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Executive Director & Actuary, Valuation Job

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Executive Director & Actuary, Valuation
Job# 2733
Location:  MO
Education Requirements:  Bachelor’s degree in Math, Finance, Actuarial Sciences, Statistics or related field.
Other Requirements:  Include:

  • Credentials and Experience:
    • Required:
      • FSA or equivalent.
      • 10+ years of actuarial experience in life insurance/reinsurance.
      • Prior management experience.
    • Preferred:
      • MAAA.
      • CFA, PRMIA PRM, GARP FRM, or other such financial risk management designation.
      • Stochastic modeling and/or asset liability management experience.
      • Familiarity with deferred and immediate annuities, including equity-indexed and/or variable annuities.
      • Familiarity with fixed income investments, understanding of asset modeling techniques and capital markets.
      • Understanding of pension and other longevity products.
      • Expert knowledge of local regulatory environments.
      • Reinsurance industry and/or merger and acquisition experience.
  • Skills and Abilities:
    • Required:
      • Advanced PC and technical skills, including database applications (Access, Oracle, SQL or equivalent technology), spreadsheets, statistical programs and actuarial software (TAS, AXIS, Prophet, or equivalent).
      • Highly advanced ability to model various products and reinsurance structures.
      • Demonstrated knowledge of life, longevity, institutional and/or annuity products.
      • Expert knowledge of GAAP, Statutory, and Tax valuation and financial reporting.
      • Highly advanced people management skills, demonstrating the ability to lead, mentor, and develop associates; including the ability to delegate key areas of responsibility.
      • Highly advanced oral and written communication skills, demonstrating the ability to convey business terminology that is meaningful and well received by all stakeholders, including customers and associates.
      • Highly advanced interpersonal skills, demonstrating the ability to work effectively with different disciplines, including pricing, investments, accounting, systems, and administration.
      • Highly advanced project management skills.  Demonstrates an ability to evaluate project objectives and scope for feasibility and understanding.
      • Highly advanced ability to translate business needs and problems into viable/accepted solutions.
      • 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.
      • Highly advanced analytical and problem-solving skills.
      • Ability to balance detail with departmental goals/objectives.
      • Ability to work independently and to work well within a team environment and participate in department projects.
    • Preferred:
      • Prophet expertise in ALS and at least 1 Liability library with preferred expertise in at least one of the summary or GAAP cohort libraries.

Salary Range:  $155k to $160k + 15% target bonus
Description:  The Executive Director & Actuary is a leader within a high performing group that performs financial reporting and analysis for a wide range of US and International products underlying our Client’s Non-Traditional reinsurance treaties.  Products include Variable and Fixed annuities, Fixed Index Annuities, SPIAs, and Longevity Swaps.  While the focus is on US GAAP reporting and planning, the role also includes production and analysis of other important metrics, including US Statutory reserves, Tax, Solvency II, ORSA, Cash Flow Testing, Economic Capital, and Embedded Value.  Communication with key executives along with maintaining excellent relationships with the Finance and Risk Management teams are components of the role.  Duties and responsibilities include:

  • Contributes to the ongoing enhancement of the reporting process by developing and updating actuarial assumptions and models.
  • Maintains, documents, and supports results, approaches, and controls used to produce and monitor results.
  • Performs US GAAP, Statutory and Tax valuation for assigned business.  Ensures these items are appropriately documented and posted.
  • Develops projections for financial planning and analysis and communicates the appropriate financial analytics, including a discussion of major drivers of variance.
  • Provides oversight and direction to junior actuarial/financial associates in the department.  Performs supervisory duties including, but not limited to, hiring, training, evaluating, coaching, and disciplining direct reports.  Fosters a positive and engaged work environment.  Mentors associates and gives guidance on associate development.
  • Serves as a liaison with other lines of insurance business and company functions/departments to promote improvement in valuation and financial analysis for assigned business.
  • Performs valuation work and ad-hoc department projects as needed and called upon.
  • Performs other duties as required.

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