Senior Actuarial Consultant, EBS Reporting

Talcott Financial Group* is an international life insurance group and the industry’s trusted partner for comprehensive risk solutions. Talcott creatively designs and expertly delivers responsive solutions that transfer risk and manage capital in a way that supports the strategic needs of insurers today and into the future.
Talcott Financial Group has a proven track record of well-executed transactions, and the enterprise benefits from its strong financial position with over $127 billion in assets under management, its investment-grade financial strength ratings, and its partnership with Sixth Street, a leading global investment firm.
Talcott Financial Group’s two core business platforms include: U.S. based Talcott Resolution and Bermuda and Cayman based Talcott Re.


Overview:

We are seeking a Senior Actuarial Consultant to perform the actuarial functions related to Bermuda Economic Balance Sheet (“EBS”) reporting across multiple lines of business and two legal entities.

Responsibilities:

• Perform the end-to-end actuarial reporting and valuation for annuity liabilities, ensuring timely and accurate reporting under EBS
◦ Product oversight will focus on Annuity (non-Variable Annuity) business, specifically Fixed Indexed Annuity (FIA), Fixed Annuity (FA) and Payout annuities.
◦ Run GGY-AXIS models and perform financial controls, back-end validation, and management reporting on the model output.
◦ Maintain an appropriate reporting oversight environment that includes recommending, implementing, and documenting enhancements of valuation methodology, assumptions, controls, and procedures.
◦ Collaborate with Experience Study, ALM, Investment Management, Asset Modeling, Liability Modeling to recommend and evaluate enhancements/changes.
• Support decision making in the following areas
◦ Attribution analysis to explain key drivers of quarterly changes in EBS assets, best estimate liabilities (BEL), and surplus.
◦ BEL analytics and BI to effectively understand cash flow profile, asset-liability interactions, and key metrics under different scenarios.
◦ EBS BEL projections under different scenarios to support FP&A and Risk Management on a timely and effective manner.
◦ ALM dashboard for annuity ALM risk management. Collaborate with ALM, Investment Management, Asset Modeling and recommend enhancements to ALM procedures.
• Fulfill other roles and responsibilities as required to support the growth and evolution of overall enterprise and execution of key priorities, including, but not limited to:
◦ Approved Actuary support in quarterly, annual, and ad hoc regulatory filings.
◦ Design processes and perform sensitivities, stress tests, cash flow projections to support key business partners (e.g., Risk Management, U.S. Cash Flow Testing)
◦ Assist in the onboarding of new transactions, including establishing reinsurance settlements and reporting, and setting policies and controls.
• Support vision and cultural value of TFG
◦ Foster collaboration between Actuarial and other key business partners including Corporate Development, Enterprise Risk Management, Finance, and ALM.
◦ Establish and maintain good working relationships with auditors, regulators and other external parties, including being an effective advocate for TFG and representing TFG in industry groups and events.

Qualifications:

• Bachelor's degree in mathematics, statistics, actuarial science, or related field
• Associate of the Society of Actuaries (“ASA”) or near ASA
• Minimum of 3 years of work experience in insurance or finance, with prior experience in actuarial valuation, modeling, liability management, and/or risk management
• Deep knowledge on General Account liabilities, in particular Fixed Indexed Annuity, Multi-year Guaranteed Annuities and/or Payout Annuities, is strongly preferred
• GGY AXIS or other actuarial modeling software experience is strongly preferred
• Knowledge of the U.S. Asset Adequacy Testing (Cash Flow Testing), EBS, and/or asset modeling (including asset-liability interactions) is preferred.
• Strong technical skills and attention to detail for the purposes of reviewing model results, improving processes, and solving complex problems.
• Aptitude for technical software and coding, including proficiency in Excel, VBA, Python, R and Microsoft Fabric
• Excellent communication and interpersonal skills, with the ability to collaborate with various stakeholders at all levels within the organization as well as external partners.
• Understand interdependencies and workflow between functions and geographies within a group framework
• Self-reliant and capable of quickly learning new concepts, thinking creatively and crit