Director & Actuary Of In-Force Product Management, Individual Retirement

American International Group Houston , TX 77020

Posted 4 months ago

Functional Area:

AC - Actuarial

Estimated Travel Percentage (%): Up to 25%

Relocation Provided: No

American General Life Insurance Company

YOUR FUTURE TEAM

Our Life and Retirement division is a unique franchise that brings together a broad portfolio of life insurance, retirement and institutional products offered through an extensive, multichannel distribution network. It holds long-standing, leading market positions in many of the markets it serves in the U.S. With its strong capital position, customer-focused service, breadth of product expertise and deep distribution relationships across multiple channels, Life and Retirement is well positioned to serve growing market needs.

Our career progression program will provide you with the opportunity to develop your skills strengthen your productivity and be eligible to progressively advance to positions with an increased responsibility and increased compensation. We provide you with the training and opportunity for development you provide your dedication, willingness to learn for a winning combination!

AIG is one of the world's largest insurance organizations providing protection and financial solution, with a history dating back to 1919. Over 56,000 employees serve customers in more than 80 countries and jurisdictions around the globe. The Life and Retirement business provides American with protection, investment and income solutions needed for financial and retirement security.

Your Contribution at AIG

As a Leader, you are respected for your deep technical expertise and/or ability to oversee programs and processes. You balance the needs of multiple stakeholders, making sound decisions using data, analysis, experience, and judgment, along with a risk mindset. Ultimately, you take ownership for key outcomes.

Position Description:

AIG has an exciting opportunity for a Director & Actuary of In-Force Product Management, Individual Retirement. This position can be located in either Woodland Hills, CA or Houston, TX.

The Director is responsible for providing actuarial analytical support and collaborating with finance, experience studies and valuation teams to monitor experience and recommend strategies for enhancing the profitability of approximately 2 million in-force fixed, index, variable and immediate annuity contracts with more than $100 billion assets under management. Reporting to the VP of In-Force Product Management, this individual will also be involved in publishing results from in-force analysis.

The IDEAL candidate will have:

  • Fellow of the Society of (FSA) designation

  • 7+ years actuarial experience with a deep knowledge of annuities

  • Advanced degree desired

KEY RESPONSIBILITIES

  • Collaborate with partners within the department and across the organization to ensure appropriate data, assumptions and perspectives are considered in analysis and recommendations

  • Analyze client use of products/features and generate reports summarizing in-force analysis

  • Partner with finance team to establish methods for monitoring in-force profitability by line of business and product / feature

  • Recommend strategies for enhancing profitability of in-force products and provide support for implementing selected changes

  • Present in-force strategy to senior leadership to ensure alignment with overall business strategy

  • Design, test and adopt client retention strategies

  • In collaboration with pricing team, enhance and monitor rate-renewal strategies

  • Act as a change-agent to uncover new ways to maximize profitability of in-force annuities

  • Contribute ideas for the development of new products and enhancements to existing products

  • Help to maintain Product Management documentation and procedures

  • Other tasks as necessary to ensure timely, accurate, and cost effective support of annuity product initiatives

KNOWLEDGE/SKILLS

  • BA/BS and FSA/ASA required. Advanced degree desired.

  • 7+ years of actuarial experience with a deep knowledge of retail annuity products, with expertise in variable, index, fixed, and/or immediate annuities

  • Solid understanding of insurance company financials, including annuity pricing, risk management, GAAP and statutory accounting, regulatory requirements

  • Understands the aspects of policy owner options and the risk management thereof

  • Strong analytical and problem solving skills ability to understand impacts of simple to complex concepts

  • Highly organizedable to analyze and maintain large quantity of materials

  • Demonstrates an ability to meet multiple, dynamic demands on a daily basis and to balance those demands with the ability to plan and execute tactics for the future

  • Success in effective management of internal/external relationships

  • Strong communication skills, both verbal and written, and an ability to simplify complex concepts and to communicate to all levels of the organization

  • Ability to create compelling rationale for ideas and create thoughtful business cases

  • Demonstrated success in the design and delivery of new initiatives and ideas

  • Creative thinking, open-minded to others' ideas and suggestions

  • Knowledge of technology to support efforts

  • Excellent MS Office (Word, Excel, PowerPoint, Access) Skills

  • Self-starter, driven, ethical

  • Impeccable attention to detail, ability to create detailed reports and run analysis.

  • Ability to quickly adapt and adjust to change

It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.

At AIG, we believe that diversity and inclusion are critical to our future and our mission creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.

American International Group, Inc. (AIG) is a leading global insurance organization. Founded in 1919, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement products, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.

Join our Talent Network at http://www.aig.com/careers/life-at-aig/join-the-talent-network. Additional information about AIG can be found at www.aig.com and http:// www.aig.com/strategyupdate | YouTube: http://www.youtube.com/aig | Twitter: @AIGinsurance | LinkedIn: http://www.linkedin.com/company/aig. These references with additional information about AIG have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.

It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.

At AIG, we believe that diversity and inclusion are critical to our future and our mission creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.

We consider qualified applicants with criminal histories, consistent with applicable law.


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Director & Actuary Of In-Force Product Management, Individual Retirement

American International Group