Actuarial Employee Benefits Valuation
About The Position
This Actuarial Analyst position will be the key actuary responsible for reserving of the Supplemental Accident & Health products (e.g. Critical Illness) while also gaining exposure to all Employee Benefits products, such as LTD and Life, through projects and analyses. The candidate will work closely with the other functions in Employee Benefits including Business Intelligence, Pricing, Finance, Claims, and Data Science. This position will be tailored to the competency level and the career development needs of the candidate. Reserving for Supp A&H includes owning the reserve models and process improvements, booking reserves to the ledger, and presenting the drivers of results to the EB Chief Actuary. This role will be heavily involved in the annual project that updates and refines the L1 models for individual claim reserves of LTD and Life Premium Waiver (>$5B of reserves). Further, they will develop, interpret, and improve metrics that assist the business in understanding trends and drivers of results. As time and prioritization allows, the student will be asked to help analyze emerging issues and trends that are impacting profitability.
Requirements
- Bachelor’s Degree required.
- Life Actuarial exam path to become a credentialed SOA actuary with at least 2 passed exams required.
- Strong analytical, critical thinking and problem-solving skills, with the ability to effectively resolve complex issues.
- Strong Excel skills required.
- Excellent written and verbal communication skills.
- Attention to detail with strong time and project management skills.
- Driven, intellectually curious, passionate, resourceful and creative.
- Proactive individual, who challenges existing processes, can influence others and drive a process to a conclusion while meeting critical deadlines.
Nice To Haves
- Knowledge of SQL, VBA, R, Python, SAS or similar code languages a plus.
Responsibilities
- Reserving for Supp A&H products including ownership of methods and process.
- Present Supp A&H loss ratio results at month-end to the EB Chief Actuary, explaining drivers of results.
- Develop and report LTD metrics to Claims and various levels of management; perform ad hoc analysis of loss ratio drivers as priorities arise.
- Lead/participate in one major reserve project each year (Premium Waiver or LTD), utilizing company experience and predictive models to update reserve assumptions on individual claims.
- Continuously improve outdated data and reserve processes.
- Prepare reserve reconciliations for internal and external auditors, ensuring regulatory compliance.
- Support the LTD Settlement Claims team using LTD reserve systems and actuarial judgement.
Benefits
- short-term or annual bonuses
- long-term incentives
- on-the-spot recognition
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
