Actuarial Consultant - A&H Modeling (Long Term Care) at CNA
A unique opportunity to build a new reserving model for CNA's Long Term Care business to comply with the new Long Duration Targeted Improvements (LDTI) accounting standard. This role will also support the development of future state management reporting processes. You will collaborate daily with a cross functional team of actuaries, accountants, finance and data science professionals. A successful candidate will be technically strong, detail-oriented, naturally curious and motivated by the opportunity to create something new that hasn't been done before.
Essential Duties & Responsibilities
- Collaborates with and supports team members in the development, testing, and validation of CNA's Moody's Analytics AXIS model to comply with the new LDTI accounting standard (ASU 2018-12).
- Partners with Moody's Analytics to debug AXIS and develop CNA specific solutions.
- Works collaboratively with other teams to create and design the future state of management reporting to explain reserve movements under LDTI.
- Develops new reserving valuation processes to comply with LDTI that are automated, well organized, repeatable and auditable.
- Analyzes financial, statistical, and mathematical data and performs actuarial calculations to influence and drive business decisions.
- Trains CNA's Long Term Care division on new processes and the impact of LDTI.
- May perform additional duties as assigned.
Director or above
Skills, Knowledge & Abilities
- Strong knowledge of core functions of an insurance company, general insurance, actuarial and statistical concepts.
- Advanced actuarial technical expertise and product specific knowledge.
- Strong interpersonal and communication skills. Ability to effectively interact with all levels of CNA's internal and external business partners.
- Strong analytical, critical thinking and problem-solving skills, with the ability to effectively resolve complex situations and issues.
- Solid project management, organization, and planning skills with the ability to manage multiple projects.
- Ability to exercise independent judgment and make critical business decisions effectively within scope of authority based on data analyses and reviews.
- Ability to solve issues with a sense of urgency; utilizes and manages the available resources to make informed decisions and achieve superior results.
- Ability to creatively and effectively manage through ambiguous and challenging problems, leads through change and takes appropriate levels of risk.
- Ability to comprehend business data and metrics and to further articulate analyses of actuarial data within internal reports.
- Solid knowledge of Microsoft Office Suite, data programing language (R, Python or Alteryx) and other business-related software systems, including processing systems and applications. Knowledge of Moody's AXIS Actuarial software a plus, but not required.
Education & Experience
- Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Economics or equivalent discipline.
- Typically a minimum of three to five years of related work experience.
- Attained or actively pursuing Associate of the Society of Actuaries (ASA) designation