AVP, Valuation Actuary
Location: Des Moines, IA
Name: Kris Benge
This is an advanced level position responsible for the management of the Valuation team within the Actuarial Department. In addition, this position would coordinate audit activity and support the close process for SEC, Statutory, and Tax reporting.
This position reports to the VP, Financial Reporting Actuary and will interact with all levels of senior management, including significant ongoing exposure with the CFO and VP of FP&A, as well as, interaction with other officers. The position will act as designate to VP Financial Reporting Actuary in their absence.
In addition to direct responsibilities for reserving and valuation activities, this position will have active involvement with Financial Planning & Analysis and Product Pricing functions and personnel. This position will manage 3 to 5 individuals and will be responsible for their selection, training and development in conjunction with the Actuarial Department management, human resources and the Chief Actuary’s overall training and staff development plan for all actuaries.
Duties and Responsibilities
Will have primary responsible for developing reserves and related analysis used in reporting financial results including:
Additionally, other activities will include:
Collaboration with Appointed Actuary on:
Collaboration with VP, Financial Reporting Actuary on:
Collaboration with FP&A and Controller on:
Ad hoc activities as requested by executive management.
Accurate and timely preparation of all work is a high priority for this position as key management decisions are made based on the work performed under the auspices of this position.
Responsible for ensuring adequate account analysis, balancing and documentation of reserves. This involves, as required, balancing and validation of all sub system information feeds, as well as various worksheets, or subsidiary records utilized.
Oversight of the research on applicable new accounting/actuarial pronouncements, and determination of their impact on the company.
Responsible for Sarbanes Oxley (Section 404) requirements for financial controls oversight and reporting within Actuarial Financial Reporting where associated with reserves.
Support annual business planning process including sensitivities, analysis and narrative requirements.
Responsible for rating agency review, and internal and external audit coordination with respect to actuarial financial reporting department activities in conjunction with other financial management team members.
Review of operational procedures and identification of areas of improvement and efficiencies.
Ensure all externally originated data, processes, interfaces, etc. are effectively coordinated, controlled, balanced and reconciled. Identify process improvements to make the third party outsourcer financial oversight more efficient.
Oversight in coordination with the financial systems team within the Finance Department to maximize Oracle functionality along with other financial system reporting and accounting functionality and capabilities; ensuring that all data has been captured and complete with all data anomalies addressed.
Support other financial and actuarial resource needs of the Company, assessing priorities and drawing upon resources to meet deadlines with accurate analysis and conclusions.
Provide all actuarial analysis support needed for BCAR and RBC calculations.
Actively seek methods for continuous improvement with actuarial, accounting and recordkeeping functions through process or systems initiatives.
Experience and Education Requirements
Skills and Abilities