Actuary, Model Development

Employer
Legal & General America
Location
Frederick, MD
Posted
Mar 17, 2017
Closes
Mar 23, 2017
Function
Accountant, IT
Hours
Full Time
How do we make Every Day Matter? At Legal & General America, we strive to create that unique environment where balance between work and life is possible. Imagine that! Integrity, quality and value are behind every business decision we make and are at the forefront of what drives us. We genuinely care about our customers, agencies, fellow employees and local community. We set big goals for ourselves, personally and professionally. Reaching them means seizing the day, challenging ourselves and making Every Day Matter. Pretty simple concept, if you ask us.Primarily responsible for the creation and maintenance of actuarial models for our fast growing Pension Risk Transfer (PRT) business, including those used in Corporate Planning, Embedded Value, Economic Capital, Cash Flow Testing, and Valuation (Stat, GAAP, Tax), as well as accurate and timely reporting of model results. In the initial stage, build models for Pension Risk Transfer (PRT) business primarily in GGY AXIS for a variety of purposes, including Economic Capital, Embedded Value, Value of New Business, Cash Flow Testing, Corporate Planning/Forecasting, and Valuation (Stat, GAAP, Tax). Ensure implementation of models complies with satisfactory standards and timeframes.Communicate with all stakeholders to ensure that models built will appropriately reflect the design of deals, the risk of business, and fit for the purposes of all the modeling requirements. Customize AXIS reports and reporting tools to produce the required model output. After the implementation, be responsible for ongoing model maintenance, version upgrade, model enhancements, model documentation, and adding new deals to the models whenever a deal is added to the book. Run models or assist in modeling for all the production work requirements, depending on the resource needs of each reporting cycle.Ensure model control is maintained around production models, to prevent unauthorized changes and ensure integrity of model results. Maintain detailed documentation of all changes made to models, including impacts under key reporting bases and evidence of management approval.Identify and implement process improvements, including automation of manual tasks where possible, to increase efficiency and transparency while minimizing the risk of errors.Peer review AXIS models developed by other developers.Other duties as required.Education BS/BA Math/Statistics. Fellow, Society of Actuaries Experience/Knowledge 10 years of life insurance/actuarial experience Pension buyout or payout annuity experience strongly preferred. Model development or modeling experience. Experience in multiple accounting methods (statutory, GAAP/IFRS, economic capital, Solvency II, embedded value) preferred. Skills Actuarial software skills - GGY AXIS experience is a key requirement (datalink coding experience required), MG-ALFA and/or MG-Triton experience a plus.Spreadsheet and database capabilities (Excel, MS Access, VBA, and SQL). Strong actuarial analytical skills and problem solving abilityStrong written and oral communication skills. Ability to multi-task in a deadline-oriented environment