Valuation Actuary

at  Aspida Financial Services LLC

COMPANY DESCRIPTION:

Aspida Holdings Ltd., through its subsidiaries (collectively “Aspida”), is focused on providing retirement and reinsurance solutions, having operations in the U.S. and Bermuda with total assets of $12.1 billion as of September 30, 2023. Aspida, through its U.S. platform – Aspida Life Insurance Company – is focused on leveraging technology and agility to help clients achieve – and protect – their dreams. Its Bermuda-based reinsurance platform, Aspida Life Re, is focused on providing efficient and secure life and annuity reinsurance solutions. Aspida seeks to be a trusted partner in its clients’ financial security while driving its growth by doing good for the communities it serves. Aspida is backed by Ares Management Corporation, which, through the Ares Insurance Solutions team, provides dedicated investment management, capital solutions and corporate development support. For more information, please visit aspida.com or follow them on LinkedIn, Facebook.

WHO WE ARE:

Sometimes, a group of people come together and create something amazing. They don’t let egos get in the way. They don’t settle for the status quo, and they don’t complain when things get tough. Instead, they see a common vision for the future and each person makes an unspoken commitment to building that future together. That’s the culture, the moxie, and the story of Aspida.
Our business focuses on annuities and life insurance. At first, it might not sound flashy, but that’s why we’re doing things differently than everyone else in our industry. We’re dedicated to developing data-driven tech solutions, providing amazing customer experiences, and applying an entrepreneurial spirit to everything we do. Our work ethic is built on three main tenets: Get $#!+ Done, Do It with Moxie, and Have Fun. If this sounds like the place for you, read on, and then apply at aspida.com/careers.

WHAT WE ARE LOOKING FOR:

We are seeking a highly skilled and experienced Actuarial Valuation Leader to join our team. The Actuarial Valuation Leader will play a pivotal role in ensuring the accuracy and integrity of our annuity valuation processes, providing valuable insights to support strategic business initiatives and regulatory compliance. This role reports to the Aspida Life Insurance Company Chief Actuary and is required to be onsite 3 days a week at our Durham, NC headquarters.

• Actuarial Valuation Oversight: Lead the actuarial valuation team in performing timely and accurate valuations of annuity liabilities, ensuring compliance with relevant accounting standards (e.g., U.S. Stat, U.S. GAAP) and regulatory requirements.
• Model Development and Governance: Collaborate with cross-functional teams to develop and enhance actuarial models. This includes implementing new products, updating valuation methodologies, incorporating best practices and industry benchmarks to improve valuation controls and efficiency. Ensure adherence to governance standards
• Financial Reporting Support: Partner with finance and accounting teams to provide actuarial expertise and support for financial reporting processes, including preparing actuarial reports, disclosures, and supporting documentation for regulatory filings.
• Regulatory Compliance: Stay abreast of regulatory developments and changes in accounting standards related to annuity valuations, assess their impact on our business, and implement necessary changes to ensure compliance.
• Experience Studies and Assumption Setting: Conduct experience studies to analyze historical data and trends related to annuity policyholder behavior, mortality, lapses, and other key factors. Utilize findings to set and review actuarial assumptions, ensuring they are reflective of actual experience and remain appropriate for valuations.
• Reinsurance Administration: Oversee reinsurance administration activities, including treaty interpretation, calculation of ceded liabilities, development of settlement statements and coordination with reinsurers to ensure accurate and timely reinsurance reporting.