Aegon Asset Management Associate Actuary (Level 3) – IFRS VA Valuation Actuary in Cedar Rapids, Iowa
Job Description SummaryDirects and provides leadership in the IFRS valuation of variable annuities with the potential to oversee a small team within the actuarial department.Job Description
Lead the preparation and analysis of IFRS attribution and reporting for variable annuity business for management with the goal of explaining and developing comprehensive analytics for the drivers of variance between actual results and expected as well as quarter to quarter changes.
Provide reports and analysis of the IFRS liabilities due to market movements, updates to methods and/or assumptions, policyholder behavior and other. Collaborate with ALM team to understand the impacts of hedging on financial results.
Lead and/or participate in discussions and analysis to provide subject matter expertise regarding technical actuarial issues such as modeling methodology, reserving principles and changes to valuation standards, laws, and regulations applicable to variable annuities (such as IFRS 17 implementation). Monitor and analyze developments in actuarial techniques, laws, and regulations applicable to annuities and recommend appropriate reaction to these developments.
Lead the management of backend tools supporting the IFRS attribution and reporting process. Enhance current process with the goal of improving efficiency, accuracy, and reliability.
May manage and motivate a small team of employees.
FSA or equivalent professional designation along with Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Economics or related field and 6 years of relevant experience.
In lieu of Bachelor's, will accept Master's in a listed discipline and 4 years of relevant experience.
In lieu of FSA will accept ASA or equivalent professional designation and 10 years of relevant experience.
Demonstrates high quality leadership, judgment, organization, and prioritization skills.
Effectively communicates, both verbally and in writing, advanced mathematical and analytical concepts to various audiences.
Works well under pressure and within time constraints to effectively accomplish individual and team objectives.
Excellent computer skills.
Proficient in MS Excel, Visual Basic or any programming language.
Knowledge of database software such as MS Access, SQL, etc.
Knowledge of financial statements, such as income statements and balance sheets.
Experience with actuarial modeling software such as ALFA, Moses, TAS, etc. is a plus.
Experience with financial reporting and/or variable annuities is a plus.
Develop a comprehensive understanding of variable annuity financials and key drivers – market movement, policyholder behavior, model assumptions and methodology, hedge strategy, reinsurance and other financial structures.
Exposure to International Financial Reporting Standards (IFRS) reserving methodology and reporting.
Exposure to actuarial modeling platforms such as ALFA.
Opportunity to drive a reporting process from start to finish.
Opportunity to manage a small team.
*Please note that the compensation information that follows is a good faith estimate for this position only and is provided pursuant to the Colorado Equal Pay for Equal Work Act and Equal Pay Transparency Rules. It is estimated based on what a successful Colorado applicant might be paid. It assumes that the successful candidate will be in Colorado or perform the position from Colorado. Similar positions located outside of Colorado will not necessarily receive the same compensation. *
The salary for this position generally ranges between $112,000-$135,000. This range is an estimate, based on potential employee qualifications, operational needs and other considerations permitted by law. The range may vary above and below the stated amounts, as permitted by Colorado Equal Pay Transparency Rule 4.1.2.
This position is also typically eligible for an Annual Bonus based on the Company Bonus Plan/Individual Performance and is at Company Discretion at a rate of 15%.
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Transamerica Life Insurance Company is an Equal Employment Opportunity employer and does not discriminate against any applicant or employee because of age, religion, sex, gender identity, genetic information, race, color, national origin, pregnancy, sexual orientation, marital status, participation in the uniformed services (e.g. U.S. Armed Forces, National Guard), physical or mental disability, or any other status protected by federal, state, or local equal employment opportunities laws.
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