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Annuity Product Performance Director (FSA)
Education Requirements: Degree preferred.
Other Requirements: Include:
- Minimum Qualifications:
- FSA, plus a thorough actuarial background.
- Ability to incorporate actuarial expertise with the creativity necessary to effectively design and critique new products.
- Knowledge of annuity products, pricing and marketing philosophies and objectives, risk management, and a broad background in the operations of insurance companies.
- Leadership, communication and human relations skills.
- Creativity, awareness of emerging environmental and industry trends, and strong problem solving abilities using business oriented solutions.
- Preferred Qualifications:
- Experience with Individual Annuities, Deferred Annuities and Immediate Annuities.
- Experience managing direct reports.
- Knowledge of asset liability management and investments.
Salary Range: Negotiable
Description: This position is accountable for all aspects of managing the individual annuity product line, including product development, product pricing, and financial performance. Includes collaboration with Distribution, Finance, Investments, IS, and other areas to ensure the overall success of the annuity product line. Essential job functions include:
- Plans, staffs, directs and controls department activities, including all personnel management functions such as budgeting for and controlling expenses, long and short range planning, interviewing and selecting applicants, training and development, work direction, appraising performance, administering salaries, transfers and promotions, and ensuring compliance with Corporate Affirmative Action guidelines.
- Identifies and investigates profit and financial problems and opportunities as they relate to assigned product lines of the Companies to contribute to achievement of risk adjusted revenue and product line profitability goals with minimum adverse effect on third parties.
- Develops actuarial assumptions while valuing or projecting annuity product lines. May have an opportunity to assist in designing and developing new products for the annuity product line that satisfy marketing objectives and are actuarially sound to support short and long-term profit objectives of our Client.
- Directs monitoring and financial analysis of annuity profitability (GAAP, value-added, statutory, etc.) as a result of the implementation of product pricing strategies.
- Provides actuarial support to the annuity lines and continually assess product line ability as they respond to new challenges brought about by a new pending regulatory environment, including state and federal reform.
- Remains current on new annuity products, procedures and regulatory reforms by actively participating in industry professional groups and various Company and state-sponsored committees.
- Risk Management; Identifies and assesses risk in actuarial responsibilities. Complies with actuarial standards of practice, precepts and enterprise risk management responsibilities. Supports enterprise-wide risk management initiatives.