Job Description
Summary
Responsible for all aspects of Actuarial work related to development, ongoing reporting, governance and documentation of US GAAP, Statutory and Tax financials at Prosperity.
- Major Duties and Responsibilities
- Demonstrate an understanding of insurance products and terminology
- Enhance ALFA and ArcVal modeling knowledge needed to support financial reporting
- Assist in establishing and maintaining controls over valuation systems, processes and databases to ensure that the company’s results comply with reporting requirements
- Partner with modeling peers to convert the ArcVal Statutory valuation models to ALFA
- Assist in maintaining detailed documentation for all key assumptions underlying the development of financials
- Support external auditor’s review processes and procedures for financial reporting
- Develop and maintain a current knowledge of all regulatory requirements for financial reporting
- Monitor regulatory environment and recommend, develop and implement financial reporting changes as necessary
- Build actuarial expertise in the interpretation and understanding of financials. Participate in the development, optimization, and maintenance of tools to assess earnings changes
- May be assigned other duties as required to support organizational goals and objectives
- Job Qualifications
- Level and title commensurate with experience
- Bachelor’s degree (B.A.) or equivalent education and experience required
- Must be working towards and making satisfactory progress toward ASA or FSA designation (FSA preferred)
- Advanced Excel skills and experience with ArcVal, MG ALFA or other similar modeling platform
- Strong knowledge of annuity products
- Must have a minimum of 4 years’ experience in a professional actuarial role with a variety of insurance products, including knowledge of the LDTI, FAS 60, FAS 91 and FAS 97 accounting models.
- FAS133 and MRB experience is preferred
- Hands-on experience coding, validating and maintaining valuation systems
- Prior experience with end-to-end development of PGAAP Financials, including preparation of all the relevant documentation for management / external audit governance is a plus
- Key Competencies
- Proven experience interacting professionally and effectively in a team environment
- Ability to explain complex actuarial concepts and results in a coherent manner
- Experience managing concurrent deadlines and multiple priorities
- Enjoys working hard, looks for challenges, and seeks opportunities for improvement
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