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Actuarial Director, Workplace & Special Risk Valuation Job

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Actuarial Director, Workplace & Special Risk Valuation
Job# 2765
Location:  NE
Education Requirements:  Degree preferred.
Other Requirements:  Include:

  • Recent FSA with relevant experience.
  • Experience managing a small team.
  • Experience- Life, LTD, dental.
  • Ability to incorporate actuarial expertise with the creativity necessary to identify opportunities to either lower risk (with no loss of return) or increase return (with no increase in risk).
  • Knowledge of insurance products and investments, banking products and asset characteristics, and stochastic modeling techniques.
  • Knowledge of applicable valuation techniques and requirements.
  • Good business judgment to identify experience trends and issues requiring modification in standard approaches or need to elevate risk concerns.
  • Leadership, communication and human relations skills.
  • Creativity, awareness of emerging environmental and industry trends, and strong problem-solving abilities using business oriented solutions.

Salary Range:  $145k to $155k DOE + 25% incentive bonus
Description:  Lead a small team of actuaries for a leading insurance group to perform SAP, GAAP, and Tax valuation for our Client’s Workplace & Special Risk products.  This person will also be responsible for reserve and asset adequacy analysis, valuation model ownership, best estimate and valuation assumption setting, and rating agency support.  They will partner with Business areas and Financial Planning and Analysis in variance analysis, planning and forecasting for their respective line of business.  They will also participate with Business areas in SOA/AAA studies and trade association (ACLI/AHIP) initiatives.  Job duties and responsibilities include:

  • Plans, staffs, directs and controls department activities, including all personnel management functions for assigned staff.
  • Develops modeling, valuations or risk assessment strategies and initiatives including:
    • Develops or oversees development of models for assigned products and purposes (valuation, business planning, or risk analysis).
    • Assesses experience and recommends assumptions used in models, reserve calculations and other analysis.
    • For stochastic projections, develops asset-related, economic and policyholder behavior assumptions.
    • Develops and utilizes models and other mathematical approaches for valuation purposes (principles based reserves, IFRS, traditional policy reserve development, claim reserve development, UDAC amortization, etc.).  Apply business judgment, where appropriate, in recommending final reserve assumption, techniques and levels.
    • Stays informed on relevant modeling, valuation and risk assessment practices.
    • Develops processes to routinely report results.  Communicates results and trends effectively with technical and non-technical audiences.
    • Peer review actuarial work of others as needed.
  • Assists in the formation of enterprise-wide initiatives to optimize our Client’s risk/return position reflecting changes in economic conditions.
  • Provides risk monitoring of Company risk tolerances and checkpoints.  Provide risk analysis for various Risk Committees as warranted.  Develop recommendations for changes as necessary.
  • Supports other enterprise risk initiatives including:
    • Provides annual enterprise risk assessments for product lines.
    • Conducts new product risk reviews and embed risk assessment expectations in insurance business units.
    • Develops recommendations to align risk management processes with principles, policies, standards and tolerances.  Obtains senior management approval of recommendations.
    • Coordinates the development of the risk management strategy, principles, policies, standards and tolerances for approval by senior management and the Board of Directors.
    • Monitors risk management developments and best practices within both the at-large business community and the financial services industry.  Provides education and information to management and associates regarding risk management principles, policies, standards, processes, etc.

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