Sr. Actuary

  • 37874
  • Life - Actuarial
  • |
  • Florida, United States
  • |
  • Aug 4, 2020
Reinsurance
RESPONSIBILITIES
  • Develop new or enhance existing valuation actuarial models using RAFM actuarial software that meet validation criteria and satisfy control and governance procedures.
  • Models relate primarily to coinsurance of level term business and Yearly Renewal Term of both term and permanent business.
  • Ensures effective handoff of completed models to valuation teams.
  • Research and document treaty specifications, as well as work collaboratively with various departments to align this information with self-administered cedent data, so as to correctly create standardized RAFM input of inforce exposure and model assumptions.
  • Support and enhance company’s model governance process by creating documentation supporting each model built.
  • Provide management explanations as to how model results are consistent with expectations.
  • Perform required supporting analysis including reconciliation of the enhanced model with the previous version and to realized financials.
  • The model development responsibilities serve to ensure that the company maintains a high quality and robust valuation framework that supports the accurate projection of insurance liabilities and earnings across a variety of financial reporting frameworks and meets rigorous audit and governance standards.
  • Support continuous improvement of the modelling processes in terms of effectiveness and efficiency by developing and implementing tools and processes.
  • Support the modelling needs from other business units that rely on the services of the Corporate Actuarial function. Examples include converting pricing models to valuation models, implementing new reinsurance treaty amendments, enhancing the asset model used for PBR and AG 48, and supporting the Inforce Management unit in their analyses.
QUALIFICATIONS
  • Bachelor’s degree from an accredited college or university in Actuarial Science, Mathematics, or related field.
  • Minimum of 5 years’ actuarial experience in life insurance or reinsurance.
  • Functional actuarial experience within a life insurance organization, such as in Valuation, Pricing, Modelling, etc.
  • FSA credential from the Society of Actuaries.
  • Excellent verbal, written and interpersonal communication skills, including the ability to present complex initiatives to all stakeholders.
  • Strong organizational skills, and ability to manage competing priorities and deadlines.
  • Ability and willingness to learn and master new technical tools and processes quickly.
  • Intermediate MS Office: Excel, Word, Outlook, and PowerPoint.
  • Life actuarial modelling experience, such as within MoSes, Risk Agility, MG-ALFA, GGY-AXIS, Prophet.
  • Life insurance product knowledge, such as Term, WL, UL, ULSG, etc.
  • Exposure to regulatory frameworks, such as Solvency II, IFRS17, US Statutory, US GAAP, AG48, etc.
  • Desired:
  • Experience with reinsurance, including knowledge and/or analysis of reinsurance structures, client data, etc.
  • Expertise in critically assessing projections of life insurance cash flows and reserves for reasonableness.
  • Experience programming in a structured computer programming language, such as C++, R, SQL, VBA, etc.