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Michigan Farm Bureau Family of Companies

Chief Actuary and Director of Life Actuarial

Michigan Farm Bureau Family of Companies, Lansing, Michigan, United States, 48900

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Chief Actuary and Director of Life Actuarial

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Chief Actuary and Director of Life Actuarial

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Michigan Farm Bureau Family of Companies Objective: To manage and plan the functions of the Life Actuarial Department, which supports product development, actuarial liabilities, financial projections, and determining reserves. To select, supervise and train Life Actuarial Department staff. Responsibilities

Manage the Life Actuarial Department. Recruit and retain qualified staff, measure and reward performance, and plan for succession. Develop and implement training programs to develop and cross-train the personnel. Complete performance reviews and participate in employee selection, promotion, discipline and termination in accordance with corporate guidelines. Communicate clearly and concisely the job expectations, service standards, and departmental and individual performance. Set expectations, and measure performance and accountability. Supervise pricing of all Life Company products. Monitor industry activity related to the actuarial function and incorporate new methodologies into department functions. Coordinate pricing activities with Products, Marketing and PHS to achieve corporate objectives. Interface with Marketing’s Managing Partners and agents. Collaborate with Marketing and Accounting to establish target profit margins consistent with corporate objectives. Introduce innovative practices for pricing, risk selection and rating variables, including use of predictive modeling. Research, design, and price new products. Monitor insurance needs of clients in Farm Bureau’s major markets. Maintain up-to-date information on changes in products and services provided by other financial institutions. Research feasibility of new product and service ideas. Maintain experience data for product pricing, such as mortality, expenses (general and marketing) and persistency (premium payment and contract). Design life and annuity products to meet the needs of Farm Bureau markets. Price new products to meet profit objectives as established by the corporate plan. Draft, design, and obtain legal approval of new policies and riders. Qualifications

Bachelor's degree required, preferably in mathematics, statistics, or actuarial science. Minimum ten years of life insurance experience working in an actuarial capacity required. Willingness to pursue continuing job-related training and education required. Completion of Fellow of the Society of Actuaries (FSA) designation required. Seven years managerial experience preferred. Notes

Farm Bureau offers a full benefit package including medical, dental, vision, and 401K. Job Details

Seniority level: Director Employment type: Full-time Job function: Finance and Sales Industries: Insurance Location and salary specifics are listed with job postings as applicable. Referrals increase your chances of interviewing at Michigan Farm Bureau Family of Companies. Get notified about new Chief Actuary jobs in Lansing, MI.

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