Responsibilities:
- Managing inforce projections supporting all regulatory and business requirements for the following purposes: Business plan, Embedded Value, Cash flow testing and RBC, Insurance Capital Standards, Closed Block dividend management
- Ensuring accuracy and completeness of all projections by executing adequate controls, producing analysis and review metrics, and ensuring documentation is accurate and complete
- Developing and maintaining advanced analytics supporting the review of the projections, which may include: Analyzing period-over-period projection results at a company and product level; explaining, documenting, and communicating changes, preparing dynamic validations of projection models at a company and product level, supporting other areas of the company when questions arise about actual experience, reinsurance notices, possible acquisitions, etc., developing tools to support analysis of results more effectively, including implementation of new technology such as visual analysis software
- Leading the effort to calculate Value of New Business on a regular basis, ensuring effective controls and documentation are in place, performing analysis of results, and explaining period-over-period changes.
- Supporting Appointed Actuaries with documentation requirements related to Asset Adequacy Testing and RBC.
- Providing insight and expertise regarding the risks of the block (sensitivity of the block to lapse, mortality, etc.) and understanding how policyholder behavior is impacted by the economic environment and how that is reflected in the models.
- Manage ad hoc projection requests from Accounting, Finance, and Risk areas.
- Collaborating with the Traditional Life Valuation team to set priorities and expectations, manage shared resources, and improve the valuation and projection models.
- Collaborating with the Universal Life Projections team on shared model efficiencies, controls, and reporting.
Qualifications:
- 4+ years of actuarial experience with focus on projections and financial reporting
- Strong knowledge of Statutory and U.S. GAAP valuation methodologies for Life products
- Actuarial Fellowship (FSA) or Associate (ASA) designation and Member American Academy of Actuaries (MAAA)
- Excellent verbal and written communication skills
- Able to communicate complex actuarial topics to both actuaries and non-actuaries
- Experience working in a collaborative environment
- Experience with asset/liability modeling preferred
- Experience with life and annuity valuation/projection software is a requirement, with PolySystems experience preferred
Protective's targeted salary range for this position is $120,000 to $180,000. Actual salaries may vary depending on factors, including but not limited to, job location, skills, and experience. The range listed is just one component of Protective's total compensation package for employees.
This position also offers additional incentive opportunities [through an annual incentive based on individual and Company performance] OR [through cash compensation as part of a sales incentive plan (SIP).
Working at
Protective
Protective is a leading insurance and financial services company dedicated to providing individuals and businesses with peace of mind and financial security. With a rich history that spans over a century, Protective has earned a strong reputation for its commitment to customer-centric solutions. As an actuary at Protective, you'll be part of a dynamic team that plays a crucial role in assessing and managing risks. Actuaries at Protective utilize advanced statistical models and data analysis techniques to evaluate risks, develop pricing strategies, and ensure the financial stability of the company's insurance products. Protective offers a diverse range of insurance solutions, including life insurance, annuities, and asset protection products. Actuaries collaborate with cross-functional teams to analyze data, monitor trends, and develop innovative solutions that meet the evolving needs of customers. Professional growth is highly valued at Protective, and the company provides actuaries with ongoing training and development opportunities. Actuaries have the chance to enhance their skills and stay at the forefront of industry advancements while contributing to the company's success. Join Protective's esteemed actuarial team and embark on a fulfilling career where you can make a meaningful impact on the financial well-being of individuals and businesses. Enjoy competitive benefits, a supportive work environment, and the opportunity to shape the future of the insurance industry.