AVP, Sr Actuary

Voya Financial • Los Angeles, CA

2d • Hybrid

About The Position

Together we fight for everyone’s opportunity for a better financial future. We will do this together — with customers, partners and colleagues. We will fight for others, not against: We will stand up for and champion everyone’s access to opportunities. The status quo is not good enough … we believe every individual and every community deserves access to financial opportunities. We are determined to support both individuals and communities in reaching a better financial future. We know that reaching this future depends on our actions today. Like our Purpose Statement, Voya believes in being bold and committed to action. We are committed to a work environment where the differences that we are born with — and those we acquire throughout our lives — are understood, valued and intentionally pursued. We believe that our employees own our culture and have a responsibility to foster an environment where we all feel comfortable bringing our whole selves to work. Purposefully bringing our differences together to positively influence our culture, serve our clients and enrich our communities is essential to our vision. Are you ready to join a company with a strong purpose and a winning culture? Start your Voyage – Apply Now Profile Summary: Manages the day-to-day responsibilities for a major function. Ensures project completion within established timelines and quality standards. Provides technical guidance to the team members and mentorship to more junior team members. Profile Description: The incumbent has accountability for managing one or more of the following functions (or key aspects of these functions): Pricing and Product Design – project revenue, claims, expenses, reserves, investment income, and surplus. Project taxes, policyholder dividends. Set assumptions/parameters, quantify risk and analyze under various scenarios. Test for Generally Accepted Accounting Procedures (GAAP) profitability; test product using cash flow-testing techniques. Financial Planning Support – project financials, including claims/reserves/expenses,/earnings. Perform actuarial analysis supporting the explanation of actuarial/plan earnings variances relating to actuarial matters. Analyze earnings by source and evaluate plans/earnings. Determine ROSHE, performs Economic Value Added (EVA) analysis. Reserve Liability Valuation/Loss Reserving – calculate state/tax/GAAP reserves/liabilities/assets. Determine basis: case level/company level/LOB level. Determine residual dividends. Determine basis: plan sponsor/external client. Risk Analysis/Management – review product design, assumptions, pricing model, financial results, and key risks for new and exisiting products. Perform internal risk reporting and assist in development of risk appetite recommendations. Initiate action plans for managing risk metrics within tolerances May also work with management information, product development, product management, financial reporting, compliance, general management, expense management, marketing support, and compensation Direct projects when assigned

Requirements

• Bachelors’ degree in Mathematics, Actuarial Science, Finance or related business discipline
• 10+ years financial, insurance industry, or actuarial experience
• Fellow of Society of Actuaries
• Highly analytical, strong oral and written communication skills, detail oriented with strong problem-solving skills
• If a management position, 2+ years of managerial experience with an ability to lead a team of highly skilled actuarial professionals
• Ability to focus on “big picture” view while driving into details
• Strong communication skills (written, oral) with all audiences; strong presentation skills including to executive level
• Ability to plan / coordinate large-scale initiatives and manage competing priorities (including negotiating those priorities with senior management)
• Ability to effectively participate in / lead cross functional and cross business teams to drive change

Responsibilities

• Managing one or more of the following functions (or key aspects of these functions): Pricing and Product Design – project revenue, claims, expenses, reserves, investment income, and surplus.
• Project taxes, policyholder dividends.
• Set assumptions/parameters, quantify risk and analyze under various scenarios.
• Test for Generally Accepted Accounting Procedures (GAAP) profitability; test product using cash flow-testing techniques.
• Financial Planning Support – project financials, including claims/reserves/expenses,/earnings.
• Perform actuarial analysis supporting the explanation of actuarial/plan earnings variances relating to actuarial matters.
• Analyze earnings by source and evaluate plans/earnings.
• Determine ROSHE, performs Economic Value Added (EVA) analysis.
• Reserve Liability Valuation/Loss Reserving – calculate state/tax/GAAP reserves/liabilities/assets.
• Determine basis: case level/company level/LOB level.
• Determine residual dividends.
• Determine basis: plan sponsor/external client.
• Risk Analysis/Management – review product design, assumptions, pricing model, financial results, and key risks for new and exisiting products.
• Perform internal risk reporting and assist in development of risk appetite recommendations.
• Initiate action plans for managing risk metrics within tolerances
• Direct projects when assigned

Benefits

• Health, dental, vision and life insurance plans
• 401(k) Savings plan – with generous company matching contributions (up to 6%)
• Voya Retirement Plan – employer paid cash balance retirement plan (4%)
• Tuition reimbursement up to $5,250/year
• Paid time off – including 20 days paid time off, nine paid company holidays and a flexible Diversity Celebration Day.
• Paid volunteer time — 40 hours per calendar year

What This Job Offers

• Job Type: Full-time
• Career Level: Executive
• Number of Employees: 251-500 employees