AVP, Actuary

You can look forward to

*Preferred Candidate Has Been Identified*

Job Summary:

This position is responsible for quarterly statutory reporting, principles-based reserves, and other annual reporting requirements for the FRV – Life Traditional team. This role actively supports external statutory audit deliverables as well as annual statutory reporting deliverables for the Corporate Actuarial team.  The position collaborates with other FRV – Life Traditional personnel and other teams to ensure consistency, accuracy, and efficiency across portfolios. This role is for an FSA, with consideration for an ASA with statutory reserving experience. This role will be responsible for managing one actuarial associate.

Essential Functions:

(50%) Statutory Reserve Reporting and Audit

Responsible for the quarterly financial reporting deliverables for statutory reporting, including principles-based reserves (VM-20) and AG48 reserves. Performs analysis to ensure the completeness and accuracy of this reporting. Collaborates with other members of the FRV team to ensure accuracy of model runs underlying the projections used for statutory reporting and forecasting. Coordinates with the Corporate Actuarial department to ensure accurate, timely, and well-explained VM-20 reserves in compliance with applicable standards. Compiles explanations and presents statutory quarterly earnings results to senior management.

Responsible for overseeing the annual statutory reporting requirements for the FRV – Life Traditional team. This includes inputs to the Blue Book as well as the VM-31 report. Coordinates with the Corporate Actuarial team to ensure the production of complete, timely and accurate results.

Performs secondary review of other teams’ inputs into the statutory reserving process, including but not limited to: preferred testing, X-factors, and VM20 assumption updates.

Manages the annual audit requirements for the FRV – Life Traditional team related to statutory reporting. This includes ensuring compliance with all audit standards, and liaising with our internal and external auditors to reach a mutually agreeable outcome.

(20%) Cash Flow Variance Analysis

Supports the rest of the FRV – Life Traditional team by performing quarterly cash flow analysis. Reviews actual to expected cash flows, and compiles explanations for primary drivers of variances. Proposes action items to resolve variances, where not driven purely by experience. Works with various departments within the company to implement these proposals.

(15%) Statutory Forecast

Oversees the statutory forecast process for the FRV – Life Traditional team. Reviews and performs analysis on the statutory forecast figures to ensure accuracy and completeness. Coordinates with Corporate Actuarial to compile provides explanations for material drivers of earnings variances.

(15%) Process Optimization

Identify and implement process improvements including automation and enhanced controls to ensure accuracy and efficiency. Coordinates with the Actuarial Infrastructure team to ensure smooth implementation of development initiatives into production environment. Collaborates as needed within the organization on special projects and initiatives.

You come equipped with

Competencies:

• Manages complexity
• Self-development
• Initiative
• Decision quality
• Resourcefulness

Essential Knowledge, Skills, and Abilities:

Education/Experience:

•    Undergraduate degree in mathematics, statistics, actuarial science, or related field
•    Minimum of 6 years of related actuarial experience
•    Experience in statutory valuation and financial reporting of life, health and/or annuity products
•    Strong organizational skills, and ability to manage competing priorities and deadlines
•    Strong analytical skills

Computer Skills:
•    Experience with actuarial valuation and projection software, preferably Risk Agility
•    Extensive spreadsheet and database skills
•    Experience working with accounting systems

Communication Skills:
•    Excellent written and oral communication skills
•    Ability to maintain positive working relationships with internal and external constituents

Certificates/Licenses:
•    Fellow of the Society of Actuaries; Associate of the Society of Actuaries with relevant experience will be considered
•    Member of the American Academy of Actuaries

Desired Knowledge, Skills, and Abilities:
•    Prior experience in life, health and annuity reinsurance
•    Experience managing and coordinating projects

Travel:

•    5% travel (domestic, overnight) - Light travel to Orlando office

Compensation (Inclusive of Base + Bonus):

•    $171,400 - $231,900