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Assistant Actuary / Associate Actuary
Manulife Financial
Boston, MA, United States
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Job Description:
Are you looking for unlimited opportunities to develop and succeed? With work that challenges and makes a difference, within a flexible and supportive environment, we can help our customers achieve their dreams and aspirations.
Job Description
The NAIC Actuarial group is responsible for all actuarial aspects of the NAIC finance function for the Annuities, Life, Long Term Care, and RPS Business Units. The group’s focus is on maintaining timely, high quality reporting while devising and implementing changes that will drive improvements in efficiency and the meaningfulness of supporting analytical information to inform strategic decision making.
This Assistant Actuary / Associate Actuary position is accountable for leading NAIC and Tax valuation and reporting for Fixed Deferred Annuities (FDA), Market Value Adjustment (MVA) annuities and Participating Pension (PenPar) contracts, as well as overseeing the production and validation of Asset Adequacy Testing (AAT) for Variable Annuities. Additional project work will be assigned related to other blocks of business.
Responsibilities:
• Lead preparation of quarterly NAIC financial reports for FDA, MVA and PenPar, including Reserves, Source of Earnings, required capital, and other deliverables in a timely manner. Analyze and explain results to management.
• Review Variable Annuities AAT calculations, maintain projection model, explain results to senior management, and create process and result memorandums.
• Prepare or review Model Audit Rule evidence of key controls and provide responses to internal and external auditor queries.
• Prepare or review year-end Annual Statement exhibits, and all required rating agency and industry surveys.
• Supervise creation and modification of databases, spreadsheets, and assumptions to produce necessary results, and improve and further automate processes.
• Ensure the accuracy and integrity of annuities cashflows and reserves used in AAT work.
• Oversee the preparation of deliverables by actuarial students and co-ops. Present financial results to management and explain key drivers.
Qualifications:
• FSA with experience in pricing or financial reporting. Preferably experience will include NAIC and Tax reporting requirements.
• Strong analytical and problem-solving skills.
• Effective written and oral communication skills.
• High energy and drive, results oriented with high level of engagement.
• Strong technical skills, including knowledge of Microsoft Access and Excel. Knowledge of QlikView is a plus.
• The ability to successfully manage multiple projects and deliver timely results.
• Experience providing guidance and leadership to junior staff.
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About Manulife
Manulife Financial Corporation is a leading international financial services group that helps people achieve their dreams and aspirations by putting customers' needs first and providing the right advice and solutions. We operate as John Hancock in the United States and Manulife elsewhere. We provide financial advice, insurance, as well as wealth and asset management solutions for individuals, groups and institutions. At the end of 2016, we had approximately 35,000 employees, 70,000 agents, and thousands of distribution partners, serving more than 22 million customers. At the end of 2016, we had $977 billion (US$728 billion) in assets under management and administration, and in the previous 12 months we made almost $26 billion in payments to our customers.
Our principal operations are in Asia, Canada and the United States where we have served customers for more than 100 years. With our global headquarters in Toronto, Canada, we trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong.
Manulife is committed to supporting a culture of diversity and accessibility across the organization. It is our priority to remove barriers to provide equal access to employment. A Human Resources representative will consult with applicants contacted to participate at any stage of the recruitment process who request an accommodation. Information received regarding the accommodation needs of applicants will be addressed confidentially.