Job Tittle: Industry Principal Actuary (ASA/ FSA)
Location: Atlanta, GA (Hybrid)
Job Type: fulltime
As Industry Principal, you will be contributing to different phases of the consulting lifecycle. You will be intensely involved in complex actuarial calculations, life insurance process consulting; you will define the problem, propose and create the solution. You will possess strong knowledge of Life insurance and annuity products. You will work closely with actuaries, business analyst and software engineers to analyze, resolve and provide expert advice on actuarial calculations as it pertains to US compliance. You will guide teams on project processes, deliverables and contribute to the proposal development, client training and internal capability building and help detail the project scope from compliance perspective. You will have the opportunity to shape value-adding consulting solutions that enable our clients to meet the changing needs of the global landscape.
Location for this position is Atlanta, GA and Boston, MA. This role needs travel as per project needs .
Qualifications Basic
• Associate Society of Actuaries (ASA)/Fellow of the Society of Actuaries designations (FSA).
• Knowledge on Life Insurance terminology and calculations for life and annuity product values like cash value, death benefits, compliance values like TAMRA premium, CVAT and GPT values.
• Familiarity with US 7702, 7702A, 101(f) regulations
• Requirements gathering and creating actuarial requirements specification documents and getting signoffs from client actuaries
• Proactively contribute to all associated project work streams ensuring appropriate knowledge and information is exchanged to drive successful project outcomes. This includes (but is not limited to) 7702, 7702A, 101f related calculations.
• Analyze and resolve life insurance and annuity policy value, compliance value calculation, and analyzing mismatches (to resolve differences)
• Prioritize various production compliance issues and track them for resolution along with various project team/production support team members.
• Independently drive the business meeting with actuarial stakeholders for prioritization, work intake, business review and to provide regular feedback on work items.
• Create spread sheet based calculation tools for actuarial calculations.
Qualifications Basic:
• Bachelor’s degree or foreign equivalent required from an accredited institution. Will also consider three years of progressive experience in the specialty in lieu of every year of education
• At least 13 years of relevant work experience in the job description
Preferred:
• Experience in life insurance/annuity new business and conversion projects.
• Knowledge on Life Insurance terminology and calculations for life and annuity product values like cash value, death benefits, compliance values like TAMRA premium, Deemed cash value (DCV), Necessary premium testing (NPT), Fair Market Value calculation (FMV), CVAT and GPT values.
• Strong working experience with client actuaries on defining actuarial requirements and translating to software engineer for design and development
• Delivering with near-shore and off-shore teams