Job Description:
Actuary & Model Steward
Fidelity Investments Life Insurance Company (FILI) is looking for an Actuary to help drive our future state of reserve modeling and valuation for our life and annuity products. Be part of a team with wide-ranging strengths that builds, promotes, and supports Fidelity’s outstanding future state experience!
Note: Fidelity is not providing immigration sponsorship for this position.
The Role
As Actuary & Model Steward, you are responsible for actuarial models used in reserve valuation for all products, focusing on the development, enhancement, and governance of models used for determining reserves, Risk Based Capital, assessment of reserve adequacy, and other risk management purposes. You are both a leader and individual contributor on the modeling team. You also provide in-depth analysis to support annual certifications of reserves and reserve adequacy.
Provide leadership to the modeling team by planning for and recommending model updates including those resulting from regulatory developments and software enhancements
Model actuarial values including principle-based reserves (PBR), and ensure compliance of reserves with applicable regulations and Actuarial Standards of Practice
Serve as the Qualified Actuary for Variable Annuity PBR calculations
Research, understand, and implement statutory and GAAP reserving requirements for newly developed products
Monitor regulatory developments affecting reserves and other actuarial items.
Design and implement Prophet models with a focus on streamlining, automating, and enhancing model efficiency
The Expertise and Skills You Bring
Fellow of the Society of Actuaries (SOA) or experienced Associate of the Society of Actuaries
15+ years of actuarial experience, with demonstrated competency in the specific responsibilities for this position
Solid knowledge of individual annuity and life insurance products
Prior experience working in Prophet is preferred, prior experience with another modeling software package such as AXIS or MG-ALFA may be considered
Conforms to SOA Continuing Professional Development requirements
Strong interpersonal skills, including the ability to help key constituents understand valuation issues and explain sophisticated topics to non-technical people at all organizational levels
The Team
Fidelity Investments Life Insurance Company provides financial products that help Fidelity’s investors achieve lifetime financial goals. Our products help ensure our clients do not outlive their assets in retirement, safeguard one’s portfolio from market volatility and protect against premature death.
The base salary range for this position is $130,000-264,000 USD per year.Placement in the range will vary based on job responsibilities and scope, geographic location, candidate’s relevant experience, and other factors.
Base salary is only part of the total compensation package. Depending on the position and eligibility requirements, the offer package may also include bonus or other variable compensation.
We offer a wide range of benefits to meet your evolving needs and help you live your best life at work and at home. These benefits include comprehensive health care coverage and emotional well-being support, market-leading retirement, generous paid time off and parental leave, charitable giving employee match program, and educational assistance including student loan repayment, tuition reimbursement, and learning resources to develop your career. Note, the application window closes when the position is filled or unposted.
Please be advised that Fidelity’s business is governed by the provisions of the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the Investment Company Act of 1940, ERISA, numerous state laws governing securities, investment and retirement-related financial activities and the rules and regulations of numerous self-regulatory organizations, including FINRA, among others. Those laws and regulations may restrict Fidelity from hiring and/or associating with individuals with certain Criminal Histories.
Most roles at Fidelity are Hybrid, requiring associates to work onsite every other week (all business days, M-F) in a Fidelity office. This does not apply to Remote or fully Onsite roles.