Actuary

Role Value Proposition:

Reporting directly to the RIS AVP for New Business and Emerging Issues, the Actuary will be the primary point of contact for valuation of UK longevity reinsurance (UKLR) and its implementation. This role will be in-charge of building out GAAP (including LDTI) and STAT reporting processes for UKLR, as well as coordinate with the team in Global Actuarial Modeling (GAM) in building the UKLR model in Prophet.

Key Responsibilities:

• End-to-end review of valuation process for UKLR, from data feed from admin system to Prophet calculation engine to output and reporting of results to the GRR
• Build out of process controls for the UKLR valuation process
• Review of seriatim data elements as inputs to the UKLR model in Prophet (primarily MPF changes period to period and impact on reserves)
• Underwriting analysis, with goal to set the tolerance for unexplained to near 0
• Ensure COLA step-ups have been applied properly between MPF vs cash flow projections
• Ensure reserves are consistent with payables/receivables
• DAC and SOP 03-1 calculations
• Oversight of monthly valuation runs
• Review of GAM model updates and sign-off they are appropriate or reasonable

Essential Business Experience and Technical Skills:

Required:

• 8 years of experience within a finance or actuarial function
• Knowledge of Prophet modeling software
• Knowledge on retirement products and applicable statutory regulations and GAAP standards
• Excels at fostering teamwork and working with associates from within and outside RIS Actuarial
• Strong communication and presentation skills

Preferred:

• Near or recent Fellow of the Society of Actuaries (FSA) preferred, or career ASA

Business Category

FMG – Corp Benefit Funding Actuarial

Number of Openings

1

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Requisition #: 125283