Annuity Product Actuary

This job’s primary responsibility, annuity product development, is to direct and provide leadership. This is in the design, pricing and management of Fixed Indexed Annuity products for our Client.  This job reports to the VP Annuity Product. It will interact directly with all levels of senior management.  Primary responsibility, as annuity product marketing actuary, is to lead actuarial work on the development. In addition, on design, pricing, risk analysis, and on-going management of the Fixed Indexed Annuity products.

Annuity Product Actuary

Job# 2822

Location:  Des Moines, IA

Education Requirements:  Bachelor’s degree is required in mathematics, actuarial science or related degree.

Other Requirements

  • FSA and MAAA certifications are required.
  • Furthermore, minimum 8 years actuarial experience. At least six years of experience in progressively responsible product positions in the insurance industry.
  • Also, strong Pricing and annuity knowledge.
  • Supervisory experience.
  • In addition, strong technical, analytical, organizational, computer, and team skills.
  • Knowledge of Axis or closely related actuarial/pricing software is preferred.
  • In addition, proactive individual who can provide strategic thinking to Product Development team. Solid analytical, visionary and conceptual skills.
  • Self-starter who demonstrates strong initiative. Displays a high energy level.
  • Also, strong problem-solving skills that include advanced analytical and reasoning abilities.
  • Furthermore, ability to establish and maintain strong internal relationships within the company.
  • Strong presentation skills.
  • In addition, team player who has the ability to function as a key member of a small group. Members of the team work with great autonomy. Take a high degree of ownership for their areas of responsibility.
  • Business acumen to gain credibility within the organization.
  • Also, knowledge of Microsoft Office applications (Word, Excel, PowerPoint, Access).
  • Furthermore, excellent team-building and supervisory skills. Ability to retain, coach, delegate and mentor actuarial students.
  • In addition, ability to participate in establishing goals, structures, and processes necessary to implement a mission and strategic vision.
  • In conclusion, support effective partnerships with key groups and individuals. Possess superior consultation and change management skills.

Salary Range:  $120k to $175k DOE

Description

This job’s primary responsibility, as annuity product development, is to direct and provide leadership. This is in the design, pricing and management of Fixed Indexed Annuity products.  This job reports to the VP Annuity Product. It will interact directly with all levels of senior management.  The actuary’s primary responsibility is to lead actuarial work. As annuity product marketing actuary; you oversee development, design, pricing, risk analysis, and on-going management of the Fixed Indexed Annuity products.  

In addition, the job supports the product lines to comply with various state and federal regulations. Ensure the company objectives are achieved.  Also, the job participates in discussions on new product designs; initiating and analyzing applicable actuarial research. Furthermore, developing actuarial assumptions and policy values; developing and maintaining profitability models. Also, analyzing results, and making recommendations of any changes to the product lines of business.

Furthermore, this job has visibility into state filings and inforce management of the annuity product line.  Also, responsibilities include leading a small team of internal actuarial staff members. In addition, working with external actuaries. 

Duties and responsibilities

  • Determination of Product Features and Rates:
    • Perform pricing exercises in accordance with established pricing guidelines and profitability targets for all Annuity products. Focus on equity index products.
    • In addition, monthly new business analysis of all current retail annuity products.
    • Also, evaluate New Business in a risk adjusted framework.
  • Product Development:
    • Provide analysis for the Product Development team on feasibility of product ideas.
    • Also, provide Valuation and Non-forfeiture Law expertise for Fixed Indexed Annuity products.
    • Furthermore, recommend, as annuity product marketing actuary, design and contract language changes. Also, investment and compensation practices.
    • Lead the preparation of all annuity pricing-related Product Specifications and Pricing Report documents
  • Sales Illustrations:
    • Assist in ensuring new and existing products are properly supported in calculators and the Illustration systems.
  • Inforce Management:
    • Collaborate with others in supporting product implementation and inforce management of the Annuity Products.

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