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Associate Actuary, Annuity Products
Location: Des Moines, IA
Education Requirements: Bachelor's degree is required in mathematics, actuarial science or related degree.
Other Requirements: Include:
- ASA and MAAA are required.
- 4+years actuarial experience.
- Strong technical, analytical, organizational, computer, and team skills.
- Pricing and annuity knowledge preferred.
- Knowledge of Axis or closely related actuarial/pricing software is preferred.
- Self-starter who demonstrates strong initiative and displays a high energy level.
- Strong problem-solving skills that include advanced analytical and reasoning abilities.
- Ability to establish and maintain strong internal relationships within the company.
- Team player who can function as a key member of a small group in which members of the team work with great autonomy and take a high degree of ownership for their areas of responsibility.
- Business acumen to gain credibility within the organization.
- Knowledge of Microsoft Office applications (Word, Excel, PowerPoint, Access).
- Team-building skills, with the ability to mentor actuarial students.
Salary Range: Negotiable DOE
Description: This job’s primary responsibility is to support the design, development, modeling, management, and implementation of Fixed Indexed Annuity products for our Client. This job reports to the Annuity Pricing Actuary. There will be significant interactions with the Sales & Marketing, Valuation, Investment and Modeling departments. The job’s primary responsibility, in addition to supporting design, development, modeling, management, and implementation of Fixed Indexed Annuity products, is to support the pricing and risk analysis of the Fixed Indexed Annuity products. The job supports discussions on new product designs; developing and maintaining profitability models, analyzing results, and any changes to the product lines of business that need to be implemented for the best interest of the company. This job has visibility into state filings and inforce management of the annuity product line. This job encourages and supports the advancement to FSA. Responsibilities include working with and mentoring a small team of internal and external actuarial staff members. Job duties and responsibilities also include:
- Determination of Product Features and Rates:
- Perform pricing exercises in accordance with established pricing guidelines and profitability targets for all Annuity products, with a focus on equity index products.
- Work closely with the investments on pricing and implementation of appropriate investment strategies for new business.
- Monthly re-pricing and new business analysis of all current retail annuity products.
- Evaluate New Business in a risk adjusted framework.
- Product Development:
- Provide analysis for the Product Development team on feasibility of product ideas.
- Provide Valuation and Non-Forfeiture Law expertise for Fixed Indexed Annuity products.
- Recommend design and contract language changes along with investment and compensation practices.
- Support the preparation of annuity pricing-related Product Specifications and Pricing Report documents.
- Support, implement, maintain and review pricing models in Axis.
- Create and maintain documentation of all work following group standards.
- Provide support to other business units, including pricing, investments, compliance, risk management and policyholder services, on an as needed basis.
- Sales Illustrations:
- Validate and review annuity products in calculators and the Illustration systems.
- Inforce Management:
- Supporting product implementation and inforce management of the Annuity Products.