Overview

The Actuarial Assistant will be responsible for the different model governance functions, including model peer review and model validation, compliant with company's policies and procedures, for all actuarial models. May include parallel model building, and expected results creation for In-force and new business for all legal entities and associated captive reinsurance arrangements as needed. Provide review and analysis for all model purposes including valuation, financial planning, capital strategies, cash flow testing, financial reporting, IFRS17, LDTI, and others as appropriate.

Responsibilities

• Support the Actuary, Model Governance and VP & Corporate Actuary in the timely execution of corporate actuarial deliverables. These deliverables encompass model development, model review & analysis, model validation, model governance, and special projects as determined by the VP & Corporate Actuary.

• Liaise with model development, valuation, finance, investment modeling, and financial planning team members to review and analyze models built using GGY Axis, Excel, SQL, or other software to ensure they are fit for the intended purpose and built according to the model specifications. The model review and validation methods should have diligence commensurate with the materiality and risks associated with the model purpose.

• Review production metrics as needed for accuracy and to ensure appropriate controls and validation have been performed. Be able to understand the movements in these metrics and be able to relate movements back to underlying models.

• Ensure required model reviews are performed and documented in a timely manner to satisfy all reporting and analysis obligations and to ensure sufficient time for user acceptance testing.

• Perform appropriate sensitivities on models as requested.

• Help to automate our procedures and processes outside of the GGY Axis actuarial modeling software to enhance accuracy and efficiency.

• Support the building and maintenance of custom testing models as needed to analyze movements in key metrics, or to serve as interim models until more robust models are developed by model development team in GGY Axis.

• Support the building and review of models for the projection of new reinsurance structures with parent or external companies, and prepare comprehensive documentation as required in support of analysis.

• Document and communicate clearly the results of all reviews and analysis highlighting all potential issues to manager and key stakeholders.

• Perform attribution analysis and investigation of drivers of earnings and profitability under Statutory, LDTI, Tax, IFRS, and JICS reporting, and other analysis as appropriate.

• Serve as the model code peer reviewer or perform model validation as work demands warrant.

• Other duties as required.

Qualifications

Education

• BS/BA Math/Statistics.
• 4/+ Exams working towards ASA

Experience/Knowledge

• Minimum of 3 years of life insurance/actuarial experience
• Term and Secondary Guaranteed UL experience preferred
• Pension Risk Transfer (PRT) experience is a plus
• Model development or modeling experience required
• Experience in multiple accounting methods (statutory, Tax, PBR, IFRS, LDTI) preferred

Skills

• Actuarial software skills - GGY-AXIS experience key requirement
• Spreadsheet and database capabilities (Excel, VBA, SQL)
• Strong actuarial analytical skills and problem-solving ability
• Proficient written and oral communication skills
• Ability to multi-task in a deadline-oriented environment

What's in it for you?

The expected hiring compensation range for this position is $80,800 - $110,000 annually.

The total compensation package for this position may include other elements, such as a sign-on bonus, long term incentives, and annual bonuses. This role is eligible to participate in the Annual Incentive Plan. The current target payment for the position is 8% of base salary, modified for corporate and individual performance. Bonuses are pro-rated based on start date. This role has 15 vacation days and 10 sick days that are accrued on a bi-weekly basis. Employees also have 9 paid holidays throughout the calendar year.

We have a competitive compensation and benefits package focused on your overall wellbeing. Employee benefits include health, life, and dental insurance; 401K with company match up to 6% as well as a pension package; generous time off; and wellbeing initiatives throughout the year (we like doing fun stuff). We're big on professional development and we'll support and mentor you in your career progression and expect you to help us pay it forward by helping us develop tomorrow's leaders and growth-focused professionals. We value our teams and our communities and believe in giving back. Enjoy time off to volunteer for those causes that matter most to you!