Actuary, Annuity Valuation

  • 36588
  • Life - Actuarial
  • |
  • Connecticut, United States
  • |
  • Dec 17, 2019
  • Maintain close familiarity and knowledge of the following in the context of valuation requirements:new products and riders, equity indices, variable fund strategies and hedging strategies, in-force liability and asset portfolio results as they emerge based on experience, existing and new reinsurance agreements
  • Determine statutory, tax and GAAP valuation frameworks that meet regulatory and GAAP requirements and optimize approaches for the Company at a micro and holistic level, working with stakeholders as needed
  • Build prototype models to test valuation framework approaches under several capital market and actuarial assumption scenarios
  • Document and communicate valuation frameworks and model office testing to stakeholders
  • Review and test the implementation of the valuation frameworks by the Corporate Valuation and Modeling teams to ensure compliance with frameworks and that actual results emerge as intended
  • Provide actuarial support for state filing or compliance requests as needed
  • Support Pricing and Product Development to ensure that their modeling of reserves and GAAP items aligns with the valuation frameworks and actual reporting
  • Support Annual Statement filings as needed
  • Support the Annuity Qualified Actuary to maintain detailed knowledge of existing and developing valuation statutory and tax regulations and GAAP accounting guidance in the industry
  • Proactively participate in key NAIC, ACLI and AAA committees and working groups, as coordinated by the Corporate Appointed Actuary
  • Evaluate and respond to potential/proposed changes in requirements
  • Proactively identify and drive enhancements to the regulation and GAAP guidance discussions where possible
  • Provide updates/dashboards to key Company stakeholders on emerging developments
  • Design and develop model modifications as needed to enable analysis of complex actuarial issues
  • Review modeling work of other teams and advise on improvements as needed
  • Undergraduate degree; educational concentration in Actuarial Science, Mathematics, Economics, or Applied Science is preferred.
  • FSA designation is preferred
  • 5-7+ years of experience in Actuarial positions that directly aligns with the specific responsibilities of the position.
  • Modeling experience is required (e.g., valuation or projection modeling systems, Excel, VBA, database or other programming skills).
  • A demonstrated track record of consistently meeting and/or exceeding performance expectations.
  • Possesses a bias for action and avoids workplace distractions.
  • Drives performance targets to completion
  • Strong communication and problem solving skills
  • Ability to quickly learn and apply new skills and information
  • Strong curiosity and the ability to generate new ideas