Life Associate Actuary at National Association of Insurance Commissioners (NAIC)

Kansas City, Missouri, United States -

Full Time

Start Date

Immediate

Expiry Date

14 Feb, 26

Salary

150000.0

Posted On

16 Nov, 25

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Actuarial Science, Data Processing, Data Analysis, Communication, Actuarial Modeling, Technical Skill Development, PBR Valuation, Cash Flow Testing, Reinsurance, Data Visualization, Statistical Software, AXIS Modeling Software, Model Governance, Confidential Data Handling, Research, Analysis

Industry

Public Policy Offices

Description

Job Description: The Regulatory Affairs division of the National Association of Insurance Commissioners (NAIC) has an exciting opportunity for a Life Associate Actuary. This position analyzes extensive industry data related to life insurance and annuities. This role involves data processing, analysis, and communication. Additional duties include staff support, actuarial modeling, and continuous technical skill development to meet evolving needs. This is a full-time remote position which requires residency within the United States. Responsibilities Include Provide support for NAIC Valuation Analysis (E) Working Group (VAWG). Review and analyze company principle-based reserve (PBR) Actuarial Reports, Actuarial Opinion Memorandums, or filings for Actuarial Guidelines. Assist as needed in other VAWG support work. Provide support for one or more subgroups of the NAIC Life Actuarial (A) Task Force (LATF). Plan meetings by coordinating with the chair to produce agendas, presentations, and work plans. Schedule meetings and serve as moderator. Produce minutes and summaries in accordance with the established methodologies and deadlines. Assist as needed in other LATF support work. Become a subject matter expert on sections of the Valuation Manual that provide specifics on PBR (VM-20, VM-21, VM-22, VM-31) and experience reporting requirements (VM-50 and VM-51). Provide actuarial expertise in the form of research, analysis, and recommended interpretation of various issues related to the Valuation Manual. Assist in the collection and processing of confidential annual life insurance mortality experience data filings from companies representing a high percentage of the industry. Review of individual company results. Assist in developing approaches to review aggregated data fields for reasonableness. Maintain confidentiality of data and assist with data governance. Participate in training to gain expertise in AXIS modeling software. Support development of model office and model governance procedures. Prepare documentation for the model offices maintained by the NAIC. Perform model office analysis utilizing NAIC’s Life, Variable Annuity, and Non-Variable Annuity model offices as assigned. Apply sound actuarial principles; maintain actuarial qualifications; and adhere to the Standards of Practice as promulgated by the Actuarial Standards Board. Management Responsibilities This position is responsible for the performance of a team of direct reports including P&C Insurance Specialists. Minimum Education and/or Experience Required Bachelor’s degree in actuarial science, Mathematics, Statistics, or similar degree from an accredited college or university and at least 5 years of actuarial experience or an equivalent combination of education and experience. Associate of the Society of Actuaries Preferred Experience Experience with PBR valuation, cash flow testing, reinsurance, assets, and governance. Proficiency with data visualization (e.g. Tableau) and statistical software (e.g., SAS, R, Python). Experience with actuarial modeling software. Systems & Technology Requirements Microsoft Office Suite/365 Travel This position requires regular, out-of-state, overnight travel in support of member meetings and events throughout the year. An ideal candidate must be able and willing to travel to locations throughout the United States and with such frequency as necessary to meet the needs of this position and the Association. Compensation $122,000 - $150,000, commensurate with education and experience. Sponsorship Applicants must be authorized to work for any employer in the U.S. We are unable to sponsor or take over sponsorship of an employment Visa at this time. Interested in learning more about the amazing benefits the NAIC offers? Visit our Benefits page for more information. The NAIC is proud to be an Equal Opportunity Employer Applicants for all positions are considered without regard to age, race, creed, color, religion, sex, sexual orientation, gender identity or expression, national origin or ancestry, marital status, pregnancy, genetic information, military or veteran status, disability, or any other basis protected by applicable law. LEARN MORE ABOUT THE NAIC Company Overview The National Association of Insurance Commissioners (NAIC) is a member-focused, non-profit Association supporting state insurance commissioners, and their departments, to effectively regulate the insurance industry and protect consumers. Headquartered in Kansas City, New York, and Washington DC, our 150-year-old Association offers the coordination of expertise in policy and regulation among state departments, data and technology, financial regulatory support, training and education, and resources for ongoing collaboration among the states and jurisdictions. Diversity Statement Our member-driven Association supports the dynamic and diverse needs of state regulatory agencies and the consumers of insurance products and services. Through our ongoing commitment to Diversity, Equity, and Inclusion, we believe our employees provide a wide range of experience and expertise to generate better ideas and solve complex problems consumers and our members face as insurance products and regulations evolve over time. Guiding Principles • We put customers first • We are committed to continuous improvement • We succeed by working together • We do what it takes to get the job done • We communicate often • We treat colleagues with respect and honesty

Responsibilities

The Life Associate Actuary will analyze extensive industry data related to life insurance and annuities, providing support for various working groups and task forces. Responsibilities include reviewing actuarial reports, assisting in data collection, and maintaining confidentiality of data.