Assistant Vice President, Actuarial Stop Loss

Ullico • Silver Spring, MD

308d • $190,000 - $240,000

About The Position

The Union Labor Life Insurance Company is actively recruiting an Assistant Vice President, Actuarial Stop Loss for our Silver Spring, MD office. This position reports to the Corporate Chief Actuary. The incumbent is the subject matter expert and thought leader on all actuarial aspects of Medical Stop Loss insurance. The role involves significant internal and external engagement with product partners, especially Group Underwriting, Finance, Claims, Senior Management, Consultants, Reinsurers, and State Departments of Insurance. The incumbent assists with other corporate projects as needed, but Medical Stop Loss related work consumes the bulk of the incumbent's work engagement.

Requirements

• Minimum of a BS/BA degree; Master's degree is an added plus.
• Completed the SOA's requirements for Associateship or Fellowship.
• Member of the American Academy of Actuaries.
• Ten or more years' actuarial experience with at least five years of stop loss experience.
• Demonstrated executive level experience in medical stop loss and group disability.

Responsibilities

• Coordinates, directs, and serves as primary supervisor for all actuarial aspects of the Medical Stop Loss line of business engaging with internal and external partners as required.
• Directs and prepares Medical Stop Loss rate manual filings and pricing decisions in cooperation with senior management and Group Underwriting.
• Directs, and may perform, the monthly, quarterly, and annual calculation of actuarial reserves and liabilities for Medical Stop Loss on a Statutory, GAAP, and Tax basis.
• Directs, and may prepare, periodic financial management reports for Medical Stop Loss.
• Directs, and retains primary responsibility for, determination of forward-looking trend expectations and communicates same to senior management and Group Underwriting in collaboration with same.
• Directs product profitability by recommending corrective action when experience studies suggest changes are needed to Medical Stop Loss rate manuals.
• Directs, and may prepare, forward-looking projections for the Medical Stop Loss line of business.
• Reviews annual cash flow testing results for Medical Stop Loss business.
• Develops and maintains professional relationships with state insurance departments and internal and external auditors.
• Supports the technology development of core company systems including automation and upgrades to the Medical Stop Loss administrative system.
• Performs other similar and related duties as required.

Benefits

• Health/Dental/Vision
• Pension
• 401K
• Health Savings Account
• Life Insurance
• Paid Time Off

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Industry: Securities, Commodity Contracts, and Other Financial Investments and Related Activities
• Education Level: Bachelor's degree