VP & Appointed Actuary

  • 35031
  • Life - Actuarial
  • |
  • Connecticut, United States
  • |
  • Apr 7, 2019
Insurance
RESPONSIBILITIES
  • Supervises and reviews quarterly valuation of reserve and dividend liabilities. Ensures timely financial reporting of actuarial results supporting our quarterly statements and other regulatory requirements. Produces and signs the Actuarial Opinion and Memorandum, Appointed Actuary Report, Dynamic Capital Adequacy Testing Report and associated reports.
  • Establishes, supervises, and reviews projects related to asset liability management, including cash flow testing and duration matching of assets and liabilities. Also closely involved in other risk analysis and evaluation for how risks can be mitigated.
  • Works closely with U.S. and Canadian auditors and regulators to ensure adequate and appropriate reserves are established and that procedures are followed. This includes providing the Actuarial Opinion on LIMAT ratio calculations, special calculations for Risk Based Capital evaluation, and accountability under the Model Audit Rule process with Internal Audit.
  • Ensures appropriate valuation procedures are established, followed on a routine basis, and are well-documented. This includes recommending and finalizing experience assumptions used in U.S. cash flow testing, Canadian CALM reserving and DCAT, etc. Solicits peer review from other senior actuaries within the Company when recommending assumptions and methodology. Sets margins for best estimate assumptions under the new principle based reserve regime.
  • Maintains expertise in U.S. and Canadian valuation topics including keeping abreast of regulatory changes that could affect the Company currently or in the future.
  • Consults on the development of Life, Annuities, Long-Term Care, and Disability Income Insurance products and analyzes their effect on reserve levels.
QUALIFICATIONS
  • Bachelor’s degree in Mathematics, Statistics, Economics, or Actuarial Science.
  • Minimum of 10-15 years of related industry experience or equivalent combination or training and Experience.
  • Attainment of Fellow of the Society of Actuaries, Fellow, Canadian Institute of Actuaries and Member of the American Academy of Actuaries.
  • Experience in individual life insurance and annuities with expertise in valuation, product development, dividend scale management, and asset liability management. Experience with long-term care and disability income insurance a plus.
  • Broad knowledge of valuation topics, financial reporting concepts and requirements, product development, insurance, and investments in both the U.S. and Canada.
  • Ability to manage a staff and to work closely with business partners both within the Department and with other areas in the Company.
  • Excellent written and verbal skills: ability to express technical issues in a clear manner, understandable to non-actuarial business partners.
  • Value, promote and act with integrity.
  • Microsoft Office products; GGY AXIS knowledge a plus.
  • Accurate and timely production of valuation deliverables.
  • Successful review and audit of work by outside parties.
  • Expertise on valuation topics.
  • Successful management of multiple projects.
  • Organizational skills.
  • Customer satisfaction.
  • Communication skills.
  • People management.