AVP, Valuation - IDI (Individual Disability Insurance) Actuary Hybrid Role

Unum | Portland, ME, United States

Posted Date 9/18/2023
Description Job Posting End Date: October 06

When you join the team at Unum, you become part of an organization committed to helping you thrive.

Here, we work to provide the employee benefits and service solutions that enable employees at our client companies to thrive throughout life’s moments. And this starts with ensuring that every one of our team members enjoys opportunities to succeed both professionally and personally. To enable this, we provide:

  • Award-winning culture
  • Inclusion and diversity as a priority
  • Performance Based Incentive Plans
  • Competitive benefits package that includes: Health, Vision, Dental, Short & Long-Term Disability
  • Generous PTO (including paid time to volunteer!)
  • Up to 9.5% 401(k) employer contribution
  • Mental health support
  • Career advancement opportunities
  • Student loan repayment options
  • Tuition reimbursement
  • Flexible work environments

*All the benefits listed above are subject to the terms of their individual Plans.

And that’s just the beginning…

With 10,000 employees helping more than 39 million people worldwide, every role at Unum is meaningful and impacts the lives of our customers. Whether you’re directly supporting a growing family, or developing online tools to help navigate a difficult loss, customers are counting on the combined talents of our entire team. Help us help others, and join Team Unum today!

General Summary:

This FSA required actuarial position is responsible for establishing valuation assumptions and methodologies consistent with appropriate guidance for GAAP, Statutory and Tax reporting and monitoring emerging experience and pricing actions to assess the need for assumption updates. This position also supports annual reporting for reserve adequacy and cash flow testing as well as quarterly and annual financial reporting functions. This position is responsible for ensuring that processes and procedures comply with Sarbanes-Oxley reporting requirements. This job interacts with accounting, internal and external auditors, and other Actuarial functions.

Principal Duties and Responsibilities

  • Establish assumptions for valuing liabilities and DAC assets consistent with appropriate reporting guidance and actuarial standards of practice
  • Monitor experience and changes in pricing views to assess impact on valuation
  • Make recommendations concerning valuation of liabilities consistent with reporting guidance and standards of practice; support similar analysis related to GAAP DAC assets
  • Integrate valuation process with modeling processes as required to support liability testing for reserve adequacy and cash flow testing
  • Support and ensure compliance with financial reporting requirements for monthly, quarterly, and annual reporting for Statutory, GAAP and Tax liabilities
  • Support both internal and external audits of liabilities; interact with internal and external auditors as needed
  • Support periodic reporting and modeling of the business for financial planning, reserve adequacy analysis, and cash flow testing
  • Monitor proposed or prescribed requirements related to emerging valuation practices; analyze implications to Statutory and GAAP reporting for the lines of business
  • Within IDI (Individual Disability Insurance) product line - support of settlement functions, support of reinsurance transactions, support of financial planning functions, etc.
  • Manage a staff including various levels of IDI actuarial and financial resources up to Director level.
  • May perform other duties as assigned

Job Specifications

  • Bachelors degree and FSA required with minimum of 5 years post FSA experience, advance degree preferred.
  • Member of the American Academy of Actuaries.
  • 8+ years previous experience in experience analysis, pricing or valuation for one or multiple product lines.
  • Strong business background with ability to work closely with other finance areas and business areas for a product line.
  • Ability to manage, develop and motivate a staff, including ASA, Actuarial students and actuarial analysts.
  • Ability to make decisions and recommendations related to the valuation function directly to upper level finance management up to the Chief Actuary and CFO for Unum US.
  • Strong verbal and written communication skills, with acumen in both professional and business communications.
  • Previous experience working through periods of change.
  • Experience with Prophet a plus.


Unum and Colonial Life are part of Unum Group, a Fortune 500 company and leading provider of employee benefits to companies worldwide. Headquartered in Chattanooga, TN, with international offices in Ireland, Poland and the UK, Unum also has significant operations in Portland, ME, and Baton Rouge, LA - plus over 35 US field offices. Colonial Life is headquartered in Columbia, SC, with over 40 field offices nationwide.

The base salary range for applicants for this position is listed below. Unless actual salary is indicated above in the job description, actual pay will be based on skill, geographical location and experience.


Additionally, Unum offers a portfolio of benefits and rewards that are competitive and comprehensive including healthcare benefits (health, vision, dental), insurance benefits (short & long-term disability), performance-based incentive plans, paid time off, and a 401(k) retirement plan with an employer match up to 5% and an additional 4.5% contribution whether you contribute to the plan or not. All benefits are subject to the terms and conditions of individual Plans.

Salary133,500.00 - 261,000.00 Annual
Job Type
Regular | Regular

Share this job