Associate Actuary - Pricing

American Equity • Des Moines, IA

10d • Onsite

About The Position

American Equity Investment Life Insurance Company is a leading provider of annuity solutions designed to help clients protect and grow retirement income. Part of Brookfield Wealth Solutions, we partner with more than 40,000 financial professionals and help fund over half a million retirements nationwide. Recognized by Newsweek as one of America’s Most Trustworthy Companies and named a Top Workplace in Iowa, American Equity fosters a collaborative and purpose-driven culture where employees are empowered to ignite their passion and help shape the future of financial services.
Headquartered in Des Moines, Iowa, with satellite offices in Charlotte, NC and New York, NY, American Equity provides opportunities for employees to support work across the enterprise, including our sister company, American National, headquartered in Houston, Texas.
The Actuarial Student Program (ASP) at American Equity is an industry-leading program that demonstrates American Equity’ s commitment to creating highly qualified business leaders. As an ASP participant, you’ll be able to explore your unique interests while developing the essential actuarial, technical, management, communication, and leadership skills you need to succeed. The Actuarial Student Program includes a series of rotations, typically every 18-24 months. For each rotation, roles are available in different functional areas of the department. Experience gained will enable participants to become well-rounded actuaries with knowledge that may include Product Development, Pricing, Reinsurance, Inforce Management, Valuation, Financial Projections, Risk Management, Financial Planning & Analysis, Experience Studies, Modeling and Data Analytics & Actuarial Transformation.
ASP participants are expected to pass the Society of Actuaries’ exams at a prescribed pace. The program is designed to support you as you work towards your FSA and provide the training and resources necessary to become a well-rounded actuarial leader.
Additional Program Highlights:
Highly competitive compensation package with salary increases and bonuses upon successful exam completion
Social and training opportunities to enhance skills, network with ASP participants and build long-lasting industry relationships
Dedicated leaders and mentors to assist with career development
Work with actuarial and data science software and technologies including MG-ALFA, Python, R, and Tableau
Generous study time allowances for each exam sitting
Payment and/or reimbursement of actuarial exam fees, materials, review courses, and seminars taken during the program
GENERAL PURPOSE OF THE JOB:
The Associate Actuary provides pricing support and analysis for new and existing products. Assist in the design and creation of pricing models and analysis as well as documentation of approach, results, and potential risks. Work with product development team to implement modeling approach into production models.

Requirements

• Bachelor’s degree (B.A.) from four-year college or university in actuarial science, math or other related field; plus a minimum of three (3) years of progressively responsible actuarial experience; or equivalent combination of education and/or experience.
• Must have experience working with MS Excel and MG-ALFA.
• R and/or any other coding is desirable.

Nice To Haves

• Associate of the Society of Actuaries (ASA) designation preferred.

Responsibilities

• Performs feasibility analysis of new product ideas and existing product changes
• Build pricing models using MG-ALFA/Integrate that will require significant creativity and custom coding to assess a variety of unique products and product features
• Asses the profitability and risks within the products through sensitivity testing, assumption review, and other approaches using an established framework
• Create documentation and communicate findings including profitability, modeling approach, and potential risks within new and existing annuity product concepts
• Participate in & contribute to product ideation process including discussions regarding potential future product concepts
• Assist the Product & Pricing team with implementation of new designs in production models
• Contributes to department-wide process improvement efforts, including training product team on company process improvement program tools and methodologies, identifying inefficiencies and developing and prioritizing corrective actions
• Collaborate with ALM, valuation, finance, tax, hedging, legal, and various other partners as part of the model development process to ensure pricing analysis accounts for all key elements involved in new business modeling.
• Supports the modernization of existing statutory reserve calculation and reporting processes for pricing projects.
• Performs actuarial work on a range of projects.
• Completes actuarial career development work as assigned.

Benefits

• Highly competitive compensation package with salary increases and bonuses upon successful exam completion
• Social and training opportunities to enhance skills, network with ASP participants and build long-lasting industry relationships
• Dedicated leaders and mentors to assist with career development
• Work with actuarial and data science software and technologies including MG-ALFA, Python, R, and Tableau
• Generous study time allowances for each exam sitting
• Payment and/or reimbursement of actuarial exam fees, materials, review courses, and seminars taken during the program

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level