Life Associate Actuary

Job Description:

The Regulatory Affairs division of the National Association of Insurance Commissioners (NAIC) has an exciting opportunity for a Life Associate Actuary. This position analyzes extensive industry data related to life insurance and annuities. This role involves data processing, analysis, and communication. Additional duties include staff support, actuarial modeling, and continuous technical skill development to meet evolving needs. This is a full-time remote position which requires residency within the United States.

Responsibilities Include

• Provide support for NAIC Valuation Analysis (E) Working Group (VAWG). Review and analyze company principle-based reserve (PBR) Actuarial Reports, Actuarial Opinion Memorandums, or filings for Actuarial Guidelines. Assist as needed in other VAWG support work.
• Provide support for one or more subgroups of the NAIC Life Actuarial (A) Task Force (LATF). Plan meetings by coordinating with the chair to produce agendas, presentations, and work plans. Schedule meetings and serve as moderator. Produce minutes and summaries in accordance with the established methodologies and deadlines. Assist as needed in other LATF support work.
• Become a subject matter expert on sections of the Valuation Manual that provide specifics on PBR (VM-20, VM-21, VM-22, VM-31) and experience reporting requirements (VM-50 and VM-51). 
• Provide actuarial expertise in the form of research, analysis, and recommended interpretation of various issues related to the Valuation Manual.
• Assist in the collection and processing of confidential annual life insurance mortality experience data filings from companies representing a high percentage of the industry. Review of individual company results. Assist in developing approaches to review aggregated data fields for reasonableness. Maintain confidentiality of data and assist with data governance.
• Participate in training to gain expertise in AXIS modeling software. Support development of model office and model governance procedures. Prepare documentation for the model offices maintained by the NAIC. Perform model office analysis utilizing NAIC’s Life, Variable Annuity, and Non-Variable Annuity model offices as assigned.
• Apply sound actuarial principles; maintain actuarial qualifications; and adhere to the Standards of Practice as promulgated by the Actuarial Standards Board.

Management Responsibilities

This position is responsible for the performance of a team of direct reports including P&C Insurance Specialists.

Minimum Education and/or Experience Required

• Bachelor’s degree in actuarial science, Mathematics, Statistics, or similar degree from an accredited college or university and at least 5 years of actuarial experience or an equivalent combination of education and experience.
• Associate of the Society of Actuaries

Preferred Experience

• Experience with PBR valuation, cash flow testing, reinsurance, assets, and governance.
• Proficiency with data visualization (e.g. Tableau) and statistical software (e.g., SAS, R, Python).
• Experience with actuarial modeling software.

Systems & Technology Requirements

Microsoft Office Suite/365

Travel

This position requires regular, out-of-state, overnight travel in support of member meetings and events throughout the year. An ideal candidate must be able and willing to travel to locations throughout the United States and with such frequency as necessary to meet the needs of this position and the Association.

Compensation

$122,000 - $150,000, commensurate with education and experience. 

Sponsorship

Applicants must be authorized to work for any employer in the U.S. We are unable to sponsor or take over sponsorship of an employment Visa at this time.

Interested in learning more about the amazing benefits the NAIC offers? Visit our Benefits page for more information.