Actuarial Associate 2

USD $85,577.00 - USD $142,628.00 per year. Range includes data points from multiple labor markets. Specific range is dependent on the labor market where the incumbent will be hired. Starting salary is dependent on candidate qualifications and experience.

About the role

Accurately and efficiently perform the technical actuarial tasks related to this role. This may include assisting with modeling, data analytics, product development, and/or financial reporting for Sammons Financial Group's products. Provide technical guidance as directed.

Responsibilities

• Develop strong knowledge of Sammons Financial Group products related to area of focus and understand customer value propositions.
• Understand the basic types of insurance contracts, actuarial-related regulations, product features, and policy transactions.
• Apply understanding of product designs and cash flows in actuarial processes and functions.
• Assist in preparing materials required to comply with applicable regulations.
• Develop good knowledge of assumptions required for actuarial calculations and modeling, and assist in applying them.
• Interpret historic data to make and justify simple recommendations for individual assumptions.
• Use actuarial models to understand the impact of a change in assumptions.
• Document assumptions made to support the work and the sources of the assumptions.
• Develop good knowledge of actuarial modeling and/or valuation software, including key elements, uses, and potential shortcomings.
• Create and alter simple financial models, including making and validating small changes to complex models.
• Build tools to ensure accuracy and efficiency of models.
• Document model inputs and results.
• Develop basic knowledge of accounting standards and other reporting requirements covering insurance liabilities and the assets backing liabilities.
• Assist in analyzing basic financial reporting as needed, including balance sheets and income statements produced by actuarial models.
• Understand and report on pre-defined profit measures.
• Modify and use existing spreadsheet, database, and other data analytic software to perform data analysis and 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 basic concepts of relevant actuarial risks and the implications of failing to manage risk.
• Assist in the quantification of risk exposure and use model projections to produce management information to measure and monitor ongoing exposure.
• Assist in developing risk mitigation techniques.
• Assist with 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 with other departments and business units.
• Perform actuarial calculations to support administration or test IT functionality as needed.
• Participate in the Society of Actuaries’ (SOA) examination program with a satisfactory pass record per Sammons Financial Group's actuarial study program guidelines.
• Commit to embracing Sammons Financial Group Companies shared values: Accountability, Connection, Openness, Respect, and Integrity.
• Regular attendance is required and expected to meet business service levels and workflow demands.
• Participate in other initiatives and/or projects as necessary.

Requirements

• Bachelor's Degree, preferably in mathematics or a business-related field.
• 3-5 years of experience in the field of Actuarial Science.
• Demonstrate a high level of mathematical ability and attention to detail, along with strong analytical skills.
• Strong computer skills, including experience using applicable technical tools.
• Strong written and verbal communication skills.
• Basic knowledge of the insurance industry.
• Ability to analyze problems or questions and provide insights to the requestor.
• Ability to work both individually and as part of a team.
• Highly organized with the demonstrated ability to balance multiple projects.
• Ability to work effectively in an office environment.
• Must have passed a minimum of three (3) SOA exams.
• Continued pursuit of an actuarial designation in the Society of Actuaries’ examination program.
• Criminal background check required.
• If the position is in the SIG business unit, Annuity New Business Securities team, or if holding securities licenses, FINRA regulations require fingerprinting; if holding securities licenses, a credit check will also be required.

Benefits

• Comprehensive health coverage for you and your family, including Medical, Dental, Vision, HSA & FSA options, and term life insurance.
• Competitive compensation with a performance-based incentive program tied to clear goals and individual and/or company success.
• 100% company-funded Employee Stock Ownership Plan (ESOP), plus automatic enrollment in our 401(k).
• Friday afternoons off year-round, generous paid time off, and paid holidays.
• Paid development time, tuition reimbursement, and professional development opportunities across industry, individual, and leadership programs.
• Volunteer time off and company nonprofit matching gift program, supporting causes that matter most to you.

At this time, we’re not considering candidates that need any type of immigration sponsorship now or in the future or those needing work authorization for this role.