This role will support special projects and the overall model management and modernization activities for Fixed Annuities, Fixed Index Annuities, Payouts and Pension products in A&R Actuarial. This role reports to the Head of the Actuarial Special Projects & Model Infrastructure team within A&R Actuarial Valuation – GA Products team.
- Represents the team on IFRS 17 working groups, to provide input/guidance on methodology, implementation considerations and coordination/integration with Actuarial Modernization efforts
- Represents the Fixed Annuities, Fixed Indexed Annuities, Payouts and Pension models on project teams with regard to researching and solving modeling and data issues, implementing new products/product features or enhancements, review and implementation of proposed assumption and methodologies with a thorough understanding of these products and the code and architecture of the ALFA models and inforce files.
- Supports ongoing Actuarial Modernization efforts, including Data Integration and Governance, planning, and liaising with A&R Model Development Team to support actuarial model conversion efforts for the GA product lines through peer review and UAT, supports the design of the modernized financial reporting process and needed actuarial modeling infrastructure
- Facilitates and participates in ongoing Modeling, Assumption and Methodology meetings and other product specific working groups; supports the governance process including escalation to higher level governance committees
- Manages model databases, including planning quarterly implementations, reviewing/updating estimated financial impacts (EFIs), ensuring completed items are closed and working with Model Governance on review of completed items and that appropriate EFI Maintenance activities are followed; collaborates with other teams as needed (i.e., model developers, owners, data/inforce, experience studies)
- Coordinates the overall model management and planning of future model improvements, including building management reporting of model status (including current Model Validation score, notable model shortcomings, etc), planned future changes and remediation of model gaps
- Partners with Model Integrity team to plan future Model Validation activities, supports training and education of Model Owners/Supervisors to embed documentation/testing requirements into the Valuation team
- Participates in discussions/analysis and provides guidance/advice regarding technical actuarial issues such as modeling methodology, reserving principles and changes to valuation standards, laws and regulations applicable to variable annuities.
- Monitors and analyzes developments in actuarial techniques, laws and regulations applicable to variable annuities and recommends appropriate reaction to these developments.
- FSA or equivalent professional designation along with Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Economics or related field and 7 years of relevant experience, In lieu of Bachelor's, will accept Master's in a listed discipline and 5 years of relevant experience. In lieu of FSA will accept ASA or equivalent professional designation and 12 years of relevant experience
- Prior leadership experience
- Knowledge of actuarial modeling tools like ALFA
- Programming skills
- Project management experience
Behavioral and Leadership Competencies:
- Demonstrates high quality leadership, judgment, organization and prioritization skills.
- Effectively communicates, both verbally and in writing, advanced mathematical and analytical concepts to various audiences.
- Works well under pressure and within time constraints to effectively accomplish individual and team objectives.
At Transamerica we promote a Future Fit mindset. What is a Future Fit mindset?
- Acting as One fosters an environment of positive collaboration
- Accountability allows us to own the problem as well as the solution
- Agility inspires new ideas, innovation and challenges the status quo
- Customer Centricity encourages an above and beyond approach to our customer
Why Work for Us
Total Rewards at Transamerica: It’s more than a paycheck. Our comprehensive Total Rewards package is designed to help support you in many ways — throughout all stages of your life and career. We provide a competitive, market-driven program that encompasses base compensation, bonus potential, retirement, health and wellness benefits, learning and development opportunities, plus great employee perks. All designed with you in mind… to help you live your best life, grow personally and professionally - and feel valued for the work you do.
Equal Opportunity Employer:
Transamerica Life Insurance Company is an Equal Employment Opportunity employer and does not discriminate against any applicant or employee because of age, religion, sex, gender identity, genetic information, race, color, national origin, pregnancy, sexual orientation, marital status, participation in the uniformed services (e.g. U.S. Armed Forces, National Guard), physical or mental disability, or any other status protected by federal, state, or local equal employment opportunities laws.
AEGON USA Realty Advisors, LLC, is an Equal Employment Opportunity/ Affirmative Action Employer and does not discriminate against any applicant or employee because of age, religion, sex, gender identity, genetic information, race, color, national origin, pregnancy, sexual orientation, marital status, participation in the uniformed services (e.g. U.S. Armed Forces, National Guard), physical or mental disability, or any other status protected by federal, state, or local equal employment opportunities laws.
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