Actuarial Associate, Annuity Product Management

Exceptional opportunity for Actuarial Associate to join our A+ rated life insurance and annuity Client. Above all, this actuarial job will focus on annuity product management. Hence, duties will include in force data and management analytics. As a result, Actuarial Associate will provide input to management decisions. Job requires ASA or near ASA with 4 to 6 years of relevant experience. Most noteworthy, our Client represents a history of strength and longevity. Salary range is $90-$115k with comprehensive benefit package. Location: West Des Moines, Iowa. Apply now for this Actuarial Associate, Annuity Product Management Job 2832.

The Essential Functions

First, this Actuarial Associate role handles inforce data and management analytics to support management decisions.  Second, will support meetings with key stakeholders.  Moreover, performs Yield Attribution and Fund Management review and analysis. Also, does Assumption Impact analysis. This includes profitability impacts, potential product design changes, and model change needs.  Also, role focuses on Deck creation. Finally, Actuarial Associates focuses on presentation to key stakeholders.

Recurring Projects

  • ARC Assumption Impact Testing;
  • RGA Scenario Analysis
  • Recommendations for Annuity Product models;
  • Demographic studies and recommendations for assumptions;
  • Product Risk Monitoring (aka leading/lagging indicators)
  • Spread Compression reporting

Primary software used:

  • ALFA, Excel, PowerPoint, data analytic tool (in near future)

Works with External teams on Experience Studies, Model Production, and Financial Analysis

  • First of all, provide technical guidance to others and lead projects as directed.
  • Furthermore, develop strong knowledge of Companies’ products. Understand customer value propositions and new products. 
  • Also, apply good knowledge of insurance contracts and actuarial related regulations. Prepare compliant materials.
  • Develop and apply assumptions required for actuarial calculations and modeling. Interpret available data to justify recommendations to management for individual assumptions. Also, use actuarial models to understand and explain the impact of a change in assumptions. Document assumptions and sources of data used.
  • Also, create, understand and interpret complex financial models.  Assist in choosing the appropriate modeling approach, following best practices.  Furthermore, perform analysis. Assist in explaining the results of both deterministic and stochastic projections. Ensure proper governance, peer review and documentation is complete.
  • In addition, build knowledge of accounting standards and other reporting requirements. Hence,understand insurance liabilities and the assets backing liabilities. Also, understand, analyze and explain financial reporting as needed. This includes balance sheets and income statements produced by actuarial models.
  • Furthermore, create and apply spreadsheets, databases and other data analytic software. Also, perform data analysis. Summarize, manipulate, transform and aggregate data. Present aggregated data to highlight key features. Finally, perform checks to confirm the robustness of the data and analysis.
  • Even more, understand concepts of actuarial risks and the implications of failing to manage risk. Quantify risk exposure. Use model projections to produce management information. Measure and track on-going exposure. Summarize and present analysis to appropriate actuarial leaders. Finally, assist in developing risk mitigation techniques.
  • Finally, develop relationships and collaborate with other departments and business units. Communicate with other actuarial teams to ensure consistency in modeling approaches and assumptions.

Required Education and Experience

  • Must have a Bachelor’s degree.
  • ASA designation preferred. Will consider near ASA.
  • Prefer at least 4-6 years of experience in the field of Actuarial Science.
  • Experience in MS Excel, PowerPoint, MG-ALFA, and SQL is ideal.
  • Take part in the Society of Actuaries’ examination program. Follow actuarial study program guidelines.
  • Show strong written and verbal communication skills. Ability to present technical information to actuarial audiences.
  • Proven strong computer skills including skill in the use of applicable technical tools.
  • Show strong written and verbal communication skills. Ability to present technical information to actuarial audiences.
  • Moreover, have solid understanding of insurance industry.
  • Ability to identify and analyze problems or questions. Furthermore, provide recommendations to appropriate audiences.
  • Ability to work on own and as part of a team.
  • ·Finally, organized with the demonstrated ability to manage many projects. Furthermore, able to switch priorities as necessary.
  • Criminal background check required.

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