Life Insurance Actuarial and Pricing Lead Analyst for a Top Ten Insurer

Summary:

Capgemini is seeking a highly motivated and detail-oriented Life Insurance Actuary to join our team to work for a top 10 US Insurance Carrier.

The Lead Actuarial and Pricing Analyst will focus on developing and maintaining pricing models for life insurance products, supporting the implementation of new life insurance offerings, and providing technical expertise for in-force life products.

Core responsibilities include performing actuarial analysis, ensuring regulatory compliance, and collaborating with cross-functional teams to drive business success in the life insurance space. The role also involves leading actuarial research, setting assumptions, and mentoring junior staff. Ideal candidates should have 3-5 years of experience in life insurance actuarial functions, strong technical skills, and be progressing towards ASA/FSA certification.

This position offers growth opportunities in a dynamic and collaborative environment in our client’s Life Insurance Business Unit.

Our Client is one of the United States’ largest insurers, providing a wide range of insurance and financial services products with gross written premium well over US$25 Billion (P&C). They proudly serve more than 10 million U.S. households with more than 19 million individual policies across all 50 states through the efforts of over 48,000 exclusive and independent agents and nearly 18,500 employees. Finally, our Client is part of one the largest Insurance Groups in the world.

Job Description:

• Initiates, analyzes, recommends and implements appropriate revisions in actuarial methods and assumptions in areas with significant financial impact.
• Works independently to develop and implement appropriate solutions to actuarial issues. Acts as project lead, where assigned, assigning project work, managing workflow and providing feedback to management to enable appropriate modifications to and timely completion of projects.
• Represents the Actuarial Department through participation in inter-departmental meetings and committees.
• Prepares and interprets data and related formulae for management.
• Analyzes operations to recommend improvement for control and/or efficiency.
• Designs and conducts training and development of professional actuarial personnel as assigned to maintain efficient and accurate completion of projects.
• Leads company participation in external examinations by the I.R.S., state Insurance Departments, and internal audit committees.
• Coordinates with external, hired experts.
• Coordinates with appropriate Home Office and Parent Company Departments on requests for information and relevant reporting issues.
• Analyzes proposed and existing products, develops appropriate formulas, and directs the calculation of nonforfeiture values, premiums, commission rates, reserves, and proposal and disclosure values for new and existing products. Develops, extends, and maintains the profit study, reserve, and nonforfeiture value calculation programs.
• Directs the implementation of new products on administration and proposal systems.
• Directs audits of the plan description file, and coordinates changes.
• Responsible for the timely and accurate delivery of actuarial portions of financial statements.
• Maintains actuarial valuation systems to be consistent with End-User computer standards, including required changes as necessary due to IT system changes, product changes, and regulation changes.
• Collaborates with IT to ensure new Company and Group processes and procedures are correctly reflected in the actuarial valuation systems.
• Provides system programming/data generation support to other actuaries and departments to generate policy data information used in analysis and decision-making.
• Researches, analyzes and recommends necessary changes and additions to mainframe and PC software, as well as End-User computer standards as a result of capacity constraints and procedural or technological changes.
• Directs and analyzes actuarial research and experience studies and prepares reports to management.
• Directs the development of actuarial assumptions used in models for projecting future experience.
• Analyzes agent compensation systems and recommends changes where appropriate to maintain profitability and competitiveness.
• Directs the preparation of reports and financial projections to provide management with information needed to monitor and evaluate the impact of business decisions on profits.
• Always promotes safety and complies with safety/ergonomic standards as outlined in relevant company published manuals.

• Performs other duties as assigned

This position comes with competitive compensation and benefits package:

1. Competitive salary and performance-based bonuses
2. Comprehensive benefits package
3. Career development and training opportunities
4. Flexible work arrangements (remote and/or office-based)
5. Dynamic and inclusive work culture within a globally renowned group
6. Private Health Insurance
7. Retirement Plans
8. Paid Time Off
9. Training & Development

About Capgemini

Capgemini is a global leader in partnering with companies to transform and manage their business by harnessing the power of technology. The Group is guided everyday by its purpose of unleashing human energy through technology for an inclusive and sustainable future. It is a responsible and diverse organization of over 340,000 team members in more than 50 countries. With its strong 55-year heritage and deep industry expertise, Capgemini is trusted by its clients to address the entire breadth of their business needs, from strategy and design to operations, fueled by the fast evolving and innovative world of cloud, data, AI, connectivity, software, digital engineering and platforms. The Group €22.5 billion in revenues in 2023.