Tax Actuary

Brighthouse Financial

Date: Sep 23, 2022
City: Charlotte, NC
Contract type: Full time
Brighthouse Financial
Tax Actuary

Req ID: 4201

Where you’ll work:
Our hybrid workplace model offers the freedom to work fully remote or occasionally in one of our offices. This is a remote position with a hybrid option for candidates based in Charlotte, NC.

How you’ll contribute:
The Tax Actuary is a member of the Tax leadership team and will be primarily responsible for ensuring that the actuarial components of the Company’s tax calculations are consistent with federal tax law and that its products meet actuarial-related tax requirements to maintain the intended tax treatment for its policyholders and the Company. This position will also provide actuarial expertise to Legal and HR regarding employee benefit plans. This position will report to the Head of Tax.

In this role, you’ll get to:
  • Ensure that the actuarial components of the Company’s federal tax calculations in interim and annual GAAP and STAT tax provisions and annual tax returns are consistent with federal law. This includes responsibility for analyzing the actuarial aspects of current and newly issued tax law, regulations, and rulings, and developing and implementing approaches for creating tax efficiencies associated with reserves, tax DAC, proration, and reinsurance elements.
  • Review tax reserve calculations performed outside of the tax department and perform tax reserve trend analyses, identify changes in basis for computing tax reserves and confirm the impact of such changes, and monitor SSAP 101 reversals relating to tax reserves.
  • Support maintenance of highly effective control environment with respect to tax actuarial matters in accordance with Sarbanes-Oxley including but not limited to control documentation and execution of controls
  • Monitor state regulatory developments with an impact on actuarial-related tax issues (e.g., the introduction of principle-based reserving for fixed annuity products, adoption of VM-22). Develop positions for tax reserves and other actuarial-related tax items affected by such developments.
  • Ensure appropriate consideration of tax actuarial components of internal management reporting and after-tax revenue planning and projections, and any non-tax department actuarial processes with respect to which taxes could have a meaningful impact (e.g., asset/liability matching and cash flow testing)
  • Support federal and state tax audit processes through maintenance of audit ready documentation, preparation and review of responses to information documentation requests, and other appropriate tasks, as needed
  • Provide advice with respect to the actuarial tax-related elements for investment opportunities, reinsurance transactions, and other opportunities/transactions, as needed
  • Partner with the Product, Operations and Tax Legal teams to understand the company and policyholder tax implications of proposed products and product enhancements/updates to assure compliance with tax law requirements, maximize deductibility of reserves to the company and optimize the benefits to policyholders.
  • Review outside actuarial analyses of the Company’s qualified and other employee benefit plans and provide plan sponsor input on assumptions. Partner with Tax Legal, HR, and vendors regarding actuarial issues relating to plan changes, funding, participant requests and communications.
  • Actively participate in industry groups (e.g., ACLI)
  • Supervise, coach, and develop staff with respect to tax actuarial matters
  • Support other ad-hoc projects, as needed
We’re looking for people who have:
  • Bachelor’s Degree in mathematics, statistics or actuarial science
  • Experience/Designations
  • Minimum designation as Associate of the Society of Actuaries
  • Minimum 12+ years of actuarial experience in the life insurance industry or in an actuarial firm working with life insurance companies
  • Experience with regulatory, financial reporting, and actuarial valuation for life insurance and annuities
  • Exposure to corporate or policyholder tax work
  • Excellent written and oral communication skills; ability to communicate actuarial-related tax concepts to clients with various backgrounds and knowledge levels
  • Strong organizational and time management skills
  • Comfortable with assignments involving independent research
  • Broad actuarial experience with reserves, pricing and product development
  • Strong analytical skills, including ability to perform analysis to answer senior management’s what-if questions and scenarios
  • Ability to research and analyze tax technical questions and familiarity with tax authorities
Preferred Requirements:
  • 3-5 years of experience with tax-related actuarial issues affecting life insurance companies and products
  • Member of the American Academy of Actuaries, or MAAA eligible
  • Designation as Fellow of the Society of Actuaries
  • Familiarity with IRC Subchapter L, Sections 72, 7702 and 7702A of the tax code
Research shows some people may not apply for a role if they don’t check all the boxes of a job description. If you don’t check every box listed, that’s okay. We would love to hear from you.

What you’ll receive:
  • Compensation – Base salary ranging from $180,000-$210,000 plus competitive performance-based incentives determined by company and individual results
  • Flexible Work Environment – Work fully remote or occasionally in the office to better thrive in all areas of life
  • Paid Time Off – Recharge with a minimum of 20 days of paid time off and 16 paid company holidays per calendar year plus paid volunteer time and paid study time
  • Financial Health – Work toward achieving your financial goals through our 401(k) savings plan with company match (up to 6%) and annual company nondiscretionary contribution (3%), 15% employee stock purchase plan discount, and financial counseling services
  • Health and Wellness – Enjoy competitive medical, vision, and dental plans plus tax-free health savings accounts with potential company contributions up to $1,000 per family
  • Family Support – Care for loved ones with up to 16 weeks of paid leave for new parents, back-up dependent care, dependent care flexible spending account, and reimbursement up to a $25,000 lifetime maximum during your adoption, infertility, or surrogacy journey
  • Life and Disability Support – Gain access to company-paid basic life insurance and short-term disability insurance
The company and your department may occasionally gather in person throughout the year to foster a culture of belonging and promote team building. We’d love for you to join us during those company-wide and department-wide events to help you strengthen connections across the company.

Why join us?
Brighthouse Financial is on a mission to help people achieve financial security. Our company is one of the largest providers of annuities and life insurance in the U.S.,* and we specialize in products designed to help people protect what they’ve earned and ensure it lasts.

We empower employees to collaborate and create space for people to bring their passion to work and make an impact. Our inclusive work environment fosters a culture that celebrates diverse backgrounds and experiences. You can find out more about our company culture by visiting

We’re proud to be a FORTUNE 500 company** and recognized as one of Charlotte’s Healthiest Employers by the Charlotte Business Journal. We’re also honored to be named to Newsweek’s inaugural list of America’s Most Trusted Companies.

*Ranked by 2020 admitted assets. Best’s Review: Top 200 U.S. Life/Health Insurers. A.M. Best, 2021.
**From FORTUNE 2022 Fortune Media IP Limited. All rights reserved. Used under license. FORTUNE and FORTUNE 500 are registered trademarks of Fortune Media IP Limited and are used under license. FORTUNE and Fortune Media IP Limited are not affiliated with, and do not endorse the products or services of, Brighthouse Financial.

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