As a Senior Actuarial Consultant - Life Insurance you will be responsible for key actuarial functions, which may change from time to time, as needed for one of our contracts where our client has outsourced their actuarial department to us. The role will encompass aspects of end to end performance of some key actuarial functions that might reasonably be expected of an equivalent in-house actuary. These actuarial functions include the migration and continuous improvement of relevant systems and processes, including but not limited to those used for reserving, pricing, experience studies, financial reporting, loss recognition testing and asset adequacy testing, integrating these into other systems and processes as needed and validating that key values you produce are captured appropriately in the relevant administration and financial reporting systems, when applicable. Our client demands leading edge products, services, and expertise, and as a senior consultant with our firm, you can expect to gain tremendous exposure to all facets of their actuarial operations.
- We are looking for an actuary who has worked in in actuarial functions at an insurance company and understands these types of operations. The individual must be inquisitive, proactively contribute noticeably to the client’s business and deliver exceptional performance in the following areas:
- Serve as a key actuary and deliver against established objectives, budget, timeline, deliverables and quality standards
- Engage actively with key stakeholders at the client and be able to discuss relevant strategic and operational matters
- Work collaboratively with others at WTW providing pricing, reserving, experience study and other services to this outsourcing client
- Ensure that the proper actuarial tools (e.g., models, automation tools and others) are built, put in place, and integrated with other relevant systems and processes, e.g., what will be the relationship between the pricing and valuation models or between the experience study tools and the actuarial projection model.
- Ensure that relevant values produced by our team are implemented effectively by the client in financial reporting and the policy administration system
- Provide mentoring and training to junior staff
- Keep abreast of industry developments and actively pursue opportunities to expand the services of the actuarial department and undertake special projects that help the client be more successful and profitable.
- 3+ years of actuarial experience in a role in an in-house actuarial department of a life insurance company
- ASA is required; FSA credentials are encouraged and a major advantage
- Experience or general knowledge with home services products
- Experience with many aspects of actuarial services carried out by a typical actuarial department
- Understands how to do in-house actuarial work and has an inquisitive and dynamic personality
- Is comfortable engaging with life insurance stakeholders, can discuss strategic as well as operational matters and is a strong communicator that gives confidence to others by managing internal politics, influencing and presenting of challenging matters
- Strong interpersonal and team skills
- Well-developed verbal and written communication skills
- Strong analytical, creative thinking and problem solving skills
- Enjoy training and mentoring junior staff
- Availability to travel on an as needed basis
- Strong technical skills, preferably in at least one of Microsoft Excel with VBA, SQL, or R
- Expertise in actuarial software (GGY AXIS, Risk Agility, MG-ALFA, Moses, Prophet, and/or Polysystems). Strong expertise a plus. Axis skills are preferred.
- Ability to direct and do work involving technical issues and requiring problem solving skills
- Motivated, independent learner willing to share their knowledge with others
- Ability to explain the big picture as to why an assignment needs to be performed, how it fits in to the final objective and ensure that tasks performed are directly linked to client objectives