Lead Life Actuary
Location: Lincoln, RI, United States
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Description
Lead Life Actuary
Amica Life Department
10 Center Blvd. Lincoln, RI 02865
10 Center Blvd. Lincoln, RI 02865
Thank you for considering Amica as part of your career journey, where your future is our business.
At Amica, we strive to build a culture of belonging where employees are encouraged to share their unique experience to enrich our workplace, strengthen our company’s mission and broaden our vision of what’s possible. We’re focused on creating a workplace that works for all. We’ll continue to provide training, guidance, and resources to make Amica a true place of belonging for all employees. Want to learn more about our commitment to diversity, equity, and inclusion? Visit our DEI page to read about it!
As a mutual company, our people are our priority. We seek differences of opinion, life experience and perspective to represent the diversity of our policyholders and achieve the best possible outcomes. Our office located in Lincoln, RI is seeking a Life Actuarial Officer to join the team!
Job Overview:
As part of our team, you will be responsible for all modeling activities within the Amica Life Company, including Cash Flow Testing, C3-Phase 1 Testing, Asset Liability Management, Plan Forecasts, and setting monthly credit rates. Additionally, this role leads and supports various initiatives, such as ensuring compliance with new regulatory changes, driving process improvement and governance.
The Lead Life Actuary have the potential to grow within the organization and take on additional responsibilities, with opportunities to expand the leadership scope. The Lead Life Actuary will be expected to mentor junior actuaries, contribute to high-level decision-making, and play a key role in shaping the long-term direction of actuarial practices and strategies within the Life Company.
The Lead Life Actuary have the potential to grow within the organization and take on additional responsibilities, with opportunities to expand the leadership scope. The Lead Life Actuary will be expected to mentor junior actuaries, contribute to high-level decision-making, and play a key role in shaping the long-term direction of actuarial practices and strategies within the Life Company.
Responsibilities:
- Maintain, refine, and prepare models for asset adequacy testing, C3P1 testing, financial planning, and assumption unlocking
- Implement new products, model refinements, and other modeling needs, ensuring alignment with Amica’s governance framework
- Support the maintenance and refinement of a modern Life ALM reporting framework that fits the needs of all stakeholders
- Support the team by performing analysis such as valuation/reserving, model development, research support, and business planning
- Provide technical assistance and information to other departments as needed
- Lead and oversee projects to ensure timely and successful execution
The 37.5-hour work week is scheduled from Monday through Friday, between the core hours of 8:00 AM and 5:00 PM.
A hybrid schedule will be available once trained to work independently, with three days reporting to our Lincoln, RI office and two days working from home.
A hybrid schedule will be available once trained to work independently, with three days reporting to our Lincoln, RI office and two days working from home.
This role does not currently offer employment visa sponsorship.
Total Rewards:
- Medical, dental, vision coverage, short- and long-term disability, and life insurance
- Paid Vacation – you will receive at least 13 vacation days in the first 12 months, amounts could be greater depending on the role. While able to use prior to accrual, vacation time will accrue monthly
- Holidays - 14 paid holidays observed
- Sick time - 6 days sick time at hire, 6 additional days sick time at 90 days of employment
- Generous 401k with company match and immediate vesting. Additionally, annual 3% non-elective employer contribution
- Annual Success Sharing Plan - Paid to eligible employees if company meets or exceeds combined ratio, growth and/or service goals
- Generous leave programs, including paid parental bonding leave
- Student Loan Repayment and Tuition Reimbursement programs
- Generous fitness and wellness reimbursement
- Employee community involvement
- Strong relationships, lifelong friendships
- Opportunities for advancement in a successful and growing company
Qualifications:
- Bachelor’s degree
- FSA or career ASA with suitable experience
- 5+ Years of life insurance experience
- Advanced knowledge of Prophet; ALS knowledge is a plus
- Proficient in life product modeling, particularly in term, whole life, and fixed annuity products
- Familiar with Statutory reporting, Reserve Adequacy testing, and ability to keep current with industry standards and best practices
- Knowledge of ALM principles and practices is a plus
- Self-motivated with the ability to meet tight deadlines in a dynamic, and fast paced environment
- Strong analytical, quantitative and problem-solving skills, with the ability to be an innovative thinker, understand the "big picture", and pay close attention to details
- Ability to communicate clearly and concisely with both technical and non-technical team member
Amica conducts background checks which includes a review of criminal, educational, employment and social media histories, and if the role involves use of a company vehicle, a motor vehicle or driving history report. The background check will not be initiated until after a conditional offer of employment is made and the candidate accepts the offer. Qualified applicants with arrest or conviction records will be considered for employment.
The safety and security of our employees and our customers is a top priority. Employees may have access to employees’ and customers’ personal and financial information in order to perform their job duties. Candidates with a criminal history that imposes a direct or indirect threat to our employees’ or customers’ physical, mental or financial well-being may result in the withdrawal of the conditional offer of employment.
The safety and security of our employees and our customers is a top priority. Employees may have access to employees’ and customers’ personal and financial information in order to perform their job duties. Candidates with a criminal history that imposes a direct or indirect threat to our employees’ or customers’ physical, mental or financial well-being may result in the withdrawal of the conditional offer of employment.
About Amica:
Amica Mutual Insurance Company is America’s oldest mutual insurer of automobiles. A direct national writer, Amica also offers home, marine and umbrella insurance. Amica Life Insurance Company, a wholly owned subsidiary, provides life insurance and retirement solutions. Amica was founded on the principles of creating peace of mind and building enduring relationships for and with our exceptionally loyal policyholders, a mission that thousands of employees in offices nationwide share and support.
Equal Opportunity Policy: All qualified applicants authorized to work in the United States will receive consideration for employment without regard to race, color, religion, sex, gender, gender identity, gender expression, sexual orientation, family status, ethnicity, age, national origin, ancestry, physical and/or mental disability, mental condition, military status, genetic information or any other class protected by law. The Age Discrimination in Employment Act prohibits discrimination on the basis of age with respect to individuals who are 40 years of age or older. Employees are subject to the provisions of the Workers' Compensation Act.
Amica Mutual Insurance Company is America’s oldest mutual insurer of automobiles. A direct national writer, Amica also offers home, marine and umbrella insurance. Amica Life Insurance Company, a wholly owned subsidiary, provides life insurance and retirement solutions. Amica was founded on the principles of creating peace of mind and building enduring relationships for and with our exceptionally loyal policyholders, a mission that thousands of employees in offices nationwide share and support.
Equal Opportunity Policy: All qualified applicants authorized to work in the United States will receive consideration for employment without regard to race, color, religion, sex, gender, gender identity, gender expression, sexual orientation, family status, ethnicity, age, national origin, ancestry, physical and/or mental disability, mental condition, military status, genetic information or any other class protected by law. The Age Discrimination in Employment Act prohibits discrimination on the basis of age with respect to individuals who are 40 years of age or older. Employees are subject to the provisions of the Workers' Compensation Act.
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