Assistant Director & Actuary

Northwestern Mutual•Milwaukee, WI

9d•$130,800 - $225,600•Hybrid

About The Position

Provide professional actuarial advice and services critical to the development, implementation, and maintenance of the Company's insurance, disability, annuity, and long-term care products. The Actuarial Department develops premiums, dividends, reserves, and surplus requirements by analyzing mortality, morbidity, persistency, investment, and expense experience, aiming to maintain equity and consistency among policyowner underwriting classes while safeguarding the Company's long-term financial strength. Perform or supervise actuarial work relating to product pricing, dividend setting, reserve levels, mortality and morbidity issues, and field compensation. Keep current on actuarial techniques and applicable laws and regulations, and provide guidance to others within the assigned area of expertise. Potential areas include life insurance pricing, long-term care insurance pricing, valuation, and modeling. Work may involve designing and pricing products, implementing regulatory changes, managing inforce policies, calculating and reporting principle-based reserves, investigating assumptions, presenting results to senior management, and enhancing in-house models used for pricing, cashflow testing, reserving, and corporate projections. Roles offer opportunities to develop expertise in areas aligned with interests and long-term development objectives.

Requirements

Attainment of Fellow of the Society of Actuaries (FSA) designation.
At least five years of proven actuarial experience.
Strong communication skills.
A high degree of expertise in one or more areas of Actuarial Department activities.

Responsibilities

Provide actuarial advice and services for the development, implementation, and maintenance of insurance, disability, annuity, and long-term care products.
Analyze mortality, morbidity, persistency, investment, and expense experience to support premiums, dividends, reserves, and surplus requirements.
Perform or supervise actuarial work related to product pricing, dividend setting, reserve levels, mortality and morbidity issues, and field compensation.
Keep current on actuarial techniques and laws and regulations relevant to the area of expertise.
Provide guidance to others within the assigned field of expertise.
For life insurance pricing, design and price new products, implement evolving regulations, and manage inforce policies while ensuring equity across policyowners.
For long-term care insurance pricing, implement and maintain products offering long-term care benefits, including products and riders in the long-term care suite.
For valuation, perform principle-based reserve calculations, analysis, and reporting; investigate assumptions; work with the model development team to implement regulatory changes in modeled reserves; and present results to senior management.
For new products subject to a principle-based framework, develop new processes and calculations with the team.
For modeling, design enhancements or new features for in-house models used for pricing, cashflow testing, reserving, and corporate projections, working closely with model users.