Director and Actuary, Modeling-7718
Insurance company in the Midwest has a need for a Director and Assistant Actuary for the Corporate Actuary Modeling department. This position is responsible for ensuring quality development and maintenance for Corporate Actuarial models. The incumbent will be responsible for building and administering governance processes and modeling standards for the creation and maintenance of Corporate models. Additionally, the governance will extend to the management and controls for inputs that drive the model calculations. The position works with all Corporate Actuarial and Product areas to deliver model processes and calculations as required by those business areas. The main functions of the position will include: functioning as the Model Steward for Prophet model development and the implementation of liability and asset assumptions used in modeling software, delivering high integrity models to be used in various applications for regulatory requirements, financial reporting and business decisions, leading in software evaluation discussions with vendor, managing a model development team to build and maintain the Corporate Actuarial models residing in the Prophet software, holding primary responsibility for determining the model development schedule, ensuring that model governance standards and best practices are being met, serving as Chair on the Model Review Team, participating as a Model Subject Matter expert for Assumption Review Teams, accountability for business requirements and sign-off for all data needs for modeling purposes, administering consistent release management practices to communicate Corporate Model updates to all Prophet users within the company, ensuring compliance with security administration for software access for the Prophet software, maintaining an environment for archival of models used for external reporting and management decisions, leading discussions with IT to ensure full support of modeling software, including help desk, infrastructure, installations, software evaluations, and other associated tasks, recommending adoption of appropriate modeling best practices, and performance improvement techniques, participating in vendor user groups and periodic conference calls, managing and developing model development associates. Candidates should have strong actuarial modeling experience, preferably with Prophet software. Candidates should also have extensive knowledge of individual life, annuity, disability income and/or retirement plans products preferred, including fixed, variable and equity indexed products. Management and leadership experience is also required for the role.