Actuary

TIAA • Frisco, TX

1d

About The Position

The Actuary performs actuarial work related to capital adequacy/financial strength, experience studies, actuarial modeling, asset liability management (ALM), valuation, retirement plan support, product development, pricing, non-guaranteed element determination and other business functions. Under minimal supervision, this job requires compliance with actuary practices and monitoring of changing regulations to ensure consistent compliance and delivery of optimal solutions to both internal and external clients.

Requirements

• 4+ years of Actuarial experience required
• Associate of Society of Actuaries (ASA)
• Microsoft Excel, VBA, R, Python, Tableau
• Familiarity with MG-ALFA
• Experience with financial projections/planning & analysis, stress testing, capital management
• In-depth knowledge of US and Bermuda statutory and solvency frameworks for annuity products
• Excellent communication skills, both verbal and written; ability to effectively relay complex concepts to non-technical audiences
• Strong critical, analytical, and strategic thinking
• Self-motivated, able to work both independently and collaboratively, and able to prioritize required tasks appropriately
• A deep understanding of various aspects of TIAA or other complex financial services organizations (e.g. legal structure, sensitivity of different businesses to economic factors, etc.)
• Accountability
• Actuarial Science
• Business Acumen
• Collaboration
• Communication
• Continuous Improvement Mindset
• Executive Presence
• Financial Acumen
• Financial Modeling
• Problem Solving
• Relationship Management
• TIAA Products/Services Acumen

Nice To Haves

• 7+ years of Actuarial experience preferred
• Fellow of Society of Actuaries (FSA)

Responsibilities

• Develops actuarial analyses with respect to the company's actuarial liabilities and capital position to ensure adequate financial strength of annuity and life insurance product lines, as well as overall financial strength of the company.
• Performs experience studies and assumption development for the annuity and life insurance lines of business.
• Develops asset and liability modeling and analyses of annuity and life insurance lines of business including financial projections and stress testing.
• Works on various ALM projects such as economic scenario generation, duration analysis, and interest rate stress testing.
• Performs valuations of actuarial reserves and liabilities.
• Performs asset adequacy testing and analyses of annuity and life insurance lines of business.
• Tests retirement plans for compliance with non-discrimination rules, calculation of allowable TDA plan contributions, actuarial valuation of defined benefit plans, and analysis of mortality trends and longevity risk.
• Develops annuity products, pricing, and policyholder illustrations; determination of non-guaranteed elements such as crediting rates and dividend scales.
• Corporate and entity-level financial plans, forecasts, stress testing, prospective solvency analysis; support corporate projects, strategic initiatives, and transactions.
• As a key user of actuarial models (specifically the M-STAR modeling platform (MG-ALFA)), work with modeling teams to relay requirements, test results, and ensure models appropriately support emerging developments. The ability to intimately learn M-STAR’s capabilities will be needed.
• Effectively communicate, collaborate, and negotiate with various other teams to ensure successful outcomes (Risk Management, GAO, CFP&A, Business Finance Office, Corporate Controllership, Corporate Strategy, Corporate Tax, Actuarial Modeling & Experience Studies, ALM, etc.).
• Presentations of data and recommendations to committees and other groups.

Benefits

• The organization is committed to making financial well-being possible for its clients, and is equally committed to the well-being of our associates.
• That’s why we offer a comprehensive Total Rewards package designed to make a positive difference in the lives of our associates and their loved ones.
• Our benefits include a superior retirement program and highly competitive health, wellness and work life offerings that can help you achieve and maintain your best possible physical, emotional and financial well-being.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 5,001-10,000 employees