AVP, Actuary â Annuity Valuation
AVP, Actuary â Annuity Valuation
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Job Description
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Job Description Summary
Our Nationwide Financial Actuarial team members have opportunities to use state-of-the-art tools are encouraged to innovate and learn to master actuarial methodologies. If this sounds like a place you could thrive then we want to know more about you!As the AVP Annuity Valuation Actuary youll be responsible for the calculation of reserves DAC/VOBA and other actuarial values for statutory GAAP and tax accounting for annuity products while overseeing the validation of actuarial systems and processes that are used to calculate these values. Youll monitor emerging regulations and accounting rules from governing bodies influence their final form through regulators and industry groups and apply thought leadership on application of new rules as they occur.
Job Description
Key Responsibilities:
Validate calculation of actuarial values and their underlying modeling systems and processes for fixed indexed variable registered-indexed in-plan and immediate annuities as well as pension risk transfer business.
Work with vendors and consultants as required to ensure systems and accounting methods are properly calculating actuarial values.
Assist in the forecasting of future financial impacts and/or the impact of changes in assumptions and communicate with Finance stakeholders.
Monitor regulatory activities pertaining to valuation through participation in industry work groups conferences business contacts and other means.
Influence the direction of future accounting rules where possible. Measure the financial impact of proposed changes and communicate to management.
Communicate directly with regulators as needed through written communications and face-to-face meetings where necessary. Provide thought leadership on implementation of regulation internally.
Perform financial reporting controls and oversee the control performance of the team. Work closely with internal and external auditors Nationwide Financial (NF) controllership and others in the performance of accounting and model governance.
Provide thought leadership on appropriateness of assumption for valuation purposes. Support the measurement of financial risks and risk management strategy arising from actuarial assumptions models and the underlying risks of annuity products.
Assists in the assessment and implementation of reinsurance solutions. Advises and supports capital management as necessary.
Support talent recruiting and development for the Actuarial job family. Oversees associate management including performance management salary planning and administration training and development workflow and organization planning day-to-day management hiring and placement and disciplinary actions for direct and possibly indirect reports.
May perform other responsibilities as assigned.
Reporting Relationships: Reports to VP & CFO Annuities. Leads a team of 5-7 direct and indirect reports.
Typical Skills and Experiences:
Education: BS or higher degree in Mathematics Actuarial Science or related technical fields.
License/Certification/Designation: FSA and MAAA designations required.
Experience: Typically 10 or more years of actuarial related experience is preferred. 3 years experience with annuity product designs and accounting is required. Prefer 2 years of managerial experience.
Knowledge Abilities and Skills: Extensive experience with actuarial modeling and accounting software such as Polysystems ALFA GGY AXIS or similar is required.
Other criteria including leadership skills competencies and experiences may take precedence.
Staffing exceptions to the above must be approved by the hiring managers leader and HR Business Partner.
Values: Regularly and consistently demonstrates Nationwide Values.
Job Conditions:
Overtime Eligibility: Not Eligible (Exempt)
Working Conditions: Normal office environment. Some travel may be required.
ADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties.
Benefits
We have an array of benefits to fit your needs including: medical/dental/vision life insurance short and long term disability coveragepaid time off with newly hired associates receiving a minimum of 18 days paid time off each full calendar year pro-rated quarterly based on hire date nine paid holidays 8 hours of Lifetime paid time off 8 hours of Unity Day paid time off 401(k) with company match company-paid pension plan business casual attire and more. To learn more about the benefits we offer click here.
Nationwide is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive culture where everyone feels challenged appreciated respected and engaged. Nationwide prohibits discrimination and harassment and affords equal employment opportunities to employees and applicants without regard to any characteristic (or classification) protected by applicable law.
#actuarialNOTE TO EMPLOYMENT AGENCIES:
We value the partnerships we have built with our preferred vendors. Nationwide does not accept unsolicited resumes from employment agencies. All resumes submitted by employment agencies directly to any Nationwide employee or hiring manager in any form without a signed Nationwide Client Services Agreement on file and search engagement for that position will be deemed unsolicited in nature. No fee will be paid in the event the candidate is subsequently hired as a result of the referral or through other means.
Required Experience:
Exec
Employment Type
Full-Time
