National Life Group

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Product Strategy Actuary

at National Life Group

Posted: 2/3/2018
Job Reference #: 1826
Keywords:

Job Description

Location:
Montpelier, VT/Addison, TX

Product Strategy Actuary

Description

This individual will support and lead initiatives related to design and pricing of proprietary and non-proprietary variable, indexed and fixed/traditional life and annuity products.  This work includes product design, actuarial modeling, pricing, project management, contract review and support of sales ideas.  Key competencies include building and enhancing complex financial models that employ both deterministic and stochastic analysis to initially price or reverse engineer products and features.

Key Responsibilities

  • Key contributor to product ideation and business case development.

  • Communicates efficiently and effectively, orally and in writing, with both internal and external audiences.

  • Ability to lead and/or manage projects.

  • Understands pricing practices and develops models that incorporate complex policyholder options and hedging thereof.

  • Ensures suitable pricing model projections or spreadsheets are developed to assess proposed proprietary or existing competitor product designs.

  • Evaluates anticipated risk profile and financial impact of proprietary products and/or features.

  • Creation of initial actuarial pricing models for new products & features (including reinsurance, if applicable) to determine feasibility that are transferred to Pricing Area for completion and in-depth analysis.

  • Understands and is able to reverse engineer key features of competitor products and/or enhancements.

  • Ensures compliance with legal and regulatory requirements.

  • Proprietary marketing material review and sign-off as appropriate.

  • Contract and prospectus technical support.

  • Experience study review and pricing assumption setting.

  • Coordination and review of outside actuarial consultants’ work products.

Job Requirements

  • Fellow (or near Fellow) of the Society of Actuaries with a minimum of 5 years of actuarial experience.

  • Good communication skills, both written and verbal.

  • Ability to work with Distribution Leadership to design and develop new life and annuity products.

  • Member of the American Academy of Actuaries, in good standing, and currently compliant with all continuing education requirements.

  • In-depth knowledge of life and/or annuity products and benefits.Experience with group annuities a plus.

  • Solid financial modeling experience using actuarial software, preferably MG-ALFA.

  • Working knowledge of applicable Statutory and GAAP valuation standards:CARVM;CRVM; applicable Actuarial Guidelines; VM 20, 22; SOP 03-01, FAS 133, 157.

  • Self-motivated and result-focused.