Pricing Actuary

Country: United States

City: Philadelphia

Department: Actuarial

Contract type: Full-Time

Publication date: 1/19/2017

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Job description

Position Summary

The Pricing Actuary is responsible for pricing activities within the U.S. region for all Lombard products including Variable Universal Life, Individual Variable Annuities, Group Variable Annuities and Bank Owned Life Insurance/Company Owned Life Insurance. The candidate will frequently collaborate with various departments including sales, finance, etc. to price new and inforce products while also quantifying the impact of various potential pricing opportunities. 

Responsibilities

  • Responsible for pricing and product development of all new Lombard products and repricing current inforce business
  • Identify and implement new methods to track key pricing metrics for management review & company-wide decisions
  • Monitor inforce product experience and incorporate information into ongoing pricing updates
  • Develop pricing-related components of regulatory filings (actuarial memorandums, etc.)
  • Support business unit to  meet or exceed pricing and profit goals
  • Work closely with sales, finance, underwriting, and other departments within Lombard
  • Recognize potential opportunities to adjust pricing and profitably for prospective clients
 Desired Skills and Experience
  • Ability to use profit metrics and company’s strategic goals to accurately and competitively price the overall insurance portfolio
  • Strong understanding of separate account insurance products (individual and group variable life and annuity) and related regulatory requirements
  • Significant pricing experience using modeling software (ALFA, AXIS, etc.)
  • Regulatory product-development related support
  • Familiarity with valuation principles and lifetime value concepts for Variable products
  • Direct support of a business unit to strategically drive product development and pricing
  • Experience collaborating with different departments on far-reaching, cross-functional projects and transformational corporate initiatives
  • Ability to manage and develop actuarial staff
  • Ability to balance and manage multiple priorities simultaneously
  • Experience with private placement insurance products and related investment structures a plus
Requirements
  • Fellow of the Society of Actuaries (FSA)
  • Member, American Academy of Actuaries (MAAA)
  • 10+ years of experience in pricing VUL, Individual Annuities, Group Variable Annuities
  • Excellent written and oral communication skills
  • The ability and desire to work well with other actuaries, underwriters and sales team members in a collaborative and open manner
  • Strong communication skills with the ability to convey technical concepts to management and other functional areas
  • Self-motivated and strategic mindset with strong critical thinking skills
  • Prior management experience a plus

NOTE: This job description is not intended to be all-inclusive. Employee may perform other related duties as negotiated to meet the ongoing needs of the organization.

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