Director, Annuity Product and Pricing Actuary
Job Description for Director & Actuary, Annuity Pricing and Profitability Management Job Title: Director & Actuary, Annuity Pricing and Profitability Management Department: Actuarial Reports To: AVP, Annuity Pricing and Product Development Lead Major Duties and Responsibilities
- Lead rate-setting and manage profitability for current MYGA/FIA products; collaborate with business and corporate functions to ensure profitable growth of the company’s annuity book
- Maintain and enhance pricing assumptions, methodologies, analytics, data systems, models, and tools supporting product development and management
- Drive pricing initiatives for new and existing products by conducting market research, developing business cases, designing product concepts, defining pricing frameworks, performing pricing analyses, and presenting recommendations to key stakeholders and senior leadership
- Support new product implementation by coordinating with distribution, marketing, product, finance, and IT teams to meet operational, financial, and regulatory requirements
- Contribute to corporate initiatives such as financial planning, VM-22, reinsurance strategy, and investment/hedging analysis, as well as respond to ad-hoc requests from business partners
Job Qualifications
- Bachelor’s degree in mathematics, statistics, actuarial science, quantitative finance, or a related field; an advanced degree is a plus
- FSA or near-FSA designation with 7+ years of actuarial experience in life and annuity (re)insurance; individual annuity pricing experience is a plus
- Strong understanding of annuity products, especially MYGA and FIA (GLWB) structures, accounting frameworks, associated risks, investment strategies, and product management practices
- Demonstrated ability to solve complex and ambiguous problems independently and collaboratively using analytical and critical thinking skills
- Effective communicator with the ability to present pricing analyses and recommendations to both technical and non-technical stakeholders, including senior leadership
- Adaptable and organized, with the ability to manage multiple initiatives and meet concurrent deadlines in a dynamic environment
- Proficiency in MG ALFA and Python preferred; familiarity with other actuarial modeling tools is a plus
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