Actuarial Associate Product

About Kuvare

Kuvare is on a mission to serve hardworking consumers overwhelmed by the complexities of retirement and is built from the ground up to do so. Our unified financial hub protects the retirement of everyday Americans and the distributors, carriers and investors that serve them. We create life insurance and annuity products that protect consumers’ retirements, and are simplified for distributor partners and financial professionals to sell and service.
Kuvare family of companies:
Retail Annuity and Life Insurance Solutions:
- United Life Insurance Company
- Guaranty Income Life Insurance Company
- Lincoln Benefit Life
Institutional Insurance:
- Kuvare Life Re
Bespoke Insurance Solutions:
- Ignite Partners

About the role

This position is part of the Actuarial Development Program for Kuvare Corporate Management (KCM). The Program offers students an array of experiences including Life and Annuity Valuation, Modeling and Forecasting, Product Management, Asset Liability Management, and Enterprise Risk Management.  The Program is designed with the objective to develop Fellows in the Society of Actuaries.

• Describe the role and team the candidate will be joining

What you'll do

Valuation tasks:

• Prepare and help monitor reserve trends monthly on GAAP, statutory, and tax accounting bases
• Develop management reporting for existing business
• Assist in preparation of Statutory Annual and Quarterly Statements
• Update Valuation models and organize results for management.
• Assist in gathering information and analysis for external auditor inspections

Pricing & Product Development:

• Support rate setting and other non-guaranteed elements (NGE) process; perform analysis to support business decisions, coordinate signoff, and monitor implementation.
• Monitor emerging product experience, manage actuarial assumptions and identifying any new risks
• Coordinate and assist with cross-functional initiatives related to product development and reporting
• Oversee Life and/or Annuity product illustrations; provide support to Customer Service on exemptions and escalated requests
• Develop relationships with internal and external distribution (sales) stakeholders
• Manage projects and stakeholders to promote timely and effective progress on key initiatives
• Assist Pricing Actuaries in designing new products
• Leading cross-functional teams in education, objectives, and project decisions relevant to the product
• Managing and communicating pricing risks, profitability, scenario analysis
• Key contributor in implementation of product across downstream teams
• Reinsurance: developing RFP for risk sharing, analysis of existing and potential treaties, developing relationships with counterparts at reinsurers
• Responsible for certifications within Actuarial Memoranda submitted to state regulatory bodies for product filings
• Support development and review of contract language and other filing requirements
• Ensure products are built appropriately in administration system and validating test cases

Product Management Tasks:

• Produce, present, and improve monthly business monitoring reporting
• Provide insight and analysis to inforce experience trends
• Produce monthly crediting rate package and process
• Coordinate with ALM and System on data and result analysis
• Assist in the development and analyze annual Illustration Actuary testing models
• Assist on special policy illustration requests
• Assist on Product related projects and requests

Modeling and Forecasting tasks:

• Build and review model inputs to support financial projection capability
• Execute and monitor model projections including troubleshooting model calculations
• Analyze model output ensuring accuracy with intended model purpose

Risk and Investments tasks:

• Update quarterly stress testing results and compare versus risk appetite and limit
• Monitoring investment portfolio to ensure compliance with guidelines and limits
• Monitor asset and liability duration, report mismatches outside of tolerance
• Prepare weekly hedging file, monitor hedge position and results
• Assist with competitive analysis and manager performance benchmarking

Ancillary Responsibilities:

• Assess reasonableness of reserves as new blocks of business are acquired
• Assess product features and determine product management strategies as new blocks of business are acquired
• Build efficiencies through programming solutions in all aspects of model input and output data manipulation
• Assist in the development and production of the Own Risk and Solvency Assessment
• Assess the impacts of an alternate investment or reinvestment strategy
• Serve as SME to actuarial data warehouse development, operations, IT, customer support and other functions
• Assist in the development of optimization macros to improve hedging and ALM efficiency

Qualifications

• BS in Actuarial Science, Mathematics, Finance, Statistics, or related area
• ASA designation or near ASA designation
• 2-5 years of full-time insurance actuarial experience. Modeling, analyzing, reporting experiences preferred.
• Demonstrated ability with Actuarial software (e.g., AXIS, MG-ALFA, ARCVal)
• Experience managing project(s) and/or significantly contributing to the completion of team-oriented tasks.