Actuary III - Capital Analysis- Remote

Symetra; United States; Hybrid; USD 137,000 - 230,000; Full time

Job summary

Join a forward-thinking company as an Actuary III, where you'll play a pivotal role in enterprise-wide capital management. This position offers the chance to work closely with senior management on strategic capital initiatives and lead a team of actuaries. Your expertise will be crucial in conducting risk-based capital calculations and providing insights that drive decision-making. With a strong emphasis on professional development and a commitment to diversity and inclusion, this innovative firm is dedicated to empowering its employees and fostering a collaborative work environment. If you're ready to make a meaningful impact in the financial services industry, this opportunity is for you!

Benefits

401(k) Plan with Company Matching

Paid Time Off including Sick Days

Flexible Telecommuting Options

Community Engagement Programs

Qualifications

• 6+ years of insurance-related actuarial experience required.
• Must have completed FSA or ASA exams.
• Strong quantitative background is essential.

Responsibilities

• Lead capital management and reporting for US and Bermuda entities.
• Supervise junior actuarial staff and manage projects.
• Conduct risk-based capital calculations and forecasts.

Skills

Quantitative Analysis

Actuarial Science

Risk Management

Communication Skills

Problem Solving

Education

Bachelor's Degree in Mathematics or Actuarial Science

Tools

Actuarial Software

Statistical Analysis Tools

Job description

Symetra has an exciting opportunity to join our team as an Actuary III in Enterprise Risk Management!

About this role

In this role, you will play a key part in Symetra's enterprise-wide capital management. In addition to recurring capital reporting, analysis, and projections for both US and Bermuda entities, this person will be involved in analyzing Corporate strategic capital initiatives. This role provides the opportunity to work closely with senior management and internal stakeholders regarding a variety of capital-related projects.Manages a team and/or a distinct body of work within a product line Distinguished from the Actuary II position via demonstrated highest-level technical abilities that is a limited skillset at the company and/or additional leadership & management responsibilities. Seen as an apprentice to the aligned AVP or VP or represents a niche skillset. Supervises or guides work of more junior actuarial staff.

What you will do

In this role, you will lead the preparation, review, and analysis of the following:

• NAIC Risk Based Capital (RBC) and Bermuda Solvency Capital Requirement (BSCR) calculations performed on a quarterly basis, including ad-hoc sensitivity analysis and waterfall analysis to explain changes in the RBC and BSCR ratios and comparisons to plan


• Allocation of capital from the corporate surplus account to product lines such that each division is allocated enough capital for their needs


• RBC and BSCR forecasts to determine company-wide capital needs on an annual basis as part of the multi-year financial plan


• Annual rating agency capital models, including S&P and AM Best


• Reporting of capital allocation risk limits and related analysis to Symetra's parent company


• Annual filing of RBC and BSCR year-end reports to NAIC and Bermuda Monetary Authority (BMA)


• Providing capital factors for the divisional actuarial pricing teams every quarter so the divisions can price their products to appropriate capital levels


• Updating Symetra Investment Management on the capital implications of different asset types to determine optimal capital-efficient investment strategies


• Follow industry developments regarding capital calculations such as RBC, BSCR, and rating agency capital model changes


• Analyze ad-hoc capital-related strategic initiatives such as analysis of reinsurance transactions. Determine the capital impacts of such initiatives to help the Capital Solutions Team prioritize strategic capital initiatives.


• Assist with the implementation of such capital strategic initiatives and liaison with product lines as needed.


• Manage one actuary or actuarial student and provide guidance, coaching, and development opportunities on an ongoing basis

Why work at Symetra

"If you want to invest in yourself and build a career, this is a great place to work. If you don't want to put in the effort to learn the industry and become a student of the business (it takes real effort!), there are easier places to work." Cris H. - AVP Internal Sales, Training and Development

"Symetra is inclusive of all employees regardless of their personal differences." Darrell J. - Actuary III

"Symetra values learning. Symetra has so many resources - whether that is the Student of the Business courses, sponsorship of professional certifications, or just individual employees being so willing to teach and answer questions." Felicia D. - Financial Reporting Lead Senior Analyst

What we offer you

We don't take a "one-size-fits-all" approach when it comes to our employees. Our programs are designed to make your life better both at work and at home.

• Flexible full-time or hybrid telecommuting arrangements


• Plan for your future with our 401(k) plan and take advantage of immediate vesting and company matching up to 6%


• Paid time away including vacation and sick time, flex days and ten paid holidays


• Give back to your community and double your impact through our company matching


• Want more details? Check out our Symetra Benefits Overview

Compensation

Salary Range:$137,500 - $229,200plus eligibility for annual bonus programs

Who you are

• Bachelors degree or equivalent with strong quantitative background including college level mathematics.


• 6+ years of insurance related actuarial experience. Typically 8+ years of experience.


• Finished with actuarial exams (FSA), or career or ASAs with 15+ yrs exp and strong performance.


• Finished with actuarial exams (FSA), or career ASAs with 15+ yrs. exp and strong performance.


• Demonstrated, highly effective communication skills.


• Proactively communicates without prompting and independently drives action to address work needs.


• Communicates with senior leadership and executive management.


• Is able to effectively communicate technical issues to non-actuarial staff.


• Familiarity with new types of tools that are available or that are being implemented to support actuarial work.


• Well-established sense of using the right tool for the work and able to determine which tools already exist in the environment that can be utilized.


• Is well-versed in technology strategies that have been adopted by the company.


• May have deep technical expertise in a very specific technology or software that supports actuarial work.


• Advanced knowledge of actuarial concepts and assumptions used for modeling, pricing, and financial reporting.


• Supports innovative actuarial concepts independently.


• Is capable of driving changes in actuarial or business practices towards future best practices.


• Examples would be leading changes to risk management, underwriting, and modeling practices.


• Is able to lead changes in actuarial process workflows toward modernized approaches.


• Demonstrates this depth with quality advice and recommendations.Proven ability to work independently and manage and mentor junior actuaries.


• Able to independently identify business problems and consistently demonstrate self-directed problem solving.


• Ability to solve complex actuarial problems independently in a multi-dimensional context or develop solutions using specialized skills.


• Significant knowledge of insurance/products and the industry.


• Experienced in a variety of company, industry, and regulatory actuarial issues.

Travel:

Required Training & Professional Development

• All newly hired people leaders with direct reports are required to complete a comprehensive leadership development program within their first year. This program includes both virtual and in-person training. The in-person sessions will take place at Symetra's corporate headquarters in Bellevue, Washington. Symetra covers all travel and accommodation expenses.


• Reasonable Accommodations
  Symetra is committed to providing equitable access to all job-related responsibilities, including required travel. If reasonable accommodations are needed for travel, Symetra's HR department will work to provide appropriate solutions in alignment with individual needs and company policies.

We empower inclusion

At Symetra, we aspire to be the most inclusive insurance company in the country. We're building a place where every employee feels valued, respected, and has opportunities to contribute. Inclusion is about recognizing our assumptions, considering multiple perspectives, and removing barriers.

We accept and celebrate diverse experiences, identities, and perspectives, because lifting each other up fuels thought and builds a stronger, more innovative company. We invite you to learn more about our efforts Here.

Creating a world where more people have access to financial freedom

Symetra is a national financial services company dedicated to helping people achieve their financial goals and feel confident about the future. In our daily work, we're guided by the principles of Value, Transparency and Sustainability. This means we provide products and services people need at a competitive price, we communicate clearly and openly so people understand what they're buying, and we design products-and operate our company-to stand the test of time. We're committed to showing up for our communities, lifting up our employees, and standing up for diversity, equity and inclusion (DEI). Join our team and help us create a world where more people have access to financial freedom.

For more information about our careers visit: https://symetra.eightfold.ai/careers

Work Authorization

Employer work visa sponsorship and support are not provided for this role. Applicants must be currently authorized to work in the United States at hire and must maintain authorization to work in the United States throughout their employment with our company.

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