Actuarial Associate 2

About the role

Accurately and efficiently perform technical actuarial tasks, including assisting with modeling, data analytics, product development, and 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 basic types of insurance contracts, actuarial regulations, product features, and policy transactions; apply this understanding in actuarial processes.
• Assist in preparing materials required to comply with applicable regulations.
• Develop knowledge of assumptions required for actuarial calculations and modeling; interpret historic data to justify simple recommendations for individual assumptions.
• Use actuarial models to assess the impact of assumption changes; document assumptions and their sources.
• Develop knowledge of actuarial modeling and valuation software, including key elements, uses, and limitations.
• Create and modify simple financial models, validate changes to complex models, and build tools to ensure model accuracy and efficiency.
• Document model inputs and results.
• Develop basic knowledge of accounting standards and reporting requirements for insurance liabilities and backing assets; assist in analyzing financial reports.
• Understand and report on pre-defined profit measures.
• Use spreadsheet, database, and data analytic software to perform data analysis, summarize, manipulate, transform, and aggregate data.
• Present aggregated data verbally, numerically, graphically, or in written formats to highlight key features.
• Perform checks to confirm data and analysis robustness.
• Understand basic concepts of relevant actuarial risks and implications of failing to manage risk; assist in quantifying risk exposure and developing mitigation techniques.
• Assist with special projects and work individually or in teams to complete projects on time and with high quality.
• Plan and prioritize work in alignment with team or department objectives.
• Develop relationships with other departments and business units.
• Perform actuarial calculations to support administration or test IT functionality.
• Participate in the Society of Actuaries’ (SOA) examination program with a satisfactory pass record per company guidelines.
• Commit to company shared values: Accountability, Connection, Openness, Respect, and Integrity.
• Regular attendance is required to meet business service levels and workflow demands.
• Participate in other initiatives and projects as necessary.

Requirements

• Bachelor’s Degree, preferably in mathematics or a business-related field.
• 3–5 years of experience in Actuarial Science.
• High level of mathematical ability, attention to detail, and strong analytical skills.
• Strong computer skills, including experience with applicable technical tools.
• Strong written and verbal communication skills.
• Basic knowledge of the insurance industry.
• Ability to analyze problems and provide insights.
• Ability to work both individually and as part of a team.
• Highly organized with the ability to balance multiple projects.
• Ability to work effectively in an office environment.
• Must have passed a minimum of three (3) SOA exams and continue pursuing an actuarial designation.

Criminal background check required. If the position is in the SIG business unit, Annuity New Business Securities team, or involves holding securities licenses, FINRA regulations require fingerprinting; a credit check may also be required. Management reserves the right to determine incumbent suitability.

Pay

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

Benefits

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