Who We Are

Corebridge Financial helps people make some of the most meaningful decisions they’re ever going to make. We help them plan and take action to protect the future they envision and respond to some of life’s most difficult moments through the solutions and services we provide. We do this through our broad portfolio of life insurance, retirement, and institutional products, offered through an extensive, multichannel distribution network. We provide solutions for a brighter future through our client centered service, breadth of product expertise, deep distribution relationships, and outstanding team of hardworking and passionate employees.

Summary Of The Role

We currently seek a Director and Actuary, to support the Corebridge Insurance Company of Bermuda (CICB) Chief Actuary.  This position will report directly to the CICB Chief Actuary and will have frequent and regular interaction with the CICB management team, providing actuarial and finance support.

CICB is an important part of Corebridge’s strategic objectives, providing opportunities for enhanced returns. As such, CICB is experiencing significant growth in 2024 that is expected to continue. It currently consists of life insurance and individual fixed deferred and indexed annuity business and CRBG plans to explore reinsurance arrangements with other products as well. As CICB grows, the role will be involved in building the CICB infrastructure, including modeling, financial reporting, capital management, and governance and controls. This position is an exciting opportunity to grow with the company.

A primary responsibility of this role is Model Owner of the CICB valuation model, which follows the Bermuda Monetary Authority’s (BMA’s) Scenario Based Approach (SBA). Model Owner responsibilities include developing a deep understanding of the model, including model assumptions and parameters, and providing regular review and analysis of model results. Knowledge of the BMA’s SBA and other BMA regulations will be ideal.

The role will work directly with the CICB Chief Actuary to prepare analysis and clearly communicate financial risks and impacts with CICB management. The position’s focus will include the following efforts: 

• High quality and value-added analysis of CICB’s Economic Balance Sheet – Provide thoughtful analysis of the Best Estimate Liability and Risk Margin, including attribution and explanation of periodic changes and sensitivities

• Analysis of Bermuda Statutory Financial Statements (SFS) – develop understanding and communicate earnings drivers for CICB lines of business

• Budgeting / Forecasting – Translate earnings understanding into meaningful SFS and EBS budgets and forecasts, with a focus on capital

• Governance/controls – Develop and execute strong governance and controls, including executing Model Owner responsibilities and participating in periodic Pricing & Underwriting Committee meetings

• Annual assumption review – Lead CICB’s annual assumption review and unlocking process

• Track Bermuda regulations – Follow the BMA’s regulations and communicate potential impacts to CICB

• Strategic planning – Participate in analysis of assuming new flow business and inforce blocks of business to CICB as well as other special projects as they arise

Experience

• This individual must have a bachelor’s degree and should be a Fellow of the Society of Actuaries (FSA)

• An understanding of the key profit drivers for a variety of products along with statutory and GAAP accounting knowledge is key

• Must have excellent communication skills and the ability to interact with both business partners and business unit actuaries effectively.

• 10 + years of progressively more responsible actuarial experience 

• Ideal candidate will have a background in fixed deferred and fixed indexed annuities and Bermuda regulations

• Cross-functional experience desired (valuation, capital management, experience studies, ALM)

• Demonstrated success working in cross-functional collaborative teams and in working with senior management

• Highly motivated and results-oriented

• Ability to work independently and manage multiple priorities simultaneously

• Desire to deliver a complete work product

• Strong problem solving and analytical skills

• Strong oral and written communication skills

• Goal oriented and well-organized, with the ability to develop and manage disciplined processes

#LI-SB1  #LI-SAFG #LI-Hybrid

We are an Equal Opportunity Employer

Corebridge Financial, Inc., its subsidiaries and affiliates are committed to be an Equal Opportunity Employer and its policies and procedures reflect this commitment. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories such as sexual orientation. At Corebridge Financial, we believe that diversity and inclusion are critical to our future and our mission – creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.

To learn more please visit: www.corebridgefinancial.com

Corebridge Financial is committed to working with and providing reasonable accommodations to job applicants and employees with physical or mental disabilities.  If you believe you need a reasonable accommodation in order to search for a job opening or to complete any part of the application or hiring process, please send an email to [email protected].   Reasonable accommodations will be determined on a case-by-case basis.

Functional Area:

AC - Actuarial

Estimated Travel Percentage (%): Up to 25%

Relocation Provided: Yes

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