Assistant Actuary, Valuation

Kalos Consulting, Inc. - Frederick, MD

Company:

• Very well-established company thats been around over 150 years.

• One of the world's largest insurance and investment management companies with assets are over $1 trillion worldwide.

• Company was certified as a “great place to work” which was based off of a survey from over 350 employees which over 90% said they take pride in their work and feel good about the company’s contribution to the community.

Benefits:

• Greater Baltimore area

• Health, Dental, Vision, Life, Group Term, spending accounts, disability, 401k.

• "floating" holidays, personal leave, health leave, bereavement, military.

• Tuition reimbursement, study program, seminars, industry committees,associations, societies.

• Sponsor sports teams, host family picnics, offer days off PTO yearly for volunteer work.

Community (Location):

• One of the most affordable and livable cities on the east coast!

• Low crime area.

• Highly educated local population, great public schools.

• High quality dining, hiking, and other lifestyle opportunities, great place for active outdoor lovers!

Responsibilities

Overview

You will be responsible for ensuring valuation processes, policies, controls, documentation, and governance are implemented appropriately for new emerging accounting bases, mainly PBR / VM20 and IFRS 17. These high priority and high profile cross-functional initiatives will have significant impacts on the operating model of the valuation department and your experience and skillset is needed to support those workstreams impacting the team.

You will also support carrying out the compilation and analysis of reserves and related financial information as part of the regular valuation process for all associated captive reinsurance entities. A strong understanding of the current state processes will be necessary to effectively build the future state.

Essential Responsibilities

  1. Support the team in coordinating all work and ad-hoc requests needed for the delivery of IFRS 17 and PBR / VM-20 by the respective effective dates.
  2. Coordinate with the IFRS & PBR Development team to design the controls, governance, and production capabilities needed for the IFRS 17 and PBR models and systems. Perform user acceptance testing (UAT) on the company’s new GGY-AXIS models used for these purposes.
  3. Review company position papers on the new emerging accounting regulations, provide feedback to the Director, Valuation on implementation considerations, and liaison with necessary areas to discuss necessary business requirements.
  4. Provide updates to Director Valuation and the rest of the department on progress, decisions, and developments for project workstreams.
  5. Address post-implementation issues when models, systems, and processes used for IFRS 17 and PBR are in production.
  6. Produce and review reserves according to US GAAP, IFRS, Statutory and tax accounting requirements and actuarial principles, and analyze the results. Compile information for schedules and exhibits included in the Quarterly and Annual Statement.
  7. Identify and implement process improvements, including automation of manual tasks where possible, to increase efficiency and transparency while minimizing the risk of errors.
  8. Provide training and support to the rest of the department on the new emerging accounting bases and adequately prepare the team for operating in these new actuarial frameworks.
  9. Other duties as required.

Qualifications

Education

BS/BA in Actuarial Science, Mathematics, Statistics, Economics, or related field

Associate of the Society of Actuaries and working toward fellowship

Experience/Knowledge

5+ years of life insurance/actuarial experience, including valuation

Experience in multiple reporting bases (Statutory, GAAP, IFRS, Solvency II, Economic Capital)

Experience with PBR/VM20 and/or IFRS 17 preferred

Skills

Excellent written and oral communication skills, including presentation skills

Actuarial software skills – GGY-AXIS preferred

Spreadsheet and database capabilities (Excel, VBA, SQL, SAS).

Strong documentation skills

Ability to multi-task in a deadline-oriented environment

Ability to work independently and collaboratively

Strong actuarial analytical skills and problem solving ability

Self-motivated

Posted On: Thursday, September 19, 2019



Apply to this job
or