Job Title:
Vice President & Chief ActuaryThis is an in-office position located at the WoodmenLife Tower in downtown Omaha, NEThis role accurately communicates to management, the board of directors, and external entities, WoodmenLife's financial condition vis-à-vis its balance sheet, operating performance, enterprise value, and other measures. Maintains compliance with state and federal regulations and with published actuarial guidelines and best practices. Assures equitable treatment and judicious outcomes for all member classes.
Essential Job Functions Successful management of a professional staff to achieve the following outcomes:
- Valuation & Financial Reporting
- Own statutory reserve calculations across all product lines, including PBR (VM-20/VM-21/VM-22) for life and annuities, and formulaic reserves for closed blocks. This includes the RBC calculations for C-3 Phase 1 and 2.
- Direct cash flow testing and asset adequacy analysis.
- Oversee reserve reporting for long-term care and closed health blocks, including annual assumption reviews and margin adequacy.
- Recommend reinsurance strategy and ensure accurate reinsurance administration
- Modeling and Actuarial Systems
- Own the enterprise actuarial modeling platform including governance, controls, and change management
- Direct recurring experience studies: mortality, lapse, premium persistency, expense, etc.
- Chair the Assumption Governance Committee, ensuring alignment of assumptions across valuation, asset adequacy testing and enterprise value
- Provide oversight to the management reporting tool of enterprise value
- Profitability Management
- Provide focused leadership on closed blocks of business including strategy on rate increases and refunds
- Partner with the Vice President, Chief Product Officer on refunds and non-guaranteed element determination for open blocks of business
- Regulatory, Compliance & External Relations
- Serve as primary actuarial liaison to the Nebraska Department of Insurance and other state regulators on exams and reserve inquiries.
- Ensure compliance with all applicable Actuarial Standards of Practice (ASOPs), Code of Professional Conduct, and NAIC model regulations.
- Manage relationships with external actuarial consultants and auditors.
- Represent WoodmenLife in industry organizations (Society of Actuaries, American Academy of Actuaries, ACLI, etc).
Provide overall divisional leadership by:
- Providing insights through participation on the President's Leadership Team, Enterprise Risk Committee, Interest Rate Committee and other cross-functional committees
- Managing the staffing, performance and budget of the Actuarial Division
- Coordinating the Actuarial Education Program across the divisions that employ actuaries.
Minimum QualificationsThis job requires a background that demonstrates the following minimum knowledge, skills, talents and traits:
- Bachelors or higher degree in actuarial science, mathematics, or finance.
- Minimum of 15 years of relevant actuarial experience and 10 years of management experience preferred.
- Fellowship in the Society of Actuaries and Membership in the American Academy of Actuaries.
- Proven broad actuarial knowledge and experience with life and annuity products.
- Strong knowledge of statutory accounting principles and practices.
- Proven leadership skills.
- Strong analytical and problem solving skills and demonstrated ability to execute complex and difficult business decisions.
- Ability to multi-task and consistently meet aggressive deadlines.
- Excellent interpersonal skills and experience working across all divisions within the organization.
- Ability to provide seamless, trustworthy, attentive and resourceful (S.T.A.R.) customer service.
- Engages well with others and passionate about providing an exemplary customer experience.
Desired Qualifications- Actuarial experience and knowledge of retirement and health products.
- Experience applying enterprise-wide risk frameworks to strategic decision-making, financial planning, and capital allocation. Chartered Enterprise Risk Analyst (CERA) designation preferred.
If you're ready to make an impact in your community, we'd love to hear from you. Apply today!WoodmenLife will not sponsor applicants for work visas for this position. Applicants must be currently authorized to work in the United States on a full-time basis.
Please ensure your resume includes your current contact information, including:- Full name
- Phone number
- Email address
- Current city and state of residence
