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Job Details

Reinsurance-Sr-Actuary-1

Company name
Wells Fargo

Location
Charlotte, NC

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Profile

Wells Fargo Reinsurance (WF RE) is a leader in providing annuity and life reinsurance solutions. We provide surplus relief solutions on life, annuity and longevity business in the U.S. and internationally. We also offer risk transfer solutions on variable and fixed annuity business. These transactions are executed through one of three WF Re operated entities domiciled in Bermuda, Hawaii and Iowa. WF Re is looking for a Senior Actuary that will manage the life surplus relief solutions in force as well as be an integral part of a team researching and structuring new transactions.

Managing in force transactions would include analyzing actual to expected experience, assisting in developing annual budgets, providing quarterly earnings and balance sheet forecasts and resolving any significant issues with quarterly client ceding statements. Our clients provide us with the detailed U.S. statutory and tax reserve calculations. The Senior Actuary’s analysis would include trending and tests for reasonableness.

This position requires the Senior Actuary to remain current on developing U.S. statutory regulations (AG 48 and PBR), U.S. GAAP developments and regulatory changes in the relevant jurisdictions WF Re do business. The Senior Actuary will be expected to understand the accounting and regulatory developments and make specific recommendations to help WF Re more efficiently manage their inforce business as well as price new opportunities. Ideally, this individual would have had past experience in financial reporting, reinsurance and valuations.

Essential Functions:

75% - Manage inforce block of surplus relief business. Research mortality and longevity and help develop solutions for regulatory and accounting issues impacting WF Re and our clients. This position will include interacting with other Wells Fargo team members and senior individuals responsible for our performance. We would expect this position to have a good deal of external contact with clients and regulators.

25% - Assist in the review of new transactions.

Team members support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following, and adhering to and if applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements.

Required Qualifications:

* An active Associate of the Society of Actuaries (ASA) designation

* 5+ years of actuarial experience in one or a combination of the following: pricing, valuation, or business development of life/annuity products

How to Express Interest in This Job: Wells Fargo invites you to apply for this job at https://employment.wellsfargo.com/psp/PSEA/APPLICANT_NW/HRMS/c/HRS_HRAM.HRS_APP_SCHJOB.GBL?Page=HRS_APP_JBPST&FOCUS=Applicant&SiteId=1&JobOpeningId=5359752&PostingSeq=1.

All offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act.

Relevant military experience is considered for veterans and transitioning service men and women.

Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.

Relevant military experience is considered for veterans and transitioning service men and women.

Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.

Company info

Wells Fargo
Website : https://www.wellsfargo.com/

Company Profile
Wells Fargo & Company provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company’s Community Banking segment offers checking and market rate accounts, savings and time deposits, individual retirement accounts, and remittances; and lines of credit, auto floor plan lines, equity lines and loans, equipment and transportation loans, education and residential mortgage loans, and credit and debit cards. This segment also provides equipment leases, real estate and other commercial financing, small business administration financing, venture capital financing, cash management, payroll services, retirement plans, health savings accounts, and merchant payment processing and private label financing solutions, as well as purchases retail installment contracts. Its Wholesale Banking segment offers commercial loans and lines of credit, letters of credit, asset-based lending, equipment leasing, international trade facilities, trade financing, collection, foreign exchange, treasury management, investment management, institutional fixed-income sales, interest rate, commodity and equity risk management, insurance, corporate trust fiduciary and agency, and investment banking services, as well as online/electronic products. This segment also provides construction, and land acquisition and development loans; secured and unsecured lines of credit; interim financing arrangements; rehabilitation loans; affordable housing loans and letters of credit; loans for securitization; commercial real estate loan servicing; and real estate and mortgage brokerage services. The company’s Wealth, Brokerage, and Retirement segment offers financial advisory, wealth management, brokerage, retirement, trust, and reinsurance services. As of March 7, 2014, it operated through 9,000 locations and 12,000 ATMs, and offices in 36 countries, as well as through wellsfargo.com. The Company was founded in 1852 and is headquartered in San Francisco, California.

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