Actuary

GAAP Actuarial Valuation and Financial Reporting Specialist

This position's primary responsibility is to support the GAAP Actuarial Valuation and Financial Reporting procedures for Fidelity & Guaranty Life. This position will serve as the subject matter expert for GAAP valuation processes of designated lines of business, including the establishment of reserves and the calculation and reporting of actuarial intangible balances such as VOBA, DAC, DSI, and Cost of Reinsurance.

Duties & Responsibilities:

• Establish GAAP reserves, intangible balances, and related financial reporting outputs for designated annuity and life insurance products of Fidelity & Guaranty Life.
• Ensure that all product lines comply with applicable federal, state, and GAAP accounting regulations.
• Perform valuation processes in a highly controlled environment; maintain, enhance, and review the various quarterly controls.
• Review and analyze quarterly reserve and intangible balance movements to be provided to management and Finance personnel.
• Lead a small team of actuarial staff members.
• Manage staff of actuaries and/or actuarial technicians.
• Oversee monthly and quarterly production of GAAP reserves and intangible balances, including VOBA, DAC, DSI, and Cost of Reinsurance, for designated lines of business.
• Prepare, review, and analyze reserve and intangible balance movements.
• Maintain, enhance, and timely execute valuation and intangibles controls.
• Maintain valuation programs for new products, new regulations, and assumption updates.
• Stay abreast of new GAAP regulations, accounting standards, and emerging actuarial requirements.
• Support internal and external audits by providing technical documentation and explanations of reserve and intangible methodologies.

Knowledge, Skills & Abilities:

• Strong technical, analytical, organizational, computer, and team skills.
• Solid understanding of insurance company income statements and balance sheets, including the presentation of intangible assets and liabilities.
• Solid understanding of GAAP accounting standards applicable to insurance products, including ASC 944 and related intangibles guidance.
• Solid understanding of maintaining a strong internal control environment.
• Proactive individual who can provide strong technical support to the Actuarial Valuation team with solid analytical skills.
• Self-starter who demonstrates strong initiative and displays a high energy level.
• Strong problem-solving skills that include advanced analytical and reasoning abilities; demonstrated ability to apply actuarial principles to complex situations.
• Ability to establish and maintain strong internal relationships within the company.
• Team player who has the ability to function as a key member of a small group in which members of the team work with great autonomy; takes a high degree of ownership for their areas of responsibility as a subject matter expert.
• Knowledge of Microsoft Office applications (Word, Excel, PowerPoint, Access).
• Ability to learn and utilize actuarial software systems, including AXIS or similar platforms.
• Effective verbal and written communication skills; strong presentation skills are a plus.

Minimum Qualifications:

• Bachelor's Degree in mathematics, actuarial science, or a related technical field.
• 5+ year of relevant experience of related actuarial experience, with a focus on GAAP valuation preferred.
• Prior experience with intangibles reporting, including VOBA, DAC, DSI, and/or Cost of Reinsurance, is strongly preferred.
• Prior experience with actuarial modeling platforms (e.g., AXIS) is a plus.
• License/Certification FSA and MAAA certifications are strongly preferred; ASA designation may be considered with increased levels of relevant experience.

Other Requirements:

• This position primarily involves sedentary work, requiring long periods of sitting, regular use of a computer, and occasional standing or walking, with reasonable accommodations available.
• Perform other functions, duties and projects as assigned.
• Regular and punctual attendance.
• Ability to travel up to: 10% of the time.

Join our employee-centric hybrid work environment: F&G Careers About F&G Since 1959, Fidelity & Guaranty Life Insurance Company (F&G) has offered annuity and life insurance products to those who are seeking security in retirement and protection during life's unexpected events. As a national Top Workplace, an Iowa Top Workplace and a proud equal opportunity employer, F&G team members are empowered, collaborative, dynamic and authentic. We believe that by embracing these values, we will continue to build and strengthen the company while continuing to be a great place to work.