Ullico Inc., is actively recruiting a Chief Actuary for our Silver Spring, MD office. Reporting to the CFO, this position will direct, oversee and manage actuarial financial operations within The Union Labor Life Insurance Company (ULL) including life, health and annuity. As the appointed actuary, he/she will certify the accuracy of illustrations used by the company and the overall valuation of reserves.
Job Duties/Responsibilities are as follows:
- Oversee preparation of actuarial financial reserves and completion of financial statement.
- Manage corporate actuarial staff.
- Provide support for Life & Health business division, including pricing and experience analysis support as needed. Be member of divisional staff meetings.
- Develop actuarial policies and procedures.
- Oversee and approve annual preparation of unit/liability work flow projections.
- Prepare and submit the annual Actuarial Opinions and Opinion Memorandum, where required.
- Prepare and submit the Regulatory Asset Adequacy Issues Summary for all states requiring the summary.
- Prepare required internal memorandum when policy forms or rating manuals are revised.
- Makes presentations and reports to the Board of Directors, auditors, reinsurers and insurance departments.
- Handles enterprise risk management and reinsurance negotiations.
- Head of the Reinsurance Committee, Member of the Credit and ERM Committee.
- Review capital and target surplus projections for the Capital Management meeting.
- Assist in developing and implementing strategic plans related to: purchasing or selling a block of business; acquisition or sale of subsidiaries; and entering or exiting product lines.
The successful candidate will have a Bachelor’s Degree in Actuarial Science, Mathematics, Finance, or related field; Master’s Degree (preferred). An FSA (Fellow of the Society of Actuaries) Designation is required The ideal Chief Actuary will have strong, hands-on and strategic reserving and reinsurance expertise, and at least 10 years of management experience.
For over 90 years, Ullico, the only labor-owned insurance and investment company, has been a proud partner of the labor movement. From insurance products for members, leaders and employers, to investments that have created thousands of union jobs, our customers continue to count on Ullico to protect them. The Ullico Inc. family of companies includes The Union Labor Life Insurance Company; Ullico Casualty Group, Inc.; Ullico Investment Company, Inc.; and Ullico Investment Advisors, Inc.
We offer a competitive starting salary and an outstanding benefits package including health/dental/vision, 401(k) and pension plan.