Actuary IV (US)

Aflac, Incorporated

57d•Hybrid

About The Position

Located in the U.S., this experienced modeler role performs varied actuarial services including coding, building and maintaining actuarial models for pricing, reserving, forecasting, embedded values and capital calculations for Aflac Re Bermuda LTD (Aflac Re), a Bermuda domiciled insurer that provides reinsurance solutions. This role is expected to ensure accuracy and reasonability of the outputs from the models and is capable of customizing reports and analysis to explain the results at the level that is suitable for senior management. The role is expected to recommend and implement enhancements to improve efficiency, documentation and model governance. This role reports to the Aflac Re Chief Actuary. With minimal supervision, the candidate is expected to code, parametrize, and utilize actuarial models to solve problems which may include: pricing, reserving/reserve testing, experience studies, business planning, or capital planning, and analyzes output from models for reasonability and generates reports. The candidate should make adjustments and improvements to models, when appropriate and draws on extensive experience and judgment to plan and accomplish goals.

Requirements

Proficient at coding models with at least one or more of the following applications (Excel, SQL, MG-Alfa, Prophet, AXIS
Strong familiarity with model governance, best practices and ability to implement independent model validation frameworks
Extensive expertise with reserve and capital methodology and working knowledge under market consistent regimes
The ability to adhere to Aflac and Aflac Re policies and procedures
Some understanding of reinsurance
Strong written and oral communication skills
Strong internal/external customer service skills
Bachelor’s Degree in Actuarial Science, Mathematics, Computer Science or a related field
An FSA designation from the SOA (required) and a minimum of 5 years of experience working in the actuarial field or an ASA designation from the SOA (required) and a minimum of 8 years of experience working in the actuarial field
Currently a candidate in or qualified to become a candidate in the Aflac Actuarial Development Program (ASA and recent FSA)
Hands-on modeling experience in ALM modeling and/or capital modeling
Experience with Bermuda (re)insurance regulatory frameworks or other jurisdictions that adopt market consistent approach to reserve and capital methodology
Experience with economic capital modeling, stress testing, and cash flow testing as part of solvency and financial condition assessments

Responsibilities

Conducts analysis, pricing and risk assessment to estimate financial outcomes in complex actuarial situations; applies knowledge of mathematics, probability, statistics, principles of finance and business to calculations; Works extensively with other departments (eg. product development, financial, compliance, and Japanese colleagues) to complete assignments on schedule
Focuses on automation, streamlining and process enhancement to increase efficiency and adhere to best practices and internal controls
Uses expertise with standard concepts, practices, and procedures and relies on judgment and business acumen where limited experience exists to plan and accomplish goals
Communicates clearly and succinctly the findings of actuarial work to managers, executives, and external parties in an appropriate manner for the benefit of Aflac
Prepare ad-hoc reports requested by internal customers (e.g. Underwriting) as well as external customers (e.g. Insurance Departments)
Develops, enhances, and maintains an interactive asset and liability model
Performs ALM stress testing and scenario analysis
Leads model validation and audit-ready documentation efforts, ensuring compliance with local and internal regulatory requirements that include and not limited to model documentation, model change management and process documentation.
Is proactive and a self-starter, and works with people remotely in different time zones and regions
Provides support to Aflac Inc. or its affiliates (other than Aflac Re Bermuda) as requested from time to time
This is not an exhaustive list, and the Actuary shall be expected to perform other duties as required

Benefits

medical, dental, and vision coverage
prescription drug coverage
health care flexible spending
dependent care flexible spending
Aflac supplemental policies (Accident, Cancer, Critical Illness and Hospital Indemnity offered at no costs to employee)
401(k) plans
annual bonuses
an opportunity to purchase company stock
11 paid holidays
up to 20 days PTO
state-mandated sick leave