We are seeking an experienced Actuary for a leading Fortune 500 insurance holding company.
This position will be responsible for the development and oversight of loss reserving and other valuation models that are used in conjunction with all loss reserving methodologies and financial forecasting capabilities relating to the Controllership, Financial Planning and Analysis ("FP&A"), Risk and Capital Management functions. This position will also work closely and in conjunction with the respective business leaders within those functions within the Mortgage Insurance - U.S. business.
Responsible for coordinating and providing the annual statement of actuarial opinion and certification.
Responsible for ensuring that all liability valuations for the business and all related legal entities comply with all applicable compliance and regulatory requirements, including actuarial professional standards and requirements.
Review deferred amortization cost ("DAC") recovery and premium deficiency analyses.
Create and maintain policies and procedures for actuarial valuation and related financial. forecasting and projection work across the business, ensuring preparation and maintenance of applicable documentation for major assumptions and conclusions reached as a result of all actuarial-related valuation and projection processes.
Ensure consistency and quality of processes across the business for all actuarial-related work. In addition, ensure all processes contain appropriate controls, including peer reviews, with full accountability for results.
Work with the FP&A and Risk groups to develop insightful projections of the business model for all direct and reinsurance planning transactions.
Utilize appropriate economic capital models to enable stronger risk and capital management capabilities across the business
Participate in product, financial planning, capital management and risk reviews for the business, as appropriate.
Monitor and respond to mortgage insurance regulatory and industry-related issues in conjunction with Company's government relations department.
Champion talent development programs across the organization to build actuarial-related technical and leadership capabilities that meet the requirements of a best-in-class organization.
Work with Controllership to manage relationships with outside actuarial consultants and external actuarial auditors.
Job Requirements: REQUIREMENTS
Bachelor's degree in actuarial science, mathematics or a related field.
Demonstrated leadership and management capabilities
Working knowledge of regulatory and rating agency capital requirements for P&C insurance companies
Broad knowledge of U.S. property and casualty ("P&C") insurance, along with strong working knowledge of U.S. GAAP and applicable regulatory and statutory financial reporting requirements for P&C companies including those for reinsurance-related financial reporting requirements.
7+ years actuarial experience in progressively larger roles
Working knowledge of statutory and tax valuation requirements for domestic P&C insurance companies.
ACAS or ASA and MAAA, FCAS or FSA preferred
Broad knowledge of fair value concepts and capital asset pricing methodologies and actuarial appraisal techniques preferred.
Working knowledge of Economic Capital and Embedded Value models and associated analytical techniques preferred.