VP, Actuarial, Individual - Annuity Products

Ameritas

Lincoln, NE Management & Operations
At Ameritas, fulfilling life is what we do daily. We continuously strive to help our customers and employees enjoy life at its very best by reducing uncertainty, helping grow assets and protecting what is most cherished. We're here to help people put worry behind and the future ahead and help enable a life that's rich in family, happiness, health and financial security. When lives are fulfilled, our mission is fulfilled.

Ameritas Life Insurance Corp is seeking a VP, Actuarial, Individual Annuity Products to provide leadership for the annuity product development team responsible for new business profitability, design, pricing, implementation and launch of new products in order to achieve corporate strategy, profit targets and sales growth objectives. Management of the product portfolio involves balancing marketability and competitiveness with customer needs/expectations, distribution channel needs and characteristics and corporate profitability objectives. Additional considerations include market conditions, expense parameters, cycle time requirements, administrative implications, and implementation costs.

Essential Functions:

Design and Development

* Manage the annuity product development team and process for new business profitability, design, pricing, implementation and launch of new products. Partner with Risk Management & Investments to establish crediting strategies and spread expectations. Deliver and maintain products that support the overall corporate strategy, profit and sales objectives.
* Collaborate with key Field Advisors, Division Senior Management, Sales & Marketing and other significant constituents to develop and evaluate new annuity product ideas and establish annuity product priorities. Manage and direct the process to secure product approval from senior leadership including a concept overview, cost/benefit analysis, business specifications, profit and sales expectations and risks.
* Foster an innovative culture that embraces breakthrough concepts, strategies, and distinctive annuity products to achieve and sustain competitive advantage and profitable growth. Develop and manage a support staff with capabilities to generate and evaluate new ideas as well as the technical capabilities to effectively evaluate the risks and profit potential.
* Coordinate with multiple functional teams to evaluate the ongoing product line resource capacity to ensure that the strategic objectives of the product portfolio are being met. Continually work to ensure product design, development, and management processes support the expense, cycle time, and delivery capabilities required to meet corporate objectives.

Profitability

* Position is accountable for new business profitability as measured by corporate objectives (e.g. statutory IRR, profit margin, GAAP ROE, and other metrics). Individual is responsible for maintaining the capability to effectively evaluate the profitability of the new business product portfolio and collaborating with Sales and Product Management to monitor and manage the profitability of each product and the overall product mix.
* Partner with Product Management unit and Competitive Intelligence to monitor product spreads, overall profitability and competitiveness to recommend crediting strategies and new business rates. This includes all non-guaranteed elements including fixed rates, index linked parameters and guaranteed income payouts related to products currently being marketed.
* Develop and maintain models to price all new products being marketed by partnering with the modeling team as well as the product management team on assumptions. Ensure that such product models are suitable for handoff of in-force modeling.

Collaboration

* Collaborate with distribution on strategies to manage product mix
* Partner with advanced sales to develop and promote sales concepts
* Collaborate with competitive intelligence team to establish product strengths and weakness vs. key competitors in the development phase as well as product promotion and positioning with the field
* Handle exception requests related to sales.
* Negotiate reinsurance treaties for new products and incorporate impact of such treaties in product pricing

Required Knowledge and Skills:

* Attainment of Fellow of Society of Actuaries and Member of the American Academy of Actuaries.
* 10-15 years of experience as a practicing actuary
* Must have a proven track record of application of actuarial principles, pricing methodology, and assumption development.
* A minimum of 8 years experience in a product development role working with life and/or annuity products. Experience may have been gained in the areas of investments, asset/liability management, Sales or marketing, technical roles such as valuation, finance/accounting/auditing, or risk management.
* Experience managing complex and multi functional teams.

We are Ameritas: proud to say we're in the business of fulfilling life.

Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled

Job ID: 3571

Posted about 2 months ago

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