Actuary

  • 36228
  • Life - Actuarial
  • |
  • California, United States
  • |
  • Nov 12, 2019
Insurance
RESPONSIBILITIES
  • Work with the eam to evolve the product in ways that enhances the customer experience and maximizes lifetime customer value.
  • Perform product R&D and feasibility analysis maximizing likelihood of product acceptance. This includes competitive analysis, consumer research and validation.
  • Own and evolve the pricing strategy balancing sales and profitability.
  • Stay current with all regulatory changes and other new pricing or risk management developments that could impact our product lines.
  • Ensure product development follows product pricing guidelines, meets all regulatory requirements, and meets all internal profit/risk governance standards.
  • Secure all required product approvals.
  • Partner with our underwriting innovation team to continue improving the customer experience, balancing product pricing and risk mitigation.
  • Engage with key stakeholders such as underwriting, finance, marketing, reinsurance, operation and IT amongst others.
  • Evolve department’s analytics capabilities ensuring we capture all the data needed to optimize customer experience and manage risk which includes monitoring sales mix, customer behavior and KPIs and recommending product changes and enhancements when appropriate.
  • Manage vendors and contractors supporting the product design and analytics functions.
  • Build two-way communication and sharing of best practices and innovations with product, underwriting and analytics departments within the company.
QUALIFICATIONS
  • Bachelor’s degree in Mathematics, Statistics, Economics, Actuarial Services, or related field.
  • FSA designation in the Society of Actuaries .
  • 8 years actuarial experience; 3+ years of actuarial experience post FSA designation, 3+ years of life insurance product development working experience.
  • Good understanding of the regulations and actuarial guidelines applicable to life insurance products.
  • Strong research/analytic capability and innovative thinking.
  • Strong knowledge in tax, PBR, GAAP, VNB a plus.
  • Able to research and generate creative solutions on various product related issues.
  • Strong communication skills to present business solutions in a clear and concise manner and to collaborate effectively with actuarial and non-actuarial partners.
  • Ability to lead multiple projects and meet tight deadlines with thoughtful planning and effective execution.
  • Experience of managing major life insurance product design and implementation a plus.
  • Experience using actuarial software and analytics packages a plus.