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Associate Actuary Valuation
Education Requirements: Bachelor’s degree in Math, Finance, Actuarial Sciences, Statistics or related field.
Other Requirements: Include:
- FSA required.
- 6+ years of actuarial experience in life insurance/reinsurance required.
- Experience in Traditional Life valuation or pricing preferred.
- 3+ years actuarial experience in reinsurance valuation and/or financial reporting (GAAP, Statutory, and Tax) preferred..
- Experience in Prophet and/or AXIS preferred.
- Skills and abilities:
- Advanced PC and technical skills, including database applications (Access, Oracle, SQL or equivalent technology), spreadsheets, statistical programs and actuarial software (MoSes, TAS, AXIS, or equivalent).
- Highly advanced project management skills. Demonstrates an ability to evaluate project objectives and scope for feasibility and understanding.
- Highly advanced ability to model various insurance products and reinsurance structures.
- Expert knowledge of life, health, and/or annuity insurance products.
- Highly advanced knowledge of GAAP, Statutory, and Tax valuation and financial reporting.
- Ability to work independently and to work well within a team environment and participate in department projects.
- Highly advanced people management skills, demonstrating the ability to lead, mentor, and develop associates; including the ability to delegate key areas of responsibility.
- Ability to quickly adapt to new methods, work under tight deadlines and stressful conditions.
- Advanced oral and written communication skills, demonstrating the ability to convey business terminology that is meaningful and well received.
- Advanced investigative, analytical and problem solving skills.
- Advanced ability to manage multiple projects and/or teams simultaneously.
- Advanced ability to liaise with individuals across a wide variety of operational, functional and technical disciplines.
- Advanced ability to translate business needs and problems into viable/accepted solutions.
- Ability to resolve conflict and foster teamwork.
- Broad business knowledge.
- Advanced persuasion and negotiating skills when working with internal/external customers.
- Expert in Prophet, MoSes, TAS, and/or AXIS (or equivalent actuarial software).
- Expert knowledge of US GAAP SFAS 60.
- Expert knowledge of US Statutory reserving requirements.
- Reinsurance industry and product knowledge.
Salary Range: Negotiable
Description: The Associate Actuary Valuation performs valuation/financial reporting and analysis for the US Mortality Market Individual Life Insurance Division of our Client. Contributes to the maintenance and enhancement of the financial forecasting infrastructure and analytic foundation by developing/maintaining actuarial data, assumptions, models and processes used not only for valuation, but also to support unbiased planning, reporting, economic capital refinement, embedded value calculation, capital planning, cash flow testing, and other such uses. Provides general valuation, financial analysis, and project assistance. Job duties and responsibilities include:
- Researches, develops, maintains, and/or reviews actuarial assumptions, methods and models. Provides internal guidance and documentation.
- Performs detailed Statutory, Tax, and GAAP valuation work for assigned business, ensures these items are appropriately documented and posted, and assists with identifying changing requirements and adapting to maintain compliance.
- Develops unbiased projections for financial planning and analysis and assists with communication of financial analytics and results in terms of major drivers of variance.
- Serves as a liaison with other valuation, pricing, administration, systems, accounting, audit, and finance associates.
- Provides oversight and direction to junior actuarial/financial associates in the department. If assigned 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.
- Performs valuation work and ad-hoc department projects as needed and called upon.