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Associate Actuary - Annuity Projections (Hybrid)
ProtectiveWork From Home, United StatesRemotefull_timeVerifiedPosted 3 Jan 2023
💰 $130,000/yr($72,000/yr – $130,000/yr)
About the role
The work we do has an impact on millions of lives, and you can be a part of it.We help protect our customers against life’s uncertainties. Regardless of where you work within the company, you’ll be helping provide protection and peace of mind when our customers need it most.
We are currently seeking an Associate Actuary - Annuity Projections to join our modeling team. The selected candidate will be part of a team responsible for in force projection initiatives related to Protective’s life and annuity business that is valued and projected on PolySystems actuarial software. This role will have heavy interaction with the product-specific projection and valuation teams.
Protective Life Corporation was founded 1907 in Birmingham, AL and offers a broad range of life, specialty insurance and investment products. We are a company supported by values. Our growth and success can be largely attributed to our ongoing dedication to serving people and doing the right thing… for our employees, for our distributors, for the communities in which we operate and most importantly, for our customers. We have approximately 3,000 employees located in offices throughout the United States.
Responsibilities:Perform projections and advanced analytics to support all regulatory and business requirements, including some or all of the following: o Business plano Embedded Valueo Annual cash flow testing and RBC exerciseo International Capital Standards
Perform projections and advanced analytics related to in force business, which may include: o Analysis of period over period projection results at a company and product level, explaining, documenting and communicating changes.o Dynamic validations of projection models at a company and product level.o Support other areas of the company when question arise about actual experience, reinsurance notices, possible acquisitions, etc.o Develop tools to support analysis of results more effectively, including implementation of new technology like visual analysis software.
Provide modeling expertise, testing, and analysis for implementing new functionality in models, which may include dynamic assumptions, predictive models, and future point stochastic modeling.
Perform Value of New Business calculation to support Embedded Value reporting, including: o Working with product-specific projection leaders to build well-defined, controlled processes and procedures for calculating VNB each period.o Apply analytical tools to enable better understanding of VNB and comparisons to Corporate Goals VNB.o Create reports, memos and documentation needed to effectively communicate VNB results and explain changes to period over period.
Qualifications · Ideal candidate will be a near-ASA or recent ASA with 3-4 years of actuarial experience related to asset/liability modeling, pricing or financial reporting.· Experience with PolySystems is a plus, but not required.· Knowledge of Statutory and U.S. GAAP valuation methodologies is a plus.· Excellent verbal and written communication skills.· Ability and curiosity to drill into questions and issues to gain full understanding in order to share insights and explanations.· Able to work well in a collaborative environment.· Experience with SQL and visual analytics software like Power BI or Tableau is a plus. The ability to learn and adapt to these programs is a requirement.
This position also offers additional incentive opportunities through an annual incentive based on individual and Company performance.
Employee Benefits: We aim to protect our employees' wellbeing through a broad benefits offering. For example, we protect physical wellbeing through health, dental and vision insurance. We protect mental wellbeing through mental health benefits and an employee assistance program. We protect time away from work with a variety of paid time away benefits (e.g., paid time off, paid parental leave, short-term disability, and a cultural observance day). We protect financial wellbeing through contributions to healthcare accounts, a pension plan, and a 401(k) plan with Company matching. All employees are encouraged to protect their overall wellbeing by engaging in ProHealth Rewards, Protective’s platform to improve wellbeing while earning cash rewards. Eligibility for certain benefits may vary by position in accordance with the terms of the Company’s benefit plans.
Diversity and Inclusion: At Protective, we are committed to providing an inclusive culture where all employees are able to fully cont
We are currently seeking an Associate Actuary - Annuity Projections to join our modeling team. The selected candidate will be part of a team responsible for in force projection initiatives related to Protective’s life and annuity business that is valued and projected on PolySystems actuarial software. This role will have heavy interaction with the product-specific projection and valuation teams.
Protective Life Corporation was founded 1907 in Birmingham, AL and offers a broad range of life, specialty insurance and investment products. We are a company supported by values. Our growth and success can be largely attributed to our ongoing dedication to serving people and doing the right thing… for our employees, for our distributors, for the communities in which we operate and most importantly, for our customers. We have approximately 3,000 employees located in offices throughout the United States.
Responsibilities:Perform projections and advanced analytics to support all regulatory and business requirements, including some or all of the following: o Business plano Embedded Valueo Annual cash flow testing and RBC exerciseo International Capital Standards
Perform projections and advanced analytics related to in force business, which may include: o Analysis of period over period projection results at a company and product level, explaining, documenting and communicating changes.o Dynamic validations of projection models at a company and product level.o Support other areas of the company when question arise about actual experience, reinsurance notices, possible acquisitions, etc.o Develop tools to support analysis of results more effectively, including implementation of new technology like visual analysis software.
Provide modeling expertise, testing, and analysis for implementing new functionality in models, which may include dynamic assumptions, predictive models, and future point stochastic modeling.
Perform Value of New Business calculation to support Embedded Value reporting, including: o Working with product-specific projection leaders to build well-defined, controlled processes and procedures for calculating VNB each period.o Apply analytical tools to enable better understanding of VNB and comparisons to Corporate Goals VNB.o Create reports, memos and documentation needed to effectively communicate VNB results and explain changes to period over period.
Qualifications · Ideal candidate will be a near-ASA or recent ASA with 3-4 years of actuarial experience related to asset/liability modeling, pricing or financial reporting.· Experience with PolySystems is a plus, but not required.· Knowledge of Statutory and U.S. GAAP valuation methodologies is a plus.· Excellent verbal and written communication skills.· Ability and curiosity to drill into questions and issues to gain full understanding in order to share insights and explanations.· Able to work well in a collaborative environment.· Experience with SQL and visual analytics software like Power BI or Tableau is a plus. The ability to learn and adapt to these programs is a requirement.
This position also offers additional incentive opportunities through an annual incentive based on individual and Company performance.
Employee Benefits: We aim to protect our employees' wellbeing through a broad benefits offering. For example, we protect physical wellbeing through health, dental and vision insurance. We protect mental wellbeing through mental health benefits and an employee assistance program. We protect time away from work with a variety of paid time away benefits (e.g., paid time off, paid parental leave, short-term disability, and a cultural observance day). We protect financial wellbeing through contributions to healthcare accounts, a pension plan, and a 401(k) plan with Company matching. All employees are encouraged to protect their overall wellbeing by engaging in ProHealth Rewards, Protective’s platform to improve wellbeing while earning cash rewards. Eligibility for certain benefits may vary by position in accordance with the terms of the Company’s benefit plans.
Diversity and Inclusion: At Protective, we are committed to providing an inclusive culture where all employees are able to fully cont
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