Actuarial Analyst
Actuarial Analyst
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$ 80000 - 105000
1 Vacancy
Job Description
EMPLOYER: ACAP Services
DEPARTMENT: Finance Actuarial
REPORTS TO: Director of Risk Management & Analytics
LOCATION: Onsite in NYC (Hybrid)
SALARY: (See below)
ABOUT THE COMPANY
ACAP is a rapidly growing organization that owns and operates multiple insurance companies and ancillary insurance businesses and has over $10 billion of total invested assets. This opening is with the holding company which primarily performs asset management actuarial accounting and other oversight functions on behalf of ACAPs insurers and thirdparty clients. This group also provides strategic and operational support to ACAPs portfolio companies/subsidiaries proactively formulates new investment strategies oversees external financing and acquisition activities and provides modeling support for insurer liabilities and capital. On the insurance product side ACAPs primary lines of business are traditional fixed and equityindexed annuities with additional business in whole life insurance Medicare supplement and hospital indemnity products. ACAP insurers originate over $2 billion of new premium annually.
ABOUT THE ROLE
Support all core actuarial functions including valuation/financial reporting planning/projections cash flow testing pricing/product development reinsurance administration and experience studies for all ACAP products (primarily Fixed/Indexed Annuities with additional exposure to traditional Life Insurance). Work very closely with professionals from other key departments including Accounting Systems/IT and Policy Service.
WHAT YOU WILL DO:
- Reinsurance Administration: Production of reinsurance settlement statements and other calculations and processes related to reinsurance contracts. Implement new processes for new reinsurance transactions and automate existing processes.
- Statutory & GAAP Valuation: Utilize GGY AXIS models to produce and summarize reserves monthly for various Fixed/Indexed Annuity products. Support Microsoft Excelbased valuation and reporting processes for Life Insurance products. Reporting and validation of reserve calculations
- Financial Reporting: Manage preparation of monthly business reports including persistence reports reinsurance settlements and other pertinent management reports. Work with the Financial Technology team to automate monthly reporting items.
- Financial Projections Profit Modeling & Cash Flow Testing: Use AXIS models and other tools to assist in the production of financial projections and cash flow testing which directly feed management decisionmaking valuation and financial reporting.
- Experience Studies & Asset/Liability Management: Perform experience studies related to actuarial assumptions used for valuation and pricing. Assist with asset liability management including hedging effectiveness studies.
- Other Actuarial Projects: Work on teams in support of actuarial projects.
WHAT YOU WILL NEED:
- Bachelors degree in actuarial science finance mathematics economics computer science engineering or related field
- 1 years actuarial internships and/or 1 years of experience in an actuarial or quantitative insurance role
- Strong skills in Microsoft Office suite (Excel Word PowerPoint Access)
- Ability to communicate complex concepts in a professional and concise manner both verbally and written
- Ability to form relationships and work well with others
- 1 actuarial exams passed
- Experience with GGY AXIS actuarial modeling software
- Experience/familiarity with Annuity product concepts
- Familiarity with R VBA and SQL
We know our people are our number one asset and we put a premium on hiring and retaining the best talent. For that reason we reward our employees with a competitive compensation package.
Our salary ranges are determined by role level and location. For individuals hired to work in New York State ACAP is required by law to include a reasonable estimate of the compensation range for this role. This range is specific to the locations listed above and considers the wide range of factors considered in making compensation decisions such as jobrelated skills experience and relevant education or training. A reasonable estimate of the current salary range is $80000.00$105000.00 USD annually.
BENEFITS:
ACAP works hard to create a positive and supportive environment. Thats why we offer great benefits to safeguard the health and wellbeing of our employees. Our comprehensive benefits package includes:
- Competitive salary/base pay
- Employersponsored medical dental and vision insurance
- Paid Life & AD&D Insurance (for employees and families)
- Paid Disability Insurance (STD LTD)
- Paid Parental Leave
- Paid Vacation and Sick Leave
- Paid Holidays 13 scheduled in 2025
- Voluntary Supplemental Insurance policies
- Safe Harbor 401(k) plan with employer match
- And other benefits and perks!
POSITION TYPE AND EXPECTED HOURS OF WORK
This is a fulltime position. Days and hours of work are Monday through Friday 9:00 a.m. to 6:00 p.m. 40 hours weekly or as otherwise arranged with the manager of the department.
US work authorization is required.
Who We Are: Statement
ACAP is an Equal Opportunity Employer and does not discriminate in recruiting hiring promotion or any other personnel action based on the basis of race ethnicity national origin color sex gender gender identity or expression sexual orientation religion age disability veteran status or any other basis covered by appropriate law. We comply with the laws and regulations set forth in the Know Your Rights poster. All employment is decided on the basis of qualifications merit and business need. To request an accommodation contact and we will make every effort to respond to your request within 48 business hours to work towards a positive solution.
Disclaimer:
The above is intended to describe the general content of and requirements for the performance of this job. It should not be construed as an exhaustive statement of duties responsibilities or physical requirements. Nothing in this job description restricts managements right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Required Experience:
Junior IC
Employment Type
Full-Time
