Tyler Gates
Charlotte,NC
Summary
Leader and U.S. qualified actuary (FSA, CERA, MAAA) with a background in U.S. Life and Annuity statutory valuation. At Brighthouse Financial, served as the Appointed Actuary for all companies, reviewing statutory reserve adequacy through the lens of both risk management and regulatory compliance. Proven ability to collaborate on complex projects including the actuarial model conversions for valuation, cashflow testing, and ALM use cases from legacy platforms to Prophet.
Overview
13
13
years of professional experience
1
1
Certification
Work History
Appointed Actuary & Leader of Actuarial Projection
Brighthouse Financial
05.2021 - 03.2025
- Managed a team of 14 actuaries and oversaw all aspects of asset adequacy testing and liability side of ALM including assumptions, cash-flow projection models, scenario development, and externally projected asset data. Review of statutory reserves against NAIC valuation requirements, including SVL, CRVM, CARVM, Regulation XXX, VM-20, VM-21, etc.
- Submission of various actuarial filings including the VM-30 Actuarial Opinion, VM-30 Memoranda, AG35 (FIA)/AG36 (IUL) Certifications, Surveys, RAAIS, and X-Factor Opinion.
- Partner with areas both in and outside of actuarial to assess key risks relevant to the Actuarial Opinion on reserves required under VM-30 and Section 3 of the NAIC SVL, including securities lending, off balance sheet risks, reinsurance (ASOP 11), currency exchange risk, complex asset risk (AG53), etc.
- Served as actuarial lead for the coordinated regulatory examination of the company's statutory financial statements, with a focus on asset adequacy testing requests.
- Served as a lead valuation actuary for the GA-ALM Working group, Hedging Working Group for the company's XXX captive reinsurer, and Assumption Governance Working Group.
- Partnered with investment area to refine ALM analytics through consideration of cash flows and assumption sensitivities in addition to effective duration.
- Performed detailed analysis of cashflow testing and ALM projections for a wide breadth of life and annuity products across the company, including Term, Whole Life, Universal Life with Secondary Guarantees, Variable Universal Life, IUL, Income Annuities, Funding Agreements, Fixed Indexed Annuities ("FIA"), Multi-year Guaranteed Annuities, RILAs, Variable Annuities, etc. through comparison of cash flows to formula reserves.
- Quarterly reporting and analysis of liability GA-ALM metrics against investment portfolios for all product lines listed above.
- Apply asset adequacy testing as a risk management tool instead of just a regulatory exercise. Contributions included portfolio positioning relative to liabilities, derivative optimization, quantification of reinsurance impacts, and identification of mortality and lapse risks by product line.
Director & Actuary - Life Valuation
Brighthouse Financial
02.2017 - 05.2021
- Managed a team of 3 actuarial students and responsible for various aspects of U.S. statutory valuation for legacy A&H products, IUL, Term, and Whole Life products in addition to deliverables for U.S. GAAP and policyholder dividend scales.
- Validated and documented the valuation model migration from PolySystems to Prophet for Term and Whole Life products.
- Completed the quarterly and annual reporting of VM-20 reserves including annual statement exhibits, footnotes, surveys, etc. for products in scope. Provided walkthrough of control execution with auditors.
- Development of the U.S. statutory valuation model from first principles for the company's new hybrid index-linked life insurance product with long-term care riders in Prophet, including Net Premium Reserve ("NPR"), Deterministic Reserve ("DR"), and Stochastic Reserve ("SR") components of VM-20. Wrote first version of the VM-31 actuarial memorandum for this product type.
Senior Actuarial Associate - Life Valuation
Metlife
08.2014 - 01.2017
- Reported UL and ULSG U.S. statutory reserve entries calculated under the requirements of UL-CRVM and AXXX for the monthly, quarterly, and annual financial close processes, including statutory filings, footnotes, surveys, exhibits, tax audits, etc.
- Implemented valuation model refinements including NY's requirements for AXXX (under NY Reg 147) and conducted single cell audits of reserve re-calculations against policy forms.
Actuarial Associate - Retail Annuity Finance
Metlife
06.2012 - 07.2014
- Prepared and analyzed U.S. GAAP earnings projections for variable annuities and other retail annuity products.
Education
Bachelor of Science - Actuarial Science
University of Central Florida
Orlando, FL05-2012
Skills
- US Life & Annuity Statutory Valuation
- Actuarial Modeling in Prophet and PolySystems
- Presentation of Results to Senior Management
- Asset and Liability Management (ALM)
Certification
Fellow of the Society of Actuaries (FSA), Individual Life and Annuities (ILA) Track
Member of the American Academy of Actuaries (MAAA)
Chartered Enterprise Risk Analyst (CERA)
Timeline
Appointed Actuary & Leader of Actuarial Projection
Brighthouse Financial
05.2021 - 03.2025
Director & Actuary - Life Valuation
Brighthouse Financial
02.2017 - 05.2021
Senior Actuarial Associate - Life Valuation
Metlife
08.2014 - 01.2017
Actuarial Associate - Retail Annuity Finance
Metlife
06.2012 - 07.2014
Bachelor of Science - Actuarial Science
University of Central Florida
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