Actuarial Assistant

  • Location
    Frederick, Maryland
  • Job type
    Direct Hire
  • Category
    Accounting & Finance - Underwriting

Job Title: Actuarial Assistant
Location: Maryland, USA ( no remote )


Overview:

Currently looking for a candidate to assist in the creation and maintenance of AXIS actuarial models for the new Term business to be reinsured under the new AG-48 financial reinsurance deal, including those used in Corporate Planning, Embedded Value, Economic Capital, Cash Flow Testing, and Valuation ( Stat - XXX and VM-20, GAAP, Tax, IFRS ), as well as the documentation and control of all model development activities. May also serve as a supporting or backup AXIS model developer for our Pension Risk Transfer (PRT) buisness, IFR17 implementation initiative, and financial reinsurance modeling.






Responsibilities:

1) Take Ownership and implement our AXIS Term model currently under development for the new AG-48 financial reinsurance deal for a variety of purposes, including Economic Capital, Embedded Value, Value of New Business, Cash Flow Testin, Corporate Planning/Forecasting, and Valuation (Stat-XXX VM-20, GAAP, Tax, IFRS).

2) After the implementation, be responsible for ongoing model maintenance, version upgrade, model enhancements, model documentation, and adding new products and financial reinsurance deals to the models whenever needed.

3) Depending on teams resource needs, assist in AXIS model development for other purposes, such as PRT business, IFRS17 implementation, and other financial reinsurance deals.

4) Working with Model Governance team to ensure model control and documentation for the model development work meets the requirement of the company-wide standard Model Risk Control Framework (MRCF), and all company policies and procedures. Maintain detailed documentation of all changes made to models, including impacts under key reporting bases and evidence of management approval to prevent unauthorized changes and ensure integrity of model results.

5) Identify and implement process improvements, including automation of manual tasks wher possible, to increase efficiency and transparency while minimizing the risk of errors.

6) Peer reveiew AXIS models developed by other developers if needed

Qualifications:

Education:

- BS/BA Math/Statistics - Required
- 3 SOA Exams sme flexibility ( do not need to be a full-fledge actuary )

Experience/Knowledge:


- 2-3 years of life insurance/actuarial experience ( Life Insurance Preferred )
- Term Life Insurance experience preferred
- Model development or modeling experience required

* Experience in multiple actuarial/accounting methods ( EC, Statutory, GAAP, Tax, IFRS )
* Experience with PRT (pension risk transfer) + ( not required )

- Relocation assistance is available
- Excellent benefits that include matching 401K and a pension plan


If you are interested in this wonderful opportunity, please submit application and send resume to: Hisham.Askandarani@adeccona.com

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Reference number US_EN_2_027892_136539