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The ARGroup of Search Companies provided pay range
This range is provided by The ARGroup of Search Companies. Your actual pay will be based on your skills and experience — talk with your recruiter to learn more.
Base pay range
$250,000.00/yr - $350,000.00/yr
Direct message the job poster from The ARGroup of Search Companies
Accounting, Finance, Actuarial, Talent Search for Insurance Companies - President at The ARGroup of Search Companies -
Summary:
We’ve been retained on a search for a SVP & Chief Actuary with a life/disability carrier in Westchester County, NY. The scope of the role includes oversight and management of all aspects of the organization's actuarial functions. Currently, this includes supervision of 3 full-time actuarial staff specializing in life, health, and pension, as well as consulting actuaries. Certainly an appropriate role for a current Chief Actuary or for someone in a #2 role but looking for the Head spot. Life, Health, Disability experience is important. FSA, an understanding of GAAP and STAT accounting and valuation experience is key. Compensation is fairly flexible but generally and depending on experience, in the $375,000 - $425,000 range all in.
The Company:
The client was established to support the financial security of working individuals. Over the years, it has evolved to offer a diverse range of insurance solutions catering to various needs. Today, the organization provides group life and disability insurance, accidental death and dismemberment coverage, medical stop-loss insurance, and voluntary benefits such as individual and group disability, accident, portable term life, and critical illness insurance. Through its affiliated entities, the company serves as a comprehensive resource for numerous essential products and services, further enhancing its value proposition to its clientele.
The Scope:
The Senior Vice President & Chief Actuary will play a crucial role in evaluating the financial implications of company-wide initiatives, both direct and indirect, on financial outcomes. This role will also oversee the company's reserve calculations. Additionally, the incumbent will be involved in new product development, contributing expertise in design and pricing, and will serve as a business advisor to the leadership team on special projects, including the annual AM Best Company presentation. Reporting directly to the EVP of Finance, this position will be an integral part of the leadership team, providing strategic insights and guidance on critical financial matters.
The Senior Vice President & Chief Actuary will be the appointed actuary and have responsibility for:
Client’s Actuarial Opinion
Profitability analysis of Client’s product lines and recommendations for updating policies and pricing
Reserving-Statutory and GAAP
Actuarial systems
Profitability and other analyses of reinsurance programs
Analysis of certain strategic partnerships during the diligence phase and the on-going relationship
Capital Planning
Leading of 3 full-time actuarial staff specializing in life, health, and pension, as well as managing consulting actuaries.
Primary Responsibilities:
Provide leadership and strategic oversight between the various actuarial roles that will effectively position the company to take advantage of available opportunities
Coordinate with underwriting, sales and operational departments throughout the sales and implementation cycle for the company's various products
Maintain a comprehensive policy and procedures guide detailing data source extraction, actuarial assumptions, and methodologies used to calculate all reserves
Active management, analysis and recommendations on the group life insurance, medical stop loss, disability and voluntary books of business
Ensure compliance with state and federal requirements for the insurance company
Evaluate, negotiate, and manage reinsurance treaties
Experience and Skill Set:
At least 10-15 years of combined experience with health, life and disability insurance underwriting, reserving and pricing
Strong experience in individual or group life insurance; medical stop loss and voluntary benefits products lines is desired
Deep understanding of market dynamics and demonstrated business acumen
Understanding of GAAP and Statutory accounting
Strong management and supervisory skills, and excellent verbal, written and interpersonal skills
Superior analytical skills and ability to work with financial and other professionals
Excellent organizational, process management skills, as well as computer skills with respect to database management and spreadsheet preparation
Familiarity with New York State valuation and other actuarial matters will be helpful
Experience with reporting to top management
Fellow of the Society of Actuaries
Member, American Academy of Actuaries
Seniority level
Executive
Employment type
Full-time
Job function
Finance and Accounting/Auditing
Industries
Insurance
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