Senior Actuary: US GAAP Valuation & Analytics; Hybrid

Overview

At Banner Life Insurance Company, we lead with heart and ambition. Every day, we transform purpose into progress, guided by our unwavering commitment to be better for our customers, clients, and communities, not just today but long-term as well. Our people are the driving force behind everything we achieve. Their passion, purpose, and pursuit of innovation empower us to deliver cutting-edge solutions that support those we serve, ensuring we are here for you, here for good and striving for better.

We're a forward-thinking company energized by our work and how we show up for one another. Our culture is built on meaningful impact and genuine enjoyment, because we believe great work and great experiences should go hand in hand.

By offering career development opportunities, comprehensive benefits, and programs that support your wellbeing, we help you thrive personally and professionally. We are here for you, here for good and here for better.

As an Actuary on the valuation team, you will be responsible for calculating, analyzing, and reporting financial liabilities for insurance products in compliance with US GAAP. The early focus of this role will be supporting the development of US GAAP reporting for Banner Life and all affiliated and subsidiary companies with a focus on those areas impacting the valuation department. This will entail working with a cross-functional team and partnering with both internal and external stakeholders to ensure new processes are effectively controlled, results are well understood, and team members are appropriately engaged.

Following the transition to US GAAP, you will serve as a subject matter expert of the newly developed US GAAP valuation processes supporting the team in delivering valuation results and providing added value across the finance organization through robust analysis and insights.

Responsibilities

• Supporting the implementation of US GAAP reporting for the Company as a key member of this cross-functional project team
• Gain familiarity with current IFRS valuation processes and leverage those existing processes to effectively and efficiently make changes needed under US GAAP
• Participating in the drafting of accounting policies and provide actuarial expertise where appropriate in the preparation of these documents
• Developing a forum for collaboration and education across the valuation team to ensure we are aligned and prepared upon transitioning to US GAAP reporting
• Proactively identifying opportunities, confidently making and support recommendations, and independently implementing solutions as necessary to support a positive reporting outcome for the Company

• Thorough understanding of US GAAP reporting methods, processes, and assumptions
• Thorough understanding of the team's responsibilities regarding all monthly, quarterly, and annual valuation requirements, and performing assigned processes within specified deadlines
• Coordinating and executing the production and review of reserves and related financial metrics according to US GAAP requirements and actuarial principles. Performing relevant analyses and collaborating with various internal and external stakeholders (e.g., modeling, financial reporting, pricing teams) to ensure efficient and effective valuation operations. Compiling information for regulatory disclosures (e.g., schedules and exhibits).

• Actively engaging with internal and external stakeholders (e.g., financial reporting, FP&A, auditors, etc.) contributing to technical policy decisions as the subject matter expert representing the actuarial valuation team
• Supporting the development and analysis of US GAAP valuation assumptions. Performing relevant model evaluations and impact assessments and preparing associated documentation.
• Supporting any additional ad-hoc projects as the subject matter expert in US GAAP representing the actuarial valuation team
• Providing relevant training and support to the Finance organization as required

• Maintaining and enhancing documentation of valuation processes, procedures and controls
• Producing management information regarding reserves and related financial metrics, and presenting analysis and review results to relevant stakeholders
• Preparing materials for internal and external audit requests

• Coordinating and executing testing of US GAAP systems (e.g., AXIS, IT systems and technology, sub-ledger, etc.) and model changes, and collaborating with various internal and external stakeholders (e.g., IT, modeling, financial reporting teams) to ensure continuing model appropriateness and accuracy, and compliance with applicable control frameworks
• Proactively identifying areas for process improvement (e.g., automation of procedures) and implementing solutions to exploit the benefits of improvement opportunities

• Complying with relevant professional development requirements and…