GENERAL PURPOSE OF THE JOB: The Senior Actuarial Specialist provides pricing support and analysis for new and existing products. Assist in the design and creation of pricing models and analysis as well as documentation of approach, results, and potential risks. Work with product development team to implement modeling approach into production models.
ESSENTIAL DUTIES AND RESPONSIBILITIES: - Assist with feasibility analysis of new product ideas and existing product changes
- Build pricing models using Integrate (formerly MG-ALFA), provide significant creativity and custom coding to assess a variety of unique products and product features
- Assess the profitability and risks within the products through sensitivity testing, assumption review, and other approaches using an established framework
- Creates documentation and communicate findings including profitability, modeling approach, and potential risks within new and existing annuity product concepts
- Assist the Product & Pricing team with implementation of new designs in production models
- Contributes to department-wide process improvement efforts, including training product team on company process improvement program tools and methodologies, identifying inefficiencies and developing and prioritizing corrective actions
- Performs other related work as assigned
SUPERVISORY RESPONSIBILITIES:Direct Reports: 0
EDUCATION AND/OR EXPERIENCE: - Bachelor's degree in actuarial science, finance, mathematics, statistics or other related field of study
- Six (6) years of progressively responsible actuarial/financial analysis or related experience; or equivalent combination of education and/or experience is required
- Knowledge of policy values and benefit calculations for Fixed Indexed Annuities, Registered Indexed-Linked Annuities, and/or Variable Annuities
- Support for SOA examination requirements offered for qualified candidates via company Actuarial Student Program
CERTIFICATES, LICENSES, PROFESSIONAL DESIGNATIONS:KNOWLEDGE, SKILLS AND ABILITIES: - Knowledge of policy values and benefit calculations for Fixed Indexed Annuities and/or Registered Indexed-Linked Annuities
- Expert/advanced level of ability in Microsoft Excel required
- Experience with MG-ALFA and/or Integrate
- Strong systems aptitude
- Effective verbal and written communication skills with ability to effectively present information and respond to questions
- Advanced mathematical skills and strong attention to detail
- Ability to work cooperatively and successfully with employees, customers, and other outside third parties
- Strong organizational and planning skills
- Ability to read, analyze, and interpret general business periodicals, professional journals and technical/operational procedures
- Strong analytical and problem-solving skills with ability to define problems, collect data, establish facts, and draw valid conclusions on practical problems that deal with a variety of concrete variables in situations where only limited standardization exists
- Ability to successfully adjust to changing priorities and meet deadlines in a fast-paced work environment
- Minimal to no travel is required in this position
This description covers the major purpose and essential functions of the job. It is not intended to give all details or a step-by-step account of the way each task is to be performed. Employees may receive other job-related instructions and be required to perform other job-related work requested by their manager. All requirements are subject to possible modification to provide reasonable accommodation to qualified individuals with disabilities.
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