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Valuation Actuary, Variable Annuities (Hybrid)

Company: Protective Life Insurance Company
Location: Birmingham
Posted on: November 25, 2022

Job Description:

The work we do has an impact on millions of lives, and you can be a part of it.We help protect our customers against life's uncertainties. Regardless of where you work within the company, you'll be helping provide protection and peace of mind when our customers need it most.
We are seeking an experienced person for an open position on the variable annuity Valuation Team. The person selected for this role will help drive the overall success of the variable annuity valuation team and the company's critical financial reporting obligations. This highly visible role will interact with other departments and individuals within the organization and play a key role interacting with Finance by analyzing key drivers of earnings. This position is responsible for performing Statutory, GAAP and Tax valuation of variable annuity using AXIS software. These financial reporting responsibilities take up about 3 weeks each quarter. The remainder of his/her time will be playing an essential role in business process improvements, such as consolidating valuation models, streamlining valuation/projection/reporting processes, implementation of Value of New Business (VNB), implementation of new regulations as well as supporting admin system conversion projects. Responsibilities:

  • Performing quarterly Stat, Tax and GAAP valuations and earning variance analysis.
  • Preparing monthly, quarterly, and annual reports for internal and third-party clients.
  • Preparing and reviewing SOX controls.
  • Maintaining and improving the valuation and business plan models.
  • Evaluating impacts of model updates and improvements.
  • Developing automation tools for reporting/analysis as needed.
  • Participating in data /reserve reconciliation for admin conversion projects.
  • Other job duties as assigned, including ad hoc management reports.
  • Interact with other departments and individuals within the organization.Qualifications:
    • Bachelor's degree
    • 4 or more years of analytical experience within the insurance industry
    • Excellent spreadsheet and technical skills such as SQL server coding skill
    • Hard working
    • Analytical and inquisitive
    • Capable to learn new software and coding languages
    • Ability to work independently or on a team
    • Excellent communication skills
    • Knowledge and experience on annuity products are preferred
    • Previous valuation experience is preferred
    • Experience using AXIS software is strongly preferred

      Employee Benefits: We aim to protect our employees' wellbeing through a broad benefits offering. For example, we protect physical wellbeing through health, dental and vision insurance. We protect mental wellbeing through mental health benefits and an employee assistance program. We protect time away from work with a variety of paid time away benefits (e.g., paid time off, paid parental leave, short-term disability, and a cultural observance day). We protect financial wellbeing through contributions to healthcare accounts, a pension plan, and a 401(k) plan with Company matching. All employees are encouraged to protect their overall wellbeing by engaging in ProHealth Rewards, Protective's platform to improve wellbeing while earning cash rewards. Eligibility for certain benefits may vary by position in accordance with the terms of the Company's benefit plans.
      Diversity and Inclusion: At Protective, we are committed to providing an inclusive culture where all employees are able to fully contribute and thrive. Our goal is to grow and develop our people, attract diverse talent and support strong, diverse communities.
      We support diversity, equity, and inclusion by working to develop a culture of inclusion and belonging led by leaders who develop potential and embrace unique skills and abilities. Our aim is to create an equitable and accountable environment for all leaders and employees that will drive performance and impact business strategy. In this way, we can increase overall diversity for leadership roles and pipelines of talent by maturing our hiring practices, robust development opportunities and focus on retention of key talent.
      We are proud to be an equal opportunity employer committed to being inclusive and attracting, retaining, and growing the talents of a diverse and inclusive workforce.

Keywords: Protective Life Insurance Company, Birmingham , Valuation Actuary, Variable Annuities (Hybrid), Other , Birmingham, Alabama

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