Actuarial Consultant (HP)

WHAT ARE WE LOOKING FOR?

The candidate will be offered entry into Hartford's Executive Actuarial Rotational Training (HEART) Program, providing minimum entry requirements are met. The HEART program provides support for actuarial examinations, and leadership and professional development.

The HEART Program assists students to develop core skill areas such as Personal Commitment, Interpersonal Relations, Analytical Skills, Business/Organizational Knowledge and Leadership.

Actuarial students rotate within Hartford Life to professionally develop into successful actuaries. Actuarial students drive the rotation process, both in terms of timing and destination, choosing from available positions within the company. Rotations vary in length from eighteen months to two years, with the minimum rotation set at 12 months.

Actuarial students receive 130 study hours every six months to study for actuarial examinations. The HEART program provides comprehensive exam support, including examination fees, exam and study materials. Students may attend one seminar per examination, subject to minimal restrictions. Salary increases are automatic upon passing actuarial examinations.

This position offers the candidate opportunities to work on a very broad array of projects, many of which are "cutting edge". The main areas the candidate will focus their energy on are:

A. Analysis of variable annuity stochastic capital, reserves, and the impact of hedging.

B. Analysis of life insurance stochastic capital and reserves.

C. Assisting lines in asset adequacy analysis.

D. Supporting miscellaneous projects.

Analysis of Stochastic Capital, Reserves, Capital requirements for VA products was implemented on a stochastic basis beginning 12/31/2005 and stochastic reserves are expected in 2007 or shortly thereafter. This is a significant change from the formulaic methods that are in use today and requires a thorough analysis. Since the analysis needs to incorporate the impact of hedging the candidate must become quite familiar with our hedging strategy and the underlying GAAP, statutory, and tax accounting.

The industry is presently developing proposals for stochastic capital and reserves for life insurance. This position will involve various support in this endeavor, including but not limited to modeling and recommending various proposals.

The candidate will be involved with various departments within the company and possibly individuals outside of the company.

Asset Adequacy Analysis: Be part of the team responsible for completing the asset adequacy project. Assist the lines of business in such areas as building and running models, validating models, analyzing results, updating memorandums, etc. Candidate will gain a understanding of the products, accounting requirements, cash flow drivers, risks, and the statutory income/surplus elements of the various lines of business.

Special Projects: The candidate will also have the opportunity to work on other ad hoc projects (e.g. pricing). This may require working with other supervisors within the unit.

WHAT ARE THE RESPONSIBILITIES OF THIS POSITION?

Competencies required/acquired for this position include, but are not limited to, desire to learn, technical skills, self management and motivation, interpersonal communications, leadership, business/organization knowledge, and possibly performance management/coaching.

Qualifications -

The candidate must have the ability to work both independently and within groups, manage their time and priorities, provide extraordinary customer service, build and maintain working relationships with individuals from other departments, and possess a hunger for knowledge. Working knowledge of MoSes is required. Prior experience in actuarial work is required.

WHY JOIN THE HARTFORD?

As a global leader in insurance, asset management and financial service products, we offer professionals every possibility for growth. And whether we're helping customers or building careers, we're experts at creating the kind of advantages that help people reach their goals.

Hartford Life is:
The nation's 4th largest life insurance group based on assets (Thompson Financial Insurance Solutions, 2003)
No. 1 in variable annuity sales in US
No. 1 in variable annuity sales in Japan (and introduced a fixed annuity product in September 2004)
No. 2 in group disability in-force premium
No. 3 in structured settlement sales
No. 3 in variable universal life sales
No. 5 in group life in-force premium
Growing rapidly in other lines including mutual funds and 401(k)

We are rated:
A+ (Superior) by A.M Best
AA (Very strong) by Fitch
Aa3 (Excellent) by Moody's
AA (Very strong) by Standard & Poor's

Why else? We achieve a consistent growth rate of approx 15% annually. In 2005, we achieved over $2 Billion in earnings, and that was our goal for 2007! Conservative investments make us financially stable. We offer a suite of products, all in one location, can the other insurance carriers offer same career growth without having to move every few years?

We focus on the "well rounded" actuary, individuals who can run their position as its own business, present to senior management on a regular basis, and work closely with other non-actuaries, as well as handle all of the technical aspects of their job. Because of this, our student program also grows top-notch FSAs with multiple rotations and management experience behind them. In fact, actuaries occupy lead positions in every single business division. Just ask our President and Chief Operating Officer, who is also an actuary, and a graduate of our actuarial rotation program!



WHAT IS THE COMPENSATION OPPORTUNITY?

At the Hartford, our compensation philosophy is simple: we pay competitive base salaries and reward performance. The base salary for this position ranges from $80,000-$110,000. In addition, you will be eligible to participate in our comprehensive benefits program including Medical, Dental, Life and Disability insurance, and 401(k) plan, and Employee Stock Purchase plan and more.