Actuary, VM-22
Job Summary
This position’s primary responsibility is to support the development and implementation of VM-22 into a production environment for Fidelity & Guaranty Life. This position will be a subject matter expert on the VM-22 regulation as well as company processes related to VM-22 for all affected lines of business including fixed indexed annuities, multi-year guarantee annuities and pension risk transfer annuities.
Duties and Responsibilities
Specific duties of the position will include:
- Identifying key drivers affecting VM-22 reserves and assisting with recommendations on assumptions or methods that optimize reserve balances while maintaining compliance with the regulation
- Working with the Reinsurance team to analyze the impact reinsurance has on the VM-22 results
- Working with the Asset Liability Management (ALM) and Investment team on strategic asset selection initiatives
- Working with the Retail and PRT Pricing teams to analyze the impact VM-22 has on pricing of new products or deals
- Presenting to leaders on analysis and key aspects of the results
- Completing user acceptance testing of the VM-22 reserve results
- Execution of controls around the reserves in a complete and accurate fashion.
- Manage an actuarial student
- Stay abreast of new regulations/requirements, etc.
Experience and Education Requirements
- Bachelor's degree in mathematics, actuarial science or related technical field.
- FSA and MAAA certifications are strongly preferred; may consider ASA designation with increased levels of experience.
- Minimum of five years of related actuarial experience.
Knowledge, Skills & Abilities
- Strong technical, analytical, organizational, computer, and team skills.
- Solid understanding of insurance company income statements and balance sheets.
- Solid understanding of maintaining a strong control environment.
- Proactive individual who can provide strong technical support to Actuarial Valuation team with solid analytical skills.
- Self-starter who demonstrates strong initiative and displays a high energy level.
- Strong problem-solving skills that include advanced analytical and reasoning abilities; demonstrated ability to apply actuarial principles to complex situations.
- Ability to establish and maintain strong internal relationships within the company.
- Team player who has the ability to function as a key member of a small group in which members of the team work with great autonomy; take a high degree of ownership for their areas of responsibility (subject matter expert).
- Knowledge of Microsoft Office applications (Word, Excel, PowerPoint, Access).
- Ability to learn and utilize actuarial software systems.
- Effective verbal and written communication skills; strong presentation skills a plus.
Other Requirements
- Perform other functions, duties and projects, as assigned.
- Regular and punctual attendance.
- Some travel may be required (less than 10%).
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Additional Information
Work Environments
F&G believes in an employee-centric flexible environment, which is why we offer the ability for in-office, hybrid and remote work arrangements. During the hiring process, you'll work with your leader to decide what works best for your role.
F&G complies with federal and state disability laws and makes reasonable accommodations for applicants and candidates with disabilities, unless such accommodation would cause an undue hardship for F&G. If reasonable accommodation is needed to participate in the job application or interview process, please contact talentacquisition@fglife.com.
Join our employee-centric hybrid work environment: F&G Careers
About F&G
Since 1959, Fidelity & Guaranty Life Insurance Company (F&G) has offered annuity and life insurance products to those who are seeking security in retirement and protection during life’s unexpected events.
As a national Top Workplace1, an Iowa Top Workplace2 and a proud equal opportunity employer, F&G team members are empowered, collaborative, dynamic and authentic. We believe that by embracing these values, we will continue to build and strengthen the company while continuing to be a great place to work.
1Top Workplaces USA 2022 – 2023
2Des Moines Register Top Workplaces 2018 – 2022
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