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Actuarial Associate, Annuity Product Management
Location: West Des Moines, IA
Education Requirements: Bachelor's degree, preferably in the area of mathematics, or a business related field.
Other Requirements: Include:
- ASA preferred, will consider near ASA if actively pursuing.
- Prefer at least 4 to 6 years of experience in the field of Actuarial Science.
- Ideal candidate would have some annuity product background.
- Demonstrate a high level of mathematical ability and attention to detail and strong analytical skills.
- Demonstrate strong computer skills including proficiency in the use of applicable technical tools.
- Demonstrate strong written and verbal communication skills including ability to present technical information to actuarial audiences.
- Possess solid understanding of insurance industry.
- Ability to identify and analyze problems or questions and provide recommendations to appropriate audiences.
- Ability to work both individually and as part of a team.
- Highly organized with the demonstrated ability to manage multiple projects and to switch priorities as necessary.
- Ability to work effectively in an office environment.
- Criminal background check required.
Salary Range: $90k to $115k
Description: The Actuarial Associate, Annuity Product Management will be responsible for effectively and efficiently performing actuarial processes related to this role. This may include modeling, data analytics, product development, and/or financial reporting for our Client’s products. This individual will understand our Client and the business unit’s financial goals and objectives. Analyze, summarize and present management information. Provide technical guidance to others and lead projects as directed. Duties and responsibilities include:
- Develop strong knowledge of our Client’s products related to area of focus. Understand customer value propositions. Understand new products and make recommendations regarding how to incorporate into existing models and/or actuarial processes.
- Apply good knowledge of insurance contracts and actuarial related regulations to perform existing actuarial processes. Prepare materials required to comply with applicable regulations.
- Develop and apply assumptions required for actuarial calculations and modeling. Interpret internal and external data available to make and justify recommendations for individual assumptions for review by management. Use actuarial models to understand and explain the impact of a change in assumptions. Document assumptions and sources of data used.
- Create, understand and interpret complex financial models which may include models for reporting of assets, liabilities, solvency and profitability measures, product pricing and financial projections. Assist in choosing the appropriate modeling approach, following best practices, and using the right tools and methods to maximize efficiency. Perform analysis and assist in explaining the results of both deterministic and stochastic projections. Ensure proper governance, peer review and documentation is completed.
- Build good knowledge of accounting standards and other reporting requirements covering insurance liabilities and the assets backing liabilities. Understand, analyze and explain financial reporting as needed, including balance sheets and income statements produced by actuarial models.
- Create and apply spreadsheets, databases and other data analytic software as needed to perform data analysis efficiently. Summarize, manipulate, transform and aggregate data. Present aggregated data verbally, numerically, graphically or in another written format to highlight key features. Perform checks to confirm the robustness of the data and analysis.
- Understand concepts of relevant actuarial risks and the implications of failing to manage risk. Quantify risk exposure and use model projections to produce management information to measure and to monitor on-going exposure. Summarize and present analysis to appropriate actuarial leaders. Assist in developing risk mitigation techniques.
- Assist and/or lead special projects as required. Work individually and/or in teams to complete projects on time and with high quality. Effectively plan and prioritize your own work in accordance with broader team or department objectives and priorities.
- Develop relationships and collaborate with other departments and business units. Communicate effectively with other actuarial teams to ensure consistency in modeling approaches and assumptions across actuarial functions.
- Participate in the Society of Actuaries’ examination program with a satisfactory pass record per our Client’s actuarial study program guidelines.