Assistant Actuary

Overview

Develops and modifies models needed to analyze risk and profitability of products in force and under development. Assists with analysis of results of these models and implements new products and financial reporting systems. Works with some supervision and is responsible for making a moderate range of decisions, escalating to AVP when appropriate and updating AVP on a regular basis.

What you will do:

• Develops and modifies complex technical programs, applying actuarial measures and methods to analyze products, calculate reserves, project financial results and/or assess profitability and risk.
• Analyzes output and reviews data for reasonableness and accuracy.
• Supports other departments in understanding technical concepts and improving their operational efficiency.
• Develops knowledge of W&SFG products and markets, specifically how product features work and which features appeal to which segment and why. Develops knowledge of each business unit's goals and perspectives.
• Acquires understanding of goals and perspectives of Insurance Operations, Information Technology, Legal, Compliance, Corporate Accounting and Planning and various state insurance departments.
• Acquires knowledge of core actuarial and accounting principles such as STAT and GAAP valuation concepts, DAC amortization and RBC.
• Assists in analyzing contract holder experience, expense and asset data and in setting associated assumptions for product development, cash flow testing, financial projections, and/or valuation/reserve calculation.
• Assists in profit and risk analyses, including cash flow testing. Assists with product feature design.
• Provides precise and detailed specifications to Information Systems and product implementation areas for new or modified products and/or new financial reporting systems.
• Assists in preparing list of criteria to test administrative and illustration systems.
• Assists in preparing actuarial memorandums required for new product filings, valuation and reserve adequacy analysis, and in responding to insurance department queries.
• Acquires an in-depth understanding about the topic to which a particular project relates, in order to apply appropriate methods and analysis to this and future related projects.
• Learns the standards declared by the Actuarial Standards Board and other applicable bodies (SEC, Accounting Standards Board, etc.) as well as the requirements of state and federal regulations.
• Documents projects in writing in accordance with established guidelines.
• Performs other duties as assigned.
• Complies with all policies and standards.

• Bachelor's Degree In mathematics or related field.
  
  - Required
• Either:
  
  Completion of Society of Actuaries examinations P, FM, FAM, ALTAM, SRM and PA; or Equivalent experience as demonstrated by three years' tenure in the W&SFG Actuarial Analyst position; currently in good standing with the exam program; and a most recent performance rating and continued current performance of at least Consistently Meets and Sometimes Exceeds.
  
  - Required
• Validation by Education Experience (VEE): completion of the 3 VEE requirements of the Society of Actuaries.
  
  - Required
• The Pre-Actuarial Foundations and Actuarial Science Foundations modules.
  
  - Required
• Proven experience applying appropriate actuarial principles to work-related problems.
  
  - Required
• Proven experience in exercising good judgment, problem-solving skills and time management skills on actuarial projects.
  
  - Required
• Experienced in actuarial software packages such as those used for valuation (ARCVal), experience studies (ARCBase) and/or pricing and projections (MG-ALFA).
  
  - Required
• Demonstrated experience with the companies' administrative systems: how they work and how to extract data from them.
  
  - Preferred
• Must provide examples from work experience of maintaining a high degree of accuracy associated with high volumes of work and/or multiple duties.
  
  - Required
• Demonstrated mastery of the responsibilities and competencies of the Actuarial Analyst position.
  
  - Required
• Proven strong analytical skills, including demonstrated experience identifying and quantifying problems and providing effective resolutions.
  
  - Required
• Demonstrated excellent verbal and written communication skills with the ability to successfully interpret and communicate complex business needs and recommend any course of action, with internal and external partners in a clear, focused and concise manner.
  
  - Required
• Demonstrated ability to prepare correspondence, reports and forms.
  
  - Required
• Demonstrated ability to work independently, maintaining self-motivation, under limited supervision.
  
  - Required
• Proficient in Microsoft Office products.
  
  - Required
• Actively pursuing FSA designation by attempting a Society of Actuaries exam at each sitting. Upon Hire
  - Required
• Passes at least 50% of the exams attempted. Upon Hire
  - Required
• Adheres to all other actuarial exam and other administrative rules. Upon Hire
  - Required

Work Setting/Position Demands:

• Works in an office setting and remains in a stationary…