Associate Actuary, Life/Disability Products recruitment
Organization and Position Summary
In January 2012, Chartis and SunAmerica Financial Group formed a significant new player in the benefits market by combining American General Life Companies' Benefit Solutions division with the Medical Excess and @Work groups from Chartis Corporate Benefits division. The combined entity targets the employee and affinity group markets, and will serve as a one-stop solution for today's changing benefits marketplace for groups of all sizes. The product suite includes life/ADD, BTA/accident, universal and term life, dental, vision, limited healthcare, medical reimbursement, stop-loss, organ transplant, group hospital, group and personal disability, critical illness, accident and cancer insurance. This broad and diverse portfolio provides limitless opportunities to create flexible benefit offerings suitable for all sizes and budgets, and the combined underwriting, distribution and sales strengths of American General and Chartis will provide further strength and differentiation in the marketplace.
This new role will support the product development and pricing of Life and Disability products for the Employer Markets. It will report to the Life/Disability Pricing Actuary.
The ideal candidate will be an ASA or FSA, with at least 2 years of experience in pricing of group life and/or disability products. Understanding of the rate development process from benefit design to rate filing is critical. Equally important is the ability to clearly communicate results to both technical and non-technical audiences. The ideal candidate will also have superior technical skills in Excel, Access, and VBA.
Immediate Performance Objectives:
* Support pricing for the product suite
Performs pricing reviews with relevant market data as needed
Works with financial analysis and product management in the review of the product profitability, and helps determine the strategic direction for the product
Assists in decisions on case design and specific case pricing.
* Supports Pricing and Analysis for new product development
Provides pricing research on potential designs
Assists with product filings
Provides analysis on new products, such as IRRs, VNBs, and Lifetime ROEs for the products
Supports implementation, performance feedback and ongoing enhancements
* Provides analysis on the products as needed
Works with the product team, finance and product managers to provide actuarial expertise as needed.
Develops analysis as needed on new initiatives.
May work as a project manager as needed for special projects.
* Bachelor's degree in Actuarial Science, Mathematics, Finance, or a related field.
* FSA, or ASA with a minimum of 5 years experience post ASA.
* 5 to 10 years actuarial experience, with 2+ years of group product development and pricing experience.
* Product knowledge in the employee benefits segment.
* Superior technical skills in Excel, Access, and VBA.
* Ability to work effectively and collaboratively within a highly-matrix organization and with employees at all levels.
* Excellent communication skills and strong interpersonal skills that provide ability to interact with other members of a small team.
* Well organized, with a high degree of initiative and endurance in order to prioritize, multi-task and maintain flexibility in fast-paced, changing environment.
* Strong problem-solving skills.
About AIG
American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo. AIG is an Equal Opportunity Employer.
