An Actuary calculates the financial costs of risk and uncertainty. Uses findings from statistical analysis and mathematical modeling to help businesses and clients minimize the cost of risk and develop business and investment strategies. Uses actuarial analysis of the probability and cost of natural disasters or accidents to develop insurance policies.
Job Description Help for Job Description. Opens a new window. Job DescriptionJob Description
JOB TITLE
Chief Actuary
EMPLOYER
A-CAP Services
LLC DEPARTMENT
Actuarial
REPORTS TO
Chief Financial Officer
LOCATION
Onsite in Miami (Brickell)
ABOUT THE COMPANY A-CAP
is a leading provider of capital and third-party asset management solutions. Through our synergistic platform of insurance carriers, reinsurers, and asset management businesses, A-CAP delivers tailored capital solutions to individuals, insurance companies, and small- to medium-sized businesses. Backed by a leadership team and operational experts with deep expertise across insurance, reinsurance, and asset management sectors, A-CAP is committed to delivering meaningful results and adding value to our clients and capital partners. This commitment is demonstrated through the industry-leading risk-adjusted returns we achieve, and the innovative capital solutions we provide to meet the needs of a diverse range of partners.
A-CAP's Core Business Includes:
Capital SolutionsCommercial Real EstateThird-party Asset ManagementPrivate CreditPrimary Insurance CarriersAccredited Reinsurers
ABOUT THE ROLE A-CAP
has an immediate opening for a self-motivated, detail oriented, and well-organized candidate to join the team as Chief Actuary. The Chief Actuary is an executive role crucial for overseeing all actuarial functions of the company. This role demands a proactive approach in managing and evaluating actuarial strategies, ensuring financial integrity, and positioning ACL's insurance products competitively in the market. The Chief Actuary will report directly to the CFO and will interact regularly with group executives, team members from other departments, as well as third-party stakeholders. While the Chief Actuary will serve in a senior management role, the right candidate will be willing and able to go "hands-on" to create and support technical processes when necessary.
WHAT YOU WILL
DOStrategic Leadership and Innovation:
Lead the strategic direction of all actuarial functions, aligning with corporate goals for product innovation, market leadership and financial strength.
Pricing & Product Development:
Manage the modeling and pricing for all new annuity and life products as well as enhancements to existing products. Manage the modeling of new proposed reinsurance transactions.
Liability and Reserve Management:
Manage and report on insurance policy liabilities (Stat & GAAP) and ensure adequacy of reserves to meet future obligations.
Financial Projections & Planning:
Manage financial projection process for all insurance products (projections are used to develop the group's 3-year financial plan). Develop process to run projections on a more frequent regular basis and produce actual-to-expected analyses.
Assumption Governance & Experience Studies:
Develop process for regular re-evaluation and analysis of key actuarial assumptions. Develop governance process for recording existing assumptions and properly documenting future changes to assumptions.
Vendor and Consultant Management:
Develop a strategic framework for determining which actuarial functions to build internally versus outsource and establish governance processes to ensure quality, accountability, and cost-effectiveness of all external engagements. Partnership with
Appointed Actuary:
Interact with the ACL's external appointed actuary, ensuring a productive and well coordinated relationship that supports the timely completion of all required actuarial opinions, reserve certifications and regulatory filings.
Regulatory and Rating Agency Compliance:
Serve as the company's primary actuarial liaison with state insurance regulators, the NAIC and rating agencies. Oversee the preparation and filing of all required actuarial materials including; RBC calculations an asset adequacy analyses. Support regulatory examinations and respond to actuarial inquires from rating agencies and departments of insurance.
Communication:
Keep all other departments apprised of developments within the actuarial function. Communicate complex actuarial concepts to non-actuarial stakeholders. Create cross-functional harmony with finance, technology, administrative, and other teams.
WHAT YOU WILL
NEEDAnnuity Product Knowledge:
Experience with
MYGA, FIA, GIA
type products and familiarity with indexed hedging strategies.
Education:
Bachelor's degree or higher in Actuarial Science, Mathematics, Finance, or related field.
Certification:
MAAA and FSA (or career ASA) designations.
Experience:
At least 10 years in the actuarial field, including 5 years in leadership roles within financial or actuarial departments.
Skills:
Proficiency in actuarial software, excellent analytical capabilities, and the ability to effectively communicate complex concepts.
WHO WE ARE
www.acap.com
BENEFITS
A-CAP works hard to create a positive and supportive environment. That's why we offer great benefits to safeguard the health and well-being of our employees.
Our comprehensive benefits package includes:
Competitive compensation programsEmployer-sponsored medical, dental, and vision insurancePaid Life & AD&D Insurance (for employees and families)Paid Disability Insurance (STD + LTD)Paid Parental LeavePaid Vacation and Sick LeavePaid HolidaysVoluntary Supplemental InsuranceSafe Harbor 401(k) plan with employer matchAnd other benefits and perks!
POSITION TYPE AND EXPECTED HOURS OF WORK
This is a full-time position. Days and hours of work are Monday through Friday, 9:00 a.m. to 6:00 p.m., 40 hours weekly, or as otherwise arranged with the manager of the department. US Work Authorization Is Required Applicants must be authorized to work for ANY employer in the U.S. We are unable to sponsor or take over sponsorship of an employment visa at this time. EEO Statement A-CAP is an Equal Opportunity Employer and does not discriminate in recruiting, hiring, promotion or any other personnel action based on the basis of race, ethnicity, national origin, color, sex, gender, gender identity or expression, sexual orientation, religion, age, disability, veteran status, or any other basis covered by appropriate law. We comply with the laws and regulations set forth in the Know Your Rights poster. All employment is decided on the basis of qualifications, merit, and business need. To request an accommodation, contact hr@acap.com and we will make every effort to respond to your request within 48 business hours to work towards a positive solution. Disclaimer The above is intended to describe the general content of and requirements for the performance of this job. It should not be construed as an exhaustive statement of duties, responsibilities, or physical requirements. Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Powered by JazzHR cNtrekH0Mi