Actuarial Director

Job Description: We’re KSM, one of the top 50 largest independent advisory, tax, and audit firms in the United States. But more than our size, it’s our people and culture that set us apart. We believe great things happen when people are supported, challenged, and given the freedom to do their very best work. That’s why we’ve built a workplace where your career and personal life can thrive together – where you have the flexibility to manage your time, the resources to grow, and a team that genuinely cares about your success. We’ve been employee-owned since 2001, giving every team member a stake in our collective success. This ownership mentality fosters a culture of collaboration, curiosity, and excellence  – where new ideas are welcomed, different perspectives are valued, and you’re encouraged to explore what excites you most. Whether you’re expanding your skills, tackling new challenges, or making an impact beyond the office, we provide the resources and support to help you grow in the direction that’s right for you. At KSM, your contributions matter – not just to the firm, but to your colleagues, clients, and the communities we serve across the U.S. If you’re looking for a place where you can do meaningful work, build lasting relationships, and grow in ways that align with what’s most important to you, we’d love to meet you. Noble Consulting Overview: As part of the KSM family, Noble Consulting Services, Inc. is a nationwide consulting firm based in Indianapolis providing a full range of services to insurance regulators. Through our deep experience as former regulators, big-4 managers, and insurance industry professionals, as well as highly motivated recent graduates, we are recognized for our understanding of the insurance industry, regulatory environment, and emerging challenges.  We serve regulators throughout the nation who trust us in both routine and unique situations. Position Summary: The Actuarial Director is responsible for leading actuarial components of financial condition examinations of life insurance companies on behalf of regulatory bodies, other regulatory consulting projects and other insurance related engagements. Operating within a consulting environment, this role serves as the primary actuarial subject matter expert, owning workstreams related to statutory valuation, reserving adequacy, product pricing and actuarial modeling. For financial examinations, the Actuarial Director supports all seven phases of the risk-focused examination process for the actuarial functions of life and A&H insurers, including but not limited to reserving, pricing, and reinsurance activities. The actuary will be responsible for coordinating, directing, and implementing the actuarial portion of a financial examination, including evaluation of the governance and controls of an insurer’s reserving, pricing and/or reinsurance processes and performance of substantive examination procedures. Other projects include assisting in review of premium rate and policy form filings for state insurance department clients, as well as other projects providing valuation or other actuarial support to both regulatory and non-regulatory clients. This position will primarily relate to companies filing the life and A&H annual statement blank but may also perform services related to health insurers. The Actuarial Director provides independent, well-supported conclusions regarding insurers’ financial positions, ensuring alignment with NAIC regulatory frameworks and actuarial standards of practice. This position will report to the Vice President Actuary (chief actuary? Actuarial practice lead?). It will not initially have supervisory responsibilities but such responsibilities can be expected with growth in the actuarial staff. Responsibilities: Technical Regulatory Examination Leadership Lead actuarial workstreams within financial condition examinations of life insurers conducted on behalf of state Departments of Insurance Define scope, approach, and testing procedures for actuarial review areas Develop defensible conclusions and support overall examination findings and recommendations Statutory Valuation & Reserving Review Evaluate adequacy of statutory reserves, including principle-based reserving (PBR) frameworks (VM-20, VM-21, VM-22 as applicable) Review asset adequacy testing (AAT) and cash flow testing methodologies for compliance and reasonableness Assess key assumptions (mortality, lapse, interest rates, expenses) and identify potential reserve deficiencies Model, Assumption & Calculation Validation Review actuarial models, including methodology, governance, and controls Perform independent validation, benchmarking, or recalculation to corroborate company results Assess data quality, assumption-setting processes, and model validation frameworks Reinsurance & Complex Structures Evaluate reinsurance arrangements (including captives and offshore structures) for risk transfer, reserve credit eligibility, and economic substance Analyze the financial impact of reinsurance and capital optimization strategies Policy Form and Rate Review Analyze and evaluate life and A&H premium rate and policy form filing support documents, including nonforfeiture compliance for life insurance and annuity filings, loss ratio and related demonstrations of the reasonableness of A&H premiums, and compliance with other laws and regulations. Evaluate actuarial justification of requests for significant rate increases. Perform independent testing of ratemaking, nonforfeiture demonstration or other calculations, as needed. General Evaluate and leverage work of others, including CPAs, actuarial and risk management professionals, and internal auditors. Provide support to the Examiner-in-Charge and the examination team related to actuarial process governance and controls. Apply the Risk Focused approach in performing financial examinations. Assist regulatory review of reinsurance contra