Michael Lesar Email & Phone Number

Cincinnati, Ohio, United States

Established statutory, GAAP, and tax valuation procedures for new product lines (term, whole life, universal life, and deferred annuities).Managed multiple conversions of valuation of blocks of business, including equity-indexed annuities, from spreadsheets or legacy systems to Polysystems valuation system on time and on budget.Developed financial projections and provided in-depth monthly actual vs. expected analysis of financial results.Advised corporate senior management regarding GAAP and risk-based capital strategies.Interpreted and developed approaches to new regulatory and accounting guidance, e.g. SOP 03-1 and FAS 157.Managed and reviewed or directly performed STAT/GAAP/TAX financial reporting for life insurance, variable annuities, equity-indexed annuities, and New York subsidiary with consistently successful accuracy and timeliness.Created automated reports to track agent level mortality and persistency.Responsible for Sarbanes-Oxley certifications on life insurance, variable annuities, and equity-indexed annuities.Analyzed and implemented proposed acquisitions and reinsurance deals.Appointed Actuary for several subsidiaries including one domiciled in New York.Managed staff of four including one FSA and one ASA.

* Directed actuarial aspects, including valuation, of policy administration for seven life insurance companies with total assets of $750+ million.* Integrated business from multiple acquired companies into single administrative system to increase efficiency and effectiveness.* Acquired wide range of product development experience in universal life, term, deferred annuities, and whole life, saving significant dollars in consulting fees.* Ensured existing and potential product offerings met or exceeded corporate profitability expectations.* Worked effectively with internal compliance staff to expedite approval for new product offerings from state insurance departments.

Served as Appointed

Assisted Product/Actuary in development and testing of new products for two companies.* Worked with Vice President, Actuary to accurately produce financial reports and perform valuations.

Bachelor Of Arts, Mathematics

Master Of Arts, Mathematics