Ameritas Life Insurance Corp.

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Actuarial Assistant

at Ameritas Life Insurance Corp.

Posted: 10/24/2017
Job Reference #: 5000265830606
Keywords:

Job Description

Job Title

Actuarial Assistant

Location

Ameritas Life-Cincinnati-OHCN2

Area of Interest

Actuarial

Full-Time/Part Time

Full-time

Job Description

At Ameritas, fulfilling life is what we do daily. We continuously strive to help our customers and employees enjoy life at its very best by reducing uncertainty, helping grow assets and protecting what is most cherished. We're here to help people put worry behind and the future ahead and help enable a life that's rich in family, happiness, health and financial security. When lives are fulfilled, our mission is fulfilled.

Ameritas Life Insurance Corp is seeking an Actuarial Assistant

who will be responsible for providing actuarial services for Individual Annuity actuarial model-based risk management applications such as Economic Capital / Risk Management, Asset Liability Management, Own Risk Solvency Assessment (ORSA) compliance, Cash Flow Testing, Liquidity Testing, and Financial Planning.

 

Help provide timely information to senior management, product management, regulators, rating agencies, and auditors. Work is performed for all the company's insurance products, including, but not limited to, individual life, individual annuity and retirement plan products.

 

Participate in the financial management of the company by providing actionable information that enables good business decisions, and empowers senior management to make appropriate decisions. Coordinate with Enterprise Risk Management as well.

 

Essential Functions

 

  • Modeling Projects
  • Run one or more Individual Annuity actuarial models for projects in which actuarial projections are required. This involves developing a working understanding of how the modeling software functions.
  • Perform static and dynamic validation of actuarial models, ensuring accuracy of projections and compliance with departmental applications of that particular model.
  • Projects can include but are not limited to Economic Capital, Risk Management / ORSA, Asset Liability Management, Asset Adequacy / Cash Flow Testing, Liquidity Testing, and Financial Planning.
  • Assist in responding to modeling-related and risk management questions and requests for information from internal actuaries, accountants, auditors, management and other associates, as well as external rating agencies, auditors and regulators.
  • Help develop tools for the informational and reporting needs of other team members
  • Document decisions made, processes put into place and other work performed.
  • Update and document modeling assumptions as directed.
  • Recommend and implement efficiencies in modeling processes.
  • Model Development
  • Assist in managing model risk
  • Learn and apply model coding standards to all model development work.
  • Work with the model development unit to conform modeling practices and assumptions where appropriate.
  • Assist in developing and implementing procedures to ensure quality and consistent model usage across the company.
  • Participate in model code reviews for other model developers.
  • Participate in the testing of new versions of the modeling software as released by the vendor under the direction of the Model Steward.
  • Work on special projects or perform other model development tasks as requested.

Requirements

  • Credit for a minimum of two of the following Society of Actuaries requirements needed to obtain the Associate of the Society of Actuaries designation: all 3 VEE Subjects, Exam P, Exam FM, Exam MFE, Exam MLC, Exam C, or the FAP Course (including all modules, exams and assessments).
  • Actively make progress toward attaining the Society of Actuaries' ASA designation through passing exams and/or completing modules.
  • Bachelor degree in Actuarial Science, Mathematics, Statistics Finance or a related field.
  • Education or experience in modeling insurance product cash flows.
  • Basic knowledge of
  • Insurance company investments, insurance products and financial statements
  • Insurance company asset liability management and hedging strategies
  • Actuarial theory and techniques
  • Regulation of the insurance industry.
  • Principles-based, Statutory, GAAP and tax reserve calculations
  • Ability to accurately perform detailed calculations with an understanding of how those calculations impact higher-level values and the company's financial statements.
  • Ability to clearly and thoroughly document assumptions, decisions, processes and other work performed.
  • Understanding of advanced mathematical and statistical concepts.
  • Ability to work effectively both independently and as part of a team.
  • Strong analytical, problem solving, written / oral communication and organizational skills.
  • Experience with actuarial modeling software (Prophet preferred)
  • Experience with Microsoft Office (and Visual Basic) and database programming.
  • Ability to take initiatives and switch back and forth between projects as needed.
  • Willingness to learn new software tools and packages

We are Ameritas: proud to say we're in the business of fulfilling life.