About Kuvare:
Kuvare is on a mission to serve hardworking consumers overwhelmed by the complexities of retirement and is built from the ground up to do so. Our unified financial hub protects the retirement of everyday Americans and the distributors, carriers and investors that serve them. We create life insurance and annuity products that protect consumers' retirements, and are simplified for distributor partners and financial professionals to sell and service.
Kuvare family of companies:
Retail Annuity and Life Insurance Solutions:
- United Life Insurance Company
- Guaranty Income Life Insurance Company
- Lincoln Benefit Life
Institutional Insurance:
- Kuvare Life Re
Bespoke Insurance Solutions:
- Ignite Partners
About the role
The AVP and Actuary, Pricing & Product Development will:
- Serve as the product expert to internal and external clients
- Partner with internal stakeholders to support company's product strategy
- Manage rate setting and other non-guaranteed elements (NGE) process
- Manage Life and/or Annuity Illustrations across the Platform
- Monitor emerging product experience and analyze product performance
- Monitor and implement product features/calculation are accurate across various systems
Duties and responsibilities include, but are not limited to
- Manage rate setting and other non-guaranteed elements (NGE) process; perform analysis to support business decisions, coordinate signoff, and monitor implementation
- Monitor emerging product experience, manage actuarial assumptions and identify any new risks
- Support cross-functional initiatives related to product development and reporting
- Oversee Life and/or Annuity product illustrations; provide support to Customer Service on exemptions and escalated requests
- Develop relationships with internal and external distribution (sales) stakeholders
- Liaise with Banks and Investment managers on index fund design and performance within life and annuity products
- Manage projects and stakeholders to promote timely and effective progress on key initiatives
- Responsible for designing new products
- Leading cross-functional teams in education, objectives, and project decisions relevant to the product
- Managing and communicating pricing risks, profitability, scenario analysis
- Key figure in implementation of product across downstream teams
- Support filing of new products
- Responsible for certifications within Actuarial Memoranda submitted to state regulatory bodies for product filings
- Support development and review of contract language and other filing requirements
- Ensure products are built appropriately in administration system and validating test cases
- Serve as SME to actuarial data warehouse development, operations, IT, customer support and other functions
- Responsible for other product related projects
- Provide actuarial support to Platform for hedging programs;
- Provide actuarial elements of the financial plan for new business
- Provide input into the acquisition process when called upon
- Support Actuarial department beyond product development scope: resource planning, junior staff development, and recruiting
- SME related to product tax issues and compliance
- SME related to technical development:
- Proprietary modeling software
- In-house developed data ETL, processing, and analysis
Qualifications
Experience
- Bachelor's degree in Actuarial Science, Mathematics, Statistics, Economics, Finance or related fields
- FSA, MAAA required
- Minimum 10 years of life insurance experience in various actuarial fields such as product development/pricing, actuarial modeling, valuation, financial reporting, and systems
- In-depth knowledge of one or more Actuarial software applications
- Knowledge of filing requirements for insurance products
Skills/Competencies
- Deep understanding and up-to-date knowledge of Life and Annuity products and product management
- Financial modeling, financial analysis, and working knowledge of accounting standards
- Critical thinking and sound judgement
- Excellent written and oral communication skills
- Demonstrated ability to work effectively with and lead cross-functional teams
- Experience mentoring and developing staff
- High level of technical and programming competency
- Self-starter and strong entrepreneurial spirit
Physical Demands
- Normal office working environment
- Occasional evening and weekend hours to meet deadlines
- Occasional travel is required
- Ability to sit for extended periods of time
- Ability to type / perform data entry
- Ability to read from a computer screen and paper reports
- Express ideas and otherwise communicate with the spoken word
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