How does this role benefit the work of the organization and the profession?
Volunteers on the Joint SOA and American Academy Valuation Basic Table (VBT) Team work with regulators to support the SOA, actuaries and policyholders through their work to review and develop appropriate mortality reserving tables for individual life policies.
Responsibilities & Duties
Volunteers on the Joint SOA and American Academy Valuation Basic Table (VBT) Team are responsible for reviewing the appropriateness of the current VBT and for developing a recommendation for a new VBT. Members of the team will review the most recent experience data against the current VBT using a variety of tools including Excel, Tableau, R, SQL or other modeling software. Members will be responsible for documenting their work and any new table recommendation in a report to regulators.
Time Commitment
Time Commitment - Description
Team members are expected to actively participate by attending one-hour conference calls that will occur at varying frequencies and to complete independent action assignments in a timely manner. Time commitment will peak during a table development phase, where calls may occur as often a bi-weekly and action assignments will increase. There will also be periods of little activity, such as when the team is waiting for data to be processed. To preserve continuity, it is desirable for a volunteer to able to participate on the team through at least one table development phase. Because it is currently unknown when the next new table phase will begin and because the length of the table development phase can vary between 1-3 years, the end of the next table development phase may occur as far out as 2-4 years from today.
Experience Required
- Member, Non-Member or Candidate
Opportunity Location
Non-Country Specific
Travel Required
None
SOA Training Required
None
Primary Area of Practice
Life
Specializations
Open to all