Actuary – Annuity Valuation
About The Position
We are seeking an actuary to play a key role in the implementation of VM-22 Principle-Based Reserving for non-variable annuity products. This role provides actuarial expertise across the design, development, testing, governance, and operationalization of the company’s VM-22 valuation framework, with a focus on establishing a well-controlled, repeatable, and sustainable valuation capability. This position partners across Actuarial, Pricing, Investments, IT, and other stakeholders to translate VM-22 requirements into effective valuation processes. The role provides subject matter expertise across methodology and assumption development, model specifications, asset modeling, data requirements, testing, controls, documentation, and production readiness, and supports the successful transition of VM-22 from implementation into ongoing financial reporting. The ideal candidate brings significant actuarial experience, strong technical and analytical capabilities, and the ability to communicate complex actuarial concepts and implementation considerations to technical stakeholders and senior management.
Requirements
- Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Finance, or a related field.
- FSA professional designation or Career ASA.
- 7+ years of actuarial experience, including 4+ years of relevant experience in annuity valuation, statutory reporting, actuarial modeling, or principle-based reserving.
- Experience developing, testing, or implementing actuarial valuation models.
- Strong analytical and problem-solving skills, including the ability to investigate complex model results and identify underlying drivers.
- Experience working with actuarial modeling, data, or analytical platforms.
- Strong technical documentation skills, including the ability to clearly document methodology, assumptions, controls, and actuarial judgment.
- Strong communication skills with the ability to present complex actuarial concepts and implementation decisions to technical and senior management audiences.
Nice To Haves
- Experience with VM-22, VM-21, VM-20, or other principle-based reserving frameworks.
- Advanced proficiency with PolySystems, VBA, Databricks, and Excel.
Responsibilities
- Serve as a subject matter expert on VM-22, providing technical guidance on regulatory requirements, valuation methodology, modeling considerations, and implementation decisions.
- Lead the implementation of VM-22 across applicable annuity products and valuation processes.
- Develop and document VM-22 methodologies, assumptions, actuarial judgments, and implementation decisions.
- Provide actuarial expertise in asset modeling, including asset cash flows, reinvestment assumptions, asset-liability interactions, and investment strategy.
- Partner with stakeholders to define model requirements, support model development, and validate VM-22 calculations.
- Perform and review model testing, sensitivity analyses, benchmark comparisons, and reasonableness assessments.
- Partner with the valuation team to develop key actuarial assumptions through experience analysis and financial impact assessments.
- Partner with IT to implement scalable, controlled, and reliable processes for data validation, model inputs, valuation outputs, and production reporting.
- Analyze VM-22 reserve results, key drivers, and financial impacts, and communicate findings to actuarial leadership.
- Partner with Model Governance and Internal Audit on governance, controls, documentation, and review processes supporting audit, regulatory, and financial reporting requirements.
- Coordinate with Actuarial, Pricing, Investments, IT, and other stakeholders on implementation deliverables and dependencies.
- Lead the transition of VM-22 from implementation into a controlled, repeatable, and sustainable production valuation process.
- Lead initial production cycles and resolve issues identified following implementation.
- Identify opportunities to improve efficiency, automation, analytical capabilities, and control effectiveness following implementation.
- All other duties as assigned.
Benefits
- 401(k) eligibility
- various paid time off benefits, such as vacation, sick time, and parental leave
- discretionary annual incentive programs
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What This Job Offers
Job Type
Full-time
Career Level
Senior
