Actuary Analyst at Kuvare – Cedar Rapids, Iowa

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 LifeInstitutional Insurance:- Kuvare Life ReBespoke Insurance Solutions:- Ignite Partners

About the role

This position is part of the Actuarial Development Program for Kuvare Corporate Management (KCM). The Program offers students an array of experiences including Life and Annuity Valuation, Modeling and Forecasting, Product Management, Asset Liability Management, and Enterprise Risk Management. The Program is designed with the objective to develop Fellows in the Society of Actuaries.

What you'll do

As an employee in the Actuarial Development Program, your day-to-day activities will be dependent on the function you are supporting and are expected to change throughout your employment.

Duties and responsibilities include, but are not limited to

Valuation tasks

· Prepare and help monitor reserve trends monthly on GAAP, statutory, and tax accounting bases

· Assist in preparation of Statutory Annual and Quarterly Statements

· Update Valuation models and organize results for management.

· Assist in gathering information and analysis for external auditor inspections

Pricing & Product Development

· Support rate setting and other non-guaranteed elements (NGE) process; perform analysis to support business decisions, coordinate signoff, and monitor implementation.

· Manage projects and stakeholders to promote timely and effective progress on key initiatives

· Assist Pricing Actuaries in 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

· Ensure products are built appropriately in administration system and validating test cases

Product Management tasks

· Produce and improve monthly business monitoring reporting

· Produce monthly crediting rate package and process

· Coordinate with ALM and System on data and result analysis

· Assist in the development and analyze annual Illustration Actuary testing models

· Assist on special policy illustration requests

· Assist on Product related projects and requests

Modeling and Forecasting tasks

· Build and review model inputs to support financial projection capability

· Execute and monitor model projections including troubleshooting model calculations

· Analyze model output ensuring accuracy with intended model purpose

Risk and Investments tasks

· Update quarterly stress testing results and compare versus risk appetite and limit

· Build quarter end asset model staging for production, for multiple lines of business

· Research and implement modeling of complex asset types (structured securities, hybrid securities), investment/reinvestment strategies, cash flow behaviors, and regulations in Moody’s AXIS

· Monitor asset and liability duration, report mismatches outside of tolerance

Ancillary Responsibilities:

· Build efficiencies through programming solutions in all aspects of model input and output data manipulation

· Assist in the development and production of the Own Risk and Solvency Assessment

· Assess the impacts of an alternate investment or reinvestment strategy

· Assist in the development of optimization macros to improve hedging and ALM efficiency

Upon request, reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Qualifications

Analyst

· BS in Actuarial Science, Mathematics, Finance, Statistics, or related area

· Proven ability to pass actuarial exams; preferably 1 exam pass achieved

· 0-2 years of full-time insurance actuarial experience (including prior internships). Little prior significant experience expected, although a plus.

· Understanding of Actuarial software, a plus (e.g., AXIS, MG-ALFA, ARCVal)

Skills/Competencies

Strong organizational skills with elevated level of attention to detailDemonstrated persistency and ability to deliver results under pressureExcellent interpersonal, verbal communication and proofreading skillsProficient with Microsoft Office, etc.Must be a flexible self-starter who can prioritize tasks, follow through and meet deadlinesAbility to work independently with minimal supervisionProven track record of actuarial exam success

Physical Demands

Normal office working environment, full time with some flexibilityOccasional evening and weekend hours to meet deadlinesOccasional travel is requiredAbility to type / perform data entryAbility to read from a computer screen and paper reportsExpress ideas and otherwise communicate with the spoken word