Associate Vice President and Actuary, Capital Management

National Life Group • Montpelier, VT 05601

Posted 1 week ago

Job Description

Associate Vice President and Actuary - Capital Management

This position will be responsible for identifying opportunities to improve the organization's capital position, coordinating capital initiatives, and implementing of select capital initiatives. This position requires a breadth of product knowledge and actual experience as well as knowledge of regulatory and rating agency capital models, capital markets, and the ability to work effectively across an organization. This position reports to VP of Capital Management

Key Responsibilities:

Coordinate capital management activities with other areas

* Works with Life and Annuity product, valuation, and operational areas to identify opportunities to improve capital efficiency and/or generate capital for the organization

* Works with risk management to understand the relationship between risk and capital

* Prepares summary materials for Senior Management and Board of Directors as needed

* Works with rating agencies as needed

Enhances the capital position and returns of the enterprise

* Works with Corporate Development Team to identify, maintain inventory of, and prioritize opportunities to enhance NL Group's capital position. Projects will include third-party reinsurance, and structured capital markets solutions such as (A)XXX financing and alternative financing structures

* Provides valuation on blocks of business that could be disposed and help organization appreciate the tax, economic, GAAP, and statutory impacts

* Responsible for implementing selected initiatives to improve capital position and/or earnings

* Influence enterprise thought processes on Capital Management, Return On Capital (ROC), Cost of Capital, etc

* Works with Financial Management and Treasury on capital structuring as needed

Maintains knowledge of Capital models that may affect NL Group

* Works with Corporate Development team to monitor and gain knowledge of regulatory / rating agency capital models that currently or may in the future affect NLGroup (e.g. NAIC RBC, Solvency II, Basel III, and SIFI requirements)

* Regularly tracks current and projected statutory, GAAP, and tax differences by product/riders (reserves, DAC, etc.);

* Participates in industry groups related to capital management both to maintain awareness of potential changes and to influence industry direction

* Maintains information regarding capital positions of competitors and estimates how potential regulatory or rating agency changes might impact them.

Other

* Participates in traditional financing activities such as surplus note, long-term debt, or other issuances

* Involved in development of corporate development acquisition and divestiture activities to build up M&A framework

Job Requirements:

* 10+ years of experience in life insurance company

* FSA, ASA designation; CFA designation a plus

* Diversified actuarial experience including product management, valuation, reinsurance, and capital.

* Knowledge of both life and annuity products, with indexed product experience a plus

* Knowledge of NAIC RBC and S&P capital model.Knowledge of additional capital models desirable

* Familiar with insurance company financial statements (both statutory and GAAP)

* Experience with reinsurance, M&A, and/or capital markets transaction (e.g. securitizations or other financing) and the tax impacts of these activities

* Experience with economic capital a plus

* Inquisitive independently seeks out knowledge, ask relevant questions and clearly formulate and articulate opinions

* Comfortable with ambiguity and a track record of building effective working relationships across an organization

* Demonstrated success in driving complex projects to completion

* Ability to meet production deadlines and requirements

National Life Group is a trade name of National Life Insurance Company, Montpelier VT, Life Insurance Company of the Southwest (LSW), Addison TX, and their affiliates. Each company of National Life Group is solely responsible for its own financial condition and contractual obligations. LSW is not an authorized insurer in New York and does not conduct insurance business in New York.

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