Validation Manager - Associate Actuary

Ameritas

Are you a Fellow or Associate of the Society of Actuaries with a passion for controls and validation of actuarial values and processes? Would you like an opportunity to provide a vital function for the company, helping to ensure accuracy of financial results and other information for senior management; while also positioning yourself for further advancement in your career? If so, Ameritas has an exciting opportunity for you!

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 customers 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.

We take great pride in the work we do every day. We have an associate driven culture where employees know that goals and objectives that are set to be achieved; they understand the business strategy and they find new ways to make the company successful. They improve products, processes and services each day to increase the productivity of the enterprise. We rely on our associates for their energy, talents and commitment to give their very best.

Ameritas is looking for our next Associate Actuary to join our Corporate Actuarial team. This position is the department subject matter expert around actuarial controls and validation and is responsible for independently testing actuarial models, processes and other values as reported in the company's financial statements or to senior management, regulators, rating agencies, or auditors. This detail oriented, results driven individual will assume a lead role in developing actuarial testing tools and processes, reviewing actuarial controls, and performing model validations. This key position will liaison with members of Corporate Actuarial as well as other actuarial areas, Accounting & Finance, Internal Audit, external auditors and regulators.

Essential Functions:

Model Validation:

* Models to be reviewed may include actuarial projection systems, valuation systems, spreadsheets, or other tools
* Includes validation of statutory, GAAP, and tax values
* Includes individual life, annuity and disability income business, as well as group retirement plans
* Perform independent reviews of single policies and aggregated information:

* Includes reserves and related financial statement values in addition to projected financial data used for asset adequacy analysis, ORSA, financial forecasts, and other purposes
* May include static, dynamic, back-testing, statistical and other methodologies
* Testing of policy values and compliance with applicable regulations, product specs, and assumption documentation
* Track data flows from inputs through reported values

Corporate Actuarial Controls Manager:

* Review existing actuarial controls:

* Test their execution
* Test their effectiveness
* Propose changes as needed
* Proactively manage the actuarial aspects of the control framework
* Documentation:

* Maintain department actuarial controls documentation, including the Corporate Actuarial Model Audit Rule (MAR) document
* Document all actuarial testing performed
* Communicate findings and results to management
* Monitor industry developments and evolving practices related to model validation and controls
* Develop actuarial testing tools that can be used on an ongoing basis and adjusted for new products or policies

Other Functions:

* Manage at least one actuarial associate and lead that associate in their development
* Test experience studies performed by Corporate Actuarial
* Coordinate validation and control efforts with the Corporate Actuarial data manager and other department leadership
* Support internal audits, external audits, and state exams
* Other projects as assigned

Required Knowledge and Skills:

* Associate or Fellow of the Society of Actuaries designation.
* Member of the American Academy of Actuaries.
* Bachelor degree in Actuarial Science, Mathematics, Statistics or a related field.
* Seven or more years of actuarial experience.
* Experience in individual life, individual annuity, or individual disability income products preferred.
* Advanced knowledge of insurance products and concepts, actuarial theory and techniques, and regulation of the insurance industry.
* Understanding of advanced mathematical and statistical concepts.
* Ability to work effectively both independently and as part of a team.
* Demonstrates leadership and initiative in a professional manner.
* Strong analytical, problem solving, written and oral communication, and organizational skills.
* Experience with Microsoft Office.
* Ability to multi-task and switch back and forth between projects as needed.
* Willingness to learn new software tools and packages.

* Ability to accurately perform detailed calculations with a high-level of understanding.
* Ability to clearly and thoroughly document assumptions, decisions, processes and other work performed.

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

Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled

Job ID: 5475

Posted 25 days ago

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