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Director, Pricing & Product Actuary

Company: Kuvare Holdings
Location: Cedar Rapids
Posted on: January 16, 2022

Job Description:

This position may be located in Cedar Rapids or Des Moines, Iowa.

The Director, Pricing & Product Development will:
Lead and support initiative related to design and pricing of Life and Annuity products
Serve as the product and pricing expert to internal and external clients
Support rate setting and other non-guaranteed elements (NGE) process
Support Life and/or Annuity Illustrations across the Platform
Monitor emerging product experience and analyze product performance
Support Competitive Intelligence initiative across Department

Duties and Responsibilities
Organize and Maintain AXIS pricing model(s) to provide robust pricing and new business value analyses
Support rate setting and other non-guaranteed elements (NGE) process; perform analysis to support business decisions, signoff, and implementation
Monitor emerging product experience, manage actuarial assumptions and identifying any new risks
Coordinate and lead cross-functional initiatives related to product development and reporting
May Oversee Life and/or Annuity product illustrations; provide support to Customer Service on exemptions and escalated requests
Develop relationships with internal and external distribution (sales) stakeholders
Manage projects and stakeholders to promote timely and effective progress on key initiatives

Responsible for designing and pricing of new products
Leading cross-functional teams in education, objectives, and project decisions relevant to the product
Managing and communicating pricing risks, profitability, scenario analysis
Key figure in implementation of product across downstream teams
Support Reinsurance efforts for risk sharing, analysis of existing and potential treaties, developing relationships with counterparts at reinsurers
Support filing of new products
Responsible for certifications within Actuarial Memoranda submitted to state regulatory bodies for product filings
Support development and review of contract language and other filing requirements
Ensure products are built appropriately in administration system and validating test cases
Provide actuarial support to Platform for hedging programs; provide actuarial elements of the financial plan
Provide input into the acquisition process when called upon
Support Actuarial department beyond product development scope: resource planning, junior staff development, and recruiting

Bachelor's degree in Actuarial Science, Mathematics, Statistics, Economics, Finance or related fields
FSA required; Member of American Academy of Actuaries preferred as well
Experience in Product Development/Pricing strongly preferred; Experience in various actuarial fields such as actuarial modeling, valuation, financial reporting, and systems is helpful
Moody's AXIS skills strongly preferred
Knowledge of filing requirements for insurance products
Relevant Product knowledge of indexed products, annuities and life insurance, including Indexed Universal Life, are a major plus


Deep understanding and up-to-date knowledge of Life and Annuity products and product management
Financial modeling, financial analysis, and working knowledge of accounting standards
Critical thinking and sound judgement
Excellent written and oral communication skills
Demonstrated ability to work effectively with and lead cross-functional teams
Experience mentoring and developing staff
High level of technical and programming competency
Self-starter and strong entrepreneurial spirit

Keywords: Kuvare Holdings, Cedar Rapids , Director, Pricing & Product Actuary, Executive , Cedar Rapids, Iowa

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