Actuary Analyst
Kuvare, Des Moines, IA, United States
About Kuvare
Kuvare is on a mission to serve hardworking consumers overwhelmed by the complexities of retirement and is built from the ground up to do so. Our unified financial hub protects the retirement of everyday Americans and the distributors, carriers and investors that serve them. We create life insurance and annuity products that protect consumers’ retirements, and are simplified for distributor partners and financial professionals to sell and service. Kuvare family of companies: retail annuity and life insurance solutions: United Life Insurance Company – Guaranty Income Life Insurance Company – Lincoln Benefit Life; institutional insurance: Kuvare Life Re; bespoke insurance solutions: Ignite Partners.
About the role
This position is part of the Actuarial Development Program for Kuvare Corporate Management (KCM). The Program offers students an array of experiences including life and annuity valuation, modeling and forecasting, product management, asset liability management, and enterprise risk management. The Program is designed with the objective to develop Fellows in the Society of Actuaries.
What you’ll do
As an employee in the Actuarial Development Program, your day-to-day activities will be dependent on the function you are supporting and are expected to change throughout your employment.
Duties and responsibilities include but are not limited to
Valuation tasks
Prepare and help monitor reserve trends monthly on GAAP, statutory, and tax accounting bases
Assist in preparation of Statutory Annual and Quarterly Statements
Update valuation models and organize results for management
Assist in gathering information and analysis for external auditor inspections
Pricing & product development
Support rate setting and other non‑guaranteed elements (NGE) process; perform analysis to support business decisions, coordinate signoff, and monitor implementation
Manage projects and stakeholders to promote timely and effective progress on key initiatives
Assist pricing actuaries in designing new products
Lead cross‑functional teams in education, objectives, and product decisions relevant to the product
Manage and communicate pricing risks, profitability, and scenario analysis
Ensure products are built appropriately in administration system and validat[e] test cases
Product management tasks
Produce and improve monthly business monitoring reporting
Produce monthly crediting rate package and process
Coordinate with ALM and system on data and result analysis
Assist in the development and analyze annual illustration actuarial testing models
Assist on special policy illustration requests
Assist on product related projects and requests
Modeling and forecasting tasks
Build and review model inputs to support financial projection capability
Execute and monitor model projections including troubleshooting model calculations
Analyze model output ensuring accuracy with intended model purpose
Risk and investments tasks
Update quarterly stress testing results and compare versus risk appetite and limit
Build quarter end asset model staging for production, for multiple lines of business
Research and implement modeling of complex asset types (structured securities, hybrid securities), investment/reinvestment strategies, cash flow behaviors, and regulations in Moody’s AXIS
Monitor asset and liability duration, report mismatches outside of tolerance
Ancillary responsibilities
Build efficiencies through programming solutions in all aspects of model input and output data manipulation
Assist in the development and production of the own risk and solvency assessment
Assess the impacts of alternate investment or reinvestment strategy
Assist in the development of optimization macros to improve hedging and ALM efficiency
Upon request, reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Qualifications
Analyst
BS in actuarial science, mathematics, finance, statistics, or related area
Proven ability to pass actuarial exams; preferably one exam pass achieved
0‑2 years of full‑time insurance actuarial experience (including prior internships); little prior significant experience expected, although a plus
Understanding of actuarial software, a plus (e.g., AXIS, MG‑ALFA, ARCVal)
Skills / competencies
Strong organizational skills with an elevated level of attention to detail
Demonstrated persistence and ability to deliver results under pressure
Excellent interpersonal, verbal communication, and proofreading skills
Proficient with Microsoft Office, etc.
Must be a flexible self‑starter who can prioritize tasks, follow through and meet deadlines
Ability to work independently with minimal supervision
Proven track record of actuarial exam success
Physical Demands
Normal office working environment, full time with some flexibility. Occasional evening and weekend hours to meet deadlines. Occasional travel is required. Ability to type / perform data entry. Ability to read from a computer screen and paper reports. Express ideas and otherwise communicate with the spoken word.
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Kuvare is on a mission to serve hardworking consumers overwhelmed by the complexities of retirement and is built from the ground up to do so. Our unified financial hub protects the retirement of everyday Americans and the distributors, carriers and investors that serve them. We create life insurance and annuity products that protect consumers’ retirements, and are simplified for distributor partners and financial professionals to sell and service. Kuvare family of companies: retail annuity and life insurance solutions: United Life Insurance Company – Guaranty Income Life Insurance Company – Lincoln Benefit Life; institutional insurance: Kuvare Life Re; bespoke insurance solutions: Ignite Partners.
About the role
This position is part of the Actuarial Development Program for Kuvare Corporate Management (KCM). The Program offers students an array of experiences including life and annuity valuation, modeling and forecasting, product management, asset liability management, and enterprise risk management. The Program is designed with the objective to develop Fellows in the Society of Actuaries.
What you’ll do
As an employee in the Actuarial Development Program, your day-to-day activities will be dependent on the function you are supporting and are expected to change throughout your employment.
Duties and responsibilities include but are not limited to
Valuation tasks
Prepare and help monitor reserve trends monthly on GAAP, statutory, and tax accounting bases
Assist in preparation of Statutory Annual and Quarterly Statements
Update valuation models and organize results for management
Assist in gathering information and analysis for external auditor inspections
Pricing & product development
Support rate setting and other non‑guaranteed elements (NGE) process; perform analysis to support business decisions, coordinate signoff, and monitor implementation
Manage projects and stakeholders to promote timely and effective progress on key initiatives
Assist pricing actuaries in designing new products
Lead cross‑functional teams in education, objectives, and product decisions relevant to the product
Manage and communicate pricing risks, profitability, and scenario analysis
Ensure products are built appropriately in administration system and validat[e] test cases
Product management tasks
Produce and improve monthly business monitoring reporting
Produce monthly crediting rate package and process
Coordinate with ALM and system on data and result analysis
Assist in the development and analyze annual illustration actuarial testing models
Assist on special policy illustration requests
Assist on product related projects and requests
Modeling and forecasting tasks
Build and review model inputs to support financial projection capability
Execute and monitor model projections including troubleshooting model calculations
Analyze model output ensuring accuracy with intended model purpose
Risk and investments tasks
Update quarterly stress testing results and compare versus risk appetite and limit
Build quarter end asset model staging for production, for multiple lines of business
Research and implement modeling of complex asset types (structured securities, hybrid securities), investment/reinvestment strategies, cash flow behaviors, and regulations in Moody’s AXIS
Monitor asset and liability duration, report mismatches outside of tolerance
Ancillary responsibilities
Build efficiencies through programming solutions in all aspects of model input and output data manipulation
Assist in the development and production of the own risk and solvency assessment
Assess the impacts of alternate investment or reinvestment strategy
Assist in the development of optimization macros to improve hedging and ALM efficiency
Upon request, reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Qualifications
Analyst
BS in actuarial science, mathematics, finance, statistics, or related area
Proven ability to pass actuarial exams; preferably one exam pass achieved
0‑2 years of full‑time insurance actuarial experience (including prior internships); little prior significant experience expected, although a plus
Understanding of actuarial software, a plus (e.g., AXIS, MG‑ALFA, ARCVal)
Skills / competencies
Strong organizational skills with an elevated level of attention to detail
Demonstrated persistence and ability to deliver results under pressure
Excellent interpersonal, verbal communication, and proofreading skills
Proficient with Microsoft Office, etc.
Must be a flexible self‑starter who can prioritize tasks, follow through and meet deadlines
Ability to work independently with minimal supervision
Proven track record of actuarial exam success
Physical Demands
Normal office working environment, full time with some flexibility. Occasional evening and weekend hours to meet deadlines. Occasional travel is required. Ability to type / perform data entry. Ability to read from a computer screen and paper reports. Express ideas and otherwise communicate with the spoken word.
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