Associate Director & Actuary

Corebridge Financial • Houston, TX

23h • Hybrid

About The Position

We currently seek an Associate Director and Actuary to support the Corebridge Insurance Company of Bermuda (CICB) Chief Actuary. This position will report directly to the CICB Chief Actuary and will work closely with the CICB cross-functional team and CICB management team, providing actuarial and finance support. CICB is an important part of Corebridge’s strategic objectives, providing opportunities for enhanced returns. As such, CICB has experienced significant growth in the past few years that is expected to continue. It currently consists of life insurance and individual fixed deferred and indexed annuity business and CRBG plans to explore reinsurance arrangements with other products as well. As CICB grows, the role will be involved in enhancing and maturing the CICB infrastructure, including modeling, financial reporting, and governance and controls. This position is an exciting opportunity to grow with the company.

Requirements

• 5 + years of progressively more responsible actuarial experience
• Cross-functional experience desired (modeling, valuation, experience studies, ALM)
• Demonstrated success working in cross-functional collaborative teams
• Strong problem solving and analytical skills, including using Excel and other tools
• Highly motivated and results-oriented
• Ability to work independently and manage multiple priorities simultaneously
• Strong oral and written communication skills
• Goal oriented and well-organized, with the ability to develop and manage disciplined processes
• Willingness to learn, collaborate and deliver outstanding service while balancing multiple priorities.
• The candidate must have excellent communication skills and the ability to interact with both business partners and business unit actuaries effectively.

Nice To Haves

• Preferred to have a Fellow of the Society of Actuaries (FSA) or similar designation. However, not required.
• Ideal candidate will have a background in life insurance, annuities, reinsurance, and Bermuda regulations. Not required.
• The ideal candidate will have modeling experience, an understanding of the key profit drivers for a variety of products, along with knowledge of the US GAAP, statutory, and Bermuda valuation frameworks. Not required.

Responsibilities

• A primary responsibility of this role is to support and eventually lead CICB’s quarterly forecasting and new product reinsurance pricing through deal model analysis.
• In addition, the role will support the valuation of CICB’s business by reviewing and understanding model results under the Bermuda Monetary Authority’s (BMA’s) Scenario Based Approach (SBA) framework, as well as preparing financial analytics.
• Knowledge of the BMA’s SBA and other BMA regulations will be ideal.
• The role will work closely with the CICB Chief Actuary and CICB Model Owners to prepare analysis and clearly communicate financial risks and impacts with CICB management.
• Budgeting / Forecasting – Translate earnings understanding into meaningful Statutory Financial Statements (SFS) and Economic Balance Sheet (EBS) budgets and forecasts. Currently using existing tools and later working with the modernization team to develop enhanced tools and processes
• New Product Reinsurance Pricing – Provide analysis of new products under the BMA framework vs. the US framework using deal models and appropriate assumptions
• Best Estimate Liability (BEL) Analysis - Support high quality and value-added analysis of CICB’s Best Estimate Liability and Risk Margin, including attribution and explanation of periodic changes and sensitivities through “sandbox” model runs for CICB’s SBA models
• Support analysis of CICB’s SFS and EBS – develop understanding and communicate earnings drivers for CICB lines of business, including Source of Earnings analysis, strain analysis, and pricing vs. actuals.

Benefits

• Health and Wellness: We offer a range of medical, dental and vision insurance plans, as well as mental health support and wellness initiatives to promote overall well-being.
• Retirement Savings: We offer retirement benefits options, which vary by location. In the U.S., our competitive 401(k) Plan offers a generous dollar-for-dollar Company matching contribution of up to 6% of eligible pay and a Company contribution equal to 3% of eligible pay (subject to annual IRS limits and Plan terms). These Company contributions vest immediately.
• Employee Assistance Program: Confidential counseling services and resources are available to all employees.
• Matching charitable donations: Corebridge matches donations to tax-exempt organizations 1:1, up to $5,000.
• Volunteer Time Off: Employees may use up to 16 volunteer hours annually to support activities that enhance and serve communities where employees live and work.
• Paid Time Off: Eligible employees start off with at least 24 Paid Time Off (PTO) days so they can take time off for themselves and their families when they need it.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed