Associate Actuary

Overview

Develops actuarial and mathematical modeling tools, information and analysis needed to assess risk and profitability of Company products in-force or under development. Analyzes and develops formulas using higher-level mathematics to reproduce and project Company experience in the model. Works with minimal supervision and is responsible for making an established range of decisions, escalating to AVP when necessary and updating AVP on a regular basis.

Responsibilities

What you will do :

• Develops actuarial and mathematical models, and determines assumptions to be used within models and communicates the results obtained from the models.
• Supports other departments in understanding technical concepts and improving their operational efficiency.
• Knows and understands the goals and perspectives of Insurance Operations, Information Technology, Filing and Compliance, Corporate Accounting and Planning, senior management, industry rating agencies and the various state insurance departments.
• Knows and understands Western & Southern Financial Group (W&SFG) products, markets and marketing strategies. Understands each business unit's goals and perspectives.
• Understands core actuarial and accounting principles such as STAT and GAAP valuation concepts, DAC amortization and RBC.
• Proposes creative compromises to conflicting goals of accuracy, precision and deadlines.
• Develops rapport and trust with various departments in the Company to determine mutually acceptable solutions to problems.
• Develops and provides actuarial and mathematical modeling tools, information and analysis to assess profitability and risk of products in-force or under development, asset / liability management, contract holder behavior, expenses, reserves, taxes and other risk analysis.
• Provides solutions to problems encountered in implementing products and financial reporting systems.
• Designs reports to obtain data for product development, cash-flow testing, financial reporting, forecasting, valuation and other reporting requirements.
• Assists with product design.
• Prepares a list of criteria to test administrative and illustration systems.
• Writes actuarial memorandums and certifications required for filing new products, valuation and reserve adequacy, and answers questions from state insurance departments.
• 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 projects, while meeting the current project deadline.
• Documents projects in writing in accordance with established guidelines.
• Complies with standards declared by the Actuarial Standards Board and other applicable bodies (SEC, Accounting Standards Board, as well as the requirements of state and federal regulation.
• Performs other duties as assigned
• Complies with all policies and standards

Qualifications

Required)

Upon Hire (Required)

Upon Hire (Required)

Work Setting / Position Demands :

Travel Requirements :