Product Actuarial Director, Product Manager Life and Specialty Products
Job Description
Direct the Product & Risk Management Professional Services Group and to fulfill the actuarial responsibilities of: product design, development and pricing, product maintenance, experience monitoring and analysis, product risk management, state rate filings and approvals and compliance with regulations pertaining to actuarial issues for all products direct and assumed for American Public Life
Responsible for recruiting and hiring decisions, compensation, student programs, and department policies.
Provide strategic direction and business plans for all product lines for APL. Accountable for profitable growth, working collaboratively with senior leaders to identify and address product needs and advise on courses of action for product lines. Serve as Illustration Actuary for AFA life products as needed.
Perform Risk management for APL and advise President and Board on financial and risk issues. Identify vulnerabilities and implement the corrective action needed in partnership with senior leadership, including areas of field compensation and incentives programs, underwriting and risk tolerance, large case management, product mix and profitability, and target markets. Directly responsible for budgeting (earned premium, incurred claims, commissions, technology fees, TPA fees, and marketing fees), loss ratio management across entire portfolio, establishment and enforcement of underwriting rules, rate management and group rating, and guidance for underwriting practices for all product lines. Direct the underwriting team on the proper risk review of in force and newly acquired groups. Interact with Sales Leadership and key producers to understand their business model and develop appropriate solutions to meet their needs effectively. work with senior leadership team members to evaluate and price new business opportunities.
Skills of the Ideal Candidate:
20 or more years of prior life and health actuarial expertise, at least 15 of which should be in pricing and product development or related areas
At least ten years of supervisory experience
Experience in product risk management, profitability and growth analysis, pricing, product development, experience analysis and product maintenance
Strong oral and written communication skills including outstanding interpersonal and consultative skills
Demonstration of a high level of administrative competence and excellence in analyzing organization procedures and maximum efficiency
Understanding of APL niche markets, marketplace needs and distribution methods
Ability to communicate extremely technical concepts and work in terms that a non-technical person can basically understand
Meet the educational and experience requirements to sign actuarial memorandums for all supplemental worksite products.
Comprehensive knowledge of product development, pricing and maintenance, with the ability to analyze profit projections and make decisions/recommendations based upon the analysis
General knowledge and understanding of reserving and unit value methodologies
Understanding of APLs internal operation and administration systems
Understanding of product-related regulations, compliance, legal, advertising, taxation and market conduct issues
Experienced with actuarial pricing and projection systems
Understanding of reinsurance methods and their impact on profitability and risk management
Thorough understanding of the risks underlying each product and methods of risk management
Ability to think outside the box and find solutions outside of tradition
Strong teamwork, leadership and supervisory skills
Excellent decision-making skills
Ability to conceptualize, generalize and see the big picture
Planning and resource allocation skills
Extremely strong analytical and problem-solving skills
Ability to balance the desire for accuracy with the cost/benefit of resources and financial impact
Ability to work in a fluid, fast-paced work environment
Strong ability to think-on-your-feet, taking into account all pertinent information and quickly deriving responses to the situation
Apply Now
Direct the Product & Risk Management Professional Services Group and to fulfill the actuarial responsibilities of: product design, development and pricing, product maintenance, experience monitoring and analysis, product risk management, state rate filings and approvals and compliance with regulations pertaining to actuarial issues for all products direct and assumed for American Public Life
Responsible for recruiting and hiring decisions, compensation, student programs, and department policies.
Provide strategic direction and business plans for all product lines for APL. Accountable for profitable growth, working collaboratively with senior leaders to identify and address product needs and advise on courses of action for product lines. Serve as Illustration Actuary for AFA life products as needed.
Perform Risk management for APL and advise President and Board on financial and risk issues. Identify vulnerabilities and implement the corrective action needed in partnership with senior leadership, including areas of field compensation and incentives programs, underwriting and risk tolerance, large case management, product mix and profitability, and target markets. Directly responsible for budgeting (earned premium, incurred claims, commissions, technology fees, TPA fees, and marketing fees), loss ratio management across entire portfolio, establishment and enforcement of underwriting rules, rate management and group rating, and guidance for underwriting practices for all product lines. Direct the underwriting team on the proper risk review of in force and newly acquired groups. Interact with Sales Leadership and key producers to understand their business model and develop appropriate solutions to meet their needs effectively. work with senior leadership team members to evaluate and price new business opportunities.
Skills of the Ideal Candidate:
20 or more years of prior life and health actuarial expertise, at least 15 of which should be in pricing and product development or related areas
At least ten years of supervisory experience
Experience in product risk management, profitability and growth analysis, pricing, product development, experience analysis and product maintenance
Strong oral and written communication skills including outstanding interpersonal and consultative skills
Demonstration of a high level of administrative competence and excellence in analyzing organization procedures and maximum efficiency
Understanding of APL niche markets, marketplace needs and distribution methods
Ability to communicate extremely technical concepts and work in terms that a non-technical person can basically understand
Meet the educational and experience requirements to sign actuarial memorandums for all supplemental worksite products.
Comprehensive knowledge of product development, pricing and maintenance, with the ability to analyze profit projections and make decisions/recommendations based upon the analysis
General knowledge and understanding of reserving and unit value methodologies
Understanding of APLs internal operation and administration systems
Understanding of product-related regulations, compliance, legal, advertising, taxation and market conduct issues
Experienced with actuarial pricing and projection systems
Understanding of reinsurance methods and their impact on profitability and risk management
Thorough understanding of the risks underlying each product and methods of risk management
Ability to think outside the box and find solutions outside of tradition
Strong teamwork, leadership and supervisory skills
Excellent decision-making skills
Ability to conceptualize, generalize and see the big picture
Planning and resource allocation skills
Extremely strong analytical and problem-solving skills
Ability to balance the desire for accuracy with the cost/benefit of resources and financial impact
Ability to work in a fluid, fast-paced work environment
Strong ability to think-on-your-feet, taking into account all pertinent information and quickly deriving responses to the situation
Apply Now