Director, Actuary Modeling

About Kuvare

Kuvare is on a mission to serve hardworking consumers overwhelmed by the complexities of retirement and is built from the ground up to do so. Our unified financial hub protects the retirement of everyday Americans and the distributors, carriers and investors that serve them. We create life insurance and annuity products that protect consumers’ retirements, and are simplified for distributor partners and financial professionals to sell and service.
Kuvare family of companies:
Retail Annuity and Life Insurance Solutions:
- United Life Insurance Company
- Guaranty Income Life Insurance Company
- Lincoln Benefit Life
Institutional Insurance:
- Kuvare Life Re
Bespoke Insurance Solutions:
- Ignite Partners

About the role

The Actuarial Directors are part of the Actuarial team. The team covers an array of specialties including Life and Annuity Valuation, Modeling and Forecasting, Pricing & Product Management, Asset Liability Management, and Enterprise Risk Management.  The actuarial team hopes to continue to develop Fellows in the Society of Actuaries. As a director, it can be expected to have an area of specialization but will also have opportunities to work across specialty areas.  This recognizes that development does not end with attainment of Fellowship, or similar levels actuarial development.  Supervision of actuarial students (either interns, associates, or senior associates) or other positions on either a project level or on a full-time reporting basis is possible.

What you'll do

As a Director on the Actuarial team, your day-to-day activities will be dependent on the function you are supporting and are expected to change throughout your employment, although such changes may be separated by several years.  Additionally, you may oversee Senior Actuarial Associates, Actuarial Associates and possibly Actuarial Interns on technical model aspects. 

Duties and responsibilities include, but are not limited to

Valuation tasks

•         Prepare, monitor, and analyze reserve trends monthly on GAAP, statutory, and tax accounting bases

•         Develop management reporting for existing business

•         Assist/Manage preparation of Statutory Annual and Quarterly Statements

•         Organize and prepare Valuation results for management review

•         Lead efforts or assist in gathering information and analysis for external auditor inspections

•         Develop methodology memos, change memos, management presentations on topics as needed

Pricing & Product Development

• Organize and Maintain AXIS pricing model(s) to provide robust pricing and new business value analyses
• Support rate setting and other non-guaranteed elements (NGE) process; perform analysis to support business decisions, signoff, and implementation
• Monitor emerging product experience, manage actuarial assumptions and identifying any new risks
• Coordinate and lead cross-functional initiatives related to product development and reporting
• May Oversee Life and/or Annuity product illustrations; provide support to Customer Service on exemptions and escalated requests
• Develop relationships with internal and external distribution (sales) stakeholders
• Manage projects and stakeholders to promote timely and effective progress on key initiatives
• Responsible for designing and pricing of new products
• Support Reinsurance efforts for risk sharing, analysis of existing and potential treaties, developing relationships with counterparts at reinsurers
• Support filing of new products
• Ensure products are built appropriately in administration system and validating test cases

Product Management tasks

•     Produce, present, and improve monthly business monitoring reporting

•     Provide insight and analysis to inforce experience trends

•     Oversee monthly crediting rate package and process

•     Coordinate with ALM and System on data and result analysis

•     Assist in the development and analyze annual Illustration Actuary testing models

•     Review special policy illustration requests

•     Assist on Product related projects and requests

•     Develop management presentations on topics as needed.

Modeling and Forecasting tasks

•         Build and review model inputs to support financial projection capability

•         Execute and monitor model projections including troubleshooting model calculations

•         Analyze model output ensuring accuracy with intended model purpose

•         Build and maintain tools to assist in result analysis.

•         Develop management presentations on topics as needed.

•         Oversee Senior Actuarial Associates, Actuarial Associates and possibly Actuarial Interns on technical model aspects.

Risk and Investments tasks

•         Update quarterly stress testing results and compare versus risk appetite and limit

•         Monitoring investment portfolio to ensure compliance with guidelines and limits

•         Monitor asset and liability duration, report mismatches outside of tolerance

•         Prepare weekly hedging file, monitor hedge position and results

•         Where guidelines or limits are breached, recommend alternative remediation plans as needed

•         Develop management presentations on topics as needed.

Ancillary Responsibilities:

•         Assess reasonableness of reserves as new blocks of business are acquired.

•         Assess product features and determine product management strategies as new blocks of business are acquired.

•         Build efficiencies through programming solutions in all aspects of model input and output data manipulation.

•         Assist in the development and production of the Own Risk and Solvency Assessment.

•         Assess the impacts of an alternate investment or reinvestment strategy and recommend changes as needed.

•         Assist in the development of optimization macros and recommend methods to improve hedging and ALM efficiency.

Qualifications

Experience

• BS in Actuarial Science, Mathematics, Finance, Statistics, or related area
• FSA designation or near FSA designation
• A minimum of 5 years of relevant full-time insurance actuarial experience is expected.

Skills/Competencies

• Strong analytical and problem-solving skills
• Strong business and collaboration skills
• Proficiency in MS Office (Excel, Access, Word, PPT)
• Demonstrated ability with Actuarial software is a plus (e.g., AXIS, MG-ALFA, ARCVal)
• • Mandatory for a Modeling role
  • AXIS skills strongly preferred for Pricing & Product Development role

·       Excellent verbal and written communication skills

·       Flexible can-do attitude, willing to help out with all types of tasks in an ever-changing environment

·       Passion to learn new things and design new solutions

·       Work both independently and as part of a team

Physical Demands

• Normal office working environment
• Occasional evening and weekend hours to meet deadlines
• Ability to type / perform data entry
• Ability to read from a computer screen and paper reports
• Express ideas and otherwise communicate with the spoken word