Actuarial Associate 2

Sammons Financial Group • Chicago, IL

1d

About The Position

The Actuarial Associate performs technical actuarial work related to Sammons Financial Group products. Work may include modeling, data analytics, product development, and financial reporting. The position may be filled at the Associate 1, 2, or 3 level based on skills, experience, and alignment with the role’s scope as evaluated through a structured selection process. The associate applies product, insurance, modeling, and regulatory knowledge to support actuarial processes, reporting, risk analysis, and business needs, and provides technical guidance as directed.

The role involves developing knowledge of products, assumptions, actuarial models and valuation software, accounting standards, reporting requirements, and relevant risks. It also supports data analysis, projects, actuarial calculations for administration or IT testing, and ongoing professional development through the Society of Actuaries examination program. Regular attendance is expected to meet business service levels and workflow demands.

Requirements

• Bachelor’s degree, preferably in mathematics or a business-related field.
• At least three years’ experience in actuarial science examinations: must have passed a minimum of three Society of Actuaries exams.
• Continued pursuit of an actuarial designation through the Society of Actuaries examination program.
• High level of mathematical ability, attention to detail, and strong analytical skills.
• Strong computer skills, including experience using applicable technical tools.
• Strong written and verbal communication skills.
• Basic knowledge of the insurance industry.
• Ability to analyze problems or questions and provide insights to the requestor.
• Ability to work individually and as part of a team.
• Strong organization and ability to balance multiple projects.
• Ability to work effectively in an office environment.
• Criminal background check required.
• Candidates must not require immigration sponsorship or work authorization for this role now or in the future.

Nice To Haves

• Three to five years of experience in the field of actuarial science.

Responsibilities

• Develop knowledge of Sammons Financial Group products in the area of focus and understand their customer value propositions.
• Apply understanding of insurance contracts, regulations, product features, policy transactions, product designs, and cash flows in actuarial processes; assist in preparing materials required for regulatory compliance.
• Develop knowledge of assumptions used in actuarial calculations and modeling; interpret historic data, make and justify simple recommendations for individual assumptions, assess assumption changes using actuarial models, and document assumptions and sources.
• Develop knowledge of actuarial modeling and valuation software; create and alter simple financial models, make and validate small changes to complex models, build tools to improve model accuracy and efficiency, and document inputs and results.
• Assist with financial reporting analysis, including balance sheets and income statements produced by actuarial models; understand and report on predefined profit measures.
• Modify and use spreadsheet, database, and other data analytics software to analyze, summarize, manipulate, transform, and aggregate data; present findings and perform checks on data and analysis robustness.
• Assist in quantifying actuarial risk exposure, using model projections to produce management information for monitoring exposure, and developing risk mitigation techniques.
• Assist with special projects and complete work individually or in teams on time and to a high standard; plan and prioritize work in line with team or department objectives.
• Develop relationships with other departments and business units; perform actuarial calculations as needed to support administration or test IT functionality.
• Participate in the Society of Actuaries examination program and maintain a satisfactory pass record in accordance with the company’s actuarial study program guidelines.
• Demonstrate commitment to Sammons Financial Group Companies’ shared values: Accountability, Connection, Openness, Respect, and Integrity.
• Maintain regular attendance as required by the Company Attendance and Punctuality policy.
• Participate in other initiatives and projects as necessary.

Benefits

• Medical, dental, and vision coverage, with HSA and FSA options and term life insurance.
• Performance-based incentive program tied to defined goals and individual and/or company success.
• 100% company-funded Employee Stock Ownership Plan (ESOP) and automatic enrollment in a 401(k).
• Friday afternoons off year-round, generous paid time off, and paid holidays.
• Paid development time, tuition reimbursement, and professional development opportunities.
• Volunteer time off and a company nonprofit matching gift program.

What This Job Offers

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