➢ Job Description:
The Actuarial Science Consultant will be part of the Allstate Life and Retirement BU and is responsible for using statistical techniques and mathematical skills to provide actuarial support for product development, projection, product implementation, illustrations, valuation, and financial reporting.
➢ Job Responsibilities:
• Understand and drive the leveraging of actuarial valuation systems to improve valuation efficiency, simplicity transparency and to enable finance business performance delivery (Moses/AXIS, reporting to valuation spreadsheets) including review and re-engineering of current actuarial valuation processes (considering speed, quality, simplicity etc.)
• Ensure delivery of an actuarial valuation systems process that provides efficient timely and robust financial and value information and enables the provision of value adding insights by the Business teams to the business as well quality statutory reporting.
• Maintain ongoing systems, valuation and business requirements and monitor future developments
• Support Life Insurance products (new and re-pricing) of Allstate Life and Retirement, including Term, Traditional Whole Life, Secondary Guarantee, UL
• Assist in data extraction, calculations and validation while creating & running the models
• Provide pro-active analysis, insights and recommendations supporting development of change to actuarial valuation processes to deliver better business outcomes.
• Together with Systems & Data Processes, work with Home Office Actuarial Valuation teams, and other senior stakeholders to ensure change is aligned with needs of Business and valuation teams
• Build strong relationships with Home Office actuarial teams to identify and deliver enhancements to actuarial processes, delivery and provision of insights to business teams
• Create dashboards and reports as needed to measure model performances
• Bachelors or Masters degree in a quantitative discipline (Applied Mathematics, Statistics, Operations Research, Actuarial Sciences or related field)
• 4-6 years’ experience in Actuarial field, preferably in Life Insurance for Senior Consultant
• In pursuit of Actuarial papers from US/UK/India and making good progress towards certification
• Knowledge and experience of US insurance and financial services market, including market structure, product, distribution, regulation, and governance processes
• Knowledge of Actuarial aspects of Life and all related statutory rules and regulations
• Technical capability / knowledge of US valuation practice
• Expertise on Actuarial Platforms/Tools like Moses, AXIS (GGY/Moody’s),Prophet, MGAlfa, Polysystem etc.
• Excellent understanding of Excel, Moses and AXIS and related technology used for Actuarial valuation and the potential for enhancement.
• Proficient in tools like R/SAS, MS Office, SQL and Access
• Strong written and verbal communication skills
• Candidates with actuarial qualifications will be given preference