Actuary Managing ASA

Job Summary

• Performs actuarial analysis and coordinates recommendations for implementing changes due to regulatory and management reporting requirements.
• Coordinates development and implementation of new products.
• Oversees the completion of the actuarial portions of the various financial statements.

Essential Job Functions

• Initiates, analyzes, recommends and implements appropriate revisions in actuarial methods and assumptions in areas with significant financial impact.
• Works independently to develop and implement appropriate solutions to actuarial issues. Acts as project lead, where assigned, assigning project work, managing workflow and providing feedback to management to enable appropriate modifications to and timely completion of projects.
• Represents the Actuarial Department through participation in inter-departmental meetings and committees.
• Prepares and interprets data and related formulae for management.
• Analyzes operations to recommend improvement for control and/or efficiency.
• Designs and conducts training and development of professional actuarial personnel as assigned to maintain efficient and accurate completion of projects.
• Leads FLI participation in external examinations by the I.R.S., state Insurance Departments, and internal audit committees.
• Coordinates with external, hired experts.
• Coordinates with appropriate Home Office and Zurich Departments on requests for information and relevant reporting issues.
• Analyzes proposed and existing products, develops appropriate formulas, and directs the calculation of nonforfeiture values, premiums, commission rates, reserves, and proposal and disclosure values for new and existing products. Develops, extends, and maintains the profit study, reserve, and nonforfeiture value calculation programs.
• Directs the implementation of new products on administration and proposal systems.
• Directs audits of the plan description file, and coordinates changes.
• Responsible for the timely and accurate delivery of actuarial portions of financial statements.
• Maintains actuarial valuation systems to be consistent with End-User computer standards, including required changes as necessary due to IT system changes, product changes, and regulation changes.
• Collaborates with IT to ensure new ZFS/FIG/FNWL processes and procedures are correctly reflected in the actuarial valuation systems.
• Provides system programming/data generation support to other actuaries and departments to generate policy data information used in analysis and decision-making.
• Researches, analyzes and recommends necessary changes and additions to mainframe and PC software, as well as End-User computer standards as a result of capacity constraints and procedural or technological changes.
• Directs and analyzes actuarial research and experience studies and prepares reports to management.
• Directs the development of actuarial assumptions used in models for projecting future experience.
• Analyzes agent compensation systems and recommends changes where appropriate to maintain profitability and competitiveness.
• Directs the preparation of reports and financial projections to provide management with information needed to monitor and evaluate the impact of business decisions on profits.
• Promote s safety at all times and complies with safety/ergonomic standards as outlined in relevant company published manuals.
• Performs other duties as assigned.

Physical Actions

Physical Environment

Education Requirements

Experience Requirements

• Five years of actuarial experience including two years as an Associate Actuary, Actuarial Assistant or the equivalent.
• Actuarial Modeling Software (ex: MG-AlFA, Prophet, Axis) experience.
• Recent product development experience in the Life space.

• Farmers offers a competitive salary commensurate with experience, qualifications and location
• CO Only: The pay range for this job being performed in CO would be $90,800 - $121,000
• Bonus Opportunity (based on Company and Individual Performance)
• 401(k)
• Medical
• Dental
• Vision
• Health Savings and Flexible Spending Accounts
• Life Insurance
• Paid Time Off
• Paid Parental Leave
• Tuition Assistance
• For more information, review “What we offer” on https://www.farmers.com/careers/