Product Development Life Insurance
Resume:
Patricia Tabor
Email: **********@********.***
Address: *** *. **** **** **.
City: United States
State: IL
Zip: 60143
Country: USA
Phone: 630-***-****
Skill Level: Experienced
Salary Range: $90,000
Willing to Relocate
Primary Skills/Experience:
See Resume
Educational Background:
See Resume
Job History / Details:
SUMMARY OF QUALIFICATIONS
Fellow of the Society of Actuaries, (FSA), who has the expertise and experience to shape an individual life insurance product from a marketing idea into a profitable introduction and sale in the marketplace. This includes putting up statutory, tax and GAAP reserves and negotiating reinsurance if necessary. I am seeking a position which will use my skills, enable me to grow professionally and create real value for the company.
CORE COMPETENCIES
Product development and implementation; policy form development; actuarial memorandum; experience studies including mortality and persistency; matching underwriting requirements with mortality classes; reinsurance negotiation, implementation, and treaty creation; asset adequacy analysis; financial reporting under statutory, GAAP, and tax assumptions.
PROFESSIONAL EXPERIENCE
TRUSTMARK INSURANCE COMPANY, Lake Forest, IL 2008 - 2012
Actuary : Financial Reporting
Calculated monthly life claim reserves, annual statement reserves, statutory, GAAP and tax reserves and special projects.
Combined two large Alfa models into one.
o Decreased the valuation staff by 1/3.
Created an action plan and test parameters for a new system.
o Enabled us to sell products in the State of New York.
Analyzed VM-20 regulation for future resource allocation.
NORTH AMERICAN COMPANY FOR LIFE AND HEALTH INSURANCE (NACOLAH), Chicago, IL 1985 - 2008
Actuary: Product Development Feasibility 2007 2008
Priced specialized products for selected agents and producers.
Updated universal life products for the 2001 CSO mortality table.
Developed a whole life product in collaboration with an internet provider.
Actuary: Product Development Reinsurance 2000 2007
Managed and negotiated all of NACOLAHs traditional reinsurance. Repriced and peer reviewed products after reinsuring them.
Recaptured $10B in term and Universal Life up to our new retention limit.
o Projected to save NACOLAH over $1.7M in net reinsurance costs a year, over 5 years.
Obtained approval from the Board of Directors to double our retention.
o Wrote a 30 page paper explaining the business and the recapture to the Board of Directors.
o Generated stochastic TAS scenarios using Excel to add to the basic scenarios.
Negotiated the receding of business reinsured with a failing reinsurer.
Assistant Actuary: Product Development Pricing 1993 - 2000
Designed life insurance products, including Term, Term UL, a lump-sum disability rider and annuities. Prepared AAA Opinions, Memorandums and Executive Summaries for 4 affiliated companies during 5 consecutive years.
Achieved designation of Fellow in the Society of Actuaries.
Restructured Guideline Triple-X factors used in term and universal life pricing.
o Provided extra capital available for company use.
Developed NACOLAHs first 30-year term product.
o Increased sales by 5%.
Redesigned the term premium interpolation, cash value and anti-selection calculation methods.
o Saved 20% in production time.
Revitalized business in our New York subsidiary by adapting nationwide products to comply with New Yorks regulatory requirements:
o Regulation 147 (New Yorks original Guideline Triple-X)
o Regulation 149 (segmented cash values).
Actuarial Analyst/Assistant Actuary: Corporate Actuarial 1990 - 1993
Contributed to company-wide budgeting and other projects using cash flow testing.
Achieved designation of Associate in the Society of Actuaries.
Fulfilled year-end requirements for Asset Adequacy Testing for NACOLAHs three affiliated companies.
Actuarial Analyst: Valuation/Financial Reporting 1986 - 1990
Calculated all annuity valuations.
Fulfilled regulatory requirements for Annual Statement Exhibits 8 B, C and 10, and year-end AAA testing.
Supervised the conversion of all immediate annuity valuations from IBM APL to Vantage RPS.
Validated calculations for deferred annuity reserves converted from account values to CARVM.
Actuarial Analyst: Product Development 1985 - 1986
Produced profit studies, calculated rates and tested illustration software.
Audited calculations for our agencies bonus programs.
TECHNICAL EXPERTISE
Microsoft Excel, Word, Access, MG-Alfa and SAS with sql, PowerPoint and TAS. Both written and oral presentations to people at all levels in the company, including the CEO.
PROFESSIONAL CREDENTIALS
Fellow in the Society of Actuaries since 2001,
Member of the American Academy of Actuaries since 1991
Member of the Chicago Actuarial Association since 1987
EDUCATION
BS, Mathematics, Minor in Business, DePaul University, Chicago, IL
INTERESTS AND ACTIVITIES
Read books and periodicals, particularly those focused on my profession.
Travel in the United States and Europe.
Enjoy eating out with friends and family.
VOLUNTEER WORK
Volunteer for PADS, Inc. (Public Action to Deliver Shelter) to help the homeless of DuPage County, IL
Member of the Chicago Actuarial Association workshop planning committee, 2011
Achieved ACB in Toastmasters International, Inc and was a Club Officer, 1990-2008
Graduated from New Wine, a three-year leadership program sponsored by the Diocese of Joliet 2008-2011
Active in Church community
Actuarial exam supervisor in 2012
Contact this candidate