Director & Actuary

  • 36548
  • Life - Actuarial
  • |
  • New Jersey, United States
  • |
  • Jan 9, 2020
Insurance
RESPONSIBILITIES
  • Annuity product pricing:
  • Recommend the appropriate product margins reflecting product-specific risk characteristics
  • Recommend rates for annuity new business and in-force blocks on an ongoing basis to achieve profitability targets
  • Maintain appropriate documentation of results, methodology, and assumptions for rate setting
  • Implement and review updates to pricing models in a well-governed manner, consistent with Model Risk Management guidance
  • Ensure pricing reflects best available assumptions and information. Regularly review experience studies and capital markets inputs; ensure assumptions are well documented and appropriately consistent across annuity products
  • Calculate the Value of New Business for the product on a quarterly basis, reconciling changes from prior quarters. Effectively communicate results to management and recommend changes to product pricing as trends emerge
  • Annuity product development:
  • Provide actuarial expertise for product development
  • Create actuarial filing materials to support product filings based on a thorough review of relevant actuarial guidance and regulation
  • Develop processes, reports and controls around the management of new annuity products
  • Collaborate with partners in other business areas including Valuation, Accounting, Filing, Risk, ALM, and Actuarial Modeling, during product development and implementation
  • Effectively lead a team of actuarial students with an inclusive and collaborative culture. Support students in their actuarial exam progress.
QUALIFICATIONS
  • Bachelor’s degree in mathematics or statistics
  • Attained the FSA designation, and has 7-10 years of experience in an actuarial field
  • Experience with group annuities a plus
  • Ability to communicate complex technical concepts to both technical and non-technical audiences both verbally and through written documents
  • Ability to develop and implement financial and actuarial pricing models
  • Strong project management skills a plus
  • Proficient with Excel, VBA and actuarial modeling systems (stochastic modeling experience preferred)
  • Capable of effectively handling multiple long-term projects and short-term ad hoc tasks at the same time
  • Can adjust work resources and deadlines in response to changing business priorities