This position is based in Houston, TX (or alternate Corebridge locations) with the flexibility of a hybrid work environment.
Who we are
Corebridge Financial helps people make some of the most meaningful decisions they’re ever going to make. We help them plan and take action to protect the future they envision, and respond to some of life’s most difficult moments through the solutions and services we provide. We do this through our broad portfolio of life insurance, retirement and institutional products, offered through an extensive, multichannel distribution network. We provide solutions for a brighter future through our client centered service, breadth of product expertise, deep distribution relationships, and outstanding team of hardworking and passionate employees.
Your future team
This position will report to the Group Retirement Chief Finance Actuary and will be the lead actuary responsible for coordinating actuarial judgements for all pricing and in-force modeling needs. This position will also play a key role in supporting key Group Retirement strategic initiatives. Due to the nature of the CFA function the scope of responsibility spans all actuarial models including Pricing, Reserving, Cash Flow Testing, ALM, Internal Capital, and VoNB. This position will have regular interaction across the Group Retirement Business Unit (BU) actuarial functions supporting both the finance team and the valuation unit. This position will be highly visible to the business leaders of the organization.
We want to hear from you today if you can
Assumption Governance
- Work with the Group Retirement pricing team to determine the scope of experience studies and to develop a formal project plan for annual and periodic assumption unlocking.
- Engage key stakeholders to ensure adherence to Corebridge standards, including the assumption setting and experience studies standards, as well as any relevant Actuarial Standards of Practice.
- Provide recommendations for demographic, behavior, management action, and expense assumption changes for annual and ad hoc unlocking of in force models. Prepare assumption recommendation memos in accordance with the L&R Finance Actuarial Judgments Playbook.
- Coordinate the FAJ review and challenge process with key stakeholders as outlined in the L&R Finance Actuarial Judgments Playbook.
- Coordinate and support assumption implementation and testing work with downstream model owners including feedback loop verifying correct implementation.
- Liaise with internal and external audit teams, as well as ERM, to provide timely delivery of all requested documentation of assumption recommendations and other relevant materials. Monitor and resolve any actuarial issues related to Group Retirement.
- Maintain an assumption inventory and promote consistency of assumptions between actuarial functions and models.
Strategic Initiatives
- Provide analysis, research, document review, coordinate with subject matter experts across functions and develop a working knowledge of key issues as it relates to strategic initiatives including but not limited to:
- (1) ALM / Investment strategies
- (2) Product Development (e.g. In Plan Income)
- (3) Reinsurance
- (4) Capital Management
- Drive actuarial projects as needed to assist the success of the Group Retirement CFA.
Candidate Profile
The candidate will be able to show their ability to effectively lead others and will be able to display excellent analytical skills as well as written and oral communication skills. The candidate will have a strong background in actuarial modeling techniques. Ideally, they will have experience in developing and setting actuarial assumptions for annuity pricing and/or valuation models. Overall, the candidate will be highly motivated and results-oriented.
Requirements
- Bachelor’s Degree and FSA with 3+ years of experience post FSA; or ASA with 7+ years of experience post ASA
- 5+ years of progressively more responsible actuarial experience
- 3+ years of actuarial modeling experience with some experience in setting assumptions
- Excellent analytical skills
- Excellent written and oral communication skills
Preferred
- Strong knowledge of pricing and valuation under US Statutory, GAAP, and Market Consistent frameworks, especially regarding fixed and variable annuity products
- Experience with development of actuarial modeling assumptions
- Experience with writing actuarial memorandums
- Project management experience
What our employees like most about working for Corebridge Financial
- Our “Giving Back” policy is at the core of our daily operations and guides our future progress. Don’t believe us? We put our money where our mouth is! Corebridge Financial will give you up to 16 hours a year paid time off to volunteer in the community.
- A generous benefits plan including medical, dental, vision, FSA, 401(k) matching, 24 Paid Time Off days plus 17 holidays.
For positions based in Woodland Hills, CA the base salary range is $110,000-$160,000 and the position is eligible for a bonus in accordance with the terms of the applicable incentive plan. In addition, we're proud to offer a range of competitive benefits, a summary of which can be viewed here:
Benefits Overview
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We are an Equal Opportunity Employer
Corebridge Financial, Inc., its subsidiaries and affiliates are committed to be an Equal Opportunity Employer and its policies and procedures reflect this commitment. 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 such as sexual orientation. At Corebridge Financial, 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.
To learn more please visit:
www.corebridgefinancial.com
Corebridge Financial is committed to working with and providing reasonable accommodations to job applicants and employees with physical or mental disabilities. If you believe you need a reasonable accommodation in order to search for a job opening or to complete any part of the application or hiring process, please send an email to
TalentandInclusion@corebridgefinancial.com
. Reasonable accommodations will be determined on a case-by-case basis.
We consider qualified applicants with criminal histories, consistent with applicable law.
Functional Area:
AC - Actuarial
Estimated Travel Percentage (%): No Travel
Relocation Provided: Yes
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