Actuary, GAAP Valuation

GENERAL PURPOSE OF THE JOB:

The Actuary, GAAP Valuation is responsible for reporting quarterly GAAP valuation, including but not limited to current US GAAP and Long Duration Targeted Improvements (LDTI) of fixed indexed annuities and other annuity blocks of business. The incumbent contributes to the execution of actuarial models and associated analysis; and maintains accurate valuation records and validations.

Flexible (home/office) work schedule in Des Moines, Iowa.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Completes the timely and accurate reporting, validation and analysis of liabilities, as well as delivery of required quarterly and year-end US GAAP reporting items based on MG-ALFA projection outputs.
• Focuses on US GAAP reporting (Current & LDTI), including but not limited to the following metrics: FAS 97, FAS 133, MRB, LFPB/DPL and DAC.
• Supports the development of a repeatable reporting process with proper controls and documentation, to be consistent with the best practice of risk management and audit controls.
• Maintains and executes an industry best practice actuarial control framework for SOX 404 requirements.
• Completes the internal and external audit deliverables with timely and accurate preparation and validation, and applicable maintenance of valuation assumptions and inputs.
• Supports creation of reports for fixed indexed annuities or similar products for management reporting of US GAAP financial results.
• 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.
• Monitors developments in the actuarial industry and remains current on applicable regulatory and accounting matters from a valuation perspective.
• Provides subject matter expertise to team members and internal/external stakeholders on complex actuarial valuation methodology.
• Performs other related work as assigned.

SUPERVISORY RESPONSIBILITIES:

Direct Reports: 1-3

Indirect Reports: None

EDUCATION AND/OR EXPERIENCE:

• Bachelor’s degree in actuarial science, or related field of study; plus a minimum of 6 years of related actuarial experience, or equivalent combination of education/and experience.

CERTIFICATES, LICENSES, PROFESSIONAL DESIGNATIONS:

• FSA, MAAA or ASA, MAAA required

KNOWLEDGE, SKILLS AND ABILITIES:

• In-depth knowledge and understanding of actuarial science and the ability to apply this knowledge is critical.
• Strong knowledge of all laws, rules and regulations related to actuarial valuation in the annuities industry.
• 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.

This description covers the major purpose and essential functions of the job. It is not intended to give all details or a step-by-step account of the way each task is to be performed. Employees may receive other job-related instructions and be required to perform other job-related work requested by their manager. All requirements are subject to possible modification to provide reasonable accommodation to qualified individuals with disabilities.