Actuarial Analyst

The Savings Bank Mutual Life Insurance Company of Massachusetts • Woburn, MA

12d • Hybrid

About The Position

The Actuarial Analyst helps to develop, manage and price Life and Annuity products for our customers. The Analyst will support a variety of actuarial tasks that have implications across the organization, including taking products from inception to market and maintaining relevance of our core products. The position will collaborate with IT, Sales, Customer Service and other departments with illustration and product-related questions and projects.

Requirements

• A Bachelor’s Degree in Data Science preferred, Actuarial Science, Statistics, Mathematics considered.
• 2 Actuarial exams passed and either 1 Actuarial internship or 1-year of full-time actuarial experience. Exams will need to be passed as part of job.
• Experience working with/familiarity with Microsoft Office applications, particularly Excel, Access and PowerPoint. A working knowledge of AXIS actuarial software would be preferred.
• Desire to attain membership in the Society of Actuaries.
• Proven ability to learn quickly, and to apply known concepts to new situations.
• Strong written and oral communication skills. Ability to present actuarial analysis to non-actuarial audiences.
• Strong time management and organizational skills, ability to manage multiple tasks and work within time constraints.
• Local candidates only. No relocation or sponsorship available.

Nice To Haves

• A working knowledge of AXIS actuarial software would be preferred.

Responsibilities

• Work under the direction of senior actuaries to support pricing and developing annuity and life products. Work with groups across the company in product rollout and maintenance.
• Update and maintain actuarial financial models for profit testing.
• Assist in the production of product reports.
• Assist in the monitoring of product profitability on an ongoing basis – actual-to-expected actuarial dashboard.
• Work on implementation of product changes/revisions to ensure timely response to regulatory and market requirements.
• Assist in the periodic analysis and update of pricing assumptions.
• Assist in monitoring and analyzing competitor product offerings and market initiatives.
• Assist in setting up new products on illustration system, and maintaining and testing illustration system.
• Assist in the annual setting of policy dividends.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Number of Employees: 101-250 employees