Senior Actuary - Life
Description
We’re KSM, one of the top 50 largest independent advisory, tax, and audit firms in the United States. But more than our size, it’s our people and culture that set us apart. We believe great things happen when people are supported, challenged, and given the freedom to do their very best work. That’s why we’ve built a workplace where your career and personal life can thrive together – where you have the flexibility to manage your time, the resources to grow, and a team that genuinely cares about your success.
We’ve been employee-owned since 2001, giving every team member a stake in our collective success. This ownership mentality fosters a culture of collaboration, curiosity, and excellence – where new ideas are welcomed, different perspectives are valued, and you’re encouraged to explore what excites you most. Whether you’re expanding your skills, tackling new challenges, or making an impact beyond the office, we provide the resources and support to help you grow in the direction that’s right for you.
At KSM, your contributions matter – not just to the firm, but to your colleagues, clients, and the communities we serve across the U.S. If you’re looking for a place where you can do meaningful work, build lasting relationships, and grow in ways that align with what’s most important to you, we’d love to meet you.
Noble Consulting Overview:
Noble Consulting, a KSM Company, is a national leader in insurance regulatory consulting. We provide a full range of services to insurance regulators, combining deep industry expertise with an unwavering commitment to delivering high-quality solutions. Our team includes former regulators, Big Four professionals, and experienced insurance industry specialists, along with recent graduates dedicated to developing their expertise in the field.
As an employee-owned company, we foster a culture where every team member has a stake in our collective success. This ownership mindset drives collaboration, curiosity, and excellence – where fresh ideas are welcomed and continuous learning is encouraged. Whether you’re expanding your skills, taking on new challenges, or contributing beyond the office, we provide the support and resources to help you grow in the direction that’s right for you.
As a subsidiary of Katz, Sapper & Miller (KSM), we leverage the firm’s broader advisory expertise while maintaining our specialized focus on insurance regulation. Headquartered in Indianapolis and serving clients nationwide, we are the trusted advisors regulators rely on to navigate an ever-evolving regulatory landscape with confidence.
Position Summary:
The actuary will support a team of industry professionals on various regulatory consulting projects and other insurance related engagements. In conjunction with the Vice President Actuary, the actuary will support all seven phases of risk-focused statutory examinations of life and A&H insurers, including but not limited to reserving, pricing, and reinsurance activities. The actuary will be responsible for coordinating, directing, and implementing the actuarial portion of a financial examination, including evaluation of the governance and controls of an insurer’s reserving, pricing and/or reinsurance processes and performance of substantive examination procedures. The actuary should demonstrate a deep knowledge of the Annual Statement and associated filings prepared by US life insurance companies, as well as strong risk management skills, including ability to evaluate actuarial and financial risks. The actuary may assist in reviewing premium rate and policy form filings for state insurance department clients, including evaluation of calculation methods and assumptions as necessary. The actuary may also assist with other projects providing valuation or other actuarial support to both regulatory and non-regulatory clients. This position will primarily relate to companies filing the life and A&H annual statement blank but may also perform services related to health insurers.
This position will report to the Vice President Actuary. It will not initially have supervisory responsibilities, but such responsibilities can be expected with growth in the actuarial staff.
Responsibilities:
General
- Evaluate and leverage work of others, including CPAs, actuarial and risk management professionals, and internal auditors.
- Provide support to the Examiner-in-Charge and the examination team related to actuarial process governance and controls.
- Apply the Risk Focused approach in performing financial examinations.
- Lead technical reviews of complex reserving, projection and rating models of life and health insurers.
- Analyze and evaluate life and A&H premium rate and policy form filing support documents, including nonforfeiture compliance for life insurance and annuity filings, loss ratio and related demonstrations of the reasonableness of A&H premiums, and compliance with other laws and regulations. This may include independent testing of ratemaking, nonforfeiture demonstration or other calculations. Reviews requests for significant rate increases.
- Assist regulatory review of reinsurance contracts for compliance with risk transfer and related laws and statutory requirements.
- Serve as a professional advisor and subject matter expert on technical matters of an actuarial nature.
- Prepare accurate and comprehensive reports containing findings, conclusions, and recommendations of an actuarial nature.
- Perform other related duties as required.
Service clients
- Exercise professionalism both on site and near the company.
- Manage the expectations of the client, insurer, your supervisor and other team members.
- Provide the client, insurer, and your supervisor with regular status updates.
- Dynamic flexible demeanor with superior client service skills.
Monitor and meet budgets
- Assist in development of project budgets and proposals.
- Work with supervisor to manage timelines and budgets.
- Provide supervisor advance notice when deliverables are near completion.
Ensure quality of work product
- Coordinate actuarial support with non-actuarial project requirements.
- Communicate the project objectives and responsibilities of actuarial team members.
- Perform/review work completed in a timely manner.
- Identify opportunities for improvements.
- Identify and work towards resolution of potential issues.
- Development and implement process efficiencies.
- Assist other team members as needed.
Expand business and/or network
- Ability to interact with all levels including executives and senior management.
- Participate in networking meetings, lunches, and dinners.
- Participate in NAIC, AAA and other regulatory development activities.
- Develop and maintain relationships with key contacts.
Personal Development
- Participate in performance reviews with Noble staff and project debriefing.
- Ensure evaluations are received/administered as per Noble Consulting policy.
- Complete basic and continuing education requirements in accordance with actuarial qualification standards
- Maintain up to date knowledge of laws, regulations, actuarial guidelines, actuarial standards of practice and other guidance applicable to life and A&H actuarial practice.
- Embrace opportunities to expand responsibility.
- Share knowledge of actuarial best practices and actuarial standards of practice within the firm and the regulatory community.
Deliver conclusions and work product
- Communicate proactively throughout engagements.
- Provide conclusions in work performed, including summary memos of any findings.
Requirements/Qualifications:
- Bachelor’s Degree in mathematics, actuarial science, statistics, economics, or other related business field.
- Knowledge of key life actuarial concepts: reserving, financial modeling and analysis, product development and pricing, risk management, reinsurance, asset liability management.
- Minimum experience of 10+ years professional experience in a life insurance company, financial services or consulting firm, or regulatory agency in the United States.
- Designation of Fellow of the Society of Actuaries (or equivalent) and membership in the American Academy of Actuaries.
- Demonstrated experience leading, auditing or examining US statutory valuation, asset adequacy analysis, asset and liability modeling, or similar processes.
- Deep knowledge of methods, assumptions and US statutory guidance for the valuation of two or more of the following product types: fixed deferred annuities, variable annuities, term life insurance, variable life insurance, universal life insurance with and without secondary guarantees, long term care, long term disability.
- Experience performing, leading or reviewing valuations under VM-20 or VM-21.
- Working knowledge of valuation issues related to life and annuity reinsurance, including offshore, affiliate and captive reinsurance, is preferred but not required.
- PC skills including experience and working knowledge of Microsoft Excel, Word and Outlook, TeamMate, ACL/Access, and other applications. Experience using life actuarial systems - MG-ALFA/Triton, Prophet, Axis, etc. – is a plus but is not required.
- Capable of leveraging past experience and expertise to adapt to current projects and challenges outside of core skill set.
- Solid communication skills, both verbal and written. A commitment to the financial strength of the US insurance industry and the regulatory process to maintain that strength.
We are an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to age, color, sex, sexual orientation, gender identity, disability, genetic information, national origin, race, religion, veteran status, or any other protected category.
KSM only accepts resumes directly submitted by a candidate and referrals submitted by current KSM employees. Unsolicited resumes or candidate profiles sent by staffing agencies and fee-based referral services will not be considered outside of a signed KSM vendor contract. KSM will not pay a fee to recruiters or agencies that do not have a signed KSM vendor contract.