Actuarial Associate - Individual Annuities (Modeling)
About the Role
The Standard's Individual Annuities division is seeking an Actuarial Associate to support the creation of models, data processes, and analytics needed for VM-22 implementation. This role is ideal for someone who is process oriented, enjoys solving new problems, effectively explains results, and wants to develop their modeling skill set. This role will further support the development and refinement of processes to implement VM-22 in pricing, FP&A, ALM, and governance frameworks. As part of this team, you will have opportunities to support other modeling initiatives in our near-term future state, potentially including strategic initiatives such as reinsurance to a Bermuda affiliate, strategic asset allocation, or ALM reporting.
Responsibilities
- Apply understanding of functional area to support enhancement of AXIS models and processes supporting VM-22 valuation
- Support key elements of VM-22 model implementation, such as model improvements, including structure, assumptions, and runtime optimization
- Develop working understanding of VM-22 in order to effectively support governance needs (change management, controls, validation readiness)
- Partner with valuation, pricing, FP&A, and investment management to ensure consistency and usability of results
- Analyze model output to identify drivers, limitations, and opportunities for improving model performance and scalability (automation, workflow, cloud integration where applicable)
- Partner with the core VM-22 team as well as other members of the actuarial community of practice
Qualifications
Education: Bachelor's degree (or equivalent combination of education and experience) in mathematics, actuarial science, business, or a related field preferred.
Certification & Experience: This role may be filled at either level based upon applicable experience and career path:
- Actuarial Associate III: 3+ years hands-on actuarial experience & ASA required
- Actuarial Associate II: 2+ years hands-on actuarial experience & successful completion of a minimum of 3 actuarial exams
Skills
- Prior modeling experience with GGY AXIS (preferred)
- Hands-on experience with Individual annuities (preferred)
- Asset modeling and Asset Liability Management (ALM) experience (preferred)
- Projection and Valuation modeling experience (CFT, LDTI MRB, VM-20, or VM-21) (strongly preferred)
- Python experience (preferred)
- Strong analytical skills, attention to detail, and the ability to own and explain reserve movements
Key Behaviors of a Successful Candidate
- Driving success: Independently drives work forward and takes responsibility for achieving job requirements, tasks, and objectives. Approaches business challenges from a broad perspective and anticipates and removes barriers to accomplish business objectives. Contributes actuarial, financial and industry expertise combined with unique product line knowledge and pursues exceptional results that take us "next level".
- Improvement Mindset: Acts independently to determine methods and procedures on new assignments. Plays a significant role as a resource/mentor to others in the actuarial career. Viewed as a key resource to the division and providing thought leadership in their key areas of responsibilities. Strives to exceed customer needs. Innovative, brings ideas to life, and seeks continuous improvement. Proactively identifies business issues and develops solutions to resolve them. Approaches business challenges from a broad corporate perspective and assesses business recommendations from a strategic viewpoint.
- Winning together: Excellent communication skills and the ability to develop positive internal and external stakeholder relationships by consistently and effectively delivering value. Seeks out and encourages diverse perspectives; helps individuals relate to, understand, and accept other perspectives.
- Adaptability: Ability to take ambiguous tasks and align it to the working model of the team to ensure execution.
Pay
- Actuarial Associate III: $94,500.00 - $138,500.00
- Actuarial Associate II: $82,250.00 - $120,750.00
Benefits
- Rich benefits package including medical, dental, vision and a 401(k) plan with matching company contributions
- Annual incentive bonus plan
- Generous paid time off including 11 holidays, 2 wellness days, and 8 volunteer hours annually — PTO increases with tenure
- Supportive, responsive management approach and opportunities for career growth and advancement
- Paid parental leave and adoption/surrogacy assistance
- Employee giving program that double matches your donations to eligible nonprofits and schools