Symetra has an exciting opportunity to join our team as an
Assistant Vice President, Actuary in our Retirement Division !
About The Role
In this role you will play a key part in Symetra’s reinsurance strategy by developing and maintaining reinsurance treaties and amendments for the Retirement Division that are consistent with our strategies and standards. This role provides the opportunity to interface with reinsurers, internal stakeholders, and senior management in order to develop relationships and achieve success. This position will require a unique blend of reinsurance knowledge, technical actuarial background and strong communication and relationship building skills.
Manages a major section or function within a division. This could include pricing/product development, financial reporting, risk management and/or modeling. Distinguished from the Actuary III position via additional breadth in management responsibilities and overall scope of responsibilities. This role is market-driven depending on the company and business needs. Seen as an apprentice to the aligned VP. Supervises actuarial staff and mid-level highly experienced actuaries.
What You Will Do
- Drives the reinsurance strategy for the Retirement Division cultivating and maintaining relationships with reinsurers and understanding division priorities and connecting those with reinsurance opportunities to present to actuarial and division management for consideration.
- Analyzes potential future reinsurance transactions, including offshore agreements, through various means including spreadsheet or ALFA modeling.
- Leads cross-functional projects and drives coordination with areas including but not limited to legal, finance, capital solutions, reinsurance administration, and retirement product development.
- Will interface with reinsurers both with respect to deal negotiations and at industry conferences to understand what is available in the market
- Performs analysis of existing reinsurance agreements to assess the financial viability of maintaining the agreements in place and optimize the terms of the agreements. Makes recommendations to management accordingly based on the results of this work. Works with reinsurers and internal stakeholders to renegotiate reinsurance agreements as needed.
- Will serve as a liaison with corporate actuarial groups including the enterprise risk function, the capital solutions group, and the finance actuarial function
- Understands how Symetra’s retirement business would be impacted by various reinsurance structures and parameters and makes recommendations for optimal outcomes. This includes understanding and working through various accounting and tax implications in partnership with internal and external experts.
- Will help establish and run operational aspects of reinsurance for the retirement division. Ensures that RD administrative processes are consistent with reinsurance contract terms. Takes lead in partnership with finance on providing reinsured policy data and any necessary calculations. Would help validate any reinsurance settlement files compiled by finance. Works with the retirement actuarial reporting function to ensure appropriate reserving calculations where necessary.
- Advises on the appropriateness of reinsurance assumptions used in the pricing of retirement products.
- Would be the lead contact on reinsurance status updates and report outs as well as any audits around reinsurance, both internal and external.
- Approximately 25% of time spent on recurring duties, 35% on project related work, and 40% management related duties including reviewing work, developing employees, and leading teams
Why work at Symetra
“If you want to invest in yourself and build a career, this is a great place to work. If you don't want to put in the effort to learn the industry and become a student of the business (it takes real effort!), there are easier places to work.” Cris H. - AVP Internal Sales, Training and Development
“Symetra is inclusive of all employees regardless of their personal differences.” Darrell J. - Actuary III
“Symetra values learning. Symetra has so many resources - whether that is the Student of the Business courses, sponsorship of professional certifications, or just individual employees being so willing to teach and answer questions.” Felicia D. - Financial Reporting Lead Senior Analyst
What We Offer You
We don’t take a “one-size-fits-all” approach when it comes to our employees. Our programs are designed to make your life better both at work and at home.
- Flexible full-time or hybrid telecommuting arrangements
- Plan for your future with our 401(k) plan and take advantage of immediate vesting and company matching up to 6%
- Paid time away including vacation and sick time, flex days and ten paid holidays
- Give back to your community and double your impact through our company matching
- Want more details? Check out our Symetra Benefits Overview
Compensation
Salary Range: $146,800 – $244,700 plus eligibility for annual bonus programs
Who You Are
- Bachelor’s degree or equivalent with strong quantitative background including college level Mathematics
- 8-10 years of insurance related actuarial experience
- 2+ years of direct experience with reinsurance
- FSA required
- Must have annuities experience.
- Fixed Indexed Annuity and Registered Indexed Annuity Experience Preferred
- Exceptional technical and computer skills, including use of complex spreadsheets, PowerPoint, and data management tools
- Deep expertise in insurance product pricing and knowledge of industry trends Strong aptitude to manage a complex set of simultaneous projects and initiatives to successful outcomes
- Proactively communicates without prompting and independently drives action to address work needs
- Proven ability to present technical information to large audiences
- Professional presence with polished and well-developed oral/written communication, interpersonal and team skills
- Broad expertise in a variety of company, industry, and regulatory actuarial issues
- Expressed commitment to professional development
- Highschool diploma required
Travel
- Required Training & Professional Development All newly hired people leaders with direct reports are required to complete a comprehensive leadership development program within their first year. This program includes both virtual and in-person training. The in-person sessions will take place at Symetra’s corporate headquarters in Bellevue, Washington. Symetra covers all travel and accommodation expenses.
- Reasonable Accommodations Symetra is committed to providing equitable access to all job-related responsibilities, including required travel. If reasonable accommodations are needed for travel, Symetra’s HR department will work to provide appropriate solutions in alignment with individual needs and company policies.
We empower inclusion
At Symetra, we aspire to be the most inclusive insurance company in the country. W e’re building a place where every employee feels valued, respected, and has opportunities to contribute. Inclusion is about recognizing our assumptions, considering multiple perspectives, and removing barriers.
We accept and celebrate diverse experiences, identities, and perspectives, because lifting each other up fuels thought and builds a stronger, more innovative company. We invite you to learn more about our efforts Here .
Creating a world where more people have access to financial freedom
Symetra is a national financial services company dedicated to helping people achieve their financial goals and feel confident about the future. In our daily work, we’re guided by the principles of Value, Transparency and Sustainability. This means we provide products and services people need at a competitive price, we communicate clearly and openly so people understand what they’re buying, and we design products—and operate our company—to stand the test of time. We’re committed to showing up for our communities, lifting up our employees, and standing up for diversity, equity and inclusion (DEI). Join our team and help us create a world where more people have access to financial freedom.
For more information about our careers visit: https://symetra.eightfold.ai/careers
Work Authorization
Employer work visa sponsorship and support are not provided for this role. Applicants must be currently authorized to work in the United States at hire and must maintain authorization to work in the United States throughout their employment with our company.
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