Strong analytical skills or advanced knowledge of actuarial concepts.
Solid understanding of insurance products (especially variable annuities), statutory accounting, and regulations.
Understanding of hedging concepts and derivatives.
Responsibilities
Prepare quarterly stress testing analysis of potential company risk exposures.
Prepare risk management reports for cedants as required by reinsurance agreements.
Conduct ad-hoc analysis of potential financial risks or opportunities.
Report risk findings to management, investors, 3rd parties, and regulators, contributing to the ORSA.
Collaborate with Finance team to review and explain financial results.
Provide modeling support for interactions of asset sales and purchases with hedging.
Improve, automate, and document existing processes over time.
Benefits
Opportunity to work with a collaborative team of experts.
Exposure to various areas within risk management and finance.
Potential for mentorship and development of junior actuarial staff.
Engagement in projects with long-term impacts on company risk strategy.
Full Job Description
This role will take ownership of actuarial risk analysis and reporting for defined areas of the risk managementfunction,with a primary focus on evaluating the company’s financial position, including capital sufficiency and surplus, under adverse stress scenarios. As an Associate Actuary you will be a key individual contributor, applying actuarial techniques and judgment to support stress testing, financial risk assessment, and related internal and external reporting. The position also contributes to process improvement and automation efforts and may provide guidance or oversight to junior actuarial staff or interns.
Primary Responsibilities:
Prepare quarterlystress testinganalysisof potential company risk exposures under a variety of extremeeconomicscenarios
Preparerisk management reportsfor cedants as required by reinsurance agreements
Ad-hoc analysis of potential sources of financial riskor opportunityarising from items such asnew reinsurance agreements, product features,market exposures, orpolicyholder behavior
Risk reporting to management, investors, 3rdparties and regulators including contributing content to Venerable’s Own Risk and Solvency Assessment (“ORSA”)
Work with Finance team toreviewand help explainfinancial resultsand understand relatedassumptions
Provide modeling supportfor the interaction of asset sales and purchases with hedging and liquidity programs
Applyactuarial techniques and business knowledge to effectively deliver on projects / assignments including showing initiative to build specialized knowledge
Improve,automateand documentexisting processes over time
Workassigned may include complex, unstructured, or non-routine tasks. Could include drilling through a complex data, system or model with high level guidance. Thorough review of own or of others' work. Summarization / communication / presentation of results to a broader team. Preparation of documentation
Stronganalyticalskills or advanced knowledge of actuarial concepts; ability to use this knowledge to lead/develop solutions to ad-hoc requests or issues
Solidunderstandingof insurance products (especially variable annuities), statutory accounting, regulations, or insurance company structure from prior experience in roles such as pricing, modeling, valuation, risk management, inforce management, experience studies
Understanding of hedging concepts and derivatives
Detailorientedand strong analytical problem-solving skills to make informed decisions
Leveragesstrongoral and written communication skills to readily and effectively collaborate with peers, managers, shares information and asks questions
Abilitytomanage competing priorities and deadlines
Strongdesireto learn and grow; willing to rotate to other actuarial roles
