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Director and Actuary - Inforce Management

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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 - Inforce Management.

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

 

You will be responsible for the Inforce Management function for the Life Division. Lead a team of actuaries and/or analysts to execute on the Inforce Management Strategy.  Develop a thorough understanding of the Life Division’s inforce blocks of business with a keen awareness of the financial impact of those blocks on life earnings. Seek new opportunities to enhance life earnings through Inforce Management.  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. This role is accountable for developing and growing direct reports and other team members.

  1. Provide leadership for the inforce management function and assist in the development and implementation of the Inforce Management Strategy for the Life Division. 
  2. Identify and analyze new Inforce Management processes.  Understand impacts to all areas of the organization.  Lead implementation, working with both technical and non-technical individuals.
  3. Collaborate with the VP, Reinsurance and Inforce Management to lead the Interest Rate Committee meetings and develop recommendations for any needed rate action.  Work with implementation teams to ensure that new rates are implemented correctly and are appropriately communicated to the field.
  4. Ensure that actuarial models used in the Life Product Development area are consistent with models used in the Corporate Actuarial area.  Serve as a liaison between the Life Pricing and Design teams and the Corporate Modeling teams in regards to actuarial models.    
  5. Oversee ongoing modeling needs for the Life Division including annual testing for certification of the Illustration Model Regulation and SEC Reasonableness Testing. 
  6. Serve as the representative of the Life Division in setting actuarial assumptions.  Oversee the impact testing of proposed assumptions and work with Pricing and Design teams and Department head to set final assumptions for both pricing and inforce management.
  7. Ensure documentation and formal reports are prepared in accordance with Actuarial Standards of Practice and appropriately considers Legal and Compliance input. Develop strong documentation practices within the team.
  8. Develop strong relationships. Collaborate with other departments and business units. Effectively communicate with both technical and non-technical co-workers. Prepare and present materials that are appropriate for the intended audience.
  9. Actively follow trends in the life insurance industry, the economy and the regulatory and competitive environments.  Be aware of leading edge practices in inforce management and develop a case for change when appropriate.
  10.  Recruit, develop and retain a qualified staff to perform the inforce management functions. Create and maintain a departmental environment which embraces the corporate shared values, Sammons Leadership Series (SLS) principles, a Sammons First mindset, and emphasizes our high-performance culture.
  11. Develop and manage a team of actuaries and/or analysts. Manage and lead multiple projects. Effectively plan and prioritize the 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. 

 

QUALIFICATIONS

  • Bachelor degree in Mathematics, Business or Actuarial Science with a high level of demonstrated mathematical ability
  • FSA preferred. Will consider near-FSA actively pursuing completion of FSA
  • Prefer at least 8-10 years of experience in the field of Actuarial Science; Life product and inforce management experience preferred
  • 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 insurance and inforce management
  • 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
  • Ability to work effectively in an office environment
  • Must champion and effectively shadow the SFG values (Respect, Accountability, Integrity and Openness)
  • Due to the financial nature and level of accountability of this position, a credit and criminal background check is required

 

 


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