Contact Bates Today
Bates Group is with you every step of the way. Contact us today for more information on how our End-to-End Solutions can help your firm.
Bates Group is with you every step of the way. Contact us today for more information on how our End-to-End Solutions can help your firm.
We’re looking for talent! Interested in a career at Bates Group? Visit our Careers page.
Mr. Zass is a Bates Consulting and Testifying Expert and the founder, principal, and engagement coordinator for the actuarial consulting firm Actuarial Risk Management, Ltd., which has served as the internal actuarial group to several tier 2 and 3 regional and national accounting firms, including BDO USA through its membership in the BDO Alliance since 2006.
Mr. Zass, a trained life insurance actuary, has leveraged his extensive knowledge gained during his early career as a life insurance company corporate actuary to the consulting space where he has for close to 20 years assisted various sized life insurers on financial reporting compliance, product management and corporate expansion. His various actuarial roles – from appointed actuary positions to consulting actuary to buy-side/sell-side M&A actuary to that of the auditing actuary under those accounting & audit engagements – collectively provide him with a wide perspective that few actuaries have accumulated over their careers. His responsibilities over the years covered the forecasting of life, annuity, and health insurance programs along with recommending efficient means of capital management. Mr. Zass has aided life insurers on corporate forecasting of core insurance business, which included discussions of financial risk management, ALM, capital management, interest rate risk, and asset adequacy testing. His insurance clients cover local and international organizations across the life insurance and health care sectors, which have included engagements for fraternal, mutual, and stock insurance companies acting in the capacity as direct carriers, reinsurers, and captives.
Mr. Zass has performed over 30 comprehensive M&A due diligence projects of target insurance blocks of business and/or companies while reviewing well over 100 appraisals. Mr. Zass has prepared and led the development of independent models that serve both sides of the M&A spectrum. He has also constructed PGAAP balance sheets and evaluated goodwill for impairment.
Mr. Zass’ past responsibilities cover the gamut of financial reporting related duties, include the preparing and reporting of statutory, GAAP/purchase-GAAP actuarial valuation reports, including the annual statement of actuarial opinion (SAO) and the supporting asset adequacy testing and supplemental memorandum.
His product knowledge stems from many years of developing several generations of products while leading the policy and rider forms state filing process as well as the administrative implementation of new products. The product experience includes participating and non-participating traditional life; UL and UL with secondary guarantees; deferred (fixed, indexed & variable) & immediate annuities; various supplemental health coverages such as LTC and disability income products. He has also drafted and been responsible for administration and valuation of reinsurance ceded and assumed treaties.
Over the last decade, Mr. Zass has advised many participants on the best practice of risk management within the broader insurance linked securities (ILS) market with a specific focus on longevity products, including life settlements and structured settlements. He co-development a stochastic longevity forecasting model used within ARM’s life settlement practice and has authored many articles on this space.
Bates Group LLC, Consulting and Testifying Expert, 2013 – Present
Actuarial Risk Management, Ltd., Founder, Principal and Consulting Actuary
Actuarial Risk Management, Inc., Vice President and Consulting Actuary
Actuarial Risk Consultants, Inc., President
Wise, Mitchell & Associates, Consulting Actuary
FIC Holding Company, Chief Actuary
Bachelor of Science (BS), Mathematics, University of Manitoba, Winnipeg, Manitoba, Canada
Society of Actuaries, Associate
A sample of the various projects completed during his consulting career include:
A sample of specific audit / valuation type engagements:
Mr. Zass’ experience in litigation includes the support on expert witness and arbitration engagements in the area of policy form interpretation, reinsurance treaty interpretations, product pricing and financial results of insurance carriers. Specific litigation focused assignments in which Mr. Zass served in a more prominent role are:
Mr. Zass has presented to various professionals, including:
American Academy of Actuaries certified
Fellow, Conference of Consulting Actuaries (CCA)
Member, American Academy of Actuaries (AAA)
Member, Actuaries Club of the Southwest (ACSW)
Member, American Academy of Actuaries’
Member, International Association of Actuarial Risk Managers (INARM)
Member, American Society of Healthcare Risk Management (ASHRM)
Member, American Association of Insurance Management Consultants (AAIMC)
