Director, Actuary

Kuvare Holdings•Cedar Rapids, IA

22h

About The Position

The Actuarial Directors are part of the Actuarial team. The team covers an array of specialties including Life and Annuity Valuation, Modeling and Forecasting, Pricing & Product Management, Asset Liability Management, and Enterprise Risk Management. The actuarial team hopes to continue to develop Fellows in the Society of Actuaries. As a director, it can be expected to have an area of specialization but will also have opportunities to work across specialty areas. This recognizes that development does not end with attainment of Fellowship, or similar levels actuarial development. Supervision of actuarial students (either interns, associates, or senior associates) or other positions on either a project level or on a full-time reporting basis is possible. As a Director on the Actuarial team, your day-to-day activities will be dependent on the function you are supporting and are expected to change throughout your employment, although such changes may be separated by several years. Additionally, you may oversee Senior Actuarial Associates, Actuarial Associates and possibly Actuarial Interns on technical model aspects.

Requirements

BS in Actuarial Science, Mathematics, Finance, Statistics, or related area
FSA designation or near FSA designation
A minimum of 5 years of relevant full-time insurance actuarial experience is expected.
Strong analytical and problem-solving skills
Strong business and collaboration skills
Proficiency in MS Office (Excel, Access, Word, PPT)
Excellent verbal and written communication skills
Flexible can-do attitude, willing to help out with all types of tasks in an ever-changing environment
Passion to learn new things and design new solutions
Work both independently and as part of a team

Nice To Haves

Demonstrated ability with Actuarial software is a plus (e.g., AXIS, MG-ALFA, ARCVal)
AXIS skills strongly preferred for Pricing & Product Development role

Responsibilities

Prepare, monitor, and analyze reserve trends monthly on GAAP, statutory, and tax accounting bases
Develop management reporting for existing business
Assist/Manage preparation of Statutory Annual and Quarterly Statements
Organize and prepare Valuation results for management review
Lead efforts or assist in gathering information and analysis for external auditor inspections
Develop methodology memos, change memos, management presentations on topics as needed
Organize and Maintain AXIS pricing model(s) to provide robust pricing and new business value analyses
Support rate setting and other non-guaranteed elements (NGE) process; perform analysis to support business decisions, signoff, and implementation
Monitor emerging product experience, manage actuarial assumptions and identifying any new risks
Coordinate and lead cross-functional initiatives related to product development and reporting
May Oversee Life and/or Annuity product illustrations; provide support to Customer Service on exemptions and escalated requests
Develop relationships with internal and external distribution (sales) stakeholders
Manage projects and stakeholders to promote timely and effective progress on key initiatives
Responsible for designing and pricing of new products
Support Reinsurance efforts for risk sharing, analysis of existing and potential treaties, developing relationships with counterparts at reinsurers
Support filing of new products
Ensure products are built appropriately in administration system and validating test cases
Produce, present, and improve monthly business monitoring reporting
Provide insight and analysis to inforce experience trends
Oversee monthly crediting rate package and process
Coordinate with ALM and System on data and result analysis
Assist in the development and analyze annual Illustration Actuary testing models
Review special policy illustration requests
Assist on Product related projects and requests
Develop management presentations on topics as needed.
Build and review model inputs to support financial projection capability
Execute and monitor model projections including troubleshooting model calculations
Analyze model output ensuring accuracy with intended model purpose
Build and maintain tools to assist in result analysis.
Develop management presentations on topics as needed.
Oversee Senior Actuarial Associates, Actuarial Associates and possibly Actuarial Interns on technical model aspects.
Update quarterly stress testing results and compare versus risk appetite and limit
Monitoring investment portfolio to ensure compliance with guidelines and limits
Monitor asset and liability duration, report mismatches outside of tolerance
Prepare weekly hedging file, monitor hedge position and results
Where guidelines or limits are breached, recommend alternative remediation plans as needed
Develop management presentations on topics as needed.
Assess reasonableness of reserves as new blocks of business are acquired.
Assess product features and determine product management strategies as new blocks of business are acquired.
Build efficiencies through programming solutions in all aspects of model input and output data manipulation.
Assist in the development and production of the Own Risk and Solvency Assessment.
Assess the impacts of an alternate investment or reinvestment strategy and recommend changes as needed.
Assist in the development of optimization macros and recommend methods to improve hedging and ALM efficiency.