This role leads a team of five actuarial associates and directs pricing and product management activities across Assurity's life, annuity, disability income and supplemental health product lines, spanning the individual and worksite distribution channels.
ESSENTIAL FUNCTIONS40% Leads and directs product actuarial work related to product development, pricing, implementation, and ongoing product performance for all lines of business, which includes:- Contributing to product concept development and strategy, partnering with the product strategy leader, distribution and senior leadership on market opportunity and competitive positioning.
- Establishing actuarial pricing methodologies, assumptions, governance standards, and profitability expectations for product development and pricing.
- Directing pricing models and actuarial analysis to evaluate product profitability and risk, including advancing modernization of actuarial pricing and modeling capabilities, use of predictive analytics and automation.
- Translating approved product concepts into actuarial specifications, premium rates, and policy values necessary for implementation.
- Providing clear actuarial conclusions to senior leadership regarding product design, pricing, profitability, and implementation decisions.
20% Leads ongoing product performance management and actuarial review of the product portfolio, which includes:- Establishing and maintaining a disciplined process for routine review of product experience and financial performance, with in-depth studies as necessary.
- Evaluating actual-to-expected experience and emerging trends in mortality, morbidity, claims, lapse, utilization, expenses, and other key product assumptions.
- Identifying material deviations from expected product performance and determining appropriate management actions, including changes to pricing, product design, underwriting, reinsurance, or other product management levers.
- Partnering with Finance and other actuarial functions to evaluate and communicate the impact of product performance on Company financial results.
15% Serves as senior actuarial leader and advisor for key external contacts, senior leadership, and other internal functional areas, which includes:- Serving as a trusted actuarial advisor to senior leadership on product-related financial, risk, and actuarial matters.
- Representing Assurity on actuarial matters with regulators, industry organizations, reinsurers, distribution partners, and other key external stakeholders as appropriate.
- Leading actuarial evaluation of reinsurance strategy, structure, and pricing in support of product profitability and risk management.
- Ensuring product actuarial work complies with applicable Actuarial Standards of Practice and Company governance standards.
- Overseeing department involvement in state rate and product filings, partnering with Compliance and Legal to ensure timely, accurate submissions.
- Overseeing review of marketing and sales materials for actuarial and regulatory compliance.
- Preparing and delivering clear presentations on complex actuarial matters for senior leadership, the Board of Directors, and other audiences as appropriate.
20% Creates a positive team environment of learning, growth, accountability and high performance, which includes:- Teaching, coaching and mentoring actuarial associates to strengthen actuarial technical expertise, actuarial judgment, business acumen, decision making, and recommendation-oriented analysis.
- Providing overall leadership, supervision, workload management, and appropriate delegation across the Product Management actuarial team.
- Managing performance and conflict as needed while fostering collaboration, ownership, and continuous improvement.
- Developing future actuarial leaders through progressive responsibility, professional development, and succession planning.
5% Serves as Company's Illustration Actuary, which includes:- Ensuring the Company's illustration of non-guaranteed elements are in conformance with the applicable standard.
- Certifying the Company's disciplined current scales used in illustrations are in conformance with the applicable standard.
- Reporting to senior leadership and the Board of Directors on all such matters.
The list of essential functions is not exhaustive and may be substituted as necessary.EXPERIENCE AND SKILL REQUIREMENTS
- 12+ years of progressive actuarial experience, including significant experience in product pricing, product development, and actuarial leadership.
- Demonstrated success teaching, coaching, and mentoring developing actuarial professionals.
- Deep expertise in actuarial pricing, modeling, profitability analysis, experience monitoring, and product risk management.
- Experience with modern actuarial pricing and modeling platforms, and familiarity with predictive analytics and data science tools and techniques.
- Strong actuarial judgment and the ability to make sound decisions and recommendations in situations involving uncertainty or incomplete information.
- Strong strategic and critical thinking skills with a pragmatic, bottom-line orientation and ability to translate complex analysis into clear management actions.
- Strong understanding of the insurance industry, competitive landscape, and regulatory environment, preferably in life, disability, or supplemental health insurance.
- Excellent executive communication, interpersonal, and partnership skills.
- Leadership talents required for success in this role:
- Leads with purpose and a commitment to develop people by positioning them where they can excel using their individual talents.
- Thinks strategically about product innovation and competitive positioning while maintaining sharp focus on mission and profitability.
- Drives results with precision, exactness, and attention to detail while remaining accountable for outcomes.
- Recruits and develops a high-performing team while modeling care, positivity, and resilience under pressure.
EDUCATION AND CERTIFICATION REQUIREMENTS
- Bachelor's degree in actuarial science, mathematics, statistics, economics, or related field.
- FSA designation required.
PHYSICAL AND WORK SCHEDULE REQUIREMENTS
- May require work beyond standard hours to fulfill job duties.
- Some travel may be necessary to attend industry meetings and conferences.
- Hybrid position based in Lincoln, NE. Requires three days per week onsite and provides a hybrid schedule with two remote workdays, if desired.
