Actuary, Pricing

The Actuary, Pricing job performs pricing, modeling, analysis, structuring, and other activities related to specific new business development opportunities for one of our Client’s business units. In addition, works with the business development staff to determine customer needs and objectives, understand and analyze client information, and design terms and structures of transactions to meet those needs and objectives. Also, documents risk exposure in potential transactions. Assists marketing associates by building proof-of-concept models for new opportunities or new reinsurance solutions for our Client’s customers. Assists business development associates in the development of new markets, structures, and product lines for to be marketed proactively to our customers.

Pay is based on several factors including local market, a candidate’s skills, and experience commensurate with a role, etc. Colorado residents’ salary range: $125,435 to $191,760 + Annual Bonus. A full range of competitive health and life insurance, retirement and other employee benefits are available. Our Client offers the ability for in-office, hybrid and remote work arrangements. Apply now for this excellent Actuary, Pricing job by clicking on the Apply Now button above! This is Job 2924.

Actuary, Pricing Responsibilities

  • Perform pricing, modeling, analysis, and structuring activities on new or proposed transactions, or amendments to existing transactions, for the business unit in a timely manner consistent with applicable standards.
  • Furthermore, assess and analyze risk exposure in potential transactions and prepare documentation of these risks in detailed pricing analysis reports.
  • Develop and maintain adequate and timely documentation of professional work that complies with relevant ASOPs.
  • Work with the marketing staff to determine client needs and objectives, understand and analyze client information, and design terms and structures of transactions to meet those needs and objectives.
  • In addition, assist business development associates by building proof-of-concept models for new opportunities or new reinsurance solutions for clients.
  • Perform peer review on the work of other actuaries.
  • Also, update documentation of pricing methodology, parameters, and procedures. Recommend, implement, and document enhancements to the pricing process.
  • Set realistic and achievable deadlines for modeling, analysis, and other new business development activities. Complete required tasks accurately within those deadlines. Drive the design of reinsurance transactions and lead discussions on risk issues with internal and external clients. Provide updates on ongoing progress to supervisor and other personnel.
  • In addition, assist risk management personnel with transition of new treaties to in-force monitoring and management.
  • Participate in key unit and ad-hoc department projects as needed.

Actuary, Pricing Education and Experience

Required:

  • Bachelor’s degree in math, finance, statistics, actuarial science, computer science or related field.
  • Furthermore, FSA certification (or equivalent).
  • 7+ years of actuarial experience in life insurance/reinsurance.

Preferred:

  • MAAA/FCIA or other local actuarial organization accreditation.
  • In addition, CFA designation.
  • Advanced quantitative degree or designation.
  • Furthermore, reinsurance industry experience.
  • Merger and acquisition experience.
  • Also, product design / pricing experience OR ALM / risk management experience (requirements vary with job level).
  • Financial reinsurance, asset-intensive, or longevity pricing experience.

Skills and Abilities

Required:

  • Demonstrated knowledge of life insurance, health insurance, longevity, and/or annuity products.
  • Furthermore, ability to take ownership in projects and drive them to completion.
  • Experience with actuarial modeling software.
  • Highly advanced oral and written communication skills, demonstrating the ability to convey business terminology that is meaningful and well received.
  • In addition, highly advanced investigative, analytical, and problem-solving skills.
  • Expert ability to balance detail with departmental goals/objectives.
  • Also, highly advanced ability to manage multiple projects and/or teams simultaneously.
  • Highly advanced ability to liaise with individuals across a wide variety of operational, functional, and technical disciplines.
  • Highly advanced persuasion and negotiation skills when working with internal/external customers.

Preferred:

  • Advanced knowledge of key financial reporting, accounting, and solvency regimes, including (but not limited to): US GAAP (including FAS 97, FAS 91, FAS 133, FAS 157, and SOP 03-1), US Statutory, and US Tax; IFRS; MCEV / EV / EEV; and Solvency II.
  • In addition, advanced ability to model various insurance products and reinsurance structures.
  • Advanced knowledge of life insurance, health insurance, longevity, and/or annuity products.
  • Also, advanced PC and technical skills including (but not limited to): spreadsheets (VBA), database applications (Access, Oracle, SQL or equivalent technology), statistical programs, and one or more computing languages.
  • Expertise in Moody’s AXIS, FIS Prophet or MG-ALFA.
  • Ability to challenge and enhance our Client’s analytical capabilities.
  • Furthermore, understanding of asset modeling and asset-liability management techniques, including derivatives, and capital markets approaches.

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