Senior Actuary

Transamerica will begin reporting earnings under IFRS 9 and IFRS 17 for the first time beginning with Q1 2023. The Transamerica IFRS 17 team has worked for several years to get ready for this event. However, the project will continue well beyond Q1 2023:

• Training management and various teams throughout Transamerica on IFRS 17
• Refining IFRS 17 methodologies and assumptions
• Helping understand and tell the earnings “story” under IFRS 17
• Making “on-top” adjustments to overcome current tooling limitations
• Problem-solving: consulting with product actuaries, reporting accountants, the hedge team, and tax accountants to help solve questions or issues that may arise during the early quarters of IFRS 17 reporting
• Projecting earnings and developing “rules of thumb” for helping management understand the expected pattern of earnings and the risks

This position will be responsible for consulting across the organization to problem solve, refine methodologies, address issues across the organization with IFRS17 reporting, and facilitate organizational readiness. As issues arise, this person will help determine the best solutions and consult with reporting actuaries and accountants to make “on-top” adjustments to overcome current tooling limitations. The position will interact with a wide range of functions and specialties across the organization.

Responsibilities:

• Trains management and various teams throughout Transamerica on IFRS 17
• Refines IFRS 17 methodologies and assumptions
• Helps understand and tell the earnings “story” under IFRS 17
• Develop “rules of thumb” for helping management understand the expected pattern of earnings and the risks
• Team with reporting actuaries and accountants to make “on-top” adjustments when needed to overcome current tooling limitations
• Problem-solving: consulting with product actuaries, reporting accountants, the hedge team, and tax accountants to help solve questions or issues that may arise during the early quarters of IFRS 17 reporting
• Plays an active role in guiding the preparation and interpretation of actuarial and financial information
• Exercises significant judgment in setting priorities and determining necessary tasks
• Provides guidance and advice regarding technical actuarial issues such as financial statement mechanics, modeling methodology, and related matters
• Leads the preparation and interpretation of actuarial information for presentation to Senior Management
• Supports and assists Actuarial management to develop actuarial policies and procedures
• Leads several key projects at various times during the year
• Leads the development of actuarial talent within the organization
• Represents the company on industry and professional committees and/or with regulators
• Manages 1-2 employees

Qualifications:

• FSA or equivalent professional designation along with Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Economics or related field, and 8 years of relevant experience
• In lieu of Bachelor's, will accept Master’s in a listed discipline and 6 years or relevant experience
• In lieu of FSA will accept ASA or equivalent professional designation and 14 years of relevant experience
• Demonstrates high quality leadership, judgment, organization and prioritization skills
• Exhibits effective management skills to motivate and develop a staff
• Effectively communicates, both verbally and in writing, advanced mathematical and analytical concepts to various audiences
• Works well under pressure and within time constraints to effectively accomplish individual and team objectives

Preferred Qualifications:

• IFRS 17 Experience
• Working knowledge of key accounting concepts, in particular, the bottom-up construction of income statements, balance sheets, and their reconciliation
• Excellent computer skills

Working Conditions:

• Normal office or work from home environment
• Limited travel may be required

Compensation:

Please note that the compensation information that follows is a good faith estimate for this position only and is provided pursuant to applicable pay transparency and compensation posting laws. It is estimated based on what a successful candidate might be paid in certain Company locations.

The Salary for this position generally ranges between $148,000-186,000 annually. This range is an estimate, based on potential qualifications and operational needs. Salary may vary above and below the stated amounts, as permitted by applicable law.

Bonus Eligibility:

This position is also typically eligible for an Annual Bonus based on the Company Bonus Plan/Individual Performance and is at Company Discretion.

Equal Opportunity Employer:

Transamerica Life Insurance Company is an Equal Employment Opportunity employer and does not discriminate against any applicant or employee because of age, religion, sex, gender identity, genetic information, race, color, national origin, pregnancy, sexual orientation, marital status, participation in the uniformed services (e.g. U.S. Armed Forces, National Guard), physical or mental disability, or any other status protected by federal, state, or local equal employment opportunities laws.