Actuary, Valuation

Overview

At Legal & General America, we aim to make a positive difference in the lives of our customers, partners, colleagues, and the communities in which they live.  As a recognized market leader of term life insurance, we’re working to transform our business through innovation and technology to provide products and solutions that help American families secure their financial futures.

We are a future-focused company, passionate about what we do and how we do it. This means working with pace and energy to reach our goals, and challenging ourselves to achieve more.  We strive to create a unique environment where balance between work and life is possible. Our employees' passion, dedication and hard work, as well as our career development opportunities, benefits, and employee activities contribute to our positive workplace culture.

You will be responsible for producing and analyzing protection business Cash Flow Testing (CFT) and Value of New Business (VNB) metrics for Banner Life, William Penn, and all associated captive reinsurance entities and affiliates.  As a subject matter expert in these areas on the Valuation department, you will work collaboratively with business partners across the organization to ensure these results are accurate and understood by all key stakeholders. 

Responsibilities

• Support the VP, Valuation and Appointed Actuary in the timely production of reporting for Value of New Business and Cash Flow Testing. This includes producing memos and other supporting documentation to explain results to a wide range of stakeholders.
• Liaise directly with the model development and investment accounting team members to review actuarial models built to ensure they are fit for purpose. Proactively anticipate and propose necessary model changes to incorporate regulatory requirements or other business needs.
• Ensure appropriate controls and validations have been performed for CFT and VNB results. Be able to understand the movements in these metrics, and be able to relate movements back to underlying changes.
• Produce the necessary projections in a timely fashion for the Appointed Actuary to sign the Actuarial Opinion and Actuarial Memorandum and that all necessary back up and support for these sign offs is documented in a suitable manner. This includes drafting the Actuarial Memorandums.
• Perform appropriate sensitivities on models as requested. 
• Address questions and requests received from auditors and regulators regarding cash flow testing results and the analysis supporting results included within the Actuarial Memorandums.
• Help to automate our reporting procedures and processes outside of the actuarial modeling software for optimal efficiency. Build and / or maintain adjustments or outside of model processes, as needed, until more robust solutions are developed by the model development team. 
• Provide thought leadership on statutory analysis and projections, representing the Appointed Actuary views on cross-functional projects.
• Maintain compliance with industry professional development guidelines. Participate in industry committees where necessary.
• Promote company culture by demonstrating our core behavioral competencies: Collaborative, Purposeful, and Straightforward.
• Other duties as required.

Qualifications

Education

• BS/BA in Actuarial Science, Mathematics, Statistics, Economics, or related field
• Fellow of the Society of Actuaries

Experience/Knowledge

• 8 years of life insurance / actuarial experience
• Significant actuarial modeling / programming experience
• Advanced knowledge of statutory reporting, cash flow testing / ALM, or similar
• Experience with Term Life and Universal Life business
• Experience with reinsurance modeling and analysis

Skills

• Excellent written and oral communication skills, including presentation skills
• Actuarial software skills – Moody’s AXIS preferred
• Proven ability to articulate complex solutions to nontechnical audiences
• Proven ability to proactively identify and implement solutions to unique and complex problems
• Ability to balance multiple projects in a deadline-oriented environment
• Ability to adapt to shifting priorities
• Strong actuarial analytical skills, attention to detail, and problem solving ability
• Self-motivated

What’s in it for you?

The expected hiring compensation range for this position is $132,800 - $182,600 annually.

This role will be working in a hybrid environment with up to 3 days in office per week.

The total compensation package for this position may include other elements, such as a sign-on bonus, long term incentives, and annual bonuses.  This role is eligible to participate in the Legal & General America Annual Incentive Plan. The current target payment for the position is 20% of base salary, modified for corporate and individual performance. Bonuses are pro-rated based on start date.  This role has 20 vacation days and 10 sick days that are accrued on a bi-weekly basis. Employees also have 9 paid holidays throughout the calendar year.

We have a competitive compensation and benefits package focused on your overall wellbeing.  Employee benefits include health, life, and dental insurance; 401K with company match up to 6% as well as a pension package; generous time off; and wellbeing initiatives throughout the year (we like doing fun stuff).  We’re big on professional development and we’ll support and mentor you in your career progression and expect you to help us pay it forward by helping us develop tomorrow's leaders and growth-focused professionals. We value our teams and our communities and believe in giving back. Enjoy time off to volunteer for those causes that matter most to you!

If hired, employee will be in an “at-will position” and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation program) at any time, including for reasons related to individual performance, Company or individual department/team performance, and market factors. The Company reserves the right to change benefits plans at any time.

We are an equal opportunity employer and value diversity at our company. We do not discriminate based on race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, perform essential job functions, and receive other benefits and privileges of employment. Please contact us to request accommodation.