Sr. Actuarial Associate, Long Term Care, Austin, TX (7912BR) New York, New York
Responsible for: I.LTC Modeling and Projections (45%) a.Assist with the development of projection systems and output b.Assist with all financial projections including: i.Cash Flow Testing ii.Loss Recognition Testing iii.Embedded Value iv.Business Plan Forecasts v.Liability duration calculations vi.Investment strategies c.Communicate results in an understandable manner tailored to the audience II.Valuation (45%) a.Review policy and claim reserve data b.Test actuarial calculations c.Participate in setting reserve assumptions d.Assist with the development and maintenance of policy and claim reserve systems e.Document valuation systems, assumptions and methods f.Communicate results to Valuation Corporate Vice President g.Monitor results for reasonableness. h.Maintain valid audit trails for all valuation processes III.Financial Reporting (10%) a.Develop and maintain actionable reports for LTC management, especially an LTC Scorecard including: i.Source of Earnings ii.Sales iii.Interest environment iv.Expense ratios v.Claims analysis vi.Policy reserve analysis vii.Competitive update b.Assist in the communication of financial results to LTC and New York Life management c.Work with LTC Claim department to ensure that claim adjudication is being performed in a timely and consistent manner.
IV. Position Requires a. Collaboration with other departments including: i. Accounting ii. IT iii. Claims iv. Office of the Chief Actuary v. Controller’s Department College degree is required. Completion of specific and general continuing education requirements. An FSA designation in the Society of Actuaries is essential. Candidate must be a member of the American Academy of Actuaries. This position requires at least 5 years of previous actuarial experience. Experience with Long-Term Care is preferred. Candidate must: Possess strong individual accountability; Possess strong technical and analytical skills. Be a good self starter and innovator; Possess high quality of work ethics while remaining committed to corporate values. Have strong oral and written communication skills; Have ability to evaluate information, evaluation and research and strong analytical ability; Possess ability to manage projects effectively. Be proficient in Microsoft Word and Excel and various forecasting platforms. Responsible for many critical financial reports for the Long-Term Care Division. Information produced in this unit is vital in LTC Executive decision-making. Errors in financial projections, valuation and financial reporting could have significant impact on the line of business.
Extensive independent decision making latitude in experience analysis, reserving, issues affecting actuarial databases and other financial areas for the entire line of business.