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Job title:
Financial Actuary

Job description:

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Position: Actuarial: Senior Financial Actuary

Company: Reinsurance Organization

Location: North Carolina

Job ID: 17321

RESPONSIBILITIES:

- This position is part of the Corporate Actuarial team, which is responsible for actuarial activities associated with the Life Solutions client group, including the following:
- Embedded Value Analysis.
- Cash Flow Testing.
- VOBA/DAC Recoverability Test.
- Update existing valuation/Projection Models.
- Build models for valuation/Projection for incoming new business.
- The unit also assists in other actuarial activities associated with Statutory, Tax, GAAP) and IFRS valuation for the life solutions line of business within Company.
- The team member will work closely with Accounting, Operations, and Product Management to handle the responsibilities listed below:
- Perform the development of seriatim and bulk financial projections for embedded value analysis, cash flow testing, and DAC/VOBA recoverability Test for clients within Life Solutions.
- Assist in the preparation of monthly and quarterly financial information relating to seriatim and bulk life business in accordance with Statutory, Tax, GAAP principles for selected clients within Life Solutions.
- Mentor and coach associates to provide knowledge and growth opportunities.
- Provide regular feedback to Product Management with respect to the on-going performance of the client group versus pricing expectations.
- In charge of refreshing existing valuation/projection models as well as adding new clients from Life Solutions to the seriatim valuation/projection modeling process.
- Identify and communicate data quality issues in client-provided inforce extracts and reserving information.
- Establish relationships and work closely with the Actuarial Data Team, Data Processing, Operations and Product Management to improve the quality of incoming client data.
- Perform experience studies and profitability analysis for selected clients within Life Solutions.
- Provide regular feedback to Product Management with respect to the on-going performance of the client group versus pricing expectations.
- Ensure that appropriate and auditable controls, reconciliations and documentation are maintained with respect to valuation, cash flow testing, embedded value, projections/budget, models etc. for selected Life Solutions clients.
- Utilize technology to perform job functions more efficiently and to further automate the reserving and financial projection processes.
- Share technology solutions with other associates and work with the IT area to move ad hoc improvements into a controlled production environment.
- Complete special assignments and projects for the department as necessary.

QUALIFICATIONS:

- Associate of the Society of Actuaries or Fellow of the Society of Actuaries; Member of the American Academy of Actuaries.
- Bachelors degree in Actuarial Science, Mathematics, Computer Science.
- 5+ years of actuarial experience preferably in a reinsurance environment.
- Highly motivated/self-starter.
- Statutory, tax and GAAP reporting experience, a good knowledge of FAS60 and FAS97 accounting requirements.
- Solid analytical skills with strong problem solving ability.
- Excellent verbal & written communication skills.
- Ability to communicate effectively with non-actuarial staff.
- Ability to view the business from a number of different perspectives: valuation, pricing, product management etc.
- Must be able to work effectively independently & as part of a team.
- Expert in windows-based software (Excel & Access).
- Regular attendance is a minimum requirement of this role.

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