Associate Actuary (Validation & Special Projects)

About the role

This is a key position on the Transamerica actuarial Model Development and First Line Validation team, responsible for the maintenance and development of actuarial models as well as first-line assurance activities. The actuary in this role will work with AXIS models across the Life, Health, and Annuity space, producing information for statutory reserves, IFRS 17 liabilities, US GAAP, tax reserves, market consistent liability valuations, economic capital, and asset adequacy testing.

Responsibilities

• Contributes to the development of modeling best practices, standards, and frameworks applicable to AXIS models.
• Supports the implementation of US GAAP calculations in the Life, Health, and Annuity models.
• Supports baselining and control review of US GAAP implementation in AXIS models.
• Works with experience studies, business unit partners, and risk teams to develop testing plans that provide assurance around actuarial model changes.
• Serves as a key resource for completion of replicating spreadsheets, annual unlocking reviews, and on-top technical reviews throughout the year.
• Leads several special project initiatives, including AI adoption, to improve existing workflows within the Model Development and First Line Validation team.

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

• Strong technical skills with experience in Microsoft SQL Server, VBA, Alteryx, Python, or R.

Working Conditions

This is a hybrid position requiring three days (Tuesday–Thursday) in office per week in one of our hub locations: Cedar Rapids, Baltimore, Philadelphia, or Denver. Relocation assistance will not be provided for this position.

• Limited travel may be required.

Pay

The salary for this position generally ranges between $128,000 – $165,000 annually. Actual starting pay is determined by 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.

This position is typically eligible for an Annual Bonus of 15% based on the Company Bonus Plan and individual performance, at the Company’s discretion.