Assistant Director & Actuary

Northwestern Mutual•Milwaukee, WI

About The Position

Provide professional actuarial advice and services supporting 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, while striving for equity among policyowner underwriting classes and safeguarding the Company's long-term financial strength. 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 relevant laws and regulations, and provide guidance to others within the assigned area of expertise. Potential areas of work include life insurance pricing, long-term care insurance pricing, valuation, and modeling. Depending on the role, work may include product design and pricing, regulatory implementation, inforce policy management, Principle Based Reserve calculations and reporting, assumption investigation, model development, or enhancements to in-house models used for pricing, cashflow testing, reserving, and corporate projections. Roles offer opportunities to develop expertise across products and company financials and to pursue projects aligned with interests and 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 develop 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.
Stay current on actuarial techniques and laws and regulations relevant to the assigned area of expertise.
Provide guidance to others within the assigned field of expertise.
For life insurance pricing, support new product design and pricing, implement evolving regulations, and manage inforce policies while ensuring equity across life insurance policyowners.
For long-term care insurance pricing, implement and maintain products offering long-term care benefits, including products with death benefit acceleration riders and the Long-Term Advantage hybrid life/long-term care product.
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 under a principle-based framework, work with the team to develop processes and calculations.
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.