Associate Actuary – Indexed Annuity Pricing

Transamerica•Cedar Rapids, IA

4d•Hybrid

About The Position

Directs and provides leadership in the design, pricing, and implementation of indexed annuity products (RILA and FIA). Provides analysis and recommendations related to the profitability and risk of said products.

Requirements

FSA or equivalent professional designation along with Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Economics or related field and 5 years of relevant experience.
In lieu of Bachelor's, will accept Master's in a listed discipline and 4 years of relevant experience.
In lieu of FSA will accept ASA or equivalent professional designation and 8 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

Strong background in indexed products such as RILA or FIA preferred, and the fundamentals of derivatives
Demonstrates high quality leadership, judgment, organization and prioritization skills
Exhibits effective time management skills to manage multiple priorities effectively
Works well independently with the ability to help manage a project involving other constituents.
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
Knowledge of annuities and risk/return profiles of various assets is strongly preferred.
Familiarity with IFRS 17, GAAP Targeted Improvements for Long Duration Contracts, VM21/22/23 preferred
Strong background in coding/Python strongly preferred.
Experience with Excel, PowerBI, VBA, Python, and SQL preferred

Responsibilities

Oversee and/or lead weekly dashboard analysis, monthly reporting, and quarter-end financial reporting for new business.
Oversee weekly rate-setting analysis, assist in rate recommendations, and the implementation of rate changes.
Maintain and manipulate pricing models for the analysis of new and existing products and product features.
Monitor and analyze developments in actuarial techniques, laws, competitive landscape, and regulations applicable to annuity products and company operations.
Assess the financial implications of reinsurance strategies and provide recommendations on potential reinsurance treaties.
Assess profitability in varying economic environments on multiple bases, including IFRS, statutory, market consistent, and/or GAAP.
Ensure compliance with corporate risk and return targets.
Work closely with product development and competitive intelligence function.
Support product development of indexed annuities, via pricing various preliminary ideas, sensitivity testing products before launch, and filing support.

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