Associate Actuary – Annuity Valuation

Transamerica•Cedar Rapids, IA

1d•Hybrid

About The Position

Leads and performs actuarial valuation and financial reporting for annuity products, including variable annuities and registered index-linked annuities (RILA). This role is responsible for statutory valuation, capital and reserve analysis, and delivering accurate, timely financial results. Partners with cross-functional teams to analyze model outputs, explain drivers of results, and ensure the integrity of actuarial reporting. May provide guidance to team members and contribute to ongoing improvements in actuarial modeling and reporting processes.

Requirements

Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Economics or related field and 5 years of relevant experience.
FSA or equivalent professional designation.
In lieu of FSA will accept ASA or equivalent professional designation and 8 years of relevant experience.
In lieu of Bachelor's, will accept Master's in a listed discipline and 4 years of relevant experience.
Demonstrates high quality leadership, judgment, organization and prioritization skills.
Effectively communicates, both verbally and in writing, advanced mathematical and analytical concepts to various audiences.
Works well under pressure and within time constraints to effectively accomplish individual and team objectives.
Excellent computer skills.

Nice To Haves

Utilize actuarial modeling platforms (e.g. MG-ALFA , Python-based tools, or similar systems) to perform valuation analysis

Responsibilities

Perform statutory valuation and reporting, including reserve calculations and capital analysis for annuity products (VA, RILA)
Produce and review monthly, quarterly, and annual financial results, ensuring accuracy and timeliness
Analyze and explain drivers of change in results (e.g., quarter-over-quarter variance, model updates, assumption changes)
Execute and interpret results from actuarial models, ensuring outputs are reasonable and validated prior to distribution
Support cash flow testing and contribute to broader financial reporting (including potential GAAP exposure)
Collaborate with internal/external stakeholders to present results and communicate key insights to management and auditors/regulators.
Identify opportunities to enhance modeling processes, controls, and reporting efficiency
Provides reports and analyses to management on sales, persistency and mortality or morbidity experience for various product lines, reserve adequacy, risk management information, or various other similar items.
Manages studies that underlie actuarial assumptions and provides assumptions and data to others.
May support creation of systems specifications, contracts, commission structures, and other actuarial aspects of product development.
Monitors and analyzes developments in actuarial techniques, laws and regulations applicable to company operations, and competitive developments in the marketplace.
May represent the company on industry and professional committees and/or with regulators.
May supervise a small team of employees.

Benefits

Competitive Pay
Bonus for Eligible Employees
Benefits Package
Pension Plan
401k Match
Employee Stock Purchase Plan
Tuition Reimbursement
Disability Insurance
Medical Insurance
Dental Insurance
Vision Insurance
Employee Discounts
Career Training & Development Opportunities
Paid Time Off starting at 160 hours annually for employees in their first year of service.
Ten (10) paid holidays per year (typically mirroring the New York Stock Exchange (NYSE) holidays).
Be Well Company holistic wellness program, which includes Wellness Coaching and Reward Dollars
Parental Leave – fifteen (15) days of paid parental leave per calendar year to eligible employees with at least one year of service at the time of birth, placement of an adopted child, or placement of a foster care child.
Adoption Assistance
Employee Assistance Program
Back-Up Care Program
PTO for Volunteer Hours
Employee Matching Gifts Program
Employee Resource Groups
Inclusion and Diversity Programs
Employee Recognition Program
Referral Bonus Programs