American Equity Managing Actuary, Modeling in West Des Moines, Iowa
GENERAL PURPOSE OF THE JOB:
The Managing Actuary, Modeling is responsible for leading the actuarial team in design and implementation of a best practice model governance framework. As a leader of the modeling team, the incumbent contributes to the development and production of actuarial models and associated analysis; and maintains accurate records and validations.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Leads a diverse team of employees with responsibility for managing the employee life cycle and experience, including but not limited to, selection and retention of talent, continuous feedback and performance management, reward and recognition, corrective action and employee development.
Leads a strategic initiative to integrate all actuarial models into one corporate actuarial MG-ALFA model and enhance models within actuarial used for non-cash flow business decisions and processes.
Ensures timely and accurate actuarial models to serve key stakeholder reporting, validation and analysis of liabilities, as well as delivery of required quarterly and year-end production models from MG-ALFA.
Evaluate existing actuarial models for enhancements on run-time, calculation engine, database setup and reporting capabilities.
Understanding of US GAAP and Statutory reporting, including but not limited to the following metrics: FAS 97, FAS 133, SOP 03-1, DAC, AG33, AG35 and Cash Flow Testing.
Serves as a voting member on both the Model Steering Committee and Assumption Approval Group.
Oversees change management of the corporate actuarial model subject to rigorous control requirements.
Oversees research and development for changes in the corporate actuarial model.
Collaborates with Investment Technology to improve and enhance the flow of data to the actuarial corporate model.
Ensures timely and accurate preparation, validation and delivery on external audit and internal audit.
Monitors developments in the actuarial industry and remains current on applicable regulatory and accounting matters from a modeling perspective.
Provides subject matter expertise to team members and internal/external stakeholders on complex actuarial models.
Performs other related work as assigned.
Two (2) direct reports overseeing the actuarial corporate model and enhancements of non-cash flow models used by the actuarial team.
General Description of Indirect Reports (2 and 3-downs):
Approximately six (6) actuarial associates and analysts.
EDUCATION AND/OR EXPERIENCE:
Bachelor’s degree in actuarial science, or related field of study; plus a minimum of 10 years of progressively responsible related actuarial experience; or equivalent combination of education/and experience.
A minimum of 5 years in a leadership role.
A minimum of 5 years of post-FSA experience.
A minimum of 10 years of experience utilizing MG-AFLA actuarial software. Will consider more years of experience in an alternative actuarial software.
Prior experience reporting US GAAP for a public company is preferred.
CERTIFICATES, LICENSES, PROFESSIONAL DESIGNATIONS:
- FSA, MAAA required.
KNOWLEDGE, SKILLS AND ABILITIES:
Expert level of knowledge and understanding of actuarial science with the ability to apply this knowledge is critical.
Strong knowledge of all laws, rules and regulations related to actuarial valuation in the annuities industry.
Mastery of actuarial valuation best practices, procedures and processes.
Strong knowledge and systems aptitude with actuarial software.
Exceptional attention to numeric and other detail.
Strong statistical and advanced math skills, including excellent Excel skills.
Ability to read, analyze, and interpret technical journals, financial reports, and legal documents from regulatory agencies, and other members of the business community.
Ability to effectively present technical information to top management, public groups, and/or boards of directors.
Ability to comprehend and apply principles of advanced mathematical concepts and theory.
Ability to apply principles of logical thinking to a wide range of intellectual and practical problems.
Ability to define problems, collect data, establish facts and draw valid conclusions.
Ability to deal with a variety of abstract and concrete variables.
Ability to work cooperatively and successfully with employees, customers, reinsurers, vendors and other outside third parties.
Ability to successfully handle pressure and meet deadlines in a fast-paced work environment.
Ability to meet defined financial reporting deadlines with often shifting priorities and an unpredictable workflow.
Minimal to no travel is required in this position.