Corporate Vice President, Actuary - Long Term Care
Posted on Jan 26, 2019 by New York Life Insurance Company
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LTC Valuation, Financial Reporting, Analysis and Planning
- Set the strategic vision for Valuation, Financial Reporting, Analysis and Planning. A critical part of this vision is to develop highly transparent and actionable financial reporting and analysis under a First Principles approach and FASB Targeted Improvements. Present the vision to the senior management of NYL and get their buy in. Develop and implement the strategic vision.
- Initiate, organize, and direct all valuation, financial reporting and analysis activities. Develop all appropriate reports, analysis and controls for these processes. Support the vision of highly transparent and actionable financial reporting and analysis by developing new reports and analytics. Partner with the administrators to get a deep understanding of how administration activities influence financial results. Enhance the management dashboards to provide more actionable information.
- Perform all valuation, financial reporting and analysis activities including the following:
- Monthly GAAP Policy and Claim Reserve valuation, monitoring of experience vs plan, dashboard reports monitoring administration processes and their impacts on financial results
- Quarterly GAAP, Statutory and Tax valuations, financial reporting and analysis, monitoring of experience vs plan, Source of Earnings analysis, business reviews with senior management
- All actuarial activities related to the production of the annual statement
- All actuarial activities relating to the development of the annual business plan
- All control activities relating to the valuation, financial reporting and analysis
- Lead LTC financial reporting projects. This may include the effort to develop highly transparent and actionable financial reporting and analysis under a First Principles approach and FASB Targeted Improvements. These are multi year projects which spans actuarial, model development, financial reporting processes and audit.
- Partner with the NYL Prophet Team and manage the enhancement of valuation and projection systems.
- Assist in quantifying impact of proposed changes and communicate results to a diverse audience of senior management, actuaries, investment professionals and general staff. The incumbent must identify and communicate key issues and important trends and support the analysis in Q&A sessions.
- Manage employees supporting these activities.
This role requires collaboration with other departments including:
- Office of the Chief Actuary
- Controller's Department
- NYL Prophet Team
- BA/BS is required
- Completion of specific and general continuing education requirements
- An FSA designation in the Society of Actuaries is essential. Candidate must be a member of the American Academy of Actuaries
- This position requires at least 8 years of previous actuarial experience. Experience with Long-Term Care is highly preferred
- Candidate must:
- Possess strong individual accountability
- Possess strong leadership skills, judgment, organizational and prioritization skills
- Possess strong management skills to motivate and develop staff
- Possess strong technical and analytical skills
- Be a good self starter and innovator and a catalyst for change
- Possess high quality of work ethics while remaining committed to corporate values
- Have strong oral and written communication skills and the ability to influence management and staff
- Have ability to evaluate information and have strong analytical ability
- Be able to assimilate a large amount of information and analysis and identify those key facts or trends which may have a material impact on the business
- Possess ability to manage projects effectively
- Be proficient in Microsoft Word and Excel and various database platforms and modeling software
- Responsible for many critical financial reports for the Long-Term Care Division. Information produced in this unit is vital in LTC Executive decision-making
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Corporate Vice President, Actuary - Long Term Care