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Actuary - Annuity Products

Company: F&G
Location: Des Moines
Posted on: May 19, 2019

Job Description:

Summary


This position's primary responsibility is to direct and provide leadership in the design, pricing and management of Fixed Indexed Annuity products for Fidelity and Guaranty Life.



Organization


This position reports to the VP Annuity Product and will interact directly with all levels of senior management.



Duties and Responsibilities


The actuary's primary responsibility is to lead actuarial work on the development, design, pricing, risk analysis, and on-going management of the Fixed Indexed Annuity products. The position supports the product lines to comply with various state and federal regulations and ensure the company objectives are achieved. The position also participates in discussions on new product designs; initiating and analyzing applicable actuarial research; developing actuarial assumptions and policy values; developing and maintaining profitability models, analyzing results, and making recommendations of any changes to the product lines of business that need to be implemented for the best interest of the company. This position has visibility into state filings and inforce management of the annuity product line. Responsibilities include leading a small team of internal actuarial staff members and working with external actuaries.



Determination of Product Features and Rates


Perform pricing exercises in accordance with established pricing guidelines and profitability targets for all Annuity products, with a focus on equity index products.
Monthly new business analysis of all current retail annuity products.
Evaluate New Business in a risk adjusted framework.

Product Development


Provide analysis for the Product Development team on feasibility of product ideas.
Provide Valuation and Non-forfeiture Law expertise for Fixed Indexed Annuity products.
Recommend design and contract language changes along with investment and compensation practices.
Lead the preparation of all annuity pricing-related Product Specifications and Pricing Report documents

Sales Illustrations


Assist in ensuring new and existing products are properly supported in calculators and the Illustration systems.

Inforce Management


Collaborate with others in supporting product implementation and inforce management of the Annuity Products.

Experience and Education Requirements


Bachelor's degree is required in mathematics, actuarial science or related degree.

FSA and MAAA certifications are required.
Minimum 8 years actuarial experience, with at least six years experience in progressively responsible product positions in the insurance industry.
Strong Pricing and annuity knowledge.

Supervisory experience.
Strong technical, analytical, organizational, computer, and team skills.

Skills and Abilities


Knowledge of Axis or closely related actuarial/pricing software is preferred.
Proactive individual who can provide strategic thinking to Product Development team with solid analytical, visionary and conceptual skills.
Self-starter who demonstrates strong initiative and displays a high energy level.
Strong problem-solving skills that include advanced analytical and reasoning abilities.
Ability to establish and maintain strong internal relationships within the company.
Strong presentation skills.
Team player who has the ability to function as a key member of a small group in which members of the team work with great autonomy and take a high degree of ownership for their areas of responsibility.
Business acumen to gain credibility within the organization.
Knowledge of Microsoft Office applications (Word, Excel, PowerPoint, Access).
Excellent team-building and supervisory skills, with the ability to retain, coach, delegate and mentor actuarial students.
Ability to participate in establishing goals, structures, and processes necessary to implement a mission and strategic vision.
Support effective partnerships with key groups and individuals while possessing superior consultation and change management skills.

Physical Demands and Work Environment


Typical professional office environment- Long periods of sitting required.

PandoLogic. Keywords: Actuary, Location: Des Moines, IA - 50320

Keywords: F&G, Des Moines , Actuary - Annuity Products, Accounting, Auditing , Des Moines, Iowa

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