This Actuarial Manager role will be responsible for performing various analysis to support business strategy relating to our Variable Annuity business. This includes but is not limited to refinement to modeling of hedges in VM-21, analysis relating to asset investment, asset sale, and reinvestment strategies (e.g. duration), review of financial impact from various risk management strategies. The role offers opportunities to work across the Finance and Risk organizations on a variety of strategic initiatives and present analysis result to members of senior leadership.
Specific responsibilities:
- Responsible for performing financial impact analysis of various strategic business initiatives and communicating results to senior leadership and investors to help management make informed business decisions. This includes variable annuity and payout annuity from both a liability and asset perspective, including hedging implications. This may involve analysis around optimization on asset sale strategy, delta and rho hedge modeling, attribution of projected hedge P&L within metrics, alignment of modeling choices across different metrics and blocks (e.g. choice of scenarios, fund modeling).
- Work with external actuarial outsourcing partner and internal team members to develop methods to quantify various strategic business initiatives to distributable cash flow (DCF) and economic measures such as fair value.
- Review work completed by external actuarial outsourcing partner and internal team members including detailed analysis on cash flow and model output. This includes analysis of projections of Variable Annuity GMxB liabilities (primarily guaranteed minimum living benefits), asset cash flows, and hedges.
- Engage in significant interaction with highly skilled colleagues (e.g., model developers, hedging quants, valuation actuaries, investment/portfolio managers, tax accountants)
- Contribute to ad-hoc projects by assisting with analysis and implementation of regulatory changes relating to VA (e.g. new Economic Scenario Generator for VM-21) and other company related initiatives, such as modeling or methodology changes.
Key Qualifications:
- Bachelor’s degree in Mathematics, Actuarial Science, Finance or related business discipline
- FSA or Career ASA
- 7+ years financial, insurance industry, or actuarial experience
- Prior experience with variable annuity products, modeling, hedging, and / or valuation preferred
- Advanced knowledge of financial mathematics, derivative pricing theory, rate & equity derivative instruments preferred
- Excellent computer skills: Excel, databases, actuarial projection/valuation software, programming (e.g. R, VBA, SQL)
- Excellent analytical skills and deep knowledge of insurance products, regulations, or insurance company structure from prior experience in roles such as pricing, modeling, valuation, risk management, inforce management, experience studies, hedging
- Ability to use own knowledge to challenge current methodologies/approaches and develop and execute on solutions to complex actuarial problems. Detail oriented and strong analytical problem-solving skills to make informed decisions
- Ability to appropriately and professionally communicate complex concepts across multiple and varied audiences; internal and external to their department or functional area
- Ability to manage competing priorities and deadlines
- Strong desire to learn and grow; willingness to gain expertise in other actuarial areas besides current areas of expertise to strengthen overall business knowledge
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Venerable Values:
Every position at Venerable has responsibility for living out the company's values as described here:
We are Courageous -
We think critically, ask "why?" and seek out creative solutions.
We are Curious - We take calculated risks, learn from out failures, and challenge traditional ways of thinking.We are Connected - We are connected to each other, our customers and our community.
