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Director, Actuarial – Life Valuation

Ameritas

This is a Contract position in Madeira, OH posted November 6, 2021.

Looking for a strong Actuarial Valuation leader who is detail oriented, results driving individual with advanced knowledge of industry practices and standards.

At Ameritas, our mission is Fulfilling Life. We do that in many ways, but especially by helping people invest in themselves by offering trusted financial products and advice. Because we believe everyone should be happy, healthy, and financially secure, we work hard to provide trusted financial products and valued guidance, including individual life and disability insurance, employee benefits, retirement planning, investments, and wealth management services.

Ameritas is looking for our next Director and Associate Actuary to join our Corporate Actuarial Life valuation team. You will be the department subject matter expert responsible for managing all aspects of the Statutory, GAAP and Tax valuation as well as actuarial financial reporting for the individual life business lines. In this key position, you will assist the company’s Chief Actuary in meeting their objectives and accountabilities, and collaborate with other actuarial areas, including but not limited to Accounting & Finance, Internal Audit, external auditors, and regulators to ensure Ameritas meets the reserve and valuation standards under various reporting basis.

What you do

Provide leadership in delivering the following:

  • Timely and accurate actuarial information for the company’s traditional and interest sensitive life products.
  • Detailed analysis of values related to quarterly statutory, tax and GAAP reserves and GAAP DPAC balances.
  • Required regulatory actuarial information needed for year-end filings, tax reporting, surveys, state exams, IRS exams and other similar requests.
  • Implementation of new software tools and the valuation of new product features.
  • Documentation of decisions made, processes put into place and other work performed.
  • Support for cash flow testing, assumption setting and forecasting.

Be responsible for:

  • Collaboration with internal product and risk-analysis actuaries, accountants, auditors, management, and other associates, as well as external rating agencies, auditors and regulators.
  • Reviewing and understanding new and existing valuation requirements and implementing procedures to comply with those requirements.
  • Effectively partnering with the data manager and other department members to ensure accurate valuation data and definitions are used including data testing.
  • Compliance with all valuation controls, including confirming all calculations reflected in detailed policy audits.
  • Providing guidance, coaching, and training to actuarial associates on the team.

Take initiative to:

  • Conform valuation practices, procedures, and philosophies, where appropriate.
  • Provide insight and recommendations for decisions affecting the entire valuation team and all of Corporate Actuarial.
  • Improve on existing valuation processes and controls.
  • Independently manage the valuation function to which assigned while still working in a team environment.
  • Successfully complete special projects as directed by senior leaders and other management.

What you bring

  • Bachelor’s in Actuarial Science, Mathematics Statistics or related field or equivalent work experience.
  • 7-10+ years of actuarial experience, including 3-5 years in valuation
  • 4+ years of leadership or management experience
  • Associate or Fellow of the Society of Actuaries designation. Member of the American Academy of Actuaries.
  • Advanced knowledge of insurance products and concepts, actuarial theory and techniques, and regulation of the insurance industry.
  • Proficiency with Prophet or similar projection software systems, and proficiency with ARCVAL or similar valuation software systems is desired
  • Knowledge of individual life product design is preferred.
  • Project management experience with the ability to multi-task and switch back and forth between projects as needed.
  • Experience and knowledge of Principle-Based Reserving (PBR) and/or Long Duration Targeted Improvements (LDTI) is highly desired.
  • Ability to accurately perform detailed calculations with a high-level of understanding.
  • Ability to clearly and thoroughly document assumptions, decisions, processes, and other work performed.
  • Ability to work effectively both independently and as part of a team.
  • Strong analytical, problem solving, written and oral communication, and organizational skills.
  • Project management experience with the ability to multi-task and switch back and forth between projects as needed.

What we offer

  • Our company motto is “Fulfilling Life” and we take that job seriously, with a heavy commitment to volunteering and community support, employee well-being, and providing quality products and services that help our customers create a brighter future.
  • Being a mutual-based organization, the return on our investment goes back into the company, to benefit our members/customers.
  • We’re committed to professional development, opportunity, inclusion and diversity. Team building and collaboration are also priorities.
  • A total rewards package with all the comprehensive health and welfare benefits you’d expect, including competitive pay and incentives, 401(k), flexible work schedules and time off to care for yourself and others.
  • Additional popular benefits, including tuition reimbursement, and student loan repayment, an incentivized well-being program, adoption assistance, paid time off for volunteering, training and career development opportunities.

An Equal Opportunity Employer

Ameritas has a reputation as a company that cares, and because everyone should feel safe bringing their authentic, whole self to work, we’re committed to an inclusive culture and diverse workplace, enriched by our individual differences. We are an Equal Opportunity/Affirmative Action Employer that hires based on qualifications, positive attitude and exemplary work ethic, regardless of sex, race, color, national origin, religion, age, disability, veteran status, genetic information, marital status, sexual orientation, gender identity or any other characteristic protected by law

Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled