Legal & General America

  • Sr Assistant Actuary, Corporate Actuarial

    Job Locations US-MD-Frederick
    ID
    2018-1895
    # of Openings Remaining
    1
    Category
    Actuarial
  • Overview

    You will be responsible for the modeling and system development efforts supporting the implementation of IFRS 17 and PBR / VM-20 at Legal & General America as a core member of the IFRS and PBR Development team. This highly collaborative team is committed to building and maintaining the actuarial processes needed for these new financial reporting standards and is looking for the additional expertise you will bring to the team.

     

    If you succeed in a project-based environment, are able to deliver solutions to new and complex challenges, communicate well to a broad and diverse group of stakeholders, and enjoy gaining expertise in evolving topics, this may be the role for you.

    Responsibilities

    Essential Responsibilities

     

    • Support the team in addressing all work and ad-hoc requests needed for the delivery of IFRS 17 and PBR / VM-20 by the respective effective dates.
    • Develop and maintain our “One Model” strategy in GGY-AXIS. This new actuarial model will be used for a variety of purposes, including Valuation, Financial Reporting, Financial Planning & Analysis, EC, Cash Flow Testing, and others as needed. Ensure implementation of models complies with actuarial standards and guidelines.
    • Gain expertise on the financial reinsurance deals for our Term and UL products and serve as the team’s expert on these deals, as well as a liaison among all the key stakeholders during deal implementation stage. Help coordinating between different key stakeholders (Finance, Valuation and Projection, Pricing, and internal and external parties involved in the deals) and field actuarial questions and requests.
    • Review and test models and systems to ensure that they are appropriately built to reflect product designs, financial reinsurance deals, the risk of business, and fit for the purposes of all the modeling requirements.
    • Ensure model control is maintained around production models, to prevent unauthorized changes and ensure integrity of model results. Maintain detailed documentation of all changes made to models, including impacts under key reporting bases and evidence of management approval.
    • Identify and implement process improvements, including automation of manual tasks where possible, to increase efficiency and transparency while minimizing the risk of errors.
    • Partner with Model Development team to establish appropriate model structures, plan validation and merge activities, and support training and education.
    • Other duties as required.

     

     

    Qualifications

    Education

    • BS/BA in Actuarial Science, Mathematics, Statistics, Economics, or related field
    • Associate, Society of Actuaries (FSA preferred)

     

    Experience/Knowledge

    • 7 years of life insurance/actuarial experience.
    • Working experience of term life product statutory reserving required.
    • Model development or modeling – GGY-AXIS experience is required.
    • Experience in multiple accounting methods (Statutory, GAAP, Tax, & IFRS) preferred.
    • Working experience of financial reinsurance deals a plus

         

    Skills

    • Actuarial software and modeling skills – GGY-AXIS Regular life and UL Module experience is a key requirement.
    • Spreadsheet and database capabilities (Excel, MS Access, VBA, SQL).
    • Strong actuarial analytical skills and problem solving ability.
    • Proficient written and oral communication skills.
    • Ability to multi-task in a deadline-oriented environment.

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