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AVP, Valuation Actuary
Location: Des Moines, IA
Education Requirements: Bachelor’s Degree or higher required.
Other Requirements: Include:
- Minimum Requirements:
- 7+ years of actuarial valuation or related experience required.
- FSA and MAAA designations required.
- Knowledge of individual life and annuity and/or health products and risks.
- Familiarity with VBA, SAS and/or MG-ALFA software preferred.
- Experience with asset adequacy testing.
- Ideal Candidates Will Possess the Following Skills:
- Ability to be innovative and solve practical problems.
- Demonstrated success working in cross-functional collaborative teams and in working with senior management.
- Results-oriented focus.
- Strong analytical problem solving ability.
- Ability to work independently.
- Desire to deliver a complete work product.
- Strong oral and written communication skills.
- Strong interpersonal and negotiating skills.
- Strong organizational skills with a drive for transparency and efficiency.
- Ability to communicate effectively with regulators and other external parties.
- Aptitude to handle multiple projects simultaneously and successfully.
- Ability to develop and manage effective internal and external relationships.
- Excellent team player.
Salary Range: Negotiable DOE
Description: The Financial Reporting Actuary is a member of the actuarial valuation team. This position is a management position involving the management of a small team of 2+ actuaries with responsibility for the reserving of our Client’s life, annuity, and health products. This position works closely with the Finance department to ensure compliance with regulations and timely completion of month-end reserving by the valuation team. This position directs, executes, and reviews various actuarial tasks related to development of reserves. Oversight of key controls related to MAR/SOX functions is a key aspect of this role. This position is accountable for aggregate reporting of results and trend analytics to give management comfort with the accuracy and adequacy of reserve levels established. The position may be accountable for the appointed actuary function of the company group as well. The position is for ensuring reserves are in compliance with minimum standards, laws, regulations, ASOPs, and any other requirements of regulatory bodies governing our Client’s business. Key accountabilities include:
- Management of actuarial valuation team with oversight responsibility for the company actuarial reserving practices and development of reserves.
- Lead the development of actuarial analyses related to loss ratios and reserves. Balance roll forwards for statutory earnings, including reconciliation of results across reporting bases. Develop new trend analytics as necessary related to all reserves (statutory and tax), potentially GAAP. Work with Finance to develop management and board level reporting.
- Collaborate with Internal Audit to ensure internal controls are working as intended. Ensure valuation staff complies with MAR/SOX controls.
- Comply with all ASOPs state and federal regulatory requirements associated with our Client’s reserving. Remain current regarding actuarial and insurance industry practices related to our Client’s products.
- Participate in special projects, including simplification and efficiency initiatives, reporting and big data projects.
- Work with external auditors to make sure the valuation actuaries understand their requests and deliverables are provided within required timelines.
- Consolidate and review the quarterly and annual statutory statement actuarial exhibits and track down answers to questions and cross-check errors.
- Consolidate and review Tax reserve submissions. Perform trending analysis on stat tax difference. Give guidance to line of business on IRS rules on tax reserves. Support annual tax return filing and IRS audits.
- Help ensure compliance with our Client’s policies, Statutory and Federal Reserve reporting requirements.
- Develop and manage effective internal and external relationships.
- Identifying opportunities to improve resource allocations and collaborate with other work groups across our Client.
- Stay informed of trends in the financial actuarial marketplace.