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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.
Senior Annuity Pricing Actuary
Location: West Des Moines, IA
Education Requirements: Bachelor’s degree (B.A. or B.S.) from four-year college or university.
Other Requirements: Include:
- FSA. or ASA. and MAAA.
- 10+ years Actuarial experience, including a minimum 4 years of Actuarial product development-related experience and/or training.
- Background in fixed indexed annuities and/or fixed deferred annuities preferred.
- Intermediate skills in Microsoft Office required (Word, Excel and Access).
- Intermediate programming skills required (for example VBA/C/C++ or similar).
- MG-ALFA experience preferred, or at a minimum, related experience with retail Actuarial modeling software (e.g. Prophet/GGY Axis/MoSes).
- General knowledge of US Statutory and US GAAP reporting standards.
- Comprehend and apply principles of advanced mathematical concepts and theory.
- Ability to read, analyze, and interpret technical journals, financial reports, and legal documents from regulatory agencies, and other members of the business community.
- Ability to write speeches and articles for publication that conform to prescribed style and format.
- Ability to effectively present information to management and senior leadership.
- Define problems, collect data, establish facts, and draw valid conclusions.
- Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.
- Ability to work overtime as required.
- Work cooperatively and successfully with co-employees, customers, and potentially other outside third parties.
- Ability to successfully handle pressure and meet deadlines in a fast-paced work environment.
- Ability to multi-task and switch back and forth between projects as needed.
- Interaction with Chief Actuary and Chief Compliance Officer required.
Salary Range: Negotiable $120k to $160k
Description: Highly rated Life & Annuity Insurance Group seeks an experienced Annuity Pricing Actuary to join their team. Individual will be responsible for performing product development, pricing, and product implementation initiatives including: preparation and/or review of actuarial documents for product filings, contract language review, construction and validation of pricing models, and communication of actuarial items necessary for product implementation. Position reports to Vice President, Product Actuary. Position has supervisory responsibilities with 1 or more employees. Responsibilities include mentoring/professional development of Actuarial Student(s) in accordance with goals of Actuarial Student program. Job duties and responsibilities include:
- Develops filing documents.
- Provides actuarial support for product implementation projects.
- Validates illustration software.
- Modifies/validates Actuarial pricing models.
- Constructs/reviews/communicates pricing information.
- Validates administrative system calculations.
- Performs special projects/other duties as assigned.
Actuary & Supervisor, Life Product Development
Education Requirements: Bachelor’s degree or better in Actuarial Science or related field.
Other Requirements: Include:
- 7 years related work experience.
- Inspires teammates to follow them.
- Considered a thought leader on a subject.
- Capable of carrying out a given task with all details necessary to get the task done well.
Salary Range: Negotiable
Description: Our Client seeks an Actuary to supervise the actuarial product development processes. Successful candidate will have strong project management, organizational, technical and communication skills as well as the ability to train and supervise staff and establish priorities. This role will assist the Chief Actuary in developing our Client's actuarial policies and procedures relating to product development and in defining department priorities and resource allocations. Coordinate functions responsible for product development. Provide guidance and advice regarding actuarial matters of a corporate or product nature. Job duties and responsibilities include:
- Supervise the use of product development models to analyze and project our Client's financial results based on product design.
- Assist with planning, organizing, controlling, coordinating and supervising of departmental methods and procedures. Work with Corporate Actuarial area to ensure new product implementation is coordinated with valuation and model development.
- Train, motivate, maintain discipline, resolve problems and assist the Chief Actuary in determining performance, promotion, transfer, or dismissal.
- Provide guidance and interpretation to department staff and other Home Office staff on actuarial theories, methods, and practices relating to product development.
- Analyze competitive information necessary to maintain an awareness of new product designs available in the industry and our Client's standing in the marketplace.
- Supervise the development of pricing assumptions using experience studies and recommend modifications for products being priced.
- Develop and distribute certificate rates and values to appropriate systems and administrative procedures.
- Assist in design and submission of various illustration and annual statement formats related to new product development.
- Respond to various legislation and the impact on our Client's products, values, and projections.
- Assist in the review and recommendation of various administrative rules necessary to maintain profitability of the products developed.
- Support product filings with preparation of actuarial memorandums.
- Supervise the design and writing of actuarial programs and subroutines for use in actuarial research projects or other areas requiring actuarial input as it related to product design.
- Supervise the preparation of expense and investment income allocations to the lines of business.
- Supervise the reinsurance process as related to product design, pricing, and underwriting and reinsurance retention limits.
- Supervise the determination of various levels of surplus allocation and distribution required for our Client.