NEW AVP, Life & Annuity Pricing Actuary job! Above all, our Client is a leading Life Insurance Company in the Mid-Atlantic area. Most noteworthy, our Client serves the mutual interests of their policyholders, agents, employees, and communities. Furthermore, their commitment to: Openness and honesty; Integrity and respect; Making a positive difference; and Financial discipline set them apart. Hence, our Client is a truly exceptional company. So, do you have demonstrated experience with actuarial/product development with an emphasis on universal life, traditional life and annuity product pricing? Then, apply now for this exciting AVP, Life & Annuity Pricing Actuary job by clicking on the Apply Now button above! This is Job 2874.
- First of all, execute the Company’s actuarial strategy for development of new products. Oversee delivery of all actuarial activities associated with the pricing and implementation of new products and enhancements
- Second, AVP & Pricing Actuary will analyze and approve pricing results given appropriate assumptions, profit/sensitivity tests, and targeted corporate profit targets / guidelines
- Above all, develop actuary pricing assumptions.
- Furthermore, impact actuary pricing priorities by providing timely and informative inforce profitability analysis and trending
- Also, provide admin systems, illustrations, and sales materials support for all new product/enhancements
- Most noteworthy, oversee and improve a basic governance structure related to the pricing function
- Also, provide actuarial expertise for development of applications, contract forms, actuarial memos, state responses for new product submissions and completion of other regulatory requirements, as needed.
- Most noteworthy, develop trusted working relationships with internal stakeholders throughout the enterprise through active participation in leadership committees and through financially driven interactions.
- Oversight of reinsurance, including administration and financial analysis.
- Maintain network of pricing actuaries, consulting actuaries, reinsurers, personnel in benchmark companies (corporate, product line), and prior business contacts.
- Most noteworthy, serve as the Company’s Illustration Actuary.
- Hence, execute the annual Illustration Actuary Opinion
- Furthermore, oversee testing of products for compliance with state illustration regulations.
- Also, provide Illustration Actuary analysis to internal stakeholders.
- Finally, assist with post-launch program monitoring, as well as analyze and participate in vetting of success criteria quarterly process.
Education and Experience
- First of all, Bachelor’s degree in Mathematics, Actuarial Science or related quantitative subject.
- Most noteworthy, Fellow of the Society of Actuaries (FSA) and Member of the American Academy of Actuaries (MAAA) required. Will consider candidate who is actively pursuing FSA or candidate with equivalent designations.
- Above all, demonstrated experience with actuarial/product development with emphasis on universal life, traditional life and annuity product pricing.
- Strong understanding of the life insurance industry, including insurance accounting.
- Most noteworthy, management experience with emphasis on building teams, mentoring actuarial students
- Also, valuation experience a plus
- Finally, experience with ALFA software strongly preferred.
Skills and Knowledge
- Above all, critical thinker with the ability to use technically oriented platforms, such as actuarial modeling products, database, spreadsheet, and predictive analytic software to analyze, manipulate and interpret technical data and communicate results to stakeholders throughout the enterprise.
- Furthermore, demonstrated knowledge of the various processes and systems used in the design, pricing, implementation and distribution of life insurance and annuities is required.
- Finally, excellent project management skills.
Drive – AVP, Pricing Actuary displays motivation, is proactive and resourceful in daily work. Persists to complete responsibilities, even in the face of difficulties, is optimistic and tenacious throughout.
Collaboration – AVP, Pricing Actuary delegates with appropriate controls; subordinates know expectations and receive regular feedback. Anticipates and takes steps to prevent counter-productive confrontations. Manages and resolves conflicts and disagreements in a constructive manner.
Adaptable – Builds commitment by using different influencing strategies based on individual’s motivation and recognizes employees who support team objectives.
Responsible – Develops the ability of others to perform and contribute to the organization by providing ongoing feedback and by providing opportunities to learn through formal and informal methods.
Execution – AVP, Pricing Actuary encourages motivating, positive, and professional behavior through own actions. Understands and provides support and resources to help team members resolve problems and conflict in a positive and constructive manner. Performs the annual review process and manages performance issues in a timely and effective manner. Builds, communicates and monitors team’s development plans effectively.