- Entry level
- No Education
- Salary to negotiate
AC - Actuarial
Estimated Travel Percentage (%): No Travel
Relocation Provided: Yes
American General Life Insurance Company
We currently seek an Associate Director & Actuary, Accident &Health Valuation (“A&H”). This position will report to the Valuation Actuary of Life/A&H - AGLA, and will have frequent and regular interaction with the AGLA Life Valuation team in Nashville, Tennessee. The main responsibility will be to manage a unit providing actuarial and finance support for A&H and Group Life/Health valuation (Statutory, GAAP and Tax). This role will be based in the US preferably in Nashville, Houston or Neptune, NJ. Other locations will be considered. The position will also work/interact with other functions including Finance, Pricing, Experience Studies, Modeling and ALM. The A&H business includes various product types, including: Accident Coverages, Cancer, Long Term Care, Individual Disability Income, Group Long Term Disability, Excess Major Medical, Group Life Waiver of Premium, etc.
Role and Responsibilities
This role is primarily responsible for the valuation and financial reporting of A&H and Group coverages. More specifically, the position will focus on:
- Valuation (Statutory, GAAP and Tax) and Financial Reporting of all AIG Life & Retirement’s Individual A&H and Group Life/Health policies and certificates for Active Life Reserves and Claim Liabilities.
- Responsibility for the maintenance and updates of in-force projection models in AXIS as well as Polysystems, and ArcVal CASE models.
- Responsibility for review of LTC and Disability valuation results produced by Third Party consulting firms.
- Ensuring that proper model governance controls are in place, adhered to, monitored, documented and maintained.
- Providing required financial reporting schedules for Statutory Annual Statements and GAAP reporting.
- Earnings analysis, reserve roll-forward analysis, and variance analysis for the quarterly and annual valuation processes.
- Ensuring valuation, risk management, pricing models, and Cash Flow Testing assumptions are consistent, where appropriate.
- Reviewing experience studies results, apply appropriate credibility formulas, recommend assumption/margin changes and analyze impacts to the business.
- Support other initiatives of the Life/Health Valuation function as required.
- This individual should be a Fellow of the Society of Actuaries (FSA) or Career ASA.
- A bachelor’s degree is required.
- 5+ years of progressively more responsible actuarial experience with health insurance products, including active life and claim reserving methodologies.
- The candidate must have excellent communication skills and the ability to interact with the Life Valuation and Appointed Actuary management teams as well as the finance, pricing, modeling and other teams to ensure consistency across work streams
- Ideal candidate will have a background in Universal Life with Secondary Guarantees, Level Term, Indexed Universal Life, Whole Life and Variable Universal Life.
- Experience with actuarial projection software (AXIS preferred)
- Experience with US valuation, financial reporting, business planning and experience studies
- General actuarial competency related to pricing, valuation (economic, GAAP, and statutory), and modeling of life insurance products
- Highly motivated and results-oriented
- Strong analytical skills
- Ability to work independently
- Desire to deliver high quality work product
- Demonstrated success working in cross-functional collaborative teams and in working with senior management
- Goal oriented and well-organized, with the ability to develop and manage disciplined processes.
- Experience managing an actuarial unit and developing, training and mentoring actuarial students.
It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.
At AIG, we believe that diversity and inclusion are critical to our future and our mission – creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.
About the company
American multinational insurance corporation with more than 88 million customers in 130 countries. AIG companies employ over 64,000 people in 90 countries. The company operates through three businesses: AIG Property Casualty, AIG Life and Retirement and United Guaranty Corporation (UGC). AIG Property Casualty provides insurance products for commercial, institutional and individual customers.