Industry Principal - Actuary (Life Insurance)
Location: Atlanta, GA and Boston, MA. This role requires travel as per project needs.
Job Description
As Industry Principal, you will contribute to different phases of the consulting lifecycle. You will be intensely involved in complex actuarial calculations and life insurance process consulting; defining problems, proposing, and creating solutions. You will possess strong knowledge of life insurance and annuity products. You will work closely with actuaries, business analysts, and software engineers to analyze, resolve, and provide expert advice on actuarial calculations as they pertain to US compliance. You will guide teams on project processes, deliverables, contribute to proposal development, client training, and internal capability building, and help detail the project scope from a compliance perspective. You will have the opportunity to shape value-adding consulting solutions that enable our clients to meet the changing needs of the global landscape.
Basic Qualifications:
- Bachelor’s degree or foreign equivalent required from an accredited institution. Will also consider three years of progressive experience in the specialty in lieu of every year of education.
- At least 13 years of relevant work experience in the job description.
Preferred Qualifications:
- Experience in life insurance/annuity new business and conversion projects.
- Knowledge of life insurance terminology and calculations for life and annuity product values like cash value, death benefits, compliance values like TAMRA premium, Deemed Cash Value (DCV), Necessary Premium Testing (NPT), Fair Market Value calculation (FMV), CVAT, and GPT values.
- Associate Society of Actuaries (ASA) or Fellow of the Society of Actuaries (FSA) designations.
- Familiarity with US 7702, 7702A, 101(f) regulations.
- Requirements gathering and creating actuarial requirements specification documents and getting signoffs from client actuaries.
- Proactively contribute to all associated project work streams ensuring appropriate knowledge and information is exchanged to drive successful project outcomes, including (but not limited to) 7702, 7702A, 101(f) related calculations.
- Analyze and resolve life insurance and annuity policy value, compliance value calculation, and analyzing mismatches (to resolve differences).
- Prioritize various production compliance issues and track them for resolution along with various project team/production support team members.
- Independently drive business meetings with actuarial stakeholders for prioritization, work intake, business review, and to provide regular feedback on work items.
- Create spreadsheet-based calculation tools for actuarial calculations.
- Strong working experience with client actuaries on defining actuarial requirements and translating them to software engineers for design and development.
- Experience delivering with near-shore and off-shore teams.
Note: Applicants for employment in the U.S. must possess work authorization.
The job entails sitting as well as working at a computer for extended periods of time. Should be able to communicate by telephone, email, or face-to-face.
About Us
Infosys McCamish Systems, located in Atlanta, Georgia, is the Life Insurance and Retirement Services subsidiary of Infosys BPO Limited. Infosys McCamish was started in 1985 as a virtual insurance company and went to market as a commercial services provider in 1995. It has an outstanding business perspective and an exemplary track record that no other outsourcer of business solutions can claim – generating US$16 billion of recurring premium in less than five years as a virtual insurance company. Infosys McCamish has expert technology and outsourcing credentials, along with a proven business model for re-engineering systems and performing back-office services at a reduced cost, while reinforcing accuracy, speed, and security. Seven of the top ten US insurers are among Infosys McCamish’s many BPM clients. Infosys McCamish has its operations spread across Atlanta GA and Des Moines IA in the USA.
EOE/Minority/Female/Veteran/Disabled/Sexual Orientation/Gender Identity
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