Product Modeling Actuary
Job ID #: 51339
Location: DE-Wilmington (downtown)
Functional Area: Actuary
Company Name: Alico
Employment Type: Not Indicated
Education Preferred: Bachelors
Experience Required: 3-5 years
Relocation Provided: Yes


Position Description
This individual will support the Product Centers of Excellence (PCE) Actuarial department in the review and evaluation of proposed, complex business initiatives and assist in the training of field actuaries in the use of actuarial modeling software and advanced modeling techniques. The purpose of the modeling is to demonstrate in product approval documentation the linkage between products, business metrics and the various financial targets set by the country, region, and Alico overall. Includes GAAP, statutory, tax, and capital targets to help the regions run their business in line with the overall goals of investors.

• Enhance actuarial software modeling capabilities with the Product Actuarial department
• Develop modules within the framework of an actuarial software package with the capabilities to develop pro-forma projections of:
o Distributable earnings based on local statutory requirements and company’s target capital and metrics derived from distributable earnings
o US GAAP earnings, equity and associated metrics, including for products requiring fair value calculations
o Other accounting models as they become effective
• Support the training of pricing actuaries at the local and regional centers in the use of actuarial projection software for product development purposes
• Provide technical support for pricing actuaries at the local and regional centers
• Provide home office technical support for the analysis of proposed business initiatives including the development of software capable of producing pro-forma projections as stated above, sufficient for home office decision making
• Some international travel may be required

Position Requirements
• 5 years of experience in a life insurance environment with actuarial modeling responsibilities
• Experience in the use of projection software is required
• FSA preferred; strong career ASA or equivalent may be considered
• Prophet, Moses and/or MF-ALFA experience preferred
• Understanding of US GAAP requirements strongly preferred
• Ability to understand alternative accounting models and customize actuarial software to accommodate numerous different accounting regimes and a wide array of products with features rarely offered in the US
• Exposure to individual life, health, and accumulation products

About Us
Alico is a leading international life insurer with a unique heritage of serving customers across the globe for over 85 years. The company provides consumers and businesses with products and services for life insurance, accident and health insurance, retirement planning, and wealth management solutions. Through an extensive network of over 40,000 agents, brokers and financial institutions and 11,000 employees across 54 countries, Alico services 19 million customers worldwide.

Alico has branch offices, subsidiaries and affiliates in emerging, developing and developed markets in Europe, Asia, the Middle East, Africa and Latin America. Alico is domiciled in Wilmington, Delaware and has regional headquarters in Tokyo, Paris, Athens, Dubai, and Santiago, Chile.