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Associate Actuary
American International Group
Houston, TX, United States
Job Details - this job has expired, please see similar jobs below
Estimated Travel Percentage (%): No Travel
Relocation Provided: No
The position will supervise members of the valuation team, in particular those who work on Pension Risk Transfer (“PRT”) and Structured Settlements (“SS”) valuations. The role will also provide support to the valuation actuary for the other IM product valuations: Guaranteed Investment Contracts (“GICs”), Corporate Owned Life Insurance (“COLI”), Bank Owned Life Insurance (“BOLI”), and Stable Value Wraps (“SVW”). This is a high visibility role with opportunities to make a positive impact!
Role and Responsibilities
A primary responsibility will be to review and thoroughly understand all aspects of PRT and SS valuation results and ensure accuracy and high quality work product. This will entail significant in depth analysis and providing guidance to the team members.
The position is expected to learn and understand key features and valuation regulations and processes of all of the IM products. This position will in effect be a “deputy” valuation actuary, although focusing primarily on PRT and SS.
Specific responsibilities include:
• Oversee the work of team members whether in Houston, India, or other locations
• Provide in depth analysis of reserve movements
• Peer review all product valuations and other work products to assure quality
• Thoughtfully improve processes and controls
• Cross-training on each IM product valuation position so each process has a back-up
• Provide valuation expertise and User Acceptance Testing in connection with the valuation conversion from ARC CASE to Moody’s AXIS
• Learn ASU 2018-12 and train the IM team to implement it for all IM products
• Coordinate responses to requests from management, auditors, surveys, IRS, and clients
Position Requirements
• This individual should have a bachelor’s degree and a Fellow of the Society of Actuaries (FSA)
• 5+ years of progressively more responsible actuarial experience with life insurance and annuity products
• The ideal candidate will have experience in Valuation of IM products: Pension Risk Transfers or other payout annuities
• Understanding of GAAP, Statutory, and Tax regulations, as well as earnings and their drivers
Candidate Profile
• Experience with valuation and / or financial reporting
• Goal oriented and well-organized, with the ability to develop and manage disciplined processes
• Ability to improve processes with controls and creativity
• Ability to learn new processes quickly
• Strong analytical skills
• Highly motivated and results-oriented
It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.
At AIG, we believe that diversity and inclusion are critical to our future and our mission – creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.