At Legal & General America, we aim to make a positive difference in the lives of our customers, partners, colleagues, and the communities in which they live.  As a recognized market leader of term life insurance, we’re working to transform our business through innovation and technology to provide products and solutions that help American families secure their financial futures.

We are a future-focused company, passionate about what we do and how we do it. This means working with pace and energy to reach our goals and challenging ourselves to achieve more.  We strive to create a unique environment where balance between work and life is possible. Our employees' passion, dedication and hard work, as well as our career development opportunities, benefits, and employee activities contribute to our positive workplace culture.

The Senior Assistant Actuary is a member of the IFRS Valuation team, responsible for production, analysis, and review of IFRS reserves and related financial information (including Best Estimate Liabilities (BEL), Risk Adjustment (RA) and Contractual Service Margin (CSM)) for Legal & General America and affiliated entities with a focus on its pension risk transfer (PRT) business. In this role, you will be viewed as a subject matter expert in valuation processes and will coordinate with both internal and external stakeholders to maintain, enhance, and modify as necessary, those processes. Additionally, you will perform independent research to design, recommend and implement significant and sophisticated changes to relevant processes to reflect specific requirements with respect to the pending transaction integrating LGA with its new parent company Meiji Yasuda Life.

1. IFRS valuation processes

• Comprehensive understanding of the underlying reporting framework and relevant concepts (e.g., Best Estimate Liabilities (BEL), Risk Adjustment (RA) and Contractual Service Margin (CSM), etc.)
• Comprehensive understanding of individual and team responsibilities regarding all monthly, quarterly, and annual valuation requirements, and managing and performing assigned processes independently within specified deadlines. Responsibilities may include directing the work of others.
• Valuation oversight for the development and calculation of the IFRS Valuation Interest Rate (VIR). This will include the review and analysis of assets used in the VIR, preparation of materials documenting the VIR for external and internal consumption, and coordination with the key stakeholders over these processes. Additionally, acting as the team’s subject matter expert for Investment Variance (IV) and Operating Profit analyses for LGA’s pension risk transfer (PRT) business working directly with other departments and company leadership for these reviews.
• Valuation oversight for the modification and implementation of IFRS reporting processes to reflect the specific requirements with respect to the pending transaction integrating LGA with its new parent company Meiji Yasuda Life and disentangling LGA from L&G Group.
• Understanding of Moody’s AXIS models and associated SQL processes to produce reserves and related financial metrics (e.g., BEL, RA, CSM, Stress & Scenario Testing (SST), etc.) according to IFRS requirements and actuarial principles. Performing model evaluations as required. Reviewing results and carrying out relevant analyses. Compiling information for regulatory disclosures (e.g., schedules and exhibits) as required.

2. Documentation & stakeholder engagement

• Maintaining and enhancing documentation of valuation processes, procedures, and controls
• Producing management information regarding reserves and related financial metrics, and presenting analysis and review results to relevant stakeholders (including nontechnical audiences)
• Preparing materials for internal and external audit requests

3. Control environment & process improvements

• Ensuring continuing model appropriateness and accuracy of IFRS systems, and compliance with applicable control frameworks
• Proactively identifying areas for process improvement (e.g., process flows, actuarial analysis & review methodologies, etc.) and implementing strategic solutions with outreaching impacts on the business
• Engaging directly with key stakeholders across LGA Finance, LGA IT, and external parties for making changes to processes and controls impacting the IFRS valuation

4. Other duties

• Complying with relevant professional development requirements and guidelines
• Leading and directing the work of others on the team as necessary
• Promote company culture by demonstrating our core behavioral competencies: Collaborative, Purposeful, and Straightforward
• Proactively supporting additional / cross-functional projects as required

Education
   BS/BA in Actuarial Science, Mathematics, Statistics, Economics, or related field
   FSA, Advancing ASA or Career ASA with 12+ years experience

Experience/Knowledge
   6+ years of pension risk transfer/life insurance/actuarial experience, including valuation
   Understanding of life insurance products and related risks; preferred experience with PRT business
   Detailed knowledge of IFRS17 and/or US GAAP reporting frameworks
   Experience maintaining controlled production processes

Skills
    Strong actuarial analytical skills and problem solving capabilities
    Actuarial software skills (Moody’s AXIS experience preferred)
    Spreadsheet and database capabilities (Excel, VBA, SAS, SQL), including programming
    Proficient written and oral communication skills
    Ability to convey technical concepts to non-technical audiences
    Comfortable with changing demands / priorities
    Strong self-motivation and attention to detail
    Ability to multi-task in a deadline-oriented environment
    Ability to work independently and collaboratively

What’s in it for you?

The expected hiring compensation range for this position is $125,000 - $172,000 annually. This is a hybrid role working out of our Frederick, MD office.

The total compensation package for this position may include other elements, such as a sign-on bonus, long term incentives, and annual bonuses.  This role is eligible to participate in the Legal & General America Annual Incentive Plan. The current target payment for the position is 20% of base salary, modified for corporate and individual performance. Bonuses are pro-rated based on start date.  This role has 20 vacation days and 10 sick days that are accrued on a bi-weekly basis. Employees also have 9 paid holidays throughout the calendar year.

We have a competitive compensation and benefits package focused on your overall wellbeing.  Employee benefits include health, life, and dental insurance; 401K with company match up to 6% as well as a pension package; generous time off; and wellbeing initiatives throughout the year (we like doing fun stuff).  We’re big on professional development and we’ll support and mentor you in your career progression and expect you to help us pay it forward by helping us develop tomorrow's leaders and growth-focused professionals. We value our teams and our communities and believe in giving back. Enjoy time off to volunteer for those causes that matter most to you!

If hired, employee will be in an “at-will position” and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation program) at any time, including for reasons related to individual performance, Company or individual department/team performance, and market factors. The Company reserves the right to change benefits plans at any time.

We are an equal opportunity employer and value diversity at our company. We do not discriminate based on race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, perform essential job functions, and receive other benefits and privileges of employment. Please contact us to request accommodation.