Sr. Actuarial Associate (HP)

WHAT ARE WE LOOKING FOR?

This position will actively participate in company-wide reinsurance risk management activities and may include seeking and evaluating specific product and company-wide reinsurance coverages. This position will allow the student to gain a thorough understanding of reinsurance, including risk transfer principles, reinsurance structures, treaty language, and regulatory and accounting issues.

This position offers the candidate opportunities to work with a broad array of products and to work on a broad array of projects, many of which offer opportunities to understand various industry related matters from management's perspective. The student will have the opportunity to work with all areas of the company (IPD, ILD, GBD, International, Legal, Corporate Finance, ERM Group), will have interaction with senior management throughout the organization, and may also have interaction with external reinsurers. This position will have a significant impact on corporate business and financial results.

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.



WHAT ARE THE RESPONSIBILITIES OF THIS POSITION?


Maintain and enhance a company-wide reinsurance database with which to monitor aggregate reinsurance exposures;
Assist in the development of Corporate credit exposure guidelines for reinsurance, including defining exposure, developing exposure guidelines by criteria and working with divisions and Corporate Actuarial product review personnel to incorporate the guidelines into pricing and/or BMS;
Assist in ensuring divisional compliance with the Corporate reinsurance strategy by 1) working with the Divisions to ensure reinsurers meet our established credit criteria and are appropriately licensed; 2) monitoring corporate reinsurance credit exposures; and 3) reviewing treaties;
Draft, facilitate statutory filings for and monitor affiliate reinsurance transactions;
Produce reinsurance "Request for Proposals" (RFPs) as necessary, and evaluate proposals received; and
Assist the divisions with reinsurance issues as necessary.



Other projects that this position may be involved with include:
Assist in the development of Corporate reinsurance risk management procedures regarding such things as retention practices, treaty negotiation and use of intermediaries;
Monitor key developments (i.e. regulatory, accounting, competitive) in the reinsurance marketplace, determine their impact on The Hartford, and communicate these developments to our internal clients;
Assist in the education of divisional personnel through such media as newsletters and training courses;
Assist with Hartford Life's involvement in industry activities pertaining to reinsurance (e.g. ACLI Reinsurance Committee, SOA Reinsurance Section);
Assist in other Corporate Actuarial projects, as necessary.



Qualifications:
Ability to learn quickly and work independently;
Good organizational / project management skills;
Strong technical and analytical skills;
Experience with Access a plus, but not required;
Adaptable / Flexible -- ability to manage and prioritize dynamic workflow;
Strong written and oral communication skills;
Ability to build and maintain working relationships with individuals of all levels from other departments and with external reinsurers



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 $70,000-$90,000. 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.