Actuary, Innovation

Join leading company in Actuary, Innovation job. Above all, Actuary will provide technical assessment of new product features and benefits within a defined set of constraints for product profitability and risk metrics. Furthermore, will do analysis of competitor product features and rate actions within the Fixed Indexed Annuity industry as well as within the broader retirement industry. Ideal Actuary, Innovation, Candidate will have an understanding of MG-ALFA and have product focus experience. Will need to be self-directed and a self starter. Iowa location. Yet, Client is open to considering the ideal Candidate working on a remote basis. Finally, salary range is $102k to $153k. Apply now for this exciting Actuary, Innovation job by clicking on the Apply Now button above! This is Job 2850.


The Essential Functions

New Product Development / Design Enhancements

  • Above all, enhances and/or assists in the development of new product design concepts meeting consumer needs, internal profit targets and/or risk parameters.
  • Also, builds and programs MG-ALFA functionality and/or MS Excel tools in order to perform technical assessment of new product ideas.
  • Performs profit studies for new product concepts, benefit designs & potential enhancements.
  • Furthermore, performs technical assessment of design concept proposals from internal and external partners.
  • Finally, produces supplemental presentation documentation

Competitive Benchmarking

  • First of all, tracks and interprets recent product innovations of competitors within the FIA marketplace, as well as within the retirement industry as a whole (VA’s/SPIA’s/DIA’s/Registered FIA’s  as well as the RIA/BD arena).
  • Also, researches upcoming regulatory changes and interprets implications for new product opportunities and constraints.
  • Furthermore, actively interprets industry data to advise product enhancements and/or new product design trends.
  • Establishes & maintains competitive benchmark measures.
  • Provides in-depth technical interpretations of competitor rate actions, competitor product design and product strategy.
  • Finally, produces supplemental presentation documentation.

Experience and Education Requirements

  • Bachelor’s degree (B.A.) from four-year college or university in actuarial science, math or other related field; plus six (6) years related experience including three (3) years in a product development actuarial role; or equivalent combination of education and/or experience.
  • FSA, MAAA preferred. ASA, MAAA considered with exceptional level of relevant experience.
  • Above all, MG-ALFA experience highly preferred.
  • MS Excel and MS Access experience required.
  • VBA programming experience preferred.
  • Fixed indexed annuity and fixed annuity product development experience preferred.
  • Also, excellent verbal and written communication skills.
  • Advanced mathematical skills and strong attention to detail. Able to comprehend and apply principles of advanced mathematical concepts and theory.
  • Most noteworthy, ability to work cooperatively and successfully with employees, customers, and other outside third parties.
  • Strong systems aptitude.
  • Ability to effectively present information and respond to questions.
  • Also, ability to read, analyze, and interpret general business periodicals, professional journals and technical/operational procedures.
  • Furthermore, ability to define problems, collect data, establish facts, and draw valid conclusions.
  • Able to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists.
  • Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.
  • Finally, ability to successfully handle pressure and meet deadlines in a fast-paced work environment.


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