Sr. Actuarial Assistant

  • 34913
  • Life - Actuarial
  • |
  • Maryland, United States
  • |
  • Mar 19, 2019
Insurance
RESPONSIBILITIES
  • Develops and maintains the Corporate Planning and Forecasting model for one of the company’s business units, building off the Corporate Model maintained by the Model Development team.
  • Generates CPF Model input files and processing of CPF Model results per plan and forecast timelines.
  • Conducts sensitivity analyses to generate insight into the impact of assumptions on the company’s projected financial results and capital position.
  • Provides thought leadership on the financial and capital impact of business decisions and assumptions in order to help senior management optimize the company’s financial performance and capital position.
  • Identifies and implements changes to the CPF Model, including: the incorporation of models to better reflect the economics of the company’s business and/or reflect future changes to the business, the correction of errors, and the streamlining of processes.
  • Conducts the quarterly plan-to-actual analysis, insuring all variances are explained and corrected in subsequent runs of the CPF Model.
  • Conducts ad-hoc analyses of CPF Model results as needed to explain drivers of profitability, capital position, and unanticipated outcomes, evaluate the impact of potential business decisions, and identify model errors.
  • Coordinates with the Model Development team to ensure the CPF Model is accurately reflected within the Corporate Model in order to support the production process and the generation of a variety of calculations, including reserves, VIF, EC/SII balance sheet, Cash Flow Testing, and others as needed.
  • Collaborates with other departments to provide modeling support and expertise as needed.
  • Supports the transition of the CPF Model from ALFA to AXIS as the company migrates its actuarial system.
  • Ensures all model development activities comply with all model governance and documentation requirements defined by the company’s model governance policies, including the maintenance of detailed documentation of all changes made to models, including impacts under key reporting bases, and evidence of management approval where needed.
  • Works with manager to ensure all modeling work is peer-reviewed to ensure they are appropriately built to reflect the economics and risk of the company’s business.
  • Ensures all modeling work can support multiple accounting bases, including US GAAP, IFRS 4, US Statutory, VM-20, US Tax, and Solvency SII. Responsible for ensuring models are positioned to support Principles-Based Reserving and IFRS 17 when those reserving / accounting bases become employed by the company.
  • Identifies and implements process improvements, including automation of manual tasks where possible, to increase efficiency and transparency while minimizing the risk of errors.
  • Other duties as required.
QUALIFICATIONS
  • BS/BA in a quantitative discipline, e.g., Math, Statistics, Physics, Engineering; advanced degree a plus.
  • 4 years of life insurance/actuarial experience.
  • 4 SOA exam credits.
  • Knowledge of US GAAP and US Statutory accounting bases; knowledge of IFRS, VM-20, and Principles-Based Reserving a plus.
  • Actuarial software skills: experience with MG-ALFA and GGY AXIS is desirable.
  • Spreadsheet/database capabilities, e.g., Excel, MS Access, VBA.
  • Strong analytical and problem solving skills, including the ability to bring innovative approaches.
  • Resourceful; takes initiative to solve problems.
  • Collaborative, team-first mindset.
  • Strong desire to learn.
  • Strong verbal and written communication skills, including the ability to interact constructively with senior managers.
  • Flexibility when working with changing deliverables.
  • Well organized and detail-oriented; able to manage several tasks with high level of accuracy.
  • Ability to quickly identify trends in large volumes of data.