Internal Actuary - Tennessee, United States - Farmers Life Insurance Co.

Description

Company Overview:

Join Farmers Life Insurance Company, a rapidly growing life insurance company focused on providing innovative annuity products. We're seeking a talented Internal Actuary with expertise in reinsurance, cash flow testing, and product design to contribute to our company's continued success and expansion in the annuities market.

Role Description

This is a full-time remote role for an Internal Actuary at Farmers Life Insurance Co. The Internal Actuary will be responsible for performing actuarial analysis, financial modeling, and risk assessment. They will use their knowledge of finance, statistics, and insurance to evaluate and develop insurance products and pricing strategies. The Internal Actuary will also collaborate with cross-functional teams to ensure regulatory compliance and support business decision-making processes.

Key Responsibilities:

• Lead the development and implementation of reinsurance strategies tailored to our annuity product portfolio, ensuring optimal risk management and financial performance.
• Conduct rigorous cash flow testing to assess reserve adequacy and capital sufficiency, ensuring compliance with regulatory requirements and industry standards specific to annuities.
• Collaborate closely with cross-functional teams to design innovative annuity products that meet customer needs, align with business objectives, and capitalize on market opportunities.
• Utilize actuarial modeling software to simulate various scenarios and analyze the financial implications of different annuity product designs, ensuring competitiveness and profitability.
• Communicate findings and recommendations to senior management and other stakeholders, influencing product development strategies and driving business growth in the annuities market.

Qualifications:

• Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related field.
• Associate or Fellow of the Society of Actuaries (SOA) designation required.
• Proficiency in reinsurance, cash flow testing, and product design within the life insurance industry, with a focus on annuities.
• Experience using actuarial modeling software, such as Prophet, AXIS, or ALFA, in the context of annuity product development and management.
• Strong analytical skills and attention to detail, with the ability to interpret complex data and derive actionable insights relevant to annuity products.
• Excellent communication and interpersonal skills, with the ability to collaborate effectively across departments and influence key stakeholders in the context of annuity product strategy.

Benefits:

• Competitive salary and comprehensive benefits package.
• Opportunities for professional development and career advancement in a growing company focused on annuities.
• A collaborative and supportive work environment that values innovation and encourages personal growth.