Associate Actuary – Annuity Valuation

About the role

Leads and performs actuarial valuation and financial reporting for annuity products, including variable annuities and registered index-linked annuities (RILA). This role is responsible for statutory valuation, capital and reserve analysis, and delivering accurate, timely financial results. Partners with cross-functional teams to analyze model outputs, explain drivers of results, and ensure the integrity of actuarial reporting. May provide guidance to team members and contribute to ongoing improvements in actuarial modeling and reporting processes.

Responsibilities

• Perform statutory valuation and reporting, including reserve calculations and capital analysis for annuity products (VA, RILA)
• Produce and review monthly, quarterly, and annual financial results, ensuring accuracy and timeliness
• Analyze and explain drivers of change in results (e.g., quarter-over-quarter variance, model updates, assumption changes)
• Execute and interpret results from actuarial models, ensuring outputs are reasonable and validated prior to distribution
• Support cash flow testing and contribute to broader financial reporting (including potential GAAP exposure)
• Collaborate with internal/external stakeholders to present results and communicate key insights to management and auditors/regulators
• Identify opportunities to enhance modeling processes, controls, and reporting efficiency
• Maintains awareness of developments in actuarial techniques, laws and regulations applicable to company operations, and competitive developments in the marketplace
• May represent the company on industry and professional committees and/or with regulators
• May supervise a small team of employees

Qualifications

• Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Economics or related field and 5 years of relevant experience
• FSA or equivalent professional designation. In lieu of FSA will accept ASA or equivalent professional designation and 8 years of relevant experience
• In lieu of Bachelor's, will accept Master's in a listed discipline and 4 years of relevant experience
• Demonstrates high quality leadership, judgment, organization and prioritization skills
• Effectively communicates, both verbally and in writing, advanced mathematical and analytical concepts to various audiences
• Works well under pressure and within time constraints to effectively accomplish individual and team objectives
• Excellent computer skills

Preferred Qualifications

• Utilize actuarial modeling platforms (e.g. MG-ALFA, Python-based tools, or similar systems) to perform valuation analysis

Job Description Summary

Leads and performs actuarial valuation and financial reporting for annuity products, including variable annuities and registered index-linked annuities (RILA). This role is responsible for statutory valuation, capital and reserve analysis, and delivering accurate, timely financial results. Partners with cross-functional teams to analyze model outputs, explain drivers of results, and ensure the integrity of actuarial reporting. May provide guidance to team members and contribute to ongoing improvements in actuarial modeling and reporting processes.

Compensation

The salary for this position generally ranges between $128,000 - $145,000 annually. Please note that the salary range is a good faith estimate for this position and actual starting pay is determined by several factors including qualifications, experience, geography, work location designation (in-office, hybrid, remote) and operational needs. Salary may vary above and below the stated amounts, as permitted by applicable law. Additionally, this position is typically eligible for an Annual Bonus of 15% based on the Company Bonus Plan/Individual Performance and is at the Company’s discretion.

What We Offer

• Comprehensive benefits package designed to support both the personal and financial well-being of our employees
• Pension Plan
• 401k Match
• Employee Stock Purchase Plan
• Tuition Reimbursement
• Disability Insurance
• Medical Insurance
• Dental Insurance
• Vision Insurance
• Employee Discounts
• Career Training & Development Opportunities
• Health and Work/Life Balance Benefits
• Paid Time Off starting at 160 hours annually for employees in their first year of service
• Ten (10) paid holidays per year (typically mirroring the New York Stock Exchange (NYSE) holidays)
• Be Well Company holistic wellness program, which includes Wellness Coaching and Reward Dollars
• Parental Leave – fifteen (15) days of paid parental leave per calendar year to eligible employees with at least one year of service at the time of birth, placement of an adopted child, or placement of a foster care child
• Adoption Assistance
• Employee Assistance Program
• Back-Up Care Program
• PTO for Volunteer Hours
• Employee Matching Gifts Program
• Employee Resource Groups
• Inclusion and Diversity Programs
• Employee Recognition Program
• Referral Bonus Programs

What We Do

Transamerica is organized into three distinct businesses: 1) World Financial Group, including Transamerica Financial Advisors, 2) Protection Solutions and Savings & Investments, comprised of life insurance, annuities, employee benefits, retirement plans, and Transamerica Investment Solutions, and 3) Financial Assets, which includes legacy blocks of long term care, universal life, and variable and fixed annuities. These are supported by Transamerica Corporate, which includes Finance, People and Places, General Counsel, Risk, Internal Audit, Strategy and Development, and Corporate Affairs, which covers Communications, Brand, and Government and Policy Affairs. Transamerica employs nearly 7,000 people. It’s part of Aegon, an integrated, diversified, international financial services group serving approximately 23.9 million customers worldwide.* For more information, visit transamerica.com.

United in our purpose

We help people create the financial freedom to live life on their terms.

Disclaimer

Beware of fake job offers! We’ve been alerted to scammers impersonating Transamerica recruiters, particularly for remote positions. Please note: We will never request personal information such as ID or payment for equipment upfront. Official offers are sent via DocuSign following a verbal offer—not through text or email. This job description is not a contract of employment nor for any specific job responsibilities. The Company may change, add to, remove, or revoke the terms of this job description at its discretion. Managers may assign other duties and responsibilities as needed. In the event an employee or applicant requests or requires an accommodation to perform job functions, the applicable HR Business Partner should be contacted to evaluate the accommodation request.