What are the responsibilities and job description for the Actuary, GAAP Valuation position at American Equity Investment Life Insurance Company?
At American Equity Investment Life Holding Company®we offer leading annuity products that help empower our clients to fulfill their needs and wants in retirement. Our success comes from hiring high-energy individuals who embody the beliefs that drive our unique culture. We currently fund over half a million retirements nationwide, and have been headquartered in West Des Moines, Iowa, for over twenty-five years with satellite offices in Charlotte, NC and New York, NY.
GENERAL PURPOSE OF THE JOB :
The Actuary, GAAP Valuation is responsible for reporting quarterly GAAP valuation, including but not limited to current US GAAP and Long Duration Targeted Improvements (LDTI) of fixed indexed annuities and other annuity blocks of business. The incumbent contributes to the execution of actuarial models and associated analysis; and maintains accurate valuation records and validations.
Flexible (home / office) work schedule in Des Moines, Iowa.
ESSENTIAL DUTIES AND RESPONSIBILITIES :
- Completes the timely and accurate reporting, validation and analysis of liabilities, as well as delivery of required quarterly and year-end US GAAP reporting items based on MG-ALFA projection outputs.
- Focuses on US GAAP reporting (Current & LDTI), including but not limited to the following metrics : FAS 97, FAS 133, MRB, LFPB / DPL and DAC.
- Supports the development of a repeatable reporting process with proper controls and documentation, to be consistent with the best practice of risk management and audit controls.
- Maintains and executes an industry best practice actuarial control framework for SOX 404 requirements.
- Completes the internal and external audit deliverables with timely and accurate preparation and validation, and applicable maintenance of valuation assumptions and inputs.
- Supports creation of reports for fixed indexed annuities or similar products for management reporting of US GAAP financial results.
- Leads a diverse team of employees with responsibility for managing the employee life cycle and experience, including but not limited to, selection and retention of talent, continuous feedback and performance management, reward and recognition, corrective action and employee development.
- Monitors developments in the actuarial industry and remains current on applicable regulatory and accounting matters from a valuation perspective.
- Provides subject matter expertise to team members and internal / external stakeholders on complex actuarial valuation methodology.
- Performs other related work as assigned.
SUPERVISORY RESPONSIBILITIES :
Direct Reports : 1-3
Indirect Reports : None
EDUCATION AND / OR EXPERIENCE :
CERTIFICATES, LICENSES, PROFESSIONAL DESIGNATIONS :
KNOWLEDGE, SKILLS AND ABILITIES :
This description covers the major purpose and essential functions of the job. It is not intended to give all details or a step-by-step account of the way each task is to be performed. Employees may receive other job-related instructions and be required to perform other job-related work requested by their manager. All requirements are subject to possible modification to provide reasonable accommodation to qualified individuals with disabilities.
