| Job Description | Job Number: 140000019
COUNTRY Financial has been a leader in providing auto, home and life insurance for more than 85 years and today we also satisfy the investment needs of businesses and individuals. In our offices and in all of the neighborhoods we serve, our company supports diversity as we strive to be the best insurance and financial services company of this and future generations.
Our Actuarial Analyst II Modeling performs monthly, quarterly, and annual valuation and financial reporting tasks for life, annuity, and health lines of business, gathers data and information for assistance in performing financial projections, asset adequacy analysis, and experience studies, and helps to develop Prophet models.
Primary Duties and Responsibilities:
Assists in the monthly valuation and financial reporting process. As part of that process, downloads monthly valuation data and runs and maintains programs and software to calculate statutory and tax reserves for all lines of business. Performs other monthly calculations, and assists in developing and creating reports.
Understands all in-force life, annuity, and health insurance products of the company in order to value product liabilities and project future product cash flows and financial statements. Understands main product benefits, premium streams, modeling assumptions, reinsurance programs, reserve calculations, etc.
Assists in moving new products, benefits and riders from pricing models to valuation routines and in-force modeling systems.
Helps to develop Prophet models. These models are used to perform Asset Adequacy Testing, Dividend Scale analysis and reserve calculations for in-force products.
Uses acquired knowledge to develop and write PC programs, maintain efficient spreadsheets and maintain actuarial databases.
Assists with projecting asset cash flows and analysis of fixed income investments.
Assists in performing experience studies to analyze mortality, morbidity, lapse, and surrender experience.
Understands how company data is stored on all the various mainframe and server systems for all lines of business so that information can be looked up and obtained when needed.
Understands basics of insurance company Accounting Practices and Procedures. Understands accounting concepts related to company income statement and balance sheets to ensure the reserves and other items calculated by the financial actuarial department are correctly reflected in the financial statements. Basic understanding of Statutory and Tax Reserve regulations and Actuarial Standards of Practice.
Gathers data to assist department in tracking financial results.
Participates in actuarial study program and makes consistent progress toward ASA designation.
Required Skills:
Education
Education equivalent to a Bachelors degree or equivalent in related work experience.
Completion of two Society of Actuaries examinations towards designation as an Associate of the Society of Actuaries and a Member of the American Academy of Actuaries.
Experience
One or more years of life insurance company actuarial work experience with strong work performance.
Knowledge
Knowledge of life insurance company valuation standards and generally accepted actuarial standards of practice.
Skills
Ability to work independently under supervision of the Associate Valuation Actuary.
Able to bring a project group together for evaluation and discussion of ideas.
Strong analytical skills.
Possesses skills with actuarial formulas, tables, and methodology normally obtained by actuarial science education or initial Society of Actuaries examinations.
Excellent knowledge of computer skills, including Microsoft Access (for example, developing queries), Microsoft Excel (for example, developing pivot tables) and Visual Basic for Applications.
Effective communication of actuarial valuation and financial reporting concepts, modeling processes and financial income statement review.
Ability to work effectively as part of team to ensure overall success of the actuarial department.
Preferred Skills:
Education
Bachelors degree in mathematics or actuarial science.
Completion of three or more Society of Actuaries examinations towards designation as an Associate of the Society of Actuaries and a Member of the American Academy of Actuaries.
Experience
Three or more years of life insurance company actuarial work experience with strong work performance.
Knowledge
Knowledge of actuarial modeling software for projecting product liabilities.
Knowledge of life insurance company valuation standards and generally accepted actuarial standards of practice. |
| | Company | | Country Financial | Job Code | | State or Province | | Illinois | | |
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