AVP, Group Valuation

You are as unique as your background, experience and point of view. Here, you'll be encouraged, empowered and challenged to be your best self. You'll work with dynamic colleagues - experts in their fields - who are eager to share their knowledge with you. Your leaders will inspire and help you reach your potential and soar to new heights. Every day, you'll have new and exciting opportunities to make life brighter for our Clients - who are at the heart of everything we do. Discover how you can make a difference in the lives of individuals, families and communities around the world.

Job Description:

Location: We support US flexible working arrangements in the contiguous 48 states.

At Sun Life, we look for optimistic people who want to make life brighter for our Clients. We understand the value of diverse cultures, perspectives, and identities, and want you to bring your full and authentic self to work. Every day, you'll be empowered and challenged by working with dynamic colleagues to find new and innovative ways to make Sun Life the best benefits company in America.

This position reports to the Vice President and CFO, Group Benefits and National Accounts. This position manages the valuation and actuarial financial reporting activities for Group Benefits--National Accounts, FullscopeRMS and Stop Loss & Health.

How you will contribute:

Manages multiple financial functions, providing strategy and direction for financial controls and planning. Manages internal/external relationships and alerts senior management to risks and exposures. Interacts with internal/external auditors, tax regulators etc.; ensures financial controls are in place; provides critical information to senior management for financial planning and decision making and enhances financial frameworks to achieve business results. Typically has achieved a professional designation. Accomplishes results through lower management levels. Directs a unit with noticeable functional variety or guides multiple sub functions.

Responsibilities:

• Serve as the Business Unit Valuation Actuary (BUVA) for all Group Benefits-National Accounts, FullscopeRMS.
• Calculate monthly reserves accurately, and in required timelines to be booked to ledger.
• Oversee the development, implementation and documentation of valuation assumptions for all reserve bases: IFRS, NAIC, and Tax (including their annual updates in Experience Studies/ACMA).
• Lead the development, implementation and documentation of valuation models for group products (with particular emphasis on the upcoming transition to IFRS 17).
• Support the development of financial forecasts
• Oversee the completion of all quarterly and year-end regulatory reporting of actuarial items: LICAT, RBC, Appointed Actuary's Report
• Manage the Valuation Issues log and approximation lists
• Assist the Investment Division in implementing effective asset/liability matching for group products
• Respond to internal and external audits on behalf of the Division
• Conduct financial analyses of the profitability of specific group products as requested
• Maintain valuation models and processes with appropriate level of documentation
• Perform work in compliance with the Application of CIA Principles and Sun Life policies and guidelines governing the use of financial models
• Perform quarterly reporting for CFT, and annual reporting for NAIC asset adequacy
• Develop and implement assumptions
• Collaborate with U.S. Chief Actuary, ALM and other key stakeholders in the financial reporting process

What you will bring with you:

• Fellowship in the Society of Actuaries and Member of the American Academy of Actuaries with 10+ years actuarial experience
• Microsoft Office, SAS, AXIS knowledge, and ability to comprehend system flows
• Strong verbal and written communication skills
• Ability to independently direct projects and support staff within the scope of the position
• Valuation and/or group product experience a plus
• Strong problem-solving skills
• Strong communication skills
• Strong teamwork and collaboration skills
• Ability to critically review processes and procedures to find efficiencies and areas of improvement
• Manage staff of 12

Do you see yourself in this role even if you haven't checked all the boxes above? We welcome all talented candidates and are committed to a culture that represents diversity in all forms. If you think you might thrive in this setting, we would love to hear from you.

Not ready to apply yet but want to stay in touch? Join our talent community to stay connected until the time is right for you!

Life is brighter when you work at Sun Life

• Excellent benefits and wellness programs to support the three pillars of your well-being - mental, physical and financial - including generous vacation and sick time, market-leading paid family, parental and adoption leave, a partially-paid sabbatical program, medical plans, company paid life and AD&D insurance as well as disability programs and more
• Retirement and Stock Purchase programs to help build and enhance your future financial security including a 401(k) plan with an employer-paid match as well as an employer-funded retirement account
• A flexible work environment with a friendly, caring, collaborative and inclusive culture
• Great Place to Work® Certified in Canada and the U.S.
• Named as a "Top 10" employer by the Boston Globe's "Top Places to Work" two years running

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

If you are a California resident, the salary range for this position is:

• Southern California region: $201,600 - $302,400 annually

• Central California region: $201,600 - $302,400 annually
• Northern California region: $201,600 - $302,400 annually

If you are a Minnesota, Colorado or Nevada resident, the salary range for this position is $201,600 - $302,400 annually

If you are a Connecticut or Maryland resident, the salary range for this position is $201,600 - $302,400 annually

If you are Washington or Rhode Island resident, the salary range for this position is $201,600 - $302,400 annually

If you are a New York resident, the salary range for this position is $201,600 - $302,400 annually

We consider various factors in determining actual pay including your skills, qualifications, and experience. In addition to salary, this position is eligible for incentive awards based on individual and business performance as well as a broad range of competitive benefits.

Sun Life Financial is a leading provider of group insurance benefits in the U.S., helping people protect what they love about their lives. More than just a name, Sun Life symbolizes our brand promise of making life brighter -for our customers, partners, and communities. Join our talented, diverse workforce and launch a rewarding career. Visit us at www.sunlife.com/us to learn more.

At Sun Life we strive to create a flexible work environment where our employees are empowered to do their best work. Several flexible work options are available and can be discussed throughout the selection process depending on the role requirements and individual needs.

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Our Affirmative Action Program affirms our commitment to make reasonable accommodation to the known physical or mental limitation of otherwise-qualified individuals with disabilities or special disabled veterans, unless the accommodation would impose an undue hardship on the operation of our business. Please email [email protected] to request an accommodation.

At Sun Life we strive to create a flexible work environment where our employees are empowered to do their best work. Several flexible work options are available and can be discussed throughout the selection process depending on the role requirements and individual needs.

For applicants residing in California, please read our employee California Privacy Policy and Notice.

Job Category:

Actuarial

Posting End Date:

18/07/2024

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.