Senior Associate Actuary, Annuity Pricing

  • 33355
  • Life - Actuarial
  • |
  • Connecticut, United States
  • |
  • Feb 20, 2018
Insurance Organization
  • Analyze risk management strategies, such as hedging and reinsurance, and their impact on product risk and profitability.
  • Evaluate potential changes in investment options, risk managed fund strategies, regulatory requirements, and hedging strategies.
  • Support profitability analysis of new annuity products and product changes, such as model development and deep dive of key financial drivers
  • Design and develop model modifications as needed to enable analysis of complex actuarial issues.
  • Evaluate the impact of changes in GAAP and Stat reserving and capital standards on product design and profitability.
  • Develop subject matter expertise in both capital market and actuarial assumptions
  • Assist in the development of stochastic scenarios and evaluate their impact.
  • Proactively identify and drive enhancements to the annuity pricing infrastructure.
  • Review modeling work of other team members and advise on improvements.
  • Collaborate with Corporate team on model governance and other initiatives.
  • Perform pricing analysis using vendor or internally developed software, analyze the results for new/redesigned annuity contract and rider benefits, and provide consultation on actuarial models and risk issues.
  • Determine appropriate assumptions and how to model new product features.
  • Support the modernization of annuity capital allocation, enhancing the reflection of hedge strategies.
  • Update and maintain the logic, functionality, and assumptions of multiple pricing models, reducing model risk through effective communication and organization.
  • Present results of analysis to team members, key business partners, and senior management.
  • Represent Annuity pricing in cross-functional risk management initiatives.
  • Provides direction on complex assignments, projects, and/or initiatives to build and enhance the capability of his/her assigned area(s) of responsibility.
  • Directs and enhances organizational initiatives by positively influencing and supporting change management and/or departmental/enterprise initiatives within assigned area(s) of responsibility.
  • Identifies and directs the implementation of process improvements that significantly improve quality across the team, department and/or business unit for his/her assigned area(s) of responsibility.
  • Maintains knowledge on current and emerging developments/trends for assigned area(s) or responsibility, assess the impact, and collaborates with senior management to incorporate new trends and developments in current and future solutions.
  • Undergraduate Degree or 4+ years of comparable work experience; educational concentration in Applied Science or Mathematics is preferred.
  • ASA designation is required. FSA preferred.
  • 5-7+ years of experience in Actuarial positions that directly aligns with the specific responsibilities of the position. VBA or other programming experience required.
  • A demonstrated track record of consistently meeting and/or exceeding performance expectations.
  • Possesses a bias for action and avoids workplace distractions.
  • Drives performance targets