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Director and Actuary - Reinsurance

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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, Reinsurance:

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

 

You will be responsible for the management of the mortality reinsurance function for the Life Division. Lead a team of actuaries and/or analysts to execute on the Life Mortality Reinsurance Strategy.  Represent SFG in engagement with external reinsurance partners.  Develop a thorough understanding of the Life Division’s use of reinsurance and the financial impact of reinsurance.  Oversee all aspects of acquisition, implementation and management of reinsurance. 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 mortality reinsurance function and the implementation of the Life Mortality Reinsurance Strategy. 
  2. Oversee the proposal and execution process for new reinsurance treaties.  Collaborate with the Life Reinsurance Oversight Committee to ensure that reinsurance partners are selected to optimize the value to SFG and treaties are written that limit exposure future risks.
  3. Possess a thorough understanding of how reinsurance is used by the Life Division. Assess the financial impact (Stat and GAAP) of reinsurance on SFG’s portfolio of life products. 
  4. Manage the reinsurance administration team.  Ensure new treaties and amendments are implemented on TAI accurately and in a timely manner.  Conduct regular audits to ensure ongoing accuracy of the TAI platform.  Develop processes and tools in line with best practices. 
  5. Evaluate potential reinsurance changes on the in force block and ensure that any changes are properly reflected in reinsurance treaties and administered correctly.  Assist in evaluating and responding to any changes in reinsurance rates initiated by reinsurance companies.  Evaluate options, recommend solutions and gain buy-in from SFG Leadership on any changes.
  6. Develop strong relationships both internally and with SFG’s reinsurance partners.  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.
  7. Actively follow trends in the life insurance industry. Utilize critical thinking skills to solve complex problems. 
  8. Recruit, develop and retain a qualified staff to perform reinsurance and reinsurance administration 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.
  9. 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. 

 

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 reinsurance 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 reinsurance
  • 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


Nearest Major Market: Des Moines

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