Assoc Actuary

Business Unit: USFSJob Family: ActuarialDepartment Name: Defined Contribution Pricing & Financial MgmtNo. of Openings: 1Full-Time or Part-Time: Full-TimeRelocation Assistance Offered? YesSalary: 'Salary Commensurate with Experience'Percent of Travel Required: 0 - 10%What is ING?
ING Insurance Americas is a vital part of worldwide ING Group, one of the largest diversified financial services organizations in the world with operations in more that 50 countries and 112,000 employees. We're a leading provider of financial products and services for individuals and businesses, including life insurance, annuities, mutual funds, retirement plans and employee benefits. ING recognizes the critical role our employees play in our success as a company...we understand the link between customer satisfaction and employee satisfaction. As a result, we're building a different work experience for our employees, an experience that appeals to what they value most in a work relationship.What are the job responsibilities?
Pricing Manager
Responsible for overall pricing process including but not limited to pricing workflow, pricing accuracy, communication of results, pricing documentation, etc.
Determination of appropriate pricing assumptions and underwriting requirements for new and existing business.
Responsible for development and accuracy of pricing models
Evaluation of profitability and risk of new and existing products and product features.
Features ranging from traditional fixed and variable annuities through the latest living benefit and death benefit features packaged within variable annuities.
Creation and evaluation of pricing methodologies for new and existing business.
Development and maintenance of pricing exception process.
Education market pricing liaison for all product development initiatives.
Review of all large case pricing and special exceptions.
Communication to senior management of individual case pricings and market level pricing initiatives.
Manage communications and financial training of the Education Market product area.Financial Management
Development of PARP (Product Approval and Review Process) for new and existing products.
Responsible for development and sign-off of Medium Term Plan assumptions.
Responsible for development and sign-off of Value of New Business assumptions.
Understanding and mastery of new pricing metrics and how these metrics impact pricing decisions.
Understanding of product initiatives and their impact on Plan and communication of these results to Product management and Actuarial management.
Recommendations on initiatives to improve profitability on new and existing business.
Evaluate experience studies and recommend changes if warranted.Technical Support
Preparation of Actuarial exhibits for state filings. (MAAA Required)
Assist others within the Actuarial Department and other functional areas by developing programs and using actuarial or analytical skills to address business needs such as assisting Product Manager in responding to agent/client inquiries, preparing actuarial demonstrations for submissions to regulators and responding to regulator questions.People Management
Supervise and provide training and career advice to a staff of 3-5 employees consisting of actuarial students and non-students.Special Projects
Responsive to ad hoc special project requests; participate in projects related to product management, product development/implementation.
Coordinates, prepares and performs actuarial analyses to be used in actuarial recommendations and reporting for special projects.(B) Job Knowledge and SkillsActuarial and business knowledge of insurance products, pricing (annuity experience preferred) and risk management experience
Oral and written communication skills
Analytical skills in modeling fixed and variable annuity guarantees.
Spreadsheet/Programming skills(C) Qualifications/Education/Work Experience6-10 years of diverse actuarial and business experience; at least 3-5 years of annuity pricing and product development experienceWhat else can we tell you?
CompetenciesCustomer Focus - Is dedicated to meeting the expectations and requirements of internal and external customers.
Functional/Technical Skills - Has the functional, technical knowledge and skills to do the job at a higher level of accomplishment.
Problem Solving - Uses rigorous logic and methods to solve difficult problems with effective solutions; probes all fruitful sources for answers, can surface hidden problems; is excellent at honest analysis, looks beyond the obvious and doesn't stop at the first answers.
Listening - Practices attentive and active listening; has the patience to hear people out; can accurately restate the opinions of others even when he/she disagrees.
Informing - Provides the information people need to know to do their jobs and feel good about being a member of the team, unit, and/or organization; provides individuals information so that they can make accurate decisions; is timely with information.
Time Management - Uses his/her time effectively and efficiently; values time; concentrates his/her efforts on the more important priorities; can attend to a broader range of activities.
Priority Setting - Spends his/her time and the time of others on what's important; quickly zeros in on the critical few and puts the trivial many aside; can quickly sense what will help or hinder accomplishing a goal; eliminates roadblocks; creates focus.
Communication - Communicates and negotiates with senior management, advising them as to actuarial implications of positions on business issues; demonstrates critical thinking and expresses ideas clearly, concisely and logically; is able to write clearly and succinctly; can get messages across that have the desired effect.
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REQUIREMENTS
Who is our ideal candidate?
Job Knowledge and SkillsActuarial and business knowledge of insurance products, pricing (annuity experience preferred) and risk management experience
Oral and written communication skills
Analytical skills in modeling fixed and variable annuity guarantees.
Spreadsheet/Programming skills(C) Qualifications/Education/Work Experience6-10 years of diverse actuarial and business experience; at least 3-5 years of annuity pricing and product development experience
FSA is required
Bachelor's or higher degree in Mathematics, Statistics, Actuarial Science or related field.This position is responsible for the overall pricing and risk management of the Education Market product line of business.