Kuvare U.S. Holdings, Inc.
Actuarial Associate
Kuvare U.S. Holdings, Inc., Chicago, Illinois, United States, 60290
Kuvare is a growth-oriented insurance platform that delivers diversified annuities, life insurance, and supplemental products to the middle-income and mass-affluent consumer segments through its acquisition-led growth strategy. Kuvare provides proven capabilities, strategic support, substantial resources, and patient capital to help insurance companies pursue and achieve sustainable growth opportunities. With its patient capital, Kuvare targets differentiated annuity and life insurance companies to bring into its family of brands.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.We have several open positions in the following departments:Asset Modeling
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 toValuation TasksPrepare and help monitor reserve trends monthly on GAAP, statutory, and tax accounting basesDevelop management reporting for existing businessAssist in preparation of Statutory Annual and Quarterly StatementsUpdate Valuation models and organize results for management.Assist in gathering information and analysis for external auditor inspectionsSupport rate setting and other non-guaranteed elements (NGE) process; perform analysis to support business decisions, coordinate signoff, and monitor implementation.Monitor emerging product experience, manage actuarial assumptions and identifying any new risksCoordinate and assist with cross-functional initiatives related to product development and reportingOversee Life and/or Annuity product illustrations; provide support to Customer Service on exemptions and escalated requestsDevelop relationships with internal and external distribution (sales) stakeholdersManage projects and stakeholders to promote timely and effective progress on key initiativesAssist Pricing Actuaries in designing new productsLeading cross-functional teams in education, objectives, and project decisions relevant to the productManaging and communicating pricing risks, profitability, scenario analysisKey contributor in implementation of product across downstream teamsReinsurance: developing RFP for risk sharing, analysis of existing and potential treaties, developing relationships with counterparts at reinsurersResponsible for certifications within Actuarial Memoranda submitted to state regulatory bodies for product filingsSupport development and review of contract language and other filing requirementsEnsure products are built appropriately in administration system and validating test casesProduct Management TasksProduce, present, and improve monthly business monitoring reportingProvide insight and analysis to inforce experience trendsProduce monthly crediting rate package and processCoordinate with ALM and System on data and result analysisAssist in the development and analyze annual Illustration Actuary testing modelsAssist on special policy illustration requestsAssist on Product related projects and requestsModeling and Forecasting TasksBuild and review model inputs to support financial projection capabilityExecute and monitor model projections including troubleshooting model calculationsAnalyze model output ensuring accuracy with intended model purposeRisk and Investement TasksUpdate quarterly stress testing results and compare versus risk appetite and limitMonitoring investment portfolio to ensure compliance with guidelines and limitsMonitor asset and liability duration, report mismatches outside of tolerancePrepare weekly hedging file, monitor hedge position and resultsAssist with competitive analysis and manager performance benchmarkingAncillary ResponsibilitiesAssess reasonableness of reserves as new blocks of business are acquiredAssess product features and determine product management strategies as new blocks of business are acquiredBuild efficiencies through programming solutions in all aspects of model input and output data manipulationAssist in the development and production of the Own Risk and Solvency AssessmentAssess the impacts of an alternate investment or reinvestment strategyServe as SME to actuarial data warehouse development, operations, IT, customer support and other functionsAssist in the development of optimization macros to improve hedging and ALM efficiencyUpon request, reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.Kuvare company is an equal opportunity employer that makes hiring decisions based on merit, qualifications, and the business need. We are dedicated to a policy of nondiscrimination in employment on any basis including age, sex, color, race, creed, national origin, religious persuasion, marital status, political belief, or disability that does not prohibit performance of essential job functions. We encourage all qualified candidates to apply.Apply for this role
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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 toValuation TasksPrepare and help monitor reserve trends monthly on GAAP, statutory, and tax accounting basesDevelop management reporting for existing businessAssist in preparation of Statutory Annual and Quarterly StatementsUpdate Valuation models and organize results for management.Assist in gathering information and analysis for external auditor inspectionsSupport rate setting and other non-guaranteed elements (NGE) process; perform analysis to support business decisions, coordinate signoff, and monitor implementation.Monitor emerging product experience, manage actuarial assumptions and identifying any new risksCoordinate and assist with cross-functional initiatives related to product development and reportingOversee Life and/or Annuity product illustrations; provide support to Customer Service on exemptions and escalated requestsDevelop relationships with internal and external distribution (sales) stakeholdersManage projects and stakeholders to promote timely and effective progress on key initiativesAssist Pricing Actuaries in designing new productsLeading cross-functional teams in education, objectives, and project decisions relevant to the productManaging and communicating pricing risks, profitability, scenario analysisKey contributor in implementation of product across downstream teamsReinsurance: developing RFP for risk sharing, analysis of existing and potential treaties, developing relationships with counterparts at reinsurersResponsible for certifications within Actuarial Memoranda submitted to state regulatory bodies for product filingsSupport development and review of contract language and other filing requirementsEnsure products are built appropriately in administration system and validating test casesProduct Management TasksProduce, present, and improve monthly business monitoring reportingProvide insight and analysis to inforce experience trendsProduce monthly crediting rate package and processCoordinate with ALM and System on data and result analysisAssist in the development and analyze annual Illustration Actuary testing modelsAssist on special policy illustration requestsAssist on Product related projects and requestsModeling and Forecasting TasksBuild and review model inputs to support financial projection capabilityExecute and monitor model projections including troubleshooting model calculationsAnalyze model output ensuring accuracy with intended model purposeRisk and Investement TasksUpdate quarterly stress testing results and compare versus risk appetite and limitMonitoring investment portfolio to ensure compliance with guidelines and limitsMonitor asset and liability duration, report mismatches outside of tolerancePrepare weekly hedging file, monitor hedge position and resultsAssist with competitive analysis and manager performance benchmarkingAncillary ResponsibilitiesAssess reasonableness of reserves as new blocks of business are acquiredAssess product features and determine product management strategies as new blocks of business are acquiredBuild efficiencies through programming solutions in all aspects of model input and output data manipulationAssist in the development and production of the Own Risk and Solvency AssessmentAssess the impacts of an alternate investment or reinvestment strategyServe as SME to actuarial data warehouse development, operations, IT, customer support and other functionsAssist in the development of optimization macros to improve hedging and ALM efficiencyUpon request, reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.Kuvare company is an equal opportunity employer that makes hiring decisions based on merit, qualifications, and the business need. We are dedicated to a policy of nondiscrimination in employment on any basis including age, sex, color, race, creed, national origin, religious persuasion, marital status, political belief, or disability that does not prohibit performance of essential job functions. We encourage all qualified candidates to apply.Apply for this role
First NameLast NameEmailPhoneAttach cover letter (optional) (2MB max, PDF or DOC)
#J-18808-Ljbffr