Brad joins AAC from Oliver Wyman, where he led several AXIS implementations, promoted modeling best practices across the firm, and wrote articles for Oliver Wyman publications promoting new AXIS functionality.
Brad is a Senior Consulting Actuary at August Actuarial Consulting (AAC) with 18 years of experience in the insurance industry.
Brad joins AAC from Oliver Wyman, where he led several AXIS implementations, promoted modeling best practices across the firm, and wrote articles for Oliver Wyman publications promoting new AXIS functionality. His recent consulting experience includes:
- Implemented US GAAP valuation for Cayman and Bermuda-based reinsurers.
- Built US GAAP valuation model (FAS 133, SOP 03-1, DAC/EGP) for indexed annuity with guaranteed minimum withdrawal benefit rider
- Built fixed annuity valuation model used for US GAAP (FAS 97 and DAC/EGP) and Bermuda technical provisions.
- Recommended US GAAP methodology decisions consistent with industry standard and supported within AXIS.
- Developed model roll-forward process that allowed the client to produce current period valuation using in-force data provided by the cedant one quarter in arrears.
- Designed Excel-based FAS 133 host accrual rate unlocking tool to integrate with the AXIS valuation model.
- Built Excel tool to replicate AXIS FAS 133 host and embedded derivative calculation.
- Educated new AXIS users on best practices and usage principles.
- Built traditional life AXIS model to support US GAAP Long Duration Targeted Improvements (LDTI), US statutory reserves, and cash flow testing.
- Recommended model architecture and design principles to fulfill the client’s transparency and flexibility needs.
- Implemented LDTI methodology decisions consistent with client’s accounting policy and fully supported by AXIS.
- Designed assumption assignment process using new AXIS Basis Reference Technique functionality.
- Implemented end-to-end LDTI reporting process with US GAAP Link modules.
- Converted statutory reserves from existing PolySystems models and reconciled calculated values within client tolerance.
- Enhanced universal life model to enable valuation process modernization.
- Created a new batch structure that eliminated unnecessary manual steps during the principles-based reserve (PBR) valuation process.
- Implemented a large reinsurance treaty dependent upon new AXIS functionality which allowed the client to eliminate an inefficient manual adjustment to cash flow testing results.
- Updated model to use new cash flow testing and US GAAP valuation assumptions.
- Quantified and remediated pre-existing model errors and simplifications.
- Organized learning sessions to promote AXIS best practices across the client’s model development team.
Prior to his time at Oliver Wyman, Brad spent six years at GGY and Moody’s Analytics in client support and relationship development roles. Brad was instrumental in development efforts related to recent financial reporting initiatives, playing a key role in the design and rollout of the US GAAP Link modules and life PBR functionality.
Brad began his actuarial career at Investors Heritage Life after receiving an Economics degree from Centre College. During his nine years at Investors Heritage, he supported all actuarial functions including pricing, valuation, and projections.
Brad has a longstanding reputation for developing practical and innovative solutions to complex actuarial issues. His unique blend of industry, software, and consulting experience has equipped him with a deep understanding of the operating environment of industry giants as well as the resource challenges faced by the smallest companies, resulting in the ability to approach problems from a variety of perspectives.