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Director and Actuary - Experience Studies

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Date: Jan 12, 2019

Location: West Des Moines, IA, US, 50266

Company: Sammons Financial Group

Sammons® Financial Group’s (SFG) member companies offer some of today’s most sought after life insurance, annuity, and retirement planning products. Unlike most financial organizations, our companies are not publicly traded, which means we’re focused on long-term value rather than short-term earnings pressures. As a privately held company, our leaders and employees remain consistently focused on long-term growth, making decisions that allow us to deliver on our commitments to customers, distribution partners, our employees, and our communities. Individually, our companies provide value in the products and services they offer. Together we represent a history of strength and longevity. 

 

Here is what you can expect when you join SFG:

  • A Casual dress code which includes jeans. 
  • A rich company culture driven by private ownership and intentional leadership that inspires employees to engage in our healthy, high-performing and values based culture.
  • Healthy balance between work and personal lives.  Friday afternoons off all year long, competitive PTO and generous number of paid holidays. 
  • Great benefits including medical, dental, vision, wellness plan, charitable giving programs, education assistance… to name a few!
  • ESOP- A generous 100% company funded retirement plan. 

 

Here's what you can expect as the Director, Experience Studies:

This position is either located in West Des Moines, IA, Sioux Falls, SD, Fargo, ND or Chicago, IL.

 

You will be responsible for an actuarial function that may support a specific business unit or may support multiple business units. Lead a team of actuaries and/or analysts to develop processes and tools in line with best practices. Oversee analysis and documentation, develop recommendations and present to management to drive decisions. Prioritize the team’s work, providing technical guidance and reviewing the results. Manage multiple projects and work collaboratively with other departments. Understand Sammons Financial Group (SFG) Member Companies’ and business unit financial goals and objectives and deliver results that support those objectives. Lead special projects as directed.

  1. Apply strong knowledge of SFG products, new business and in-force. Understand new products and make recommendations regarding how to incorporate into existing models and/or actuarial processes. 
  2. Apply strong knowledge of insurance contracts and actuarial related regulations to perform existing functions. Recommend enhancements to existing processes or develop new processes to accommodate regulatory changes. Oversee preparation and review of materials needed to comply with applicable regulations.
  3. Lead the identification, development and implementation of assumptions needed for actuarial calculations or financial projections. Leverage company data, industry data and/or any other information indicating a potential change in the future to justify recommendations for individual assumptions. Distinguish between best estimate and prudent assumptions. Oversee the use of actuarial models to understand and explain the impact of a change in assumptions. 
  4. Lead staff to create, understand and interpret complex financial models in line with best practices. Apply judgment over the choice of tools and models through an understanding of limitations and the use of the financial information produced.  Maximize efficiencies. Oversee and review analysis and explain the results of both deterministic and stochastic projections.  Ensure proper governance, peer review and documentation is completed.
  5. Leverage knowledge of accounting standards and other reporting requirements covering insurance liabilities and the assets backing liabilities to understand, analyze and explain financial reporting as needed. This includes balance sheets and income statements produced by actuarial models. Understand how model results compare to actual financials results, document and explain any differences that may impact conclusions drawn from the models. Assist in interpreting and implementing changes in accounting and/or actuarial standards.
  6. Lead staff to design and develop efficient data systems and oversee analysis of data. Recommend appropriate data analysis techniques given the nature of the analysis needed. Use expertise to advise and challenge multiple data analysis exercises.  Use key insights to make recommendations to management. Ensure proper governance and documentation is completed. 
  7. Understand relevant actuarial risks and their underlying drivers. Lead development of appropriate methods to monitor, measure and project risk exposure. Understand the implications of failing to manage risk. Provide leadership and direction to team to assist in developing risk mitigation techniques. Prepare and present risk analysis to management.
  8. Develop and manage a team of actuaries and/or analysts. Manage and lead multiple projects. Effectively plan and prioritize your team’s work in accordance with broader department objectives and priorities. Provide technical guidance to the team and review their work for accuracy. Execute performance management responsibilities on a timely basis. 
  9. Develop relationships and collaborate with other departments and business units. Collaborate and communicate effectively with other actuarial teams to ensure consistency in modeling approaches and assumptions across actuarial functions.
  10. Enhance and develop personal and professional skills through the Society of Actuaries’ continuing education requirements.  Attending actuarial-related conferences is strongly encouraged.

 

QUALIFICATIONS

  • Must have a Bachelor's degree, preferably in the area of mathematics, or a business related field

  • FSA preferred. Will consider near-FSA actively pursuing completion of FSA or career ASA
  • Prefer at least 8-10 years of experience in the field of Actuarial Science
  • Demonstrate a superior level of mathematical ability and attention to detail and strong analytical skills
  • Demonstrate strong computer skills including proficiency in the use of applicable technical tools
  • Demonstrate strong written and verbal communication skills including the ability to present highly technical information to non- technical audiences
  • Ability to apply insurance industry knowledge, preferably in the fields of individual life and annuities
  • Ability to identify and direct the analysis of problems or questions and provide recommendations to appropriate audiences
  • Experience leading projects and/or supervising work of others is preferred
  • Ability to work both individually and as part of a team
  • Highly organized with the demonstrated ability to prioritize multiple projects and to switch priorities as necessary
  • Due to the financial nature and level of accountability of this position, a credit and criminal background check is required


Nearest Major Market: Des Moines

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