Life and Annuity Modeling Actuary

 

 

 

Job Posting

The responsibility of the Life and Annuity Modeling Actuary is to identify and analyze potential modeling process enhancement opportunities for the company’s actuarial valuation and cash flow testing AXIS models, with a focus on business subject to Principles Based Reserves (PBR).   Successful performance of this position will ensure that regulatory requirements are followed, forecast cashflows are materially consistent with the business and scenario being modeled within regulatory constraints, and results are accurately reported.  This will allow the Valuation actuaries to focus on their production responsibilities, as well as facilitate the model change management process for the Modeling team.

 

As this position includes educating oneself in various organization areas that impact modeling and exploring new ideas and approaches, it is expected that substantial exchange is required with not only the person’s manager but with other subject matter experts within the organization.   
 

This position is available onsite at our League City, TX , Galveston, TX and/or Houston, TX offices.

 

What You’ll Do: 

• Developing a working knowledge of regulatory requirements underlying the models,
• Becoming proficient in the model structure, inputs, assumptions, calculation methodologies for liability and asset cash flows, and outputs, as well as its operating procedures,
• Becoming familiar with the existing governance processes and controls,
• Assess existing modeling process and components for enhancement potential by
• Researching industry standards, methodologies and available data, and
• Working with organizational subject matter experts (e.g., Experience Studies, Pricing, Underwriting) to better understand underlying model strengths and weaknesses.
• Estimate enhancement impact materiality and propose implementation solutions,
• Educate key stakeholders on model sensitivity to varying demographic attributes, product features, asset selection and key assumptions.
• Developing VM-22 modeling methodology and supporting assumptions and margins, as well as supporting implementation efforts,
• Present findings and proposals to key stakeholders both verbally and in writing.
• Managing and delivering on multiple simultaneous projects of varying priorities and timelines.

 

Required Qualifications: 

• A  bachelor’s degree in mathematics, statistics, economics, or a related field with a  strong mathematical background is  required,
• Associate of the Society of Actuaries (ASA) or Fellow of the Society of Actuaries (FSA) designation,
• At  least six years of actuarial experience in life insurance or annuities,
• At  least two years  of model development experience  using the Moody’s AXIS actuarial modeling software
• Demonstrated attention to detail and successful project management experience in a fast-paced, evolving business environment with competing priorities.

Preferred Qualifications: 

• Model development experience in cash flow testing, VM-20 or VM-21 Moody’s AXIS models,
• Assumptions and margins development experience based on company experience,
• Experience in modeling both life and annuity products.

 

 

 

 

American National offers eligible employees and their families medical, dental, vision, and basic life insurance. Employees are able to enroll in our company’s 401k plan. Employees also receive annually a bank of paid time off and paid holidays.   We aspire to see people for what they bring to our corporate culture by supporting an inclusive work environment, including an emphasis on a healthy work-life balance, development opportunities, and a casual dress code.

 

American National is an established, stable, and successful multi-line insurance corporation that has provided financial strength and a sense of security to employees, customers and business partners since 1905.  With focus on our organization’s values and cultural richness: Financial Strength, Integrity, Respect, Service and Teamwork (FIRST) and Agility, Collaboration, and Engagement (ACE) we continue to pursue our vision to be a leading provider of financial products and services for current and future generations.

 

Hiring Practices

The preceding job posting was designed to indicate the general nature and level of work performed by employees assigned to this position. It is not intended to be interpreted as a comprehensive list of all duties, responsibilities, and qualifications.  We are dedicated to building a diverse, inclusive, and authentic workplace, so if you’re excited about this role, but your past experience doesn’t align perfectly with the job qualifications, we still encourage you t