Director, Valuation

This is a fully remote position, open to applicants in United States.

📋 Description

• Conduct quarterly and annual assessments of insurance liabilities in accordance with U.S. GAAP, Statutory, Tax, and Bermuda EBS frameworks.

• Analyze and interpret reserve fluctuations and actual-to-expected (A/E) earnings variances.

• Assist in financial reporting tasks, which include disclosures and management reporting.

• Create and sustain earnings forecasts for business planning and financial evaluations.

• Transform existing valuation models from ArcVal to ALFA and design new product valuation models.

• Build, enhance, and sustain actuarial models for both valuation and projection objectives.

• Ensure that models are precise, efficient, and compliant with regulatory and business standards.

• Promote automation, process enhancements, and best practices in modeling.

• Formulate, review, and revise actuarial assumptions, such as mortality, lapse, and expense assumptions.

• Execute experience studies, sensitivity analyses, and scenario evaluations.

• Offer insights into earnings volatility, reserve sufficiency, and capital implications.

• Establish and uphold controls over models, data, and valuation methodologies.

• Keep documentation current and ensure adherence to actuarial standards, internal policies, and regulatory obligations.

• Collaborate with Underwriting, Finance, Risk, and M&A teams on product innovation, reinsurance dealings, and strategic initiatives.

• Assist in the pricing, assessment, and structuring of reinsurance agreements.

• Provide actuarial expertise to aid in business decision-making.

• Support internal and external audits through comprehensive documentation and responses to review inquiries.

• Track regulatory changes and propose enhancements to valuation and reporting practices.

⛳️ Requirements

• Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Finance, or a related discipline, or an equivalent combination of education and experience.

• Over 5 years of actuarial experience with a wide-ranging exposure to various insurance products.

• Robust understanding of U.S. GAAP accounting frameworks, including FAS 60, FAS 91, and FAS 97.

• Solid knowledge of Long-Duration Targeted Improvements (LDTI) and its implications for valuation and financial reporting.

• Experience with Fixed Indexed Annuities (FIA), Fixed Indexed Universal Life (FIUL), Universal Life (UL), Deferred Annuities, Payout Annuities, and Traditional Life products.

• Preference for familiarity with both direct and reinsurance business.

• Proficiency in actuarial modeling platforms such as MG-ALFA (ALFA), AXIS, Prophet, or similar systems.

• Advanced Excel skills with experience in developing, automating, and optimizing complex financial models.

• Practical experience in constructing, validating, and maintaining valuation systems and models with an emphasis on data integrity and efficiency.

• Preference for experience with Principles-Based Reserves (PBR) / VM-20.

• Established experience in supporting the comprehensive development of U.S. GAAP financials, encompassing model creation, assumption setting, validation, documentation, and audit assistance.

• Strong grasp of model governance, controls, and documentation protocols.

• Exceptional analytical and problem-solving abilities.

• Strong communication skills capable of distilling complex actuarial concepts for varied audiences.

• Ability to juggle multiple priorities and deadlines in a dynamic environment.

• Demonstrated capability to collaborate effectively across teams and stakeholder groups.

🏝️ Benefits

• Competitive compensation and benefits package.

• Opportunities for professional development and career advancement within a growing organization.

• Chance to play a significant role in shaping actuarial strategy, valuation, and financial reporting processes.

• Exposure to a diverse range of insurance products and reinsurance transactions.

• Collaborative, cross-functional environment with visibility to senior leadership and essential business partners.

• Opportunities to contribute to strategic initiatives, process enhancements, and model innovations.