Current Job Openings
POSITION TITLE: ACTUARIAL ASSOCIATE
REPORTS TO: CHIEF ACTUARY
Responsible for overall maintenance and responsibility for assigned valuation system (currently Triton) modules including running, coding and updating the modules. Responsible for production of reserves and other actuarial items, accuracy, analysis and explanation of results to Chief Actuary. Ensures conformance with Statutory, Tax and GAAP accounting. Ensures reserve is appropriate for the risk. Creates, codes, tests and produces product pricing, cashflow testing, ALM analyses, financial modeling as necessary, under direction of Chief Actuary. Tests various financial, administrative, illustration and reserving systems. Assists in product development, financial reporting and analysis.
Essential Duties and Responsibilities:
1. Have responsibility for assigned valuation system modules.
- Code and test new products.
- Run reserves, ensure accuracy, analyze results and provide explanations.
- Maintain valuation system modules, e.g. update valuation interest rates each year, DAC assumptions, update and test versions of valuation system. Ensure appropriateness of all statutory, tax and GAAP coding, switches, assumptions, etc.
- Ensure data integrity.
- Document system updates, new product coding and testing.
- Responsible for reporting process – streamline, improve and augment process as necessary.
- Maintain appropriate controls on the reporting process to ensure accuracy of reserves.
2. Responsible for reinsurance administrative system
- Produce billings, check results for accuracy.
- Maintain system including any version updates, test and document results.
3. Participates in testing of various financial, administrative, illustration, and reserving systems.
- Develops model for testing reserves, cash values, and dividends from various systems.
- Assists in development of design specifications for various systems.
- Provides projections from MG-ALFA for forecasts and other modeling projects. Includes analysis and explanation of results, e.g., actual vs. plan or forecast, plan vs. forecast, prior forecast vs. current forecast, etc.
4. Ensure appropriateness of reserves in relation to the risk.
5. Ensure that reserves and other actuarial calculations conform to Statutory, Tax and GAAP accounting regulations, statutes and relevant pronouncements.
6. Performs ALM, cashflow testing, X-factor reporting, financial projections, pricing, RBC/capital analysis and rating agency presentation functions, as needed.
7. Assumes additional duties as requested.
Bachelors or Masters Degree.
7+ years of experience in the actuarial field in life insurance and/or annuities, especially valuation. Pricing experience is a plus.
Skills, Knowledge & Abilities:
Associate in the Society of Actuaries (ASA). Conducts analysis, pricing and risk assessment to estimate financial outcomes. Applies knowledge of mathematics, probability, statistics, principles of finance and business to calculations in life insurance and annuities. Deep understanding of statutory, tax and GAAP accounting related to actuarial valuation, cash flow testing and X-factor reporting. Strong familiarity with Excel, Access, Word. Strong familiarity with C++, Triton and, MG-ALFA. Excellent communication skills, written and verbal. Capable of succinctly providing results, explaining complex concepts in understandable language.
Possible, depending on staffing levels.
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to sit, stand, walk, speak and hear. They are regularly required to use their hands and fingers to handle or feel objects, tools or controls and be able to reach with hands and arms.
The employee is occasionally required to stoop or kneel.
The employee occasionally will be required to lift and carry up to 25 pounds.
Specific vision abilities required by this job include close vision and the ability to focus.
Let us help you put the pieces together for your career opportunity. For more information, contact or submit a resume to HR@vantislife.com.