Pan-American Life Insurance Group

Actuary

• Complete term market analysis in each market/company
• Design product features, riders and additional benefits that match market needs
• Collaborate with sales, management, and other applicable areas to define product, rider and additional benefit features and create product specifications
• Prepare high-quality documentation and presentations for management review of new or existing products
• Develop pricing models for term products and applicable riders in GGY AXIS, incorporating design variations as needed by market and actuarial assumptions
• Develop and/or review pricing/actuarial assumptions based on experience analysis or external sources, using actuarial judgment to adjust assumptions to suit the specific situation
• Develop insight into the most sensitive assumptions and product risks and their impact on design and pricing
• Calculate required profitability metrics and conduct sensitivity testing
• Recommend product designs and pricing based on profitability levels
• Complete pricing memos and review results with management to obtain approvals
• Calculate and document all required product rates
• Monitor policy activity, experience, and profitability of the term line of business in each market/company
• Review or generate regularly scheduled reports and ad-hoc reports as needed and distribute with a summary of findings
• Research irregularities or points of interest in emerging experience, provide feedback, and present findings as needed
• Improve efficiency of reporting
• Analyze competitor products and trends, evaluate market opportunities from distributor feedback and industry sources
• Compare existing products offered to competitor products in the market and recommend updates
• Stay up to date with regulations that impact pricing, such as reserves, applicable taxes, and required capital, and analyze the pricing impact
• Stay up to date with regulations that impact product features, illustrations, or customer communications
• Update and/or improve pricing models with changing experience or pricing assumptions, providing results and recommending product changes to management
• Lead product implementation of product changes
• Update product documentation with product changes
• Lead product implementation on administration and illustration systems
• Lead or provide support for product implementation within surround systems, materials, or processes
• Create technical specifications, calculation tools, references, and documentation for system testing
• Create test plans, conduct tests, resolve issues, and approve system configurations and coding
• Gain familiarity with system capabilities to determine which design features are feasible to administer in applicable systems
• Conduct product training and provide product documentation for relevant teams
• Support all tasks necessary for product launches or production changes
• Prepare policy form language in required language(s) that are compliant with insurance regulations in various markets/companies, consulting with relevant areas such as legal, compliance, and operations
• Prepare actuarial memoranda/certifications for submission to applicable regulatory bodies
• Provide required supporting documents for regulatory filings and support the filing process to obtain approvals
• Provide responses to regulatory inquiries and requests
• Participate in the special case review process for term policies
• Provide special illustrations or quotes as requested and approved
• Provide in force product and policy support to the operations team as requested
• Support sales, operations, legal, and other company teams by answering questions and solving problems related to products or policies
• Conduct product training sessions

Assistant Actuary