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Core Deliverables and Responsibilities
Completing annual cash-flow testing and actuarial opinion, and coordinating all actuarial annual statement deliverables
Performing analysis to support updates to statutory valuation assumptions which minimize capital strain while ensuring reserve adequacy and compliance
Performing annual portfolio segmentation analysis to ensure appropriate asset / liability matching and recommend valuation discount rates
Developing reserve projections across GAAP, statutory and tax bases to support capital plan and surplus / dividend projections
Overseeing Reserving team’s compliance and control structure – Sarbanes-Oxley, balance sheet inventory, model governance, peer reviews, best practices, etc.
Stretch Deliverables / Differentiators
Streamline / enhance processes to complete core deliverables
Improve communication and collaboration on tasks involving multiple teams (e.g. annual statement)
Proposing enhancements to controls and best practices to ensure optimal compliance and governance
Better partner with CIM to drive optimal investment strategies and asset liability management
Competencies Utilized and Developed
Various different modeling projects (in Excel, Access, SQL), including projection of a full model office
Reviewing asset and liability characteristics to develop optimal asset allocation
Developing and reviewing key metrics to support recommendations for appropriate statutory valuation assumptions
Results of cash-flow testing and recommended changes to statutory valuation assumptions must be presented to divisional BFO, Chief Accounting Officer and Corporate Actuarial.
Various modeling tasks require inputs from several different areas, demanding clear communication to ensure consistency and timeliness
Develop a strong knowledge of key financial statements – income statement and balance sheet – and all aspects of the P&L by developing full end-to-end financial projections.
Gain an understanding of all valuation bases (GAAP, statutory, tax) and all Group products (Disability, Life, Accident, Specialty, Voluntary).
Management opportunities within the team (one manager role)
Opportunity to manage an intern (non-manager roles)
Team coordinates a number of cross-function projects requiring project management
Team members encouraged to partner with other areas by providing actionable insights and driving change
Other Reserving teams
Corporate Finance, Accounting and Actuarial
External auditors, PwC (Accounting and Actuarial)
Cigna Investment Management
Fellow of the Society of Actuaries (preferred) or Associate of the Society of Actuaries
Bachelor’s degree preferred
5+ years of actuarial experience
Group Insurance experience preferred
Statutory reporting knowledge preferred
Qualified applicants will be considered without regard to race, color, age, disability, sex (including pregnancy), childbirth or related medical conditions including but not limited to lactation, sexual orientation, gender identity or expression, veteran or military status, religion, national origin, ancestry, marital or familial status, genetic information, status with regard to public assistance, citizenship status or any other characteristic protected by applicable equal employment opportunity laws.
If you require an accommodation based on your physical or mental disability please email: SeeYourself@cigna.com. Do not email SeeYourself@cigna.com for an update on your application or to provide your resume as you will not receive a response.