Actuary IV (US)

Aflac, Incorporated; Atlanta (GA); Hybrid; USD 110,000 - 140,000; Full time

Benefits offered by this job

Medical, dental, vision

401(k) with company match

Annual bonuses

Stock purchase plan

Generous PTO

Job summary

Aflac, Incorporated in the United States is seeking an experienced actuarial modeler to build and maintain actuarial models for pricing, reserving, forecasting, embedded values and capital calculations for Aflac Re Bermuda LTD. The role requires strong governance, reporting, and collaboration with senior management.

You will code and parametrize models, ensure accuracy, and implement enhancements to improve efficiency and governance.

Qualifications

• Bachelor’s Degree in Actuarial Science, Mathematics, Computer Science or a related field
• FSA designation from the SOA or ASA with experience is required
• Hands-on modeling experience in ALM/capital modeling
• Experience with Bermuda or market-consistent reserve and capital methodology is preferred

Responsibilities

• Conducts analysis, pricing and risk assessment to estimate financial outcomes in complex actuarial situations
• Leads model validation and audit-ready documentation efforts
• Develops, enhances, and maintains interactive asset and liability models
• Performs ALM stress testing and scenario analysis
• Communicates findings clearly to managers, executives, and external parties
• Supports cross-functional teams and project leadership

Skills

Actuarial modeling

ALM modeling

Data analysis

Model governance

Communication

Education

Bachelor’s Degree in Actuarial Science/Mathematics/CS

Tools

Excel

SQL

MG-Alfa

Prophet

AXIS

Job description

$110,000 to $140,000

We’ve Got You Under Our WingWe are the duck. We develop and empower our people, cultivate relationships, give back to our community, and celebrate every success along the way. We do it all…

.

Aflac, a Fortune 500 company, is an industry leader in voluntary insurance products that pay cash directly to policyholders and one of America's best-known brands. Aflac has been recognized as Fortune’s 50 Best Workplaces for Diversity and as one of World’s Most Ethical Companies by Ethisphere.com.

Our business is about being there for people in need. So, ask yourself, are you the duck? If so, there’s a home, and a flourishing career for you at Aflac.

Worker Designation

– This role is

hybrid

. This means you will be expected to report to one of our Aflac offices located in Columbus, GA for at least 60% of the work week. You will work from your home (within the continental US) for the remaining portion of the work week. Details of this schedule will be discussed with your leadership.

Job SummaryLocated in the U.S., this experienced modeler role performs varied actuarial services including coding, building and maintaining actuarial models for pricing, reserving, forecasting, embedded values and capital calculations for Aflac Re Bermuda LTD (Aflac Re), a Bermuda domiciled insurer that provides reinsurance solutions. This role is expected to ensure accuracy and reasonability of the outputs from the models and is capable of customizing reports and analysis to explain the results at the level that is suitable for senior management. The role is expected to recommend and implement enhancements to improve efficiency, documentation and model governance.

This role reports to the Aflac Re Chief Actuary.

With minimal supervision, the candidate is expected to code, parametrize, and utilize actuarial models to solve problems which may include: pricing, reserving/reserve testing, experience studies, business planning, or capital planning, and analyzes output from models for reasonability and generates reports. The candidate should make adjustments and improvements to models, when appropriate and draws on extensive experience and judgment to plan and accomplish goals.

What does it take to be successful at Aflac?Acting with IntegrityCommunicating EffectivelyPursuing Self-DevelopmentServing CustomersSupporting ChangeSupporting Organizational GoalsWorking with Diverse Populations

What does it take to be successful in this role?Proficient at coding models with at least one or more of the following applications (Excel, SQL, MG-Alfa, Prophet, AXIS

Strong familiarity with model governance, best practices and ability to implement independent model validation frameworks

Extensive expertise with reserve and capital methodology and working knowledge under market consistent regimes

The ability to adhere to Aflac and Aflac Re policies and procedures

Some understanding of reinsurance

Strong written and oral communication skills

Strong internal/external customer service skills

Actuarial Competencies• Technical Knowledge & Skill - Comprehensive

Performs data analysis, synthesizes it into something meaningful, and develops materials and presentation of findings. Understands data limitations and considers influence of business processes, market segmentation strategies, and industry factors on analysis. Identify, set, and defend actuarial and financial assumptions; develop, enhance, and deliver actuarial and financial models that effectively evaluate risk.

•

Project Management

-

Comprehensive

Can effectively lead projects, including those with cross-functional accountabilities. Highly responsive to dynamic business needs while partnering with other functional or operational areas. Identifies and initiates projects suggested by business needs or strategies and reprioritizes work/seeks resources as necessary.

•

Communication -

Comprehensive

Understand and explain business issues and potential solutions in a way that results in informed decision making. Proactively and routinely seeks out business partners to provide timely summary of practice area results. Has clear examples of delivering business concepts and messaging to a wide variety of audiences.

•

Business Knowledge & Acumen - Advanced

Aligns actuarial analysis and findings with the broader goals of the organization. Understands all of Aflac's products and business functions. Looks at problems from the overall business framework, rather than only a technical framework, and links the technical actuarial analysis to the bottom line.

•

Delivers Results

- Comprehensive

Develops projects, plans, and priorities that are consistent with business initiatives and goals. Consistently achieves results, personally and through others that contribute business value. Develops actions that lead to stated business goals based on actuarial or financial findings.

•

Develops Self & Others

- Advanced

Steps outside actuarial competencies and develops broader business acumen -- goes beyond the technical aspect of a problem. Creates valued business partnerships based on consulting advice provided; seeks out opportunities to mentorothers. Participates in new and challenging work experiences outside of one's own functional area.

•

Influencing - Advanced

Interprets business and technical information in a way that influences key decision makers / stakeholders. Drives discussions on meaningful business issues and potential solutions with external partners. Demonstrates the ability to build agreement, commitment, cooperation, and enthusiasm for recommendations -- even with difficult messages.

•

Makes Effective Decisions - Comprehensive

Provides timely analysis to reach a recommendation, even with incomplete data; not averse to simply approximate an answer. Includes others in decision making as warranted to obtain good input and ensure buy-in for decisions. Evaluates options by considering implications and consequences -- makes decisions outside the bounds of "the way it's always been done”.

•

Values Driven

- Interacts with others in a way that gives them confidence in one's intentions. Listens with respect and objectivity even when others' opinions conflict with one's own. Adheres to standards of professional conduct

•

Builds Talent

- Intermediate Develops staff or others with the competencies of business leaders, not just subject matter experts. Provides cross-functional project or mentoring opportunities. Takes bold action to ensure strong, diverse talent and leadership pipeline in place to meet Aflac's aggressive business goals.

•

Engages Employees to the Vision

- Intermediate

Ensures that others understand their roles in achieving area and business priorities. Inspires others to act in alignment with financial and corporate goals and initiatives. Involves employees in decision making, milestone setting, timely one-on-ones, and key business information.

Education & Experience RequiredBachelor’s Degree in Actuarial Science, Mathematics, Computer Science or a related fieldAn FSA designation from the SOA (required) and a minimum of 5 years of experience working in the actuarial field or an ASA designation from the SOA (required) and a minimum of 8 years of experience working in the actuarial fieldCurrently a candidate in or qualified to become a candidate in the Aflac Actuarial Development Program (ASA and recent FSA)Hands-on modeling experience in ALM modeling and/or capital modelingExperience with Bermuda (re)insurance regulatory frameworks or other jurisdictions that adopt market consistent approach to reserve and capital methodologyOr an equivalent combination of education and experience

Education & Experience RequiredExperience with economic capital modeling, stress testing, and cash flow testing as part of solvency and financial condition assessments

Principal Duties & ResponsibilitiesConducts analysis, pricing and risk assessment to estimate financial outcomes in complex actuarial situations; applies knowledge of mathematics, probability, statistics, principles of finance and business to calculations; Works extensively with other departments (eg. product development, financial, compliance, and Japanese colleagues) to complete assignments on schedule

Focuses on automation, streamlining and process enhancement to increase efficiency and adhere to best practices and internal controls

Uses expertise with standard concepts, practices, and procedures and relies on judgment and business acumen where limited experience exists to plan and accomplish goals

Communicates clearly and succinctly the findings of actuarial work to managers, executives, and external parties in an appropriate manner for the benefit of Aflac

Prepare ad-hoc reports requested by internal customers (e.g. Underwriting) as well as external customers (e.g. Insurance Departments)

Develops, enhances, and maintains an interactive asset and liability model

Performs ALM stress testing and scenario analysis

Leads model validation and audit-ready documentation efforts, ensuring compliance with local and internal regulatory requirements that include and not limited to model documentation, model change management and process documentation.

Is proactive and a self-starter, and works with people remotely in different time zones and regions

Provides support to Aflac Inc. or its affiliates (other than Aflac Re Bermuda) as requested from time to time

This is not an exhaustive list, and the Actuary shall be expected to perform other duties as required

TravelLess than or equal to 10%

Total RewardsThe salary range for this job is $110,000 to $140,000. This range is specific to the job and salary offers consider a wide range of factors that are considered in making compensation decisions, including, but not limited to: education, experience, licensure, certifications, geographic location, and peer compensation. The range has been created in good faith based on information known to Aflac at the time of the posting.

At Aflac, it is not typical for an individual to be hired at or near the top of the range for the role to allow for future and continued salary growth, and compensation decisions are dependent on the circumstances of each case. This salary range does not include any potential incentive pay or benefits, however, such information will be provided separately when appropriate.

In addition to the base salary, we offer an array of benefits to meet your needs including medical, dental, and vision coverage, prescription drug coverage, health care flexible spending, dependent care flexible spending, Aflac supplemental policies (Accident, Cancer, Critical Illness and Hospital Indemnity offered at no costs to employee), 401(k) plans, annual bonuses, and an opportunity to purchase company stock. On an annual basis, you’ll also be offered 11 paid holidays, up to 20 days PTO to be used for any reason, and, if eligible, state-mandated sick leave (Washington employees accrue 1-hour sick leave for every 40 hours worked) and other leaves of absence, if eligible, when needed to support your physical, financial, and emotional well-being. Aflac complies with all applicable leave laws, including, but not limited to, sick and safe leave, and adoption and parental leave, in all states and localities.