Spotlighting Trends

Health Actuary, Midwest, USA: Expanding consulting firm seeks FSA with 6+ years experience. Must have project management experience and exceptional verbal/written communication skills. Great growth opportunity. (#32596)

Direct Entry Partner/Managing Director, USA: Leading global consultancy seeks a direct entry Partner and Managing Director to build out a Predictive Modeling - Analytics Practice for its Property & Casualty Advisory Services. Candidates will be seasoned consultants and/or industryfocused experts in predictive modeling. Location could be in major US cities, including New York, Chicago, Atlanta, Dallas, Philadelphia and San Francisco. (#50000)

Hot Job s R E TA i n E D P o S i T i o n S

Volume 1, Issue 1 – Fourth Quarter 2011

Senior Consultant, West, USA: Global consulting firm seeks FSA or ASA to manage their clients’ health and benefits consulting needs. Must have at least 7 years experience. (#33991)

Actuary, Midwest, USA: Insurer seeks ASA/FSA with 5-7 years of life & health experience. This leadership role requires a management background with excellent communication skills. (#32994)

Vice President & Senior Actuary, West, USA: Top Life insurer seeks FSA to develop modern Life products; minimum of 10 years of experience. Ideal candidate will have recent product development and financial reporting with the ability to lead and manage an Actuarial team. This position reports to the Chief Actuary. (#34177)

800-837-8338 / 312-867-2300 actuaries@dwsimpson.com www.dwsimpson.com

As we navigate the effects of the global financial crisis, it’s important for Actuaries to take stock of their analytic capabilities. The application of various modes of modeling is paramount in understanding how the Actuarial profession can continue to contribute and thrive. Actuaries historically have been at the forefront of modeling departments in both the insurance and consulting sectors. The Actuarial skill set now is seen as an integral component across several distinct areas including predictive modeling, catastrophe modeling, and the modeling of economic capital.

Predictive Modeling

We are seeing more companies give credence to predictive modeling in pricing and underwriting. We also are seeing new types of data being utilized in analysis. Companies are pushing for predictive analyt- ics and modeling in order to anticipate

Partner, USA: Leading global consultancy seeks a direct-entry Partner for its Life Advisory Services. Candidate will be a seasoned consultant who is excited about business development and has high-level client management experience. Location could be in a number of major US cities including Chicago, New York, Atlanta, Dallas, Philadelphia and San Francisco. (#32429)

Chief Life Actuary, Southeast, USA: Global Insurance Company seeks a Chief Actuary for their Latin American Life Insurance business. The Chief Actuary will lead the local Actuarial function in providing expertise on pricing, reserves, Actuarial financial analysis and ensuring business profitability objectives are met. Ideal candidate is a seasoned FSA with the ability to speak Spanish or Portuguese. (#34598)

consumer behavior and to implement preventa-tive wellness plans.

Economic Capital Modeling

To have a robust process of enterprise risk management, a company must have solid economic capital modeling capabilities which requires modernization of each company’s solvency and its relation to risk. Any company that operates globally will be affected by Solvency II as it relates to economic capital modeling, and will have to manage its businesses in a consistent manner. There is a growth market for Actuaries interested in positions involving enterprise risk management and economic capital modeling.

Catastrophe Modeling

More companies have begun to see the value of catastrophe modeling and realize the conse-quences of not using this type of modeling.Natural catastrophes come to mind when

thinking of this type of risk modeling, but the definition has expanded to include terrorism, workers’ compensation, offshore energy (such as the BP oilspill in the Gulf of Mexico), and accident and health.

As the world increasingly is driven by technol-ogy, and deeper data is available to Actuaries, modeling is becoming a more sophisticated art. The recent global financial crisis demon-strated some weaknesses in traditional methods of measuring capital adequacy. The result is a growing understanding that more thorough modeling, specifically in the area of economic capital, is necessary to understand better the potential effects of financial decisions. Catas-trophe modeling gives insurers the ability to estimate and prepare for the economic impact of a myriad of disasters.

These modeling roles have been viewed as separate functions in the past, but we are seeing more overlap in recent years. DWS

international news

More Hot Jobs

There are an increasing number of companies willing to consider hiring from outside their country and an ever-increasing number of Actuaries actively looking to move from one country to another.

Below are some ‘rules’ that usually apply which can provide guidance to aspiring international career movers: A company will always look locally first to fill its vacant positions. An overseas candidate needs to have a serious and genuine reason for seeking employment in a particular country. Candidates need to have a specific or scarce skill set to be considered. Generous expat financial packages are a thing of the past. Developing economies do not necessarily pay above local salaries to get overseas expertise. Acquiring a work visa for many countries has become more difficult.

The first step is to ask yourself: Where in the world do I want to go? Why? And when? Once the answers to these questions are determined, begin considering the following in relation to where you want to go:What is the current and future demand for my skills? What is the supply profile? Who

am I competing against? What are the current market trends that might influence demand for my skills? How can I differentiate myself to be an attractive candidate? What do I need to do to make this happen?

Let’s have a look at each of these in more detail, and give some specific examples to help guide you.

Since relocating to another country is a major investment for both you and a potential em-ployer, you both need to have a high degree of comfort that you will be happy and able to remain there for a significant amount of time.

What is considered an acceptable time varies

by country, sometimes culture, and often by immigration laws. For example, Bermudian employers are accustomed to having people stay for only two or three years. In other countries, potential employers will be keen to know that you plan on relocating or repatri-ating for good. In many developed markets, countries will only grant a work visa for a short amount of time, usually from three to six years.

Your interest in a location needs to make sense to a prospective employer. Commonly accepted reasons include returning to histori-cal family roots, having visited several times and really understanding the culture, wife/husband/partner is being relocated or has close family there.

This is not to say that those with a good help-ing of genuine wanderlust are not taken seri-ously, but be prepared to convincinglydemonstrate your commitment. Ways to do this could be as simple as getting on a plane and appearing on their doorstep in your own time and at your own expense. Although you can’t interview for a job, say,

ConTinGEnT PoSiTionSHealth Actuary, Midwest, USA: Consulting firm seeks an FSA 5+ years of Medicaid/Medicare/Healthcare experience in a project management role. (#32994)

Commercial Lines Actuary, USA: Property and Casualty insurance company seeks an FCAS with commercial lines pricing experience. Must have familiarity in middle markets and specialty lines of business. (#34377)

AVP, northeast, USA: Multi-national carrier seeking AVP/VP to join newly formed commercial lines group. In-depth understanding of data analysis as well as predictive modeling and management required. (#34292)

Chief Actuary, Midwest, USA: Large life insurance company seeks FSA with Life and Health product experience and 10 years of product development, valuation and pricing. Will report directly to CFO. (#34477)

Entry Level, northeast, USA: Property and Casualty insurance company seeks Entry level candidate with 1+ years/exams. SAS skills required. Programming experience strongly preferred. (#32690)

Vice President, Midwest, USA: Vice President level position for ACAS/FCAS with strong management experience. Will be involved in pricing and predictive modeling. Must have solid communication skills. (#34556)

Actuary, northeast, USA: Large international firm seeks ASA/FSA with strong accounting practice skills and background in investments. Experience with life modeling programs and management background preferred. (# 34539)

800-837-8338 / 312-867-2300 actuaries@dwsimpson.com www.dwsimpson.com

P L A n n i n G f o R E M P L o y M E n T o V E R S E A S

BROOKFIELD, Wisconsin (September 23, 2011) – DW Simpson announces the placement of Eric Carlson, FSA (1996), with retained client, Milliman Inc.’s IntelliScript practice. Eric joins the Brookfield, WI-based IntelliScript team as Lead Life Actuary. IntelliScript provides insurers with web-based tools to review and analyze prescription histories in the underwriting and claims investigation processes.

A Fellow of the Society of Actuaries with 20 years of experience, Eric brings active knowledge of the Life industry in both direct and reinsurance environments, including, but not limited to, expertise in product development and risk management.

A SnAPSHoT ofRECEnT PLACEMEnTS

Eric Carlson

What’s new?

The European launch of Solvency II is af-fecting not just companies in Europe, but around the globe. We are seeing organizations scrambling to create Solvency II departments, hire experts and redefine their overall risk strategies.

Solvency II is the updated set of regulatory requirements for insurance firms that oper-ate in the European Union. Based on Basel II, which regulates the banking industry and other financial institutions in Europe, Solvency II has been referred to as “Basel for insurers.” There are similarities, although Solvency II has been expanded to fit the insurance industry and puts a greater emphasis on enterprise risk management. Its ultimate goal is to create a single market for insurance services in Europe.

While it may appear that Solvency II is taking shape only in Europe, companies around the globe that have a European parent will be affected. Additionally, there are a number of global regulators who are considering adopt-ing very similar measures. Time is running out for Europe to create a single market based on economic principles to measure assets and liabilities. As a result, many Actuaries are being called upon to assist their companies in creating adequate operational policies as the European implementation moves forward.

in a number of ways. In addition to potential increased M & A activity, Actuaries will be key in the development of strategies to deal with the massive changes necessitated by Solvency II, particularly identifying the risks and overseeing the implementation of the technical guidelines and systems required by the new regulations.

Given the parameters of Solvency II, there has been, and will continue to be, an increased need for Actuaries on both the company and consulting sides of the profession, particularly those with international experience.

Actuaries who can claim Solvency II experience on their résumés, it seems, are in high demand, as are Actuaries with related experience in asset liability management, enterprise risk management, financial reporting, strategic pricing, M & A and capital management. As the implementation of Solvency II nears, we expect that growth in Actuarial opportunities globally will continue, not just for Europe parented companies, but also because those Actuaries who move into Solvency II roles will create a space to be filled. Additionally, as more of the developing countries model their own regulatory structure on Solvency II, Actuarial skills will be needed at a global level. DWS

Solvency II places a lot of emphasis on di-versification of an insurer’s portfolio, which should have an effect on the type of products developed on both the life and the non-life sides. These regulations will drive creativity and innovation in product pricing. Smaller in-surers, however, may suffer precisely because of the value and emphasis Solvency II puts on diversification. While large multi-national firms are often well-positioned to delve into

different product areas, smaller firms are more likely to specialize in a less expansive portfo-lio of products, and it may not fit their strat-egy to invest heavily in product diversifica-tion. Therefore, we could likely see an increase in the number of Mergers and Acquisitions in the insurance market. It’s likely that Solvency II will promote the use of Actuarial expertise

three years in advance, you can start talking to people, learn about their business prac-tices and make connections within the mar-ketplace. Once you have decided the time is right, plan on the search taking at least five to six months.

There is a considerable difference in the structure and development of insurance mar-kets around the world, which in turn heavily influences the demand for Actuaries and spe-cific Actuarial skills.

For example, if you are an expert at pricing motor vehicle insurance, you are unlikely to find a huge demand for your services in a country which has tariffs. However, if you know that the tariff is going to be removed, and it is therefore likely that many insurers are going to try and compete for that business and haven’t developed the expertise in-house, then it is likely you will find an increase in the demand for those skills.

In more established markets, increased mar-ket competition and regulatory requirements and a strong focus on developing more robust risk management techniques, particularly

following the GFC, has led to an increase in the demand for the Actuarial skill set to accommodate the need for complex analysis.

In emerging markets, what type of growth has been estimated, for what products, and how does that growth compare to the estimated domestic growth of the Actuarial profession? There is considerable and ongoing discussion about trends in emerging and growing markets, for example in China and India.

However, it is important to read behind the headlines in the context of Actuarial work and to remember that just because a market has a demand for insurance products and new insurers seem to be establishing themselves every week, this does not immediately translate in to a massive need for overseas Actuaries. Also remember that a region is not just the sum of its parts. Each individual country exhibits a different structure. For example, Hong Kong is heavily dominated by the regional offices of Life companies while Singapore has more P&C reinsurers.

Engaging or partnering with a good

international specialist recruitment company early in this process can provide you with updates of the trends in the marketplace as well as with contacts in the field.

As the search process and the move itself will be full of uncertainty, stress and probably some disappointment along the way, it is important to remember why you began the search in the first place. Remember that the opportunity to work, live and enjoy another culture is one of the most life-enhancing and broadening activities one can do. DWS

800-837-8338 / 312-867-2300 actuaries@dwsimpson.com www.dwsimpson.com

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DW Simpson will be attending the following Meetings, Seminars and Conferences:

Society of Actuaries Annual MeetingOctober 16 - 19 at the

Sheraton Chicago Hotel & TowersChicago, IL

Casualty Actuary Society Annual MeetingNovember 6 - 9 at the

Hyatt Regency ChicagoChicago, IL

The Southeastern Actuaries ConferenceNovember 16 - 18 at the

Loews HotelNew Orleans, LA

Casualty Actuaries of Greater New YorkDecember 7 at the New Yorker Hotel

New York, NY

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Welcome to the team...Carol Lee RecruiterGenevieve Shannon Social Media & Online Recruitment AssistantKriss Wells Operations Assistant & Database Manager Scott Simon Operations Assistant

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Ellen Hoppenjan Chief Administrative OfficerDavid Benton Senior DirectorKristyn Sakelaris Senior ManagerJason Blundy Senior Recruiter

2011 DW Simpson Scholarship Recipients

Drake University, IA - Elizabeth Wiebke

Illinois State University, IL - Benjamin Leifheit

University of Iowa, IA - Chris Nienart

Univeristy of Texas at Austin, TX - Michael Daehneand the DW Simpson Online Scholarship Recipient

Brandeis University, MA - Ben Henig