What are the responsibilities and job description for the Actuary, Inforce Management position at Fidelity & Guaranty Life Insurance Company?
Job Description
Job Description
Job Summary
The Actuary, Inforce Management is responsible for the analysis of the actual emergence of customer behavior through experience analysis and the recommendation and support for all customer behavior assumptions used in pricing, modeling and reserving. This role will develop and continuously improve routine and investigative Inforce Management reports related to the financial and risk performance of blocks and cohorts of inforce products. The position will support the Inforce Management team in identifying and executing cross-functional projects based on the findings of reports and investigations. This role is outside the function of rate-setting and formal actuarial repricing in the organization.
This position reports directly to the AVP, Inforce Management and may have one to two direct reports.
Duties and Responsibilities
- Recommend Experience studies as well as other structural, value or methodology changes related to assumptions for the retail block to the Assumptions Committee
- Enhance departmental processes and analytical capabilities including the deployment of new analysis techniques where appropriate
- Maintain knowledge of emerging industry experience for product features and benefits pertinent to F&G inforce blocks, and integrate industry experience into assumption review process where F&G experience is less credible.
- Participate in and utilize third party services and surveys to augment understanding of emerging experience and expectations of future experience, especially where F&G experience is not credible and future experience has high impact on emergence of profits.
- Responsible for the development of management reports on the inforce blocks of business.
- Collaborate with actuaries and non-actuaries on investigations and conclusions regarding the inforce blocks.
- Identify, propose, and pursue opportunities to improve the financial or risk position of the inforce blocks outside of the scope of renewal rate setting or repricing.
- Guide direct reports through iterative report development and quantitative or qualitative investigations.
- Develop and nurture team engagement, development, and growth.
- Support a risk aware culture within the team.
- Develop enhancements to create repeatable and scalable processes.
Experience and Education Requirements
Knowledge, Skills & Abilities
Other Requirements
LI-JB1
LI-Remote
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.
1 Top Workplaces USA 2022 – 2023
2 Des Moines Register Top Workplaces 2018 – 2022
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