Experienced Life and Annuity Actuary - Remote
Company: USAA
Location: Phoenix
Posted on: April 28, 2024
Job Description:
Why USAA?Let's do something that really matters.
At USAA, we have an important mission: facilitating the financial
security of millions of U.S. military members and their families.
Not all of our employees served in our nation's military, but we
all share in the mission to give back to those who did. We're
working as one to build a great experience and make a real impact
for our members.
We believe in our core values of honesty, integrity, loyalty and
service. They're what guides everything we do - from how we treat
our members to how we treat each other. Come be a part of what
makes us so special!The OpportunityAs a dedicated Experienced Life
and Annuity Actuary, you will work on the Life Actuarial Valuation
team in USAA's Chief Financial Office. They will work to develop
models, calculators, tools, processes, and controls for Deposit
Asset Accounting, Life Reinsurance Current Expected Credit Losses
(CECL), and Risk Based Capital (RBC).This position can work
remotely in the continental U.S. with occasional business
travel.What you'll do:
- Performs complex and often unique work assignments utilizing
actuarial modeling software driven models for pricing, valuation,
and/or risk management.
- Reviews laws and regulations to ensure all processes are
compliant and provides recommendations for improvements. Monitors
industry communications regarding potential changes to existing
laws and regulations.
- Shares knowledge with team members and serves as a key resource
to entire team, including leadership, on escalated issues and
navigates obstacles to deliver work product.
- Serves as a Subject Matter Expert in one or more key areas,
such as Product Pricing, Reserving, Economic Capital, Modeling,
Asset Liability Management, etc.
- Leads a project team on complex assignments through concept,
planning, execution, and implementation phases involving cross
functional actuarial areas.
- Develops exhibits and reports that help explain
proposals/findings and provides information in an understandable
and usable format for stakeholders.
- Identifies and provides recommended solutions to business
problems independently, often presenting recommendation to
leadership.
- Maintains proper price level, price structure, data
availability and other requirements to achieve profitability and
competitive goals.
- Identifies critical assumptions to monitor and suggest timely
remedies to correct or prevent unfavorable trends.
- Tests impact of assumptions by identifying sources of gain and
loss, the appropriate premiums, interest margins, reserves, and
cash values for profitability and viability of new and existing
products.
- Ensures risks associated with business activities are
effectively identified, measured, monitored, and controlled in
accordance with risk and compliance policies and procedures.What
you have:
- Bachelor's degree; OR 4 years of related experience (in
addition to the minimum years of experience required) may be
substituted in lieu of degree.
- 6 years actuarial experience and attainment of Fellow within
the Society of Actuaries; OR 12 years relevant actuarial experience
and attainment of Associate within the Society of Actuaries.
- Subject Matter Expert in one or more key areas, such as Product
Pricing, Reserving, Economic Capital, Modeling, Asset Liability
Management, etc.
- Experience leading a project team on complex assignments
through concept, planning, execution, and implementation phases
involving cross functional actuarial areas.
- Demonstrated experience preparing effective documentation,
facilitating training and development, and presenting to various
levels of management.What sets you apart:
- Proficient in Python or R
- Experience with reinsurance transactions
- Deposit Asset Accounting experience
- Able to translate actuarial and accounting concepts into
proficient and portable code
- Experience with projecting RBC
- Experience with CECL
- Experience with FRB SR 11-7The above description reflects the
details considered necessary to describe the principal functions of
the job and should not be construed as a detailed description of
all the work requirements that may be performed in the job.What we
offer:Compensation: USAA has an effective process for assessing
market data and establishing ranges to ensure we remain
competitive. You are paid within the salary range based on your
experience and market data of the position. The actual salary for
this role may vary by location. The salary range for this position
is: $138,230 - $264,200.Employees may be eligible for pay
incentives based on overall corporate and individual performance
and at the discretion of the USAA Board of Directors.Benefits: At
USAA our employees enjoy best-in-class benefits to support their
physical, financial, and emotional wellness. These benefits include
comprehensive medical, dental and vision plans, 401(k), pension,
life insurance, parental benefits, adoption assistance, paid time
off program with paid holidays plus 16 paid volunteer hours, and
various wellness programs. Additionally, our career path planning
and continuing education assists employees with their professional
goals.For more details on our outstanding benefits, please visit
our benefits page on USAAjobs.com.Applications for this position
are accepted on an ongoing basis, this posting will remain open
until the position is filled. Thus, interested candidates are
encouraged to apply the same day they view this posting. -USAA is
an Equal Opportunity Employer. All qualified applicants will
receive consideration for employment without regard to race, color,
religion, sex, sexual orientation, gender identity, national
origin, disability, or status as a protected veteran.
Keywords: USAA, Sun City West , Experienced Life and Annuity Actuary - Remote, Other , Phoenix, Arizona
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