Challenge: The client needed to consolidate their DAC calculation for fixed and variable annuities. Their current process involved running many macros and linked spreadsheets. The fixed and variable spreadsheet processes were very different.
Solution: Salt Solutions delivered a custom-configured, role-focused relational database system to replace the existing spreadsheet process. The solution provided the client with the sophisticated formula calculations to reproduce or improve upon their DAC calculation. Input data was provided from modeling, accounting, and experience studies. Different roles are assigned based upon administrative, read/write, or read-only access.
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Information for Ordering Textbooks and Study Manuals Distributors of Textbooks and Study Manuals. The Society of Actuaries provides this information as a convenience to its candidates. None of these services are sponsored or endorsed by the Society. Coaching Actuaries-Exam P. Study Manual: Coaching Actuaries ADAPT + Manual Another great option for Exam FM is the Coaching Actuaries ADAPT + Manual option. ADAPT is very similar to GOAL, which is included with the ASM manual that I talked about above. It gives you hundreds of practice problems, rated by difficulty level, so that you can gradually work on harder. Oct 01, 2018 I bought the ASM study manual once it came out in mid-August and skimmed through it. The ASM study manual was a good quick reference guide, especially bc of the summary of relevant formulas at the end of each section. Overall, I probably spent 75-100 hours learning the material (60% RMAFA, 30% ASM, 10% ISLR). Good news is Coaching Actuaries.
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Results: The back end modeling process is currently in the final stages of development for the client. We estimate that the processing time will be reduced to 1/3 or 1/2 of the previous processing time. Controls are being implemented to meet SOX compliance. The fixed and variable formulas are now in sync and combined. Staff transition has begun with new actuaries replacing the actuaries that were involved in the initial implementation. The new platform provides a systematic and structured process for new staff to be trained.