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VP - Corporate Actuary
Location: Des Moines, IA
Education Requirements: Bachelor’s degree in Actuarial Science, Math, Statistics or other related area.
Other Requirements: Include:
- FSA and MAAA.
- 10+ years of relevant experience required.
- Supervisory experience.
- Experience working with outside stakeholders (i.e. Board members, Regulators, Rating Agencies, Investors, and Auditors) preferred.
- Prior use of MoSes, GGY-Axis and/or other actuarial reporting systems.
- Significant asset modeling and investment stakeholder management experience is a strong plus.
- Skills and Abilities:
- Highly motivated, self-starter and team player with a high energy level and willingness to aggressively take on responsibility.
- Strong computer knowledge including working knowledge of actuarial systems (MoSes and/or GGY-Axis), Excel and Access.
- Able to work and effectively communicate with all levels of management, including Chief Financial Officer, Chief Actuary, CEO, CRO and all senior management.
- Ability to make presentations to senior leaders, boards of directors and other audiences.
- Sound technical experience in reserve analysis as well as with analyzing and documenting company performance and comparisons against plan.
- Strong verbal and writing skills.
- Open and direct communicator who provides clear direction with results-oriented style.
- Unconditional integrity and commitment to delivering accurate information on schedule with committed dates of delivery.
- Prior experience with rating agencies and subsidiary-parent company relationships.
- Able to fully assess deliverable requirements against allocated resources setting priorities and calling on additional resources as required.
- Excellent team-building skills, with the ability to recruit, retain, coach, delegate and mentor top-quality staff.
- Ability to participate in establishing goals, structures, and processes necessary to implement a mission and strategic vision.
- Support effective partnerships with key groups and individuals while possessing superior consultation and change management skills.
Salary Range: $220k to $230k + 30% bonus and 30% LTI
Description: This is one of the many actuary jobs Mid America Search has available. This is an advanced level job responsible for corporate actuarial duties within the Actuarial Department. This job includes the modeling in support of the Actuarial Opinion, RBC determination, ORSA reporting and associated stress testing, ALM activities and ensuring model support for financial planning, valuation approaches, and capital management among other uses. It also includes leading the production of our Client’s experience studies and assumption setting process. The role would also work closely with the investment team and risk management on asset modeling and strategies to optimize assets for both economic as well as regulatory purposes. Further, it will provide support as appropriate for Strategic and Business Development initiatives. This role provides tools for and critical insight into a variety of high-level business decisions. This job reports directly to the Chief Actuary and will interact with all levels of senior management, including significant ongoing exposure to the CFO, CIO, CRO and CEO as well as SVP of FP&A, as well as, interaction with many other company officers. This job will manage a team of individuals and will be responsible for their selection – as needed, training and development in conjunction with the Actuarial Department management, human resources and the Chief Actuary’s overall training and staff development plan for all actuaries. Duties and responsibilities include:
- Will have primary responsibility for developing modeling and related analysis including:
- RBC C-3 phase 1.
- ORSA Stress Testing.
- Economic Capital.
- ALM analysis.
- Additionally, other activities will include:
- Experience studies.
- Development of assumptions and assumption governance.
- Model governance and change management.
- Management reporting on key indicators related to inforce block experience and ALM.
- Collaboration with others on:
- Model platform conversion.
- Model based valuation needs.
- Collaboration with Valuation Actuary, Planning Actuary, FP&A and Controller on:
- Capital Management.
- Annual planning.
- Ad hoc activities, such as due-diligence, as requested by executive management.
- Accurate and timely preparation of all work is a high priority for this job as key management decisions are made based on the work performed under the auspices of this job.
- Coordination with Investment Management and Investment Risk professionals to enhance asset modeling capabilities and provide analysis of alternative investment choices and model approaches.
- Review of operational procedures and identification of areas of improvement and efficiencies.
- Ensure all externally originated data, processes, interfaces, etc. are effectively coordinated, controlled, balanced and reconciled.
- Support other financial and actuarial resource needs of our Client, assessing priorities and drawing upon resources to meet deadlines with accurate analysis and conclusions.
- Provide any modeling support needed for RBC, other capital calculations, ALM/CFT what-if evaluation and other projection-based analysis that relies on the corporate model as a base.
- Actively seek methods for continuous improvement with actuarial, accounting and recordkeeping functions through process or systems initiatives.