Associate Director & Actuary

Who We Are

At Corebridge Financial, we believe action is everything. That’s why every day we partner with financial professionals and institutions to make it possible for more people to take action in their financial lives, for today and tomorrow.

We align to a set of Values that are the core pillars that define our culture and help bring our brand purpose to life:

• We are stronger as one: We collaborate across the enterprise, scale what works and act   decisively for our customers and partners.
• We deliver on commitments: We are accountable, empower each other and go above and beyond for our stakeholders.
• We learn, improve and innovate: We get better each day by challenging the status quo and equipping ourselves for the future.
• We are inclusive: We embrace different perspectives, enabling our colleagues to make an impact and bring their whole selves to work.

About The Role

We currently seek an Associate Director and Actuary to support the Corebridge Insurance Company of Bermuda (CICB) Chief Actuary. This position will report directly to the CICB Chief Actuary and will work closely with the CICB cross-functional team and CICB management team, providing actuarial and finance support.

CICB is an important part of Corebridge’s strategic objectives, providing opportunities for enhanced returns. As such, CICB has experienced significant growth in the past few years that is expected to continue. It currently consists of life insurance and individual fixed deferred and indexed annuity business and CRBG plans to explore reinsurance arrangements with other products as well. As CICB grows, the role will be involved in enhancing and maturing the CICB infrastructure, including modeling, financial reporting, and governance and controls. This position is an exciting opportunity to grow with the company.

Responsibilities

A primary responsibility of this role is to support and eventually lead CICB’s quarterly forecasting and new product reinsurance pricing through deal model analysis. In addition, the role will support the valuation of CICB’s business by reviewing and understanding model results under the Bermuda Monetary Authority’s (BMA’s) Scenario Based Approach (SBA) framework, as well as preparing financial analytics. Knowledge of the BMA’s SBA and other BMA regulations will be ideal.

The role will work closely with the CICB Chief Actuary and CICB Model Owners to prepare analysis and clearly communicate financial risks and impacts with CICB management. The position’s focus will include the following efforts: 

• Budgeting / Forecasting – Translate earnings understanding into meaningful Statutory Financial Statements (SFS) and Economic Balance Sheet (EBS) budgets and forecasts. Currently using existing tools and later working with the modernization team to develop enhanced tools and processes

• New Product Reinsurance Pricing – Provide analysis of new products under the BMA framework vs. the US framework using deal models and appropriate assumptions

• Best Estimate Liability (BEL) Analysis - Support high quality and value-added analysis of CICB’s Best Estimate Liability and Risk Margin, including attribution and explanation of periodic changes and sensitivities through “sandbox” model runs for CICB’s SBA models

• Support analysis of CICB’s SFS and EBS – develop understanding and communicate earnings drivers for CICB lines of business, including Source of Earnings analysis, strain analysis, and pricing vs. actuals.

Skills and Qualifications

• Preferred to have a Fellow of the Society of Actuaries (FSA) or similar designation. However, not required.

• 5 + years of progressively more responsible actuarial experience 

• Ideal candidate will have a background in life insurance, annuities, reinsurance, and Bermuda regulations. Not required.

• Cross-functional experience desired (modeling, valuation, experience studies, ALM)

• Demonstrated success working in cross-functional collaborative teams

• Strong problem solving and analytical skills, including using Excel and other tools

• Highly motivated and results-oriented

• Ability to work independently and manage multiple priorities simultaneously

• Strong oral and written communication skills

• Goal oriented and well-organized, with the ability to develop and manage disciplined processes

• The ideal candidate will have modeling experience, an understanding of the key profit drivers for a variety of products, along with knowledge of the US GAAP, statutory, and Bermuda valuation frameworks. Not required.

• Willingness to learn, collaborate and deliver outstanding service while balancing multiple priorities.

• The candidate must have excellent communication skills and the ability to interact with both business partners and business unit actuaries effectively.

Compensation

Corebridge also offers a range of competitive benefits as part of the total compensation package, as detailed below.

Work Location

If the position is based in one of Corebridge Financials' hub offices which are Houston, TX, Jersey City, NJ. or Woodland Hills, CA office the role is subject to our hybrid working policy, which gives colleagues the benefits of working both in an office and remotely. However, we are open to considering full remote candidates outside of these areas.

#LI-SB1  #LI-SAFG #LI-Remote

Why Corebridge?

At Corebridge Financial, we prioritize the health, well-being, and work-life balance of our employees. Our comprehensive benefits and wellness program is designed to support employees both personally and professionally, ensuring that they have the resources and flexibility needed to thrive.

Benefit Offerings Include:

• Health and Wellness: We offer a range of medical, dental and vision insurance plans, as well as mental health support and wellness initiatives to promote overall well-being.
• Retirement Savings: We offer retirement benefits options, which vary by location.  In the U.S., our competitive 401(k) Plan offers a generous dollar-for-dollar Company matching contribution of up to 6% of eligible pay and a Company contribution equal to 3% of eligible pay (subject to annual IRS limits and Plan terms). These Company contributions vest immediately.
• Employee Assistance Program: Confidential counseling services and resources are available to all employees.
• Matching charitable donations: Corebridge matches donations to tax-exempt organizations 1:1, up to $5,000.
• Volunteer Time Off: Employees may use up to 16 volunteer hours annually to support activities that enhance and serve communities where employees live and work.
• Paid Time Off: Eligible employees start off with at least 24 Paid Time Off (PTO) days so they can take time off for themselves and their families when they need it.

Eligibility for and participation in employer-sponsored benefit plans and Company programs will be subject to applicable law, governing Plan document(s) and Company policy.

We are an Equal Opportunity Employer

Corebridge Financial, is committed to being an equal opportunity employer and we comply with all applicable federal, state, and local fair employment laws. All applicants will be considered for employment based on job-related qualifications and without regard to race, color, religion, sex, gender, gender identity or expression, sexual orientation, national origin, disability, neurodivergence, age, veteran status, or any other protected characteristic. The Company is also committed to compliance with all fair employment practices regarding citizenship and immigration status. At Corebridge Financial, we believe that diversity and inclusion are critical to building a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our colleagues are respected as individuals and valued for their unique perspectives.

Corebridge Financial is committed to working with and providing reasonable accommodations to job applicants and employees, including any accommodations needed on the basis of physical or mental disabilities or sincerely held religious beliefs.  If you believe you need a reasonable accommodation in order to search for a job opening or to complete any part of the application or hiring process, please send an email to TalentandInclusion@corebridgefinancial.com.  Reasonable accommodations will be determined on a case-by-case basis, in accordance with applicable federal, state, and local law.

We will consider for employment qualified applicants with criminal histories, consistent with applicable law.

To learn more please visit: www.corebridgefinancial.com

Functional Area:

AC - Actuarial

Estimated Travel Percentage (%): No Travel

Relocation Provided: No

American General Life Insurance Company