awareness of emerging environmental and industry trends, and strong problem-solving abilities using business-oriented solutions
- Finally, prefer some Disability Income experience.