Financial & Actuarial Risk Officer

The Financial/Actuarial Risk Officer will ensure TIAA’s actuarial and insurance risks are effectively managed, through robust risk management controls and frameworks aligned to our insurance and annuity liabilities, evolving business strategy and operating environment.  As a senior level professional within the Actuarial & Financial Risk Management team, this role provides independent risk oversight and review across a broad range of actuarial and financial disciplines.

Key Responsibilities and Duties

• Lead independent review and challenge of product development and pricing, with a focus on actuarial methodologies, assumptions and judgments; producing documented findings and actionable recommendations for senior leadership.

• Support development of Value of New Business (VNB) metrics to evaluate the risk and return across TIAA’s annuity and insurance product portfolios

• Provide effective risk oversight on reserving, cash flow testing, and any emerging regulatory changes to asset adequacy and capital requirement

• Partner with Actuarial Services, the General Account Office, and Financial Risk teams to provide effective financial risk reviews on strategic transactions (e.g. reinsurance, M&A) or large transformation initiatives

• Support the review of ALM and liability cash flow projections, including key actuarial assumptions and judgments.

Educational Requirements

• University (Degree) Preferred

Work Experience

• 5+ Years Required; 7+ Years Preferred

Physical Requirements

• Physical Requirements: Sedentary Work

Career Level
9IC

Success in this role is driven by the ability to:

• Highly motivated team player who can proactively collaborate with other teams in Risk & Compliance as well as in the business lines
• Inform and influence others appropriately, clearly and on a timely basis
• Adapt and thrive in complex, uncertain and changing situations
• Listen actively, and challenge yourself and others to think about all angles of the issue
• Quickly build knowledge in unfamiliar topics and apply it to the work
• Demonstrate curiosity across a broad range of business issues

Required Qualifications:

• 5+ years actuarial and/or quantitative risk management experience
• Demonstrated experience with insurance and annuity product pricing, actuarial assumption setting, reserving or cash flow testing in a life insurance or annuity context
• Demonstrated analytical and problem-solving skills, including ability to drill down on details, perform analyses, resolve issues and distill findings into a concise summary of key conclusions and recommendations
• Excellent communication skills, both verbal and written

Preferred Qualifications :

• 7+ years of actuarial and/or quantitative risk management experience in a life insurance and annuity context
• Bachelor's or Master's degree in Actuarial Science, Mathematics, Statistics, Finance, or Economics is preferred
• ASA (Associate of the Society of Actuaries) or FSA (Fellow of the Society of Actuaries) highly preferred
• Familiarity with Asset Liability Management concepts and models, including interest rate risk, duration management, and liability cash flow analysis
• Experience working within or in close partnership with an actuarial function at an insurance company or financial services firm
• Proficient in Microsoft Applications, actuarial projection or pricing systems 

Anticipated Posting End Date:

Actual base salary may vary based upon, but not limited to, relevant experience, time in role, base salary of internal peers, prior performance, business sector, and geographic location.  In addition to base salary, the competitive compensation package may include, depending on the role, participation in an incentive program linked to performance (for example, annual discretionary incentive programs, non-annual sales incentive plans, or other non-annual incentive plans). 

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