Senior Director & Actuary

About the role

Provide professional actuarial advice and services critical to the development, implementation, and maintenance of the Company's life, disability, annuity, and long-term care products. The Actuarial Department develops appropriate premiums, dividends, reserves, and surplus requirements by analyzing mortality, morbidity, persistency, investment, and expense experience, striving to maintain equity and consistency among all policyowners while safeguarding the Company's long-term financial strength. Perform and supervise actuarial work required to advise on matters related to product pricing, dividend setting, reserve levels, mortality/morbidity issues, and field compensation.

Additionally, stay current on actuarial techniques and on laws and regulations pertinent to your area of expertise; provide guidance to others within your assigned field of expertise.

Responsibilities

• Perform and/or supervise actuarial research and other actuarial work required to properly advise Senior Management on product pricing, dividend setting, reserve levels, mortality/morbidity/persistency issues, and field compensation.
• Identify and solve a wide variety of actuarial problems related to the Company's operation.
• Keep up to date on current developments in actuarial techniques, research, and applicable laws and regulations.
• Provide guidance to other officers or members of the department within your field of expertise.
• May represent the department or Company as a member of Company, industry, or professional committees.

Requirements

• Fellow of the Society of Actuaries (FSA) designation.
• Minimum of seven years of significant Actuarial experience.
• Substantial knowledge and experience in a variety of actuarial subjects.
• Ability to manage interdepartmental projects and direct activities of subordinates at the officer level.
• Knowledge of Company, industry, and regulatory practice and procedures.
• Strong leadership and communication skills.

Level and title may be adjusted based on candidate experience and qualifications.

Skills

• Adaptive Communication: Formulates strategies to convey complex information about services, products, systems, or processes to targeted audiences; communicates and liaises between technical and non-technical audiences.
• Analytical Thinking: Organizes and compares various aspects of a situation to comprehend and identify key or underlying complex issues through quantitative data and analysis; leverages strong business acumen, problem-solving, and interpersonal skills.
• Attention to Detail: Focuses on specific details to spot and correct errors in advance of them being found and surpass quality expectations. Performs work with thorough proofreading for presentation, content, accuracy, and overall quality.
• Insurance Finance & Actuarial Acumen: Applies knowledge of finance, accounting, and actuarial concepts within insurance practices to understand financial implications of underwriting decisions, analyze risk, adjust premiums, or change coverage limits.
• Insurance Products: Leverages knowledge of the components, characteristics, principles, and advantages of specific Northwestern Mutual insurance products to inform innovation, development, and improvement.
• Risk Evaluation: Assesses the significance of identified risks, makes judgments about risk in relation to the organization's objectives, and determines whether the risk is acceptable based on factors such as risk appetite, tolerance, and management resources.
• Risk Management (Expert)
• Strategic Thinking (Advanced)
• Data Analytics (Expert)
• Storytelling through Data (Expert)
• Learning Agility & Critical Thinking (Expert)
• Cross Functional Partnering & Planning (Expert)
• Customer Centricity (Expert)
• Process Improvement (Expert)
• Statutes & Regulation (Expert)
• Accountability (Advanced)
• Negotiation & Managing Objection (Advanced)
• Business Influence (Advanced)
• Actuarial Modeling (Expert)
• Organizational & Political Savvy (Advanced)
• Scenario Planning (Expert)

Pay

Compensation Range:

• Pay Range - Start: $160,000.00
• Pay Range - End: $240,000.00
• Structure 110 (Geographic Specific Pay): $176,000.00 - $264,000.00
• Structure 115: $184,000.00 - $276,000.00

Final salaries are based on skills, experience, location, and other factors uncovered during the hiring process. The standard pay structure is listed, but geographic-specific pay structures, compensation, and benefits may apply for candidates in California, New York City, or other eligible locations.

Benefits

• Flexible work schedules
• Concierge service
• Comprehensive benefits
• Employee resource groups