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Job Description
As an Actuarial Consultant/Senior Consultant , you will be involved in all the following aspects of the role, with the proportion of time spent on each dependent upon the nature of particular projects and the mix of people in the project team. The main role will be to provide chargeable actuarial consulting services by means of developing and delivering solutions through consulting project to clients using the iWorks Prophet system.
Responsibilities
• Implement and support of Prophet Actuarial models, for Traditional, Interest Sensitive and Variable products to meet client specifications on the iWorks Prophet actuarial system.
• Accountable for ensuring client needs are met in regards to reporting, analysis, solution presentation, completion of proposals, delivery schedules and product specifications. Work with integrated client project teams to deliver Prophet Models, as well as integrated data, process and services solutions.
• contribute and assist in the establishment of a Prophet actuarial practice the Americas. Provide management and guidance to less senior actuaries on the team.
• Provide actuarial and business input to RFP’s, client proposals, reports, as appropriate
• Participate in Society of Actuary events, attend meetings, and stay current on life and annuity U.S. financial reporting changes
Position Requirements:
Skills:
• The successful candidate will have a background in life insurance, and a general knowledge of the insurance industry’s regulatory and reporting frameworks, including an awareness of at least two of the following:
• Risk Based Capital (RBC)
• Own Risk and Solvency Assessment (ORSA)
• European Embedded Values (EEV) and Market Consistent Embedded Values (MCEV)
• International Financial Reporting Standards (IFRS)
• U.S. Statutory Reporting
• U.S. GAAP Reporting
The ideal candidate should be a qualified actuary and have used the Prophet System (or equivalent actuarial modeling system) for a minimum of 5 years and will have been involved in key business projects using Prophet. They will possess a strong working knowledge of the various Prophet components and in depth knowledge of at least one of our Prophet libraries: North American, Asset and Global Strategy libraries, Life DFA library or Asset Liability Strategy library.
Experience in, and knowledge of, the business implications and impact on Prophet modeling of the following: Cash Flow Testing; Product Design & Pricing; Revenue and Earnings Projections; And at least three of the following: Valuation methods, including Statutory, GAAP, embedded values and realistic valuations; Asset / Liability Modeling; Stochastic Modeling; Financial Economics and Derivatives; Analysis of Change
Experience working in a life insurance actuarial department or consultancy
Strong verbal and written English language skills, and strong attention to detail are essential
There may be a requirement to work at clients’ offices as and when necessary so possible travel of 30-50% is a required aspect of this role
Desirable Skills:
Familiar with Prophet Asset and Global libraries. You will also have implemented at least three from:
(1) New business processing,
(2) Calculation looping,
(3) Rebasing,
(4) Goal seeking,
(5) Data grouping,
(6) Dynamic model point method,
(7) in-memory dynamic processing,
(8) Extended formulas and
(9) Stochastic modeling
SunGard provides solutions for the insurance industry in each of the following major business lines: life and health, annuities and pensions, property and casualty, reinsurance and asset management. SunGard’s software and services support functions from the front-office through the back-office, from customer service, policy administration and actuarial calculations to financial and investment accounting and reporting.
Key Skill(s)
About Company
SunGard is one of the world's leading software and technology services companies. SunGard has more than 17,000 employees and serves approximately 25,000 customers in more than 70 countries. SunGard provides software and processing solutions for financial services, education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue of about $4.5 billion, SunGard is the largest privately held software and services company and was ranked 434 on the Fortune 500 list in 2011. Look for us wherever the mission is critical. For more information, please visit www.sungard.com
SunGard Global Solution Centers
Located in China, India and Tunisia, the global solution centers combine technological expertise, innovation and diversity to offer SunGard's customers end-to-end, specialized domain-centric software solutions across verticals. The solution centers augment SunGard's worldwide product development and services teams by leveraging the global delivery model. A significant part of the activities at the solution centers includes providing critical development and infrastructure support to SunGard's businesses across the globe.
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Actuarial Consultant/Senior Consultant for SunGard iWorks
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