Product Compliance and Testing Actuary

Product Compliance and Testing Actuary
Madison Wisconsin

Finance / Accounting - Actuary

Exp 7-10 yrs

Deg Bachelors

Visa candidates welcome

Job Description

The Product Compliance and Testing Actuary reports to the Director of Compliance with a dotted line reporting to the Director of Actuarial Services. The incumbent will be responsible for Accident, Health and Life Actuarial Product Compliance which includes working with and giving guidance to pricing and valuation actuaries in addition to key areas such as Legal, Operations and IT.

The position has significant freedom to conduct analysis and develop solutions to actuarial issues. The primary purpose is to conduct analysis, and communicate conclusions of analysis, provide functional thought leadership, helping to drive desired business performance. The position requires the ability to communicate complex analysis and conclusions to business leaders, assisting those leaders in taking appropriate actions to meet company financial objectives. This position has regular interaction with external audiences in support of filings, financials, or audits; and occasional contact with customers. This position leads projects with notable risk and complexity.

Job Responsibilities:

•                   Actively monitors, assimilates and shares changes to state and federal regulations.

•                   Responsible for working with actuaries and other business areas to set guidelines for product testing, planning and execution

•                   Responsible for reviewing vendor supplied system enhancement documentation to determine benefits and risks associated with changes.

•                   Serves as point person providing actuarial guidance on compliance initiatives.

•                   Develops new and creative solutions to actuarial issues.

•                   Conducts independent analysis and draws conclusions and make recommendations.

•                   Analyzes and applies technical info to practical situations, assesses opportunities for improvement.

•                   Provides effective interaction with leadership of claims, finance, product, underwriting and other units as required.

•                   Provides effective interaction with external audiences in support of filings or audits, and occasional contact with customers.

•                   Serves as actuarial viewpoint expert in a wide variety of actuarial subjects, and in company, industry and regulatory practices offering market knowledge and best practices.

•                   Sets expectations for actuarial model capabilities, identifies model data needs.

•                   Responsible for managing one or more actuarial student(s).

The above statement of duties is not intended to be all inclusive and other duties will be assigned from time to time.

Job Requirements:

1. Bachelor’s degree in actuarial science, statistics, mathematics or a related field or equivalent professional related work experience

2. Eight-plus years of experience in actuarial setting with progressive responsibilities

3. FSA or FCAS Level or equivalent

4. Broad knowledge of insurance operations and products and emerging issues.

5. Ability to communicate technical concepts to non-technical audiences

6. Ability to interact with other functional areas as required.

7. Ability to pay attention to detail, produce accurate results and develop self-validation skills.

8. Strong organization and time management skills.

9. Ability to handle multiple priorities and tight deadlines.

10. Ability to work independently or as part of a team.

11. Ability to develop and use collaborative relationships to facilitate the accomplishment of work goals.