Chief Actuary

Royal Neighbors of America • Rock Island, IL

9d • Hybrid

About The Position

The Chief Actuary serves as a senior strategic leader responsible for shaping the Society’s long-term financial direction through the application of rigorous actuarial principles, deep product and industry knowledge, and sound risk management. This role combines executive-level strategic leadership with hands-on execution appropriate for a smaller, leaner organization.

Requirements

• Bachelor’s degree (BA or BS) in actuarial science, math, or related field from four-year college or university required.
• Ten or more years of related experience and/or training; or equivalent combination of education and experience.
• Fellow, Society of Actuaries (FSA), with sufficient experience, education, and continuing education requirements fulfilled to sign NAIC Life, Accident & Health, and Fraternal Annual Statement
• Member of Academy of Actuaries (MAAA) or eligibility for membership required.
• Successful completion of the Life Office Management Association (LOMA) certifications and designations: Associate, Insurance Regulatory Compliance (AIRC) and Fellow, Life Management Institute (FLMI), required

Nice To Haves

• Customer Experience Essentials Certificate and Associate, Customer Service (ACS), preferred.

Responsibilities

• Serve as a key strategic advisor to the CFO and Executive Leadership Team on product strategy, capital management, risk appetite, and long-term financial planning.
• Foster strong working relationships across Underwriting, Operations, Sales, Investments, and IT to align financial strategy with real-world business performance.
• Set the actuarial technology and data strategy. Identify and implement technology solutions that streamline workflows, enhance analytics and decision-making, and strengthen controls.
• Supervise the Society’s Appointed Actuary, overseeing certificate reserve and additional liability valuation, cash flow testing, and evaluate the adequacy of the Society’s assets backing reserves to meet future obligations.
• Serve as the Society’s Illustration Actuary, overseeing compliance aspects of customer illustrations, determining and implementing non-guaranteed elements, and all related testing and filing.
• Serve as a member of the Society’s Enterprise Risk Committee.
• Chair the Reinsurance Committee, overseeing treaty design, administrative setup, billing, relationship management, etc.
• Product development, pricing, rate and form filings, and implementation of all life insurance and annuity products.
• Short- and long-term financial projections, as well as provide updated year-to-date forecasts on a regular basis.
• Dividend recommendations made to the Board of Directors and implementation of dividend scales approved by the Board.
• Oversee administration of reinsurance agreements and policy administration system configuration and maintenance.
• Oversee product code configuration in the policy administration system.
• Financial statement reporting (exhibits, supplements, notes, interrogatories, etc.) related to reserves and other liabilities, reinsurance, inforce statistics, risk-based capital, etc.
• Serve as connection to Investments area and help link asset allocation, portfolio and new money rate assumption setting, and asset modeling to investment strategies.
• Oversee all experience studies, accountable for all actuarial assumptions.
• Lead and develop the actuarial department and related functions, set budgets, maintain and administer the actuarial student program, ensuring continuing education requirements are met by staff, etc.
• Regular reporting to the Society’s Board of Directors.
• Manages the Actuarial team, which may include managing subordinate supervisors in addition to other staff.
• Is responsible and accountable for the overall direction, coordination, evaluation, and work product within the Actuarial team.
• Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include interviewing, hiring, and mentoring & training employees; planning, assigning, and directing work; assessing work product quality; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.

Benefits

• We offer a comprehensive package of benefits including paid time off, health and dental insurance, and 401(k) to eligible employees. You can find more about our benefits at: https://flimp.live/RNAbenefitshowcase
• this position is incentive eligible with a target based on company performance, and/or individual results achieved; the specific incentive plan and target amount will be determined on the role.

What This Job Offers

• Job Type: Full-time
• Career Level: Executive