Product Actuarial Director, Product Manager Life and Specialty Products

Job Description
• Direct the Product & Risk Management Professional Services Group and to fulfill the actuarial responsibilities of: product design, development and pricing, product maintenance, experience monitoring and analysis, product risk management, state rate filings and approvals and compliance with regulations pertaining to actuarial issues for all products direct and assumed for American Public Life

Responsible for recruiting and hiring decisions, compensation, student programs, and department policies.
• Provide strategic direction and business plans for all product lines for APL. Accountable for profitable growth, working collaboratively with senior leaders to identify and address product needs and advise on courses of action for product lines. Serve as Illustration Actuary for AFA life products as needed.
• Perform Risk management for APL and advise President and Board on financial and risk issues. Identify vulnerabilities and implement the corrective action needed in partnership with senior leadership, including areas of field compensation and incentives programs, underwriting and risk tolerance, large case management, product mix and profitability, and target markets. Directly responsible for budgeting (earned premium, incurred claims, commissions, technology fees, TPA fees, and marketing fees), loss ratio management across entire portfolio, establishment and enforcement of underwriting rules, rate management and group rating, and guidance for underwriting practices for all product lines. Direct the underwriting team on the proper risk review of in force and newly acquired groups. Interact with Sales Leadership and key producers to understand their business model and develop appropriate solutions to meet their needs effectively. work with senior leadership team members to evaluate and price new business opportunities.

Skills of the Ideal Candidate:
• 20 or more years of prior life and health actuarial expertise, at least 15 of which should be in pricing and product development or related areas
• At least ten years of supervisory experience
• Experience in product risk management, profitability and growth analysis, pricing, product development, experience analysis and product maintenance
• Strong oral and written communication skills including outstanding interpersonal and consultative skills
• Demonstration of a high level of administrative competence and excellence in analyzing organization procedures and maximum efficiency
• Understanding of APL niche markets, marketplace needs and distribution methods
• Ability to communicate extremely technical concepts and work in terms that a non-technical person can basically understand
• Meet the educational and experience requirements to sign actuarial memorandums for all supplemental worksite products.
• Comprehensive knowledge of product development, pricing and maintenance, with the ability to analyze profit projections and make decisions/recommendations based upon the analysis
• General knowledge and understanding of reserving and unit value methodologies
• Understanding of APL’s internal operation and administration systems
• Understanding of product-related regulations, compliance, legal, advertising, taxation and market conduct issues
• Experienced with actuarial pricing and projection systems
• Understanding of reinsurance methods and their impact on profitability and risk management
• Thorough understanding of the risks underlying each product and methods of risk management
• Ability to think outside the box and find solutions outside of tradition
• Strong teamwork, leadership and supervisory skills
• Excellent decision-making skills
• Ability to conceptualize, generalize and see the big picture
• Planning and resource allocation skills
• Extremely strong analytical and problem-solving skills
• Ability to balance the desire for accuracy with the cost/benefit of resources and financial impact
• Ability to work in a fluid, fast-paced work environment
• Strong ability to think-on-your-feet, taking into account all pertinent information and quickly deriving responses to the situation

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