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Director or AVP, Life Pricing Actuary
Education Requirements: Bachelor’s Degree in Actuarial Science, Mathematics, Statistics, Economics or related field with demonstrated record of academic excellence.
Other Requirements: Include:
- 7+ years life actuarial, including two years or more in a pricing and product development role; at least a basic understanding of common reinsurance structures.
- Thorough technical grounding in pricing.
- Demonstrated ability to build and maintain relationships.
- Effective interpersonal skills and professional presentation.
- Exhibits sense of urgency and results orientation to both external and internal clients with a focus on New Business Acquisition.
- Effective multi-tasker with demonstrated comfort and ability to effectively prioritize and manage several high-stakes transactions.
- Effective communicator in terms of written and oral communications, including formal and informal presentations.
- Effective listening skills.
- Ability to be team player in an effort to achieve organizational growth, profitability and operational goals.
- Ability to act as Team Leader.
- Demonstrated ability to train, coach and otherwise develop other colleagues in the art and science of reinsurance pricing.
- Takes accountability for role and results and holds others accountable.
- Demonstrates ability and eagerness to learn and to help other associates learn.
- Exhibits can-do, pro-business behaviors.
- AXIS and/or Prophet experience.
- Solid mathematical analysis skills with strong problem solving ability.
- Highly motivated self-starter.
- Must be able to work effectively independently and as part of a team.
- Proficiency in windows-based software (Excel, Access, etc.)
- Project experience desirable.
- Proficiency in one or more life actuarial pricing systems.
Salary Range: $150k+ DOE
Description: This working manager role will be the lead pricing actuary on the largest, highest profile deals and projects. Smaller deals would be worked by their team, with the manager reviewing the work. It is a manager role, but with an individual contributor component too. Will manage small team of 3 to 5 pricing actuaries. The role has a client focus, understands relevant issues affecting portfolio performance and is knowledgeable about the use of reinsurance to solve client problems. This position is responsible for timely completion of the largest and most complicated deals. Key transactional processes include pricing a deal within the approved pricing authority limit, completing peer review of assumptions, models, results and reporting, developing and maintaining strong relationships with the business deal team. Key transactional pricing accountabilities for deals within approved authority limits include:
- Client experience and mortality assessment.
- Pricing assumption setting.
- Obtaining approval from SVP, Pricing for transactions above approved authority limit.
- Identification and quantification of risks in the proposed transaction and identification of mitigating structures or strategies.
- Creating actuarial numeric data models, including liability population cells, data tables, other structures needed to properly price business.
- Generating model runs and sensitivities; verifying results are accurate; completing analysis to quantify changes in assumptions, methods, required reserves, product features and premiums, etc.
- Presenting at Business Review meetings.
- Working to gain approval from the Regional/Global referral teams for deals above local authority limits.
- Completing documentation and reporting as required.
- Completing analysis and providing information required for potential internal retrocession.
- Completing deal communication and hand-off to valuation/modeling teams for final, accepted deals.
- All work is to be completed within the established Price Reinsurance Process and Pricing Guidelines.
- Work with Actuarial Pricing Team to deliver a quality and timely priced product to meet our Client’s and customer needs.
- Complete necessary analysis required for client requested treaty amendments, make recommendation on acceptance of proposed change.
- Develop and maintain strong partnership with marketing actuaries and account executives.
- Work with Corporate Actuarial staff and counterparts to continually improve data modeling, establish valuation numbers, and hand off controls.
- Assist other departments on various corporate projection work (e.g., budget projections, etc.).
- Continue ongoing enhancements to performance management capabilities.
- Assist on various projects involving life product initiatives as they arise.
- Research technical topics, share knowledge, provide informed opinion of best course of action, and implement decision in the pricing process and models.
- Own at least one area of pricing expertise; serve as team subject matter expert.
- Serves as a mentor to others on the team: provides knowledge and training, expertise, and assistance.
- Member of various committees including Audit committee and Investment Committee.