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Actuary (ASA/FSA) Axis Implementation
Education Requirements: Degree preferred.
Other Requirements: Include:
- Minimum Qualifications:
- ASA or FSA.
- Could be an ASA working towards FSA or FSA level.
- 3+ years of experience with GGY AXIS.
- Thorough actuarial background, as well as thorough background in Actuarial Science, Math, Statistics, Economics and/or Computer Science.
- Aptitude for statistical interpretation, a working knowledge of advanced actuarial assumptions and formulae and accounting practices.
- Thorough financial background.
- Strong oral and written communication and human relations skills.
- Product and insurance industry knowledge.
- Experience in the development of financial reports.
- Preferred Qualifications:
- 3+ years of experience with GGY AXIS relevant to LTC, DI, Medicare Supplement, or Supplemental Health modeling.
- Knowledge of personal computer applications used for analysis.
- Ability to teach or foster development in others.
- Ability to manage others.
Salary Range: ASA: $80k to $100k or FSA: $110k to $150k
Description: Our Client is in a multi-year project to modernize their actuarial function. It includes the actuarial systems, models, data, reporting, and processes. The next step in this initiative involves building new data feeds and new actuarial models in GGY Axis to serve various actuarial functions (including valuation, financial plan, cash flow testing, economic capital, and asset liability management), and they are seeking a talented and energized individual to join in on these efforts. This individual will make use of GGY Axis software and build actuarial models in an efficient, scalable, transparent, controlled, and accurate manner. While the project includes building Axis models across all of our Client’s products, the preferential Axis experience for this job will be within the Health Module to support our Client’s Long Term Care, Disability Income, Supplemental Health, and Medicare Supplement workstreams. The prime candidate for this role is one who has strong track records of success in building models, values transparency and communication, and enjoys working at a fast pace. This job posting is reflective of the Managing Actuary essential functions and qualification requirements. The Actuarial Associate level has variable essential functions and qualification requirements. Competency and skill set will determine level of placement within the posted job family. Duties and responsibilities include:
- Fully dedicated project resource focused on actuarial modernization initiatives.
- For each model responsible for, heavily involved in all phases of the build process:
- Requirements gathering – For both data and model requirements, and with the support of subject matter experts, gather information necessary to build the model and extract.
- Model Design – Participate in designing the ideal model structure for the given models, while adhering to holistic model design principals – focusing on scalable, transparent, controlled, and automated solutions.
- Model Development – Translate model requirements into technical specifications and then perform the model build activities – focusing on attaining consistency across products, with a ‘first principles’ model build mindset rather than a conversion mindset.
- Model Testing – Participate in various testing related activities across all impacted actuarial functions, including unit testing, regression testing, aggregate reconciliations, in accordance with agreed upon testing strategy for thresholds, variance bucketing, attribution, etc.
- Documentation – develop documentation for new models and affected processes to a degree such that parties unfamiliar with our processes or models can understand how processes flow or how models operate.
- Collaborate with project leadership, management team, subject matter experts, and product owners throughout project to ensure solutions are meeting stakeholder needs.
- Complete tasks as assigned in the project plan, and track progress against milestones. Complete work by milestone dates or communicate early and often if slippage is beginning to occur.
- 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 as they relate to actuarial modernization.