NEW POSTING Posted Dec 06, 2023 by Invenio
Job Overview: The Associate Actuary is responsible for performing actuarial analysis, risk assessment, and providing key insights to support the financial management and strategic decision-making of an annuity and life reinsurance company. This position involves working closely with a team of actuaries, underwriters, and other stakeholders to ensure the company’s financial stability and growth.
Actuarial Analysis: Conduct actuarial analyses to evaluate the financial implications of annuity and life insurance policies. This includes pricing, reserving, and profitability analysis.
Risk Assessment: Assess and manage the risks associated with annuity and life insurance products, including mortality, longevity, interest rate, and market risks.
Pricing and Product Development: Collaborate with the product development team to price new annuity and life insurance products, ensuring they are competitive and profitable.
Reserving: Calculate and maintain actuarial reserves for annuity and life insurance policies, ensuring they comply with regulatory and accounting standards.
Experience Studies: Conduct experience studies to analyze policyholder behavior and mortality rates, and use this data to refine pricing and reserving assumptions.
Financial Modeling: Develop and maintain financial models to project the company’s financial performance under various economic scenarios.
Regulatory Compliance: Ensure that all actuarial work is compliant with industry regulations and standards.
Reinsurance Treaty Evaluation: Evaluate reinsurance treaties to assess their impact on the company’s risk profile and financial results.
Risk Mitigation: Propose and implement strategies to mitigate financial and operational risks related to annuity and life insurance portfolios.
Communication: Effectively communicate actuarial findings and recommendations to various stakeholders, including senior management, underwriters, and regulators.
Collaboration: Work closely with cross-functional teams, including underwriting, investments, and finance, to achieve common financial goals.
Actuarial Credentials: Associate Actuarial designation (ASA) or near-ASA with the Society of Actuaries (SOA) or equivalent credential.
Education: Bachelor’s degree in mathematics, actuarial science, or a related field. Advanced degrees (e.g., M.S. in Actuarial Science) may be a plus.
Experience: Typically, 2-5 years of experience in an actuarial role in the insurance or reinsurance industry, preferably focused on annuity and life products.
Technical Skills: Proficiency in actuarial modeling software (e.g., Prophet, AXIS), statistical analysis tools, and spreadsheet applications.
Regulatory Knowledge: Familiarity with industry regulations and compliance standards related to life and annuity products.
Analytical Skills: Strong quantitative and analytical abilities, with the capability to perform complex actuarial calculations.
Communication Skills: Excellent verbal and written communication skills to convey actuarial findings to both technical and non-technical audiences.
Team Player: Ability to work collaboratively in a team and coordinate with multiple departments.
For an immediate response and a confidential conversation about this position, please contact:
Katelyn Quinn | firstname.lastname@example.org | +1 345 769 7000
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+1 345 769 7000