About this position
About Kuvare
Kuvare is on a mission to serve hardworking consumers overwhelmed by the complexities of retirement and is built from the ground up to do so. Our unified financial hub protects the retirement of everyday Americans and the distributors, carriers and investors that serve them. We create life insurance and annuity products that protect consumers’ retirements, and are simplified for distributor partners and financial professionals to sell and service.Kuvare family of companies:Retail Annuity and Life Insurance Solutions:- United Life Insurance Company- Guaranty Income Life Insurance Company- Lincoln Benefit LifeInstitutional Insurance:- Kuvare Life ReBespoke Insurance Solutions:- Ignite Partners
About the role
The Actuarial Directors are part of the Actuarial team. The team covers an array of specialties including Life and Annuity Valuation, Modeling and Forecasting, Pricing & Product Management, Asset Liability Management, and Enterprise Risk Management. The actuarial team hopes to continue to develop Fellows in the Society of Actuaries. As a director, it can be expected to have an area of specialization but will also have opportunities to work across specialty areas. This recognizes that development does not end with attainment of Fellowship, or similar levels actuarial development. Supervision of actuarial students (either interns, associates, or senior associates) or other positions on either a project level or on a full-time reporting basis is possible.
What you'll do
As a Director on the Actuarial team, your day-to-day activities will be dependent on the function you are supporting and are expected to change throughout your employment, although such changes may be separated by several years. Additionally, you may oversee Senior Actuarial Associates, Actuarial Associates and possibly Actuarial Interns on technical model aspects.
Duties and responsibilities include, but are not limited to
Valuation tasks
• Prepare, monitor, and analyze reserve trends monthly on GAAP, statutory, and tax accounting bases
• Develop management reporting for existing business
• Assist/Manage preparation of Statutory Annual and Quarterly Statements
• Organize and prepare Valuation results for management review
• Lead efforts or assist in gathering information and analysis for external auditor inspections
• Develop methodology memos, change memos, management presentations on topics as needed
Pricing & Product Development
Organize and Maintain AXIS pricing model(s) to provide robust pricing and new business value analysesSupport rate setting and other non-guaranteed elements (NGE) process; perform analysis to support business decisions, signoff, and implementationMonitor emerging product experience, manage actuarial assumptions and identifying any new risksCoordinate and lead cross-functional initiatives related to product development and reportingMay Oversee Life and/or Annuity product illustrations; provide support to Customer Service on exemptions and escalated requestsDevelop relationships with internal and external distribution (sales) stakeholdersManage projects and stakeholders to promote timely and effective progress on key initiativesResponsible for designing and pricing of new productsSupport Reinsurance efforts for risk sharing, analysis of existing and potential treaties, developing relationships with counterparts at reinsurersSupport filing of new productsEnsure products are built appropriately in administration system and validating test cases
Product Management tasks
• Produce, present, and improve monthly business monitoring reporting
• Provide insight and analysis to inforce experience trends
• Oversee monthly crediting rate package and process
• Coordinate with ALM and System on data and result analysis
• Assist in the development and analyze annual Illustration Actuary testing models
• Review special policy illustration requests
• Assist on Product related projects and requests
• Develop management presentations on topics as needed.
Modeling and Forecasting tasks
• Build and review model inputs to support financial projection capability
• Execute and monitor model projections including troubleshooting model calculations
• Analyze model output ensuring accuracy with intended model purpose
• Build and maintain tools to assist in result analysis.
• Develop management presentations on topics as needed.
• Oversee Senior Actuarial Associates, Actuarial Associates and possibly Actuarial Interns on technical model aspects.
Risk and Investments tasks
• Update quarterly stress testing results and compare versus risk appetite and limit
• Monitoring investment portfolio to ensure compliance with guidelines and limits
• Monitor asset and liability duration, report mismatches outside of tolerance
• Prepare weekly hedging file, monitor hedge position and results
• Where guidelines or limits are breached, recommend alternative remediation plans as needed
• Develop management presentations on topics as needed.
Ancillary Responsibilities:
• Assess reasonableness of reserves as new blocks of business are acquired.
• Assess product features and determine product management strategies as new blocks of business are acquired.
• Build efficiencies through programming solutions in all aspects of model input and output data manipulation.
• Assist in the development and production of the Own Risk and Solvency Assessment.
• Assess the impacts of an alternate investment or reinvestment strategy and recommend changes as needed.
• Assist in the development of optimization macros and recommend methods to improve hedging and ALM efficiency.
Qualifications
Experience
BS in Actuarial Science, Mathematics, Finance, Statistics, or related areaFSA designation or near FSA designationA minimum of 5 years of relevant full-time insurance actuarial experience is expected.
Skills/Competencies
Strong analytical and problem-solving skillsStrong business and collaboration skillsProficiency in MS Office (Excel, Access, Word, PPT)Demonstrated ability with Actuarial software is a plus (e.g., AXIS, MG-ALFA, ARCVal)Mandatory for a Modeling roleAXIS skills strongly preferred for Pricing & Product Development role
· Excellent verbal and written communication skills
· Flexible can-do attitude, willing to help out with all types of tasks in an ever-changing environment
· Passion to learn new things and design new solutions
· Work both independently and as part of a team
Physical Demands
Normal office working environmentOccasional evening and weekend hours to meet deadlinesAbility to type / perform data entryAbility to read from a computer screen and paper reportsExpress ideas and otherwise communicate with the spoken word