Associate Actuary - Pricing

General Purpose Of The Job

The Associate Actuary provides pricing support and analysis for new and existing products. Assist in the design and creation of pricing models and analysis as well as documentation of approach, results, and potential risks. Work with product development team to implement modeling approach into production models.

Essential Duties And Responsibilities

• Performs feasibility analysis of new product ideas and existing product changes
• Builds pricing models using MG-ALFA/Integrate that will require significant creativity and custom coding to assess a variety of unique products and product features
• Assesses the profitability and risks within the products through sensitivity testing, assumption review, and other approaches using an established framework
• Create documentation and communicate findings including profitability, modeling approach, and potential risks within new and existing annuity product concepts
• Participates in & contributes to product ideation process including discussions regarding potential future product concepts
• Affixes the Product & Pricing team with implementation of new designs in production models
• Contributes to department-wide process improvement efforts, including training product team on company process improvement program tools and methodologies, identifying inefficiencies and developing and prioritizing corrective actions
• Collaborates with ALM, valuation, finance, tax, hedging, legal, and various other partners as part of the model development process to ensure pricing analysis accounts for all key elements involved in new business modeling
• Supports the modernization of existing statutory reserve calculation and reporting processes for pricing projects
• Completes actuarial work on a range of projects
• Completes actuarial career development work as assigned

Supervisory Responsibilities

Direct Reports: None to One (1) actuarial associate, analyst or intern

Education And/Or Experience

• Bachelor’s degree (B.A.) from four-year college or university in actuarial science, math or other related field; plus a minimum of three (3) years of progressively responsible actuarial experience; or equivalent combination of education and/or experience.
• Must have experience working with MS Excel and MG-ALFA. R and/or any other coding is desirable.

Certificates, Licenses, Professional Designations

• Associate of the Society of Actuaries (ASA) designation preferred.

Knowledge, Skills And Abilities

• Knowledge of policy values and benefit calculations for Fixed Indexed Annuities
• Expert/advanced level of ability in Microsoft Excel required
• Experience with MG-ALFA and/or Integrate
• Effective verbal and written communication skills with ability to effectively present information and respond to questions
• Strong systems aptitude
• Advanced mathematical skills and strong attention to detail
• Ability to work cooperatively and successfully with employees, customers, and other outside third parties
• Strong organizational and planning skills
• Proficient in the use of Microsoft Office Suite
• Ability to write reports, business correspondence, and procedure manuals
• Ability to read, analyze, and interpret general business periodicals, professional journals and technical/operational procedures
• Ability to define problems, collect data, establish facts, and draw valid conclusions
• Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists
• Ability to successfully handle pressure and meet deadlines in a fast-paced work environment