Farmers Insurance Careers – Actuarial Lead

Job Responsibilities:

As IFRST 17 Actuarial Lead, you will lead the development, execution and validation of IFRS 17 actuarial modeling and methodologies, including enhancements/refinements to MG-ALFA and model governance. You will support project delivery (IFRS 17) for UAT and parallel run testing for model runs, and work with other functions and understands the impact between actuarial methodology and data requirements/availability to deliver joint solutions. You will also provide input to senior management to facilitate key program decision making.

Job Responsibilities:

• Represents the Actuarial Department with regards to IFRS 17 by participating in inter-departmental meetings and committees.
• Designs training material and coaches junior staff to provide growth opportunities
• Manage auditable model controls, output reconciliations and process documentation. Responsible for the timely and accurate delivery of actuarial portions of financial statements.
• Maintains actuarial valuation systems to be consistent with End-User computer standards, including required changes as necessary due to IT system changes, product changes, and regulation changes.
• Collaborates with IT to ensure new ZFS/FIG/FNWL processes and procedures are correctly reflected in the actuarial valuation systems.
• Leads the development of IFRS 17 actuarial models and methodologies including enhancements/refinements to MG-ALFA models
• Integrates with the business to assemble action/remediation plans to address IFRS 17 actuarial methodology issues or gaps
• Collaborates with other workstreams (e.g. accounting policy, data, technology and operations) and teams (e.g. Zurich Departments, external experts) in developing and executing IFRS 17 actuarial methodologies including remediation of operational issues that arise as part of methodology development, configuration and testing.
• Supports capital reporting and stress testing requirements locally and to the Group.
• Prepares reports for the senior management on the impact of IFRS 17 actuarial modeling
• Works independently to develop and implement appropriate solutions to ad-hoc actuarial issues.

Job Requirements:

• Corporate experience leading, developing finance and/or actuarial teams ideal (demonstrates strong skills in talent acquisition, development and motivating high performance teams)
• Economic modeling experience and ability to explain economic results including, but not limited to: Market Consistent Embedded Value; Value New Business
• Financial economic familiarity: CFO Forum, Sources of Earnings, Market Consistent Embedded Value; Value New Business
• Experience with other similar economic frameworks, for example: Solvency II and/or LDTI
• Experience with pricing and product profitability
• At least five years of actuarial experience, preferably including managerial experience
• Deep experience with life and annuity products as well as actuarial modeling software, preferably MG-ALFA
• Strong understanding and working knowledge of IFRS 17
• Prior experience in capital reporting and stress testing (ideally MCEV, SII)
• Public Accounting experience and/or Actuarial consulting firm experience ideal; including opinions, valuation sign offs, and/or complex accounting/actuarial implementation experience

Job Details:

Company:  Farmers Insurance

Vacancy Type:  Full Time

Job Location: Oklahoma City, OK, US

Application Deadline: N/A

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