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The Vice President, Valuation Actuary will oversee the actuarial valuation and financial reporting for one of Reliance’s key business segments – Group Benefits. This role will lead a team of 5-7 actuaries and be responsible for the actuarial financial close process under GAAP, Statutory, and IFRS 17. This role will also be responsible for developing and implementing corporate models, updating reserve assumptions, and providing financial evaluation of risk that can be used for strategic management decisions. The ideal candidate will also have experience with valuation of annuity products or be willing to learn as this role will be the designated successor to the VP, Valuation & Appointed Actuary.
Responsibilities
Leads valuation of Reliance Matrix’s reserves ensuring they are completed timely, coordinated, and reviewed with management & Reserve Committee and in accordance with appropriate accounting standards including GAAP, IFRS 17, and Statutory
Reviews valuation assumptions and methodologies and recommends changes when necessary
Oversees reserve adequacy for all Group Benefits products
Prepares presentations and communicates reserving results and underlying support details to TMHD, DFG, and RM senior leadership
Participates in model governance, internal controls, and audit readiness activities and servers as the primary contact for reserving communications and discussions with both internal and external auditors
Evaluates and communicates critical emerging trends affecting valuation reserves and coordinates with pricing actuaries, as applicable
Build, develop, and maintain models as well as generate, analyze and report results as needed
Responsible for ensuring that actuarial standards of practice are applied to models
Responsible for evaluation of models to enhance better predictions
Regularly utilize very complex/calculation intensive models with strong computational power
Regularly monitor updates to principle based reserving and update as necessary
Responsible for ensuring models are compliant with applicable regulatory requirements and adjust as needed
Responsible for being the lead actuarial contact for state exams
Accountable for performance of team of actuarial professionals that support key business segment at Reliance Matrix.
Engages team members in talent management and development opportunities, and builds a positive and respectful work environment
Makes personnel decisions on hiring, firing, discipline, transfer, advancement, and promotion in accordance with company policies and procedures
Manages the responsibilities/priorities of the actuarial valuation team
Models and drives RM’s values
Coordinates with TMHD to leverage actuarial rotational program participants among RM staffing, as available and applicable
Requirements
Fellow of the Society of Actuaries (FSA)
Membership in the American Academy of Actuaries (MAA)
Minimum of 10 years of directly related actuarial experience with Group Benefit insurance, including Long Term Disability, Short Term Disability, Group Life, and supplemental health products
Familiarity with IFRS 17, GAAP, and Statutory accounting basis
Strong analytical and technical skills related to data analysis, modeling, and risk management techniques
Strong oral and written communication skills and ability to prepare and deliver presentations to senior management
Ability to Travel: Up to 10%
Nice-to-haves
Experience with annuity valuation is a plus
Prior experience in working with senior management and/or Board of Directors a plus
Benefits
An annual performance bonus for all team members
Generous 401(k) company match that is immediately vested
A choice of three medical plans (that include prescription drug coverage) to suit your unique needs. For High Deductible Health Plan enrollees, a company contribution to your Health Savings Account
Multiple options for dental and vision coverage
Company provided Life & Disability Insurance to ensure financial protection when you need it most
Family friendly benefits including Paid Parental Leave & Adoption Assistance
Hybrid work arrangements for eligible roles
Tuition Reimbursement and Continuing Professional Education
Paid Time Off – new hires start with at least 20 days of PTO per year in addition to nine company paid holidays. As you grow with us, your PTO may increase based on your level within the company and years of service.
Volunteer days, community partnerships, and Employee Assistance Program
Ability to connect with colleagues around the country through our Employee Resource Group program
