Loading some great jobs for you...

The Actuarial Financial Reporting and Valuation team of the Individual Life Division (ILD) is composed of 16 Individuals working from two office locations (Waltham, MA and Bellevue, WA) and others who are telecommuters. This collective team has oversight for all valuation and financial reporting of the ILD business, experience studies and assumption development and Corporate oversight of all Reinsurance including reinsurance administration of the ILD business.

Symetra is looking for an Associate Actuary to join the experience studies and assumption development team. In this role, the incumbent will be closely collaborating with other members of that team in addition to ILD's valuation and financial reporting team, Pricing, Underwriting (U/W) and Corporate's Actuarial team with exposure to Symetra's CFO and Appointed Actuary.

Key Responsibilities:

The experience studies and assumption development team is responsible for:

* Running the mortality and lapse studies on an annual basis
* Developing and recommending best estimate assumptions for mortality which are used by pricing and for all financial projections (Plan, GAAP, Cash Flow Testing, Embedded Value)
* Developing and recommending best estimate assumptions for lapse assumptions used financial projections (Plan, GAAP, Cash Flow Testing, Embedded Value)
* Developing and recommending VM-20 assumptions and documentation of such assumptions to satisfy VM-31 requirements
* Collaborating with U/W on Research & Development (R&D) initiatives
* Providing all regulatory and industry bodies with required experience related information

More specifically, the successful incumbent will have strong mortality and development experience and will be responsible for:

Leading the development of all mortality assumptions which includes-

* Review of Symetra's mortality experience
* Stay abreast of industry experience studies
* Develop ground-up mortality assumption recommendations
* Partner with other internal teams to evaluate the impact of recommendations
* Presentation of recommendations to Senior Management
* Partner with internal or external peer reviewers
* Stay abreast of regulatory changes and best practices in particular around VM-20
* Develop and annually update VM-31 (and other) requirements

Collaborating with U/W on all R&D and innovation initiatives affecting mortality which includes-

* Changes to Preferred Criteria
* Changes to Age & Amount Requirements
* Critical team member of the U/W innovation team which is responsible for developing parameters and programs to move ILD's business to Accelerated U/W and ultimately to Automated U/W
* Changes to or new U/W programs affecting how Symetra assesses mortality risk

Education Required:

Bachelor's degree or equivalent with strong quantitative, statistics or mathematics background.

Minimum Years or Related Work Experience Required:

3+ years of Individual Life mortality experience which includes assumption development.

Specific Industry and/or Specialty Experience Required:

FSA with 7+ years of experience with a minimum of 5 years of Individual Life experience.

Skills and Abilities Required:

* Very strong verbal and written communication skills. Previous experience communicating to Senior Management is preferred
* Strong team player / collaborator skills
* Solid knowledge of current and historical Individual Life market including evolution of products and U/W over time and how they impact mortality
* Very strong knowledge of how to develop mortality assumptions
* Ability to work and solve complex problems independently
* Ability to think outside-the-box and come up with creative solutions
* Ability to raise issues, proactively make solid recommendations to address the problems and be able to justify such recommendations
* Experience developing VM-20 liability assumptions is a plus

Symetra is a dynamic and growing financial services company with 60 years of experience and customers nationwide. In our daily work delivering retirement, employee benefits, and life insurance products, we're guided by the principles of VALUE, TRANSPARENCY AND SUSTAINABILITY. That means we provide products and services people need at a competitive price, we communicate clearly and honestly so people understand what they're getting, and we build products that stand the test of time. We work hard and do what's right for our customers, communities and employees. Join our team and share in our success as we work toward becoming the next national player in our industry.

Learn more at www.symetra.com/careers.

Associated topics: actuarial analyst, actuarial assistant, actuary consultant, analyst, associate actuary, life actuary, model, retirement actuary, risk, statistics

* The salary listed in the header is an estimate based on salary data for similar jobs in the same area. Salary or compensation data found in the job description is accurate.

Launch your career - Upload your resume now!

Upload your resume

Loading some great jobs for you...