Chester R. Schneider, Vice President, ALM Services

Years of Experience: 32

Education

• S.B. in Mathematics with a Minor in Economics from the Massachusetts Institute of Technology
• Ph.D. in Mathematics: National Science Foundation Graduate Fellow, University of California, Berkeley.
• Visiting Member: Institute for Advanced Study, Princeton

Professional Certification and Accreditation

• Fellow, Society of Actuaries
• Member, American Academy of Actuaries
• Special Areas of Expertise
• Asset/Liability Modeling
• Asset Allocation Analysis
• Investment Management Performance Measurement

Publications

• “FASB’s Preliminary Views on Pension Accounting – An International Perspective.” Benefit News Analysis, Vol. 5, No. 6, 1983
• “Global Aspects of the Matrix Riccati Equation,” Mathematical Systems Theory, Vol. 7, 1973
• “Differentiable SL (2.R) Actions,” American Journal of Mathematics, Vol. 96, No. 4, 1972

Experience

• EFI Actuaries (1997 – Present): Vice President Asset/Liability Management Services; previously, Associate Director of Research
• Development of asset return simulation models.
• Michael Peskin Associates (1992 –1996): Vice President
• Asset allocation analyses and consulting for major pension funds based on asset liability modeling.
• Alexander Consulting Investment Services (1990 – 1992): Vice President
• Asset consulting services for clients of Alexander and Alexander on a nationwide basis, including asset allocation studies and investment manager performance measurement and selection for both defined benefit and defined contribution plans.
• Towers Perrin Asset Consulting Services (1985 – 1989): Principal and Director of Research
• Pension forecasting and asset consulting services for major corporations; developed models for the evaluation of static and dynamic allocation strategies (portfolio insurance, surplus insurance, CPPI, etc.); developed an innovative model for the joint simulation of interest rates, inflation and asset returns that is used for pension and insurance applications.
• George B. Buck Consulting Actuaries, Inc. (1978 – 1985): International Benefit Consultant
• Actuarial and employee benefit consulting services for U.S. multinationals with respect to their foreign operations. Assignments included assistance with foreign acquisitions, valuation of foreign pension and termination indemnity liabilities on statutory and realistic bases, and design of life, disability and health insurance programs.
• Kwasha Lipton (1974 – 1978): Actuary
• Valuation of domestic and international pension plans, foreign and U.S. individual tax analyses, benefit studies, etc.
• During the last 10 years, Mr. Schneider has been involved with special outside activities involving development of models for evaluating investment based insurance risks, including Variable Annuity Minimum Death and Living Benefits and related products as well as development of alternative hedging strategies and pricing of reinsurance for these risks.

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