Responsible for an actuarial function that may support a specific business unit or may support multiple business units. May lead a team of actuaries and/or analysts to develop processes and tools in line with best practices. Provide leadership, oversight, and direction on analysis and documentation, develop recommendations and present to management to drive decisions. Prioritize the team's work, providing technical guidance and reviewing the results.
Manage multiple projects and work collaboratively with other departments. Understand Sammons Financial Group (SFG) Member Companies' and business unit financial goals and objectives and deliver results that support those objectives. Lead special projects as directed.
What You'll Do In This Role
• Apply strong knowledge of SFG products, new business and in-force. Understand new products and make recommendations regarding how to incorporate into existing models and/or actuarial processes.
• Apply strong knowledge of insurance contracts and actuarial related regulations to perform existing functions. Recommend enhancements to existing processes or develop new processes to accommodate regulatory changes. Oversee preparation and review of materials needed to comply with applicable regulations.
• Lead the identification, development and implementation of assumptions needed for actuarial calculations or financial projections. Leverage company data, industry data and/or any other information indicating a potential change in the future to justify recommendations for individual assumptions. Distinguish between best estimate and prudent assumptions. Oversee the use of actuarial models to understand and explain the impact of a change in assumptions. Ensure assumptions and sources of underlying data are well documented.
• Create, understand and interpret complex financial models in line with best practices. Apply judgment over the choice of tools and models through an understanding of limitations and the use of the financial information produced. Maximize efficiencies. Oversee and review analysis and explain the results of both deterministic and stochastic projections. Ensure proper governance, peer review and documentation is completed.
• Leverage knowledge of accounting standards and other reporting requirements covering insurance liabilities and the assets backing liabilities to understand, analyze and explain financial reporting as needed. This includes balance sheets and income statements produced by actuarial models. Understand how model results compare to actual financials results, document and explain any differences that may impact conclusions drawn from the models. Assist in interpreting and implementing changes in accounting and/or actuarial standards.
• Design and develop efficient data systems and oversee analysis of data. Recommend appropriate data analysis techniques given the nature of the analysis needed. Use expertise to advise and challenge multiple data analysis exercises. Use key insights to make recommendations to management. Ensure proper governance and documentation is completed.
• Understand relevant actuarial risks and their underlying drivers. Lead development of appropriate methods to monitor, measure and project risk exposure. Understand the implications of failing to manage risk. Provide leadership and direction to team to assist in developing risk mitigation techniques. Prepare and present risk analysis to management.
• Manage and lead multiple projects. Effectively plan and prioritize work in accordance with broader department objectives and priorities. Provide technical guidance to the broader team and review their work for accuracy. Develop and manage team of actuaries and/or analysts, and execute performance management responsibilities on a timely basis, if applicable.
• Develop relationships and collaborate with other departments and business units. Collaborate and communicate effectively with other actuarial teams to ensure consistency in modeling approaches and assumptions across actuarial functions.
• Enhance and develop personal and professional skills through the Society of Actuaries' continuing education requirements. Attending actuarial-related conferences is strongly encouraged.
What We're Looking For
- Bachelor's Degree preferably in the area of mathematics, or a business related field Required
- 8-10 years' experience in the field of Actuarial Science Preferred
- Experience leading projects and/or supervising work of others Preferred
- Demonstrate a superior level of mathematical ability and attention to detail and strong analytical skills
- Demonstrate strong computer skills including proficiency in the use of applicable technical tools
- Demonstrate strong written and verbal communication skills including the ability to present highly technical information to non- technical audiences
- Ability to apply insurance industry knowledge, preferably in the fields of individual life and annuities
- Ability to identify and direct the analysis of problems or questions and provide recommendations to appropriate audiences
- Ability to work both individually and as part of a team
- Highly organized with the demonstrated ability to prioritize multiple projects and to switch priorities as necessary
- Ability to work effectively in an office environment
- Commitment to embrace SFG shared values (Respect, Accountability, Integrity, and Openness)
- FSA Will consider near-FSA or actively pursuing completion of FSA or career ASA Preferred
Other Requirements
• Due to the financial nature and level of accountability of this position, a credit and criminal background check is required.
What you can expect when you join Sammons Financial Group
• Sammons Financial Group offers a competitive benefit package that includes: Health, Dental, Vision, Company Paid Retirement, PTO and Holiday Pay.
• Our Employee Stock Ownership Plan (ESOP) is a 100% company-funded retirement plan, so you can save for retirement without contributing a penny of your own paycheck.
• Healthy balance between work and personal lives. Friday afternoons off all year long, competitive PTO, and generous number of paid holidays.
• Our incentive program for defined goals subject to eligibility and performance. Monetary rewards are based on individual and/or overall company performance.
• Colleagues who support one another, model our core values, and drive our healthy, high-performing culture.
Salary Range Information
USD $140,892.00 - USD $234,819.00 /Yr. Range includes data points from multiple labor markets. Specific range is dependent on the labor market where the incumbent will be hired to perform the position. Starting salary is dependent on candidate qualifications and experience. For a narrower salary range specific to your labor market, please inquire.
Work Authorization/Sponsorship
At this time, we're not considering candidates that need any type of immigration sponsorship now or in the future or those needing work authorization for this role (This includes, but is not limited to students on F1-OPT, F1-CPT, J-1, etc.)