American Equity Hiring for Actuary, Modeling at West Des Moines Full Time

Description

At American Equity Investment Life Holding Company, we think of ourselves as The Financial Dignity Company. Our policyholders work with independent agents, banks and broker-dealers through our wholly-owned operating subsidiaries, to choose one of our leading annuity products best suited for their personal needs to create financial dignity in retirement. We remain steadfast in our commitment to quality products, excellent customer service, integrity, safety and delivering on our promises to our policyholders. Our success comes from hiring people who embody the beliefs that drive our unique, energetic, fast-paced and caring culture of collaboration, ownership and innovation.

We currently fund over half a million retirements nationwide, and have been headquartered in West Des Moines, Iowa, for over twenty-five years, with satellite offices slated to open in 2022 in Charlotte, NC, and New York, NY. We are a NYSE-listed company and maintain an “excellent” rating from AM Best. Our company has over $57 billion in assets, 26,000 active agents and over 650 employees.

GENERAL PURPOSE OF THE JOB:

The Actuary, Modeling is responsible for serving the actuarial team in design and implementation of a best practice model governance framework. As a manager of the modeling team, the incumbent contributes to the development and production of actuarial models and associated analysis; and maintains accurate records and validations.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Leads change management of the Actuarial Corporate Model subject to rigorous model governance control requirements.

• Leads research and development for changes in the Actuarial Corporate Model.

• Evaluate existing actuarial models for enhancements on run-time, calculation engine, database setup and reporting capabilities.

• Contributes to enhancing the current model governance policies and procedures.

• Ensures timely and accurate Actuarial Corporate Model to serve key stakeholders’ reporting, validation and analysis of liabilities, as well as delivery of required quarterly and year-end production models from MG-ALFA.

• Ensures timely and accurate preparation, validation and delivery on external audit and internal audit.

• Understanding of US GAAP and Statutory reporting, including but not limited to the following metrics: FAS 97, FAS 133, SOP 03-1, DAC, AG33, AG35 and Cash Flow Testing.

• Participates in the Corporate Model Steering Committee and serves as a non-voting member.

• Manages a strategic initiative to integrate all actuarial models into the Actuarial Corporate Model in MG-ALFA.

• Supports the actuarial modeling side of our company transformation to AEL 2.0; specifically, new reinsurance initiatives, new asset allocations, multi-channel product distribution and diversifying between return on equity and return on assets.

• Leads a diverse team of employees with responsibility for managing the employee life cycle and experience, including but not limited to, selection and retention of talent, continuous feedback and performance management, reward and recognition, corrective action and employee development.

• Partners with Information Technology to improve and enhance the flow of data to the actuarial corporate model.

• Monitors developments in the actuarial industry and remains current on applicable regulatory and accounting matters from a modeling perspective.

• Provides subject matter expertise to team members and internal/external stakeholders on complex actuarial models.

• Performs other related work as assigned.

SUPERVISORY RESPONSIBILITIES:

Direct Reports: 2-3

General Description of Indirect Reports (2 and 3-downs): 0

EDUCATION AND/OR EXPERIENCE:

• Bachelor’s degree in actuarial science, or related field of study; plus a minimum of 6 years of related actuarial experience, or equivalent combination of education/and experience.

• At least 5 years of MG-ALFA experience. Will consider combination of other actuarial software.

CERTIFICATES, LICENSES, PROFESSIONAL DESIGNATIONS:

• FSA, MAAA or ASA, MAAA required

KNOWLEDGE, SKILLS AND ABILITIES:

• In-depth knowledge and understanding of actuarial science and the ability to apply this knowledge is critical.

• Strong knowledge of all laws, rules and regulations related to actuarial valuation in the annuities industry.

• Exceptional attention to numeric and other detail.

• Strong statistical and advanced math skills, including excellent Excel skills.

• Ability to read, analyze, and interpret technical journals, financial reports, and legal documents from regulatory agencies, and other members of the business community.

• Ability to effectively present technical information to top management, public groups, and/or boards of directors.

• Ability to comprehend and apply principles of advanced mathematical concepts and theory.

• Ability to apply principles of logical thinking to a wide range of intellectual and practical problems.

• Ability to define problems, collect data, establish facts and draw valid conclusions.

• Ability to deal with a variety of abstract and concrete variables.

• Ability to work cooperatively and successfully with employees, customers, reinsurers, vendors and other outside third parties.

• Ability to successfully handle pressure and meet deadlines in a fast-paced work environment.

• Ability to meet defined financial reporting deadlines with often shifting priorities and an unpredictable workflow.