Associate Actuary, GAAP

GENERAL PURPOSE OF THE JOB:

The Associate Actuary, GAAP Financial Reporting contributes to the actuarial valuation and financial reporting of fixed indexed annuities and other small annuity blocks of business. The incumbent contributes to the execution of actuarial models and associated analysis; and maintains accurate valuation records and cash flow models. 

Flexible (home/office) work schedule in 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, including but not limited to the following metrics: FAS 97, FAS 133, MRB 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.
• Supports the actuarial side of Long Duration Targeted Improvements.
• Performs other related work as assigned.

SUPERVISORY RESPONSIBILITIES:

Direct Reports: None

Indirect Reports:

None.

EDUCATION AND/OR EXPERIENCE:  

• Bachelor’s degree (B.A. or B.S.) in actuarial science, mathematics, statistics or related field of study; and three (3) years of related actuarial experience, or equivalent combination of education and/or experience.
• Prior experience utilizing MG-ALFA actuarial software is beneficial. Will consider more years of experience in an alternative actuarial software.
• Experience using SQL and a comprehensive understanding of relational databases is preferred.

CERTIFICATES, LICENSES, PROFESSIONAL DESIGNATIONS: 

• ASA, MAAA required. 

KNOWLEDGE, SKILLS AND ABILITIES:  

• General knowledge of the life and annuity industry and products.
• Understanding of actuarial principles / practices, and ability to apply that knowledge to a wide range of intellectual and practical problems.
• Ability to read, analyze, and interpret technical journals, financial reports, and legal documents from regulatory agencies, and other members of the business community.
• Strong analytical and problem-solving skills, including ability to research and analyze data with little instruction.
• Proficiency in Microsoft Office Suite, with knowledge of VBA within Excel.
• Knowledge and systems aptitude with actuarial software (MG-ALFA or similar).
• Knowledge with SQL and relational databases.
• Strong preference of being self-motivated and results-oriented.
• Exceptional attention to numeric and other detail.
• Effective project management skills, including planning and organization.
• Effective verbal and written communication skills, including presentation to management.
• Ability to work collaboratively and successfully with employees, customers, reinsurers, vendors, and other outside third parties.
• Ability to successfully handle pressure and meet deadlines in a face-paced work environment.
• Ability to successfully prioritize in an unpredictable workflow to meet defined financial reporting deadlines.