Faye Albert                                                                                                                        FayeAlbert@AlbertAssociates.org EDUCATION AND PROFESSIONAL DESIGNATIONS F.S.A., Fellow of the Society of Actuaries, 1972 F.C.A., Fellow of the Conference of Consulting Actuaries, 1989 M.A.A.A., Member of the American Academy of Actuaries, 1972 MBA, University of Miami, 1987 BA, University of Michigan, 1964 EXPERIENCE   Insurance Company Management    Managed all actuarial functions for several life insurance companies and a property and casualty insurance company.  Scope of assignments included new product development, all financial reports, experience analysis and recommendations to improve profitability.   Consulting        Litigation Support Expert for Receiver of  Life Insurance Company Dispute involving the two actuaries engaged by an insolvent life insurer and their work in establishing  reserves for a block of annuities. Expert for Plaintiff regarding premiums charged for non-guaranteed universal life insurance coverage. Expert for Defendant in determining the equitable distribution of assets   divorce   estates   workers compensation Insurance Consulting Establish profitability of existing block of viatical contracts. Developed life insurance products for preferred lives, highly impaired lives, markets with limited underwriting  and for the senior market. Researched relationship between insurance company lapse rates and mortality. Designed health insurance products, including benefit design and pricing, review of experience, setting liabilities,  for companies serving both the domestic individual and small group health market. Monitored results and provided actuarial support for a self-insured medical trust. Interfaced with State Insurance Departments in the and life insurance companies to gain product approval. Filed for authority to provide limited insurance benefits in association with emergency medical transportation Established GAAP actuarial assets and liabilities for a life insurance company in connection with their public offering. Provided actuarial support for continuing care retirement communities by anticipating populations in various care levels, projecting operational cash flows, and establishing pricing for community residents. Developed a technique to anticipate bond defaults based on the probability of default by class and the probability of transition from the initial rating class to other rating classes. Professional Contributions Service Chairman Joint Committee Society of Actuaries and American Academy of Actuaries reviewing Preferred Interim 2001 CSO Mortality, 2006 Chairman 2001 CSO Mortality Committee for American Academy of Actuaries, 2000-02 Board of Governors of Society of Actuaries, 2001-2003 Panelist for Society of Actuaries 1993, 1994, 1996,1997, 2001, 2002, 2005, 2006 Panelist for Conference of Consulting Actuaries 1993, 1994, 1996, 1997, 2001 Planning Committee for Society of actuaries, 1992-1994, 1996-1997 Society of Actuaries Committee on Life Research, 1993-1998 Liaison with Mexico for joint mortality research among US, Canada and Mexico, 1996-1997 Society of Actuaries Education and Examination Committee, 1973-1979; member, multiple-choice editor, vice chairman, and chairman of the Part 5 Committee Society of Actuaries Education Committee General Officer 1980, 1981 Conference of Consulting Actuaries, 1995-1998, including service as a Board Member and Vice-President Chicago Actuarial Club, 1975-1980, including President Publications Report of the Task Force on Insurer Insolvency in the United States, August, 1992, co-author as part of the task force, CCA Survey of Life Insurance Company Insolvencies   North American Actuarial Journal, Albert, F., Bragg, J., Bragg, D., “Mortality Rates as a Function of Lapse Rates,” October, 1997 Society of Actuaries Research Report, May, 1996, Albert, F., and Johnson, P., “Life Insurance companies Investing in High-Yield bonds,” Merrill Lynch EXTRA Credit, Albert, F., “Performance of Life Insurance Companies Investing in High Yield Bonds,” September/October, 1995 Transactions of the Society of Actuaries, 1989, Vanderhoof, I.T., Albert, F., Tenenbein, A., and Verni, R., “Report of Society of Actuaries C-1 Risk Task Force of Committee on Valuation and Related Areas” North American Actuarial Journal, 1999, Albert, F., Lord, G., Papageorgiou, P., Vanderhoof, I.T., and Wissner, L., “Low Discrepancy Sequences for Numerical Valuation of Financial Models”