The Associate Director and Actuary is a key member of the actuarial Experience Studies Team. The Experience Studies Actuaries are responsible for developing and maintaining experience studies in support of assumption setting, earnings explanation and business analysis for multiple product lines within AIG’s Life and Retirement business.
With customers including Valuation, Cash Flow Testing, Pricing, Enterprise Risk Management and the supported business leaders themselves, there are many requests to improve our assumptions and our assumption setting process and analysis of policyholder behavior and mortality.
This position is a key role with responsibility and involvement within the Individual Retirement Fixed Annuity business unit. The individual will work with management, actuarial students and data support teams in developing and supporting experience studies for fixed deferred annuities and payout annuity blocks.
The job will include working directly with customers within and outside of actuarial, researching methodologies and techniques in external literature, and proposing and implementing approved studies within the Experience Studies unit. Equally important to the analysis is the documentation supporting the analysis and communication and results, so strong written and oral communication skills are critical.
Projects will include: regular experience monitoring; development of automated reporting tools and dashboards; unlocking and cash flow testing support studies; pricing support; interest rate setting and business development support; and other analysis as requested by our clients.
Organization Structure and Interfaces
This position reports to the Vice President of Experience Studies. This position works in a collaborative manner with the Experience Studies Actuaries and Data Support teams, Valuation Actuaries, Enterprise Risk Management, Finance, and the supported businesses within AIG. There is significant interaction with functional operations areas such as IT, operations, claims, Finance, Internal Audit, and other areas in various locations including Woodland Hills CA, and Nashville TN.
Key Performance Objectives
• Work with Experience Studies team to develop, improve and document experience studies reports and analyses
• Assist in preparation of both quarterly and annual monitoring and reports
• Respond to stakeholder requests in a timely fashion
• Communicate findings of results to actuarial management and business management through our governance process
• Identify additional source data from internal and external sources to supplement existing information
• Assist in development and maintenance of risk and stress factors as needed
• Develop and improve methods for identifying and monitoring dynamic behavior on fixed annuity blocks
Supporting Performance Objectives
• Develop and manage effective internal and external relationships.
• Identifying opportunities to improve resource allocations and collaborate with other work groups across AIG to build a world class financial organization.
• Stay informed of trends in the industry
• Meet continuing education requirements
• Comply with actuarial professionalism standards
• Minimum of ASA designation, FSA preferred
• 5-10 years of experience, including at least 3 years of pricing or modeling fixed deferred annuity products
• General Retirement product risk knowledge
• Experience working withdatabases and with analytic software such as R and SAS is preferred
• Demonstrated success working in cross-functional collaborative teams and in working with senior management.
• Ability to supervise and develop actuarial talent through our student program
• Highly motivated and results-oriented.
• Strong analytical problem solving ability.
• Desire to deliver a complete work product
• Strong oral and written communication skills.
• Strong interpersonal, negotiating, and communication skills.
• Highly organized with a drive for transparency and efficiency.
• Aptitude to handle multiple projects simultaneously & successfully.
• Must be a creative thinker.
• Excellent team player.