Actuarial Internship (Summer 2027)

Principal Financial Group • Des Moines, IA

1d • Hybrid

About The Position

Are you looking for an opportunity to expand your technical skills, communication skills, and industry knowledge? If so, consider joining the Principal internship program and provide actuarial services and support to the many different lines of business we have here! Projects and responsibilities vary based on business need, but here are a few examples of what previous interns have accomplished:
Cluster Modeling Project – efficient method of compressing a model with the goal of improving the runtime.
Updating experience studies – looking through our data to identify the frequency and severity of our claims across demographic groups. Findings directly affect the pricing of our products by setting assumptions based on both our internal experience and industry-wide experience.
SAS Asset Reporting Tool - help us understand why things are changing from projection to projection, allowing us to better analyze future performance from block to block.
Analysis of Foreign Exchange Rates – explore the impact of fluctuations in foreign currencies on Principal’s international insurance and retirement businesses. This work helps our international business to improve its strategy around how we handle the complex risks of the global marketplace.
Other responsibilities could include: identifying model elements most likely to be impacted by the economic environment, designing and running test scenarios, analyzing results, and summarizing findings.

Requirements

• Current enrollment at a college/university or completed degree with focused studies in actuarial science, statistics, mathematics or related majors.
• Ability to pass actuarial exams and a dedication to pursue an FSA with the Society of Actuaries.
• Knowledge of actuarial mathematics, including probability, statistics, numerical analysis and compound interest.
• Collaborative communication skills and an eagerness for continuous learning.

Nice To Haves

• At least one actuarial exam completed and passed.
• Knowledge of Excel, database, or actuarial modeling tools.
• Informal or formal leadership experience.

Responsibilities

• Provide actuarial services and support to different lines of business.
• Update experience studies by analyzing claim frequency and severity across demographic groups.
• Assist in understanding changes in projection to projection for the SAS Asset Reporting Tool.
• Analyze the impact of foreign exchange rate fluctuations on international insurance and retirement businesses.
• Identify model elements impacted by the economic environment.
• Design and run test scenarios.
• Analyze results and summarize findings.

Benefits

• Learn from and work with credentialed actuaries, including an assigned mentor.
• Meaningful and challenging work at a company that values authenticity and encourages curiosity.
• Small group meetings with Senior Actuarial Leadership.
• Paid company holidays and any time off required in your state.
• Lump sum stipend of $4,000 to support incidental expenses.
• Tax gross-up on the stipend.

What This Job Offers

• Job Type: Full-time
• Career Level: Intern
• Education Level: No Education Listed