Actuarial Analyst - Product Development

Pan-American Life Insurance Group • Oak Brook, IL

19h • $58,700 - $80,000 • Hybrid

About The Position

Pan-American Life Insurance Group (PALIG) is seeking an entry-level Actuarial Analyst who will be involved with a wide variety of actuarial aspects related to product development and management for US individual life products. This role will be based out of our Oak Brook, IL. office and expected to be onsite for initial training.

Requirements

• Bachelor's degree in analytic/quantitative discipline
• 1-2 years' work experience in a financial job preferred
• 1 Society of Actuaries exam passed or equivalent, but prefer 2 Society of Actuaries exam passed or equivalent
• Knowledge of Microsoft Office (Excel/Access)
• Excellent analytical and organizational skills, and a results-oriented perspective
• Excellent verbal and written communication skills

Responsibilities

• Pricing & Product Development: Learn actuarial pricing software (AXIS)
• Assist pricing efforts for US Life products
• Aid in developing actuarial memorandums and rate manuals as necessary
• Assist in developing rates for new and Inforce products
• Product Implementation Testing: Test calculated values in administration and illustration systems to determine accuracy
• Experience Analysis: Assist in developing experience studies as needed for individual life products
• Dividend Scale Development & Maintenance: Support annual Dividend Scale Development for MTL products.
• Aid in database management, maintenance, and usage (ACCESS)
• Aid in building and running dividend payout projections and reports (ACCESS & Excel)
• Support/Assist annual Dividend Scale implementation and testing.
• Support PALIC dividend scale testing and calculations, as needed.
• Support PALIC-OH annual dividend scale process.
• Support the streamlining & efficiency efforts within the dividend processes and communications throughout PALIC.
• Other Special Projects as Assigned: Assist with Capital Projects, as needed.
• Assist in Illustration Regulation testing of new dividend scales, as needed and assigned.
• Support other Projects as they arise.
• Expand actuarial knowledge via work assignments and SOA exams.
• Create and maintain documentation, particularly procedures and instructions.

Benefits

• Competitive compensation package (base salary & bonus)
• Base salary could range from $58,700 to $80,000, depending on experience and passed exams. This role comes with an annual 4% bonus opportunity.
• Comprehensive benefits including medical, dental, 401(k), paid time off, and tuition reimbursement
• Medical and dental coverage available starting the first of the month following 30 days of service
• Hybrid work opportunities

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level