Associate Actuary

Venerable•West Chester, PA

3d•Hybrid

About The Position

This role will take ownership of actuarial risk analysis and reporting for defined areas of the risk management function, with a primary focus on evaluating the company’s financial position, including capital sufficiency and surplus, under adverse stress scenarios. As an Associate Actuary you will be a key individual contributor, applying actuarial techniques and judgment to support stress testing, financial risk assessment, and related internal and external reporting. The position also contributes to process improvement and automation efforts and may provide guidance or oversight to junior actuarial staff or interns. Primary Responsibilities: Prepare quarterly stress testing analysis of potential company risk exposures under a variety of extreme economic scenarios Prepare risk management reports for cedants as required by reinsurance agreements Ad-hoc analysis of potential sources of financial risk or opportunity arising from items such as new reinsurance agreements, product features, market exposures, or policyholder behavior Risk reporting to management, investors, 3rd parties and regulators including contributing content to Venerable’s Own Risk and Solvency Assessment (“ORSA”) Work with Finance team to review and help explain financial results and understand related assumptions Provide modeling support for the interaction of asset sales and purchases with hedging and liquidity programs Apply actuarial techniques and business knowledge to effectively deliver on projects / assignments including showing initiative to build specialized knowledge Improve, automate and document existing processes over time Work assigned may include complex, unstructured, or non-routine tasks. Could include drilling through a complex data, system or model with high level guidance. Thorough review of own or of others' work. Summarization / communication / presentation of results to a broader team. Preparation of documentation May supervise and/or train actuarial staff / interns May include communication both within and outside of Venerable such as with auditors, actuarial outsourcing partners or other vendors Key Qualifications: Bachelors degree in Mathematics, Actuarial Science, Finance or related business discipline ASA or newly credentialed FSA 5-6+ years financial, insurance industry, or actuarial experience Excellent computer skills: Excel, databases, actuarial projection/valuation software, programming (e.g. R, VBA, Python, SQL) Strong analytical skills or advanced knowledge of actuarial concepts; ability to use this knowledge to lead/develop solutions to ad-hoc requests or issues Solid understanding of insurance products (especially variable annuities), statutory accounting, regulations, or insurance company structure from prior experience in roles such as pricing, modeling, valuation, risk management, inforce management, experience studies Understanding of hedging concepts and derivatives Detail oriented and strong analytical problem-solving skills to make informed decisions Leverages strong oral and written communication skills to readily and effectively collaborate with peers, managers, shares information and asks questions Ability to manage competing priorities and deadlines Strong desire to learn and grow; willing to rotate to other actuarial roles #LI-DP1 Venerable Values: Every position at Venerable has responsibility for living out the company's values as described here: We are Courageous - We think critically, ask "why?" and seek out creative solutions. We are Curious - We take calculated risks, learn from out failures, and challenge traditional ways of thinking. We are Connected - We are connected to each other, our customers and our community. Please note: The use of AI tools (such as ChatGPT or similar platforms) during interviews is not permitted without the prior approval of Venerable, as the use of such tools may interfere with company confidentiality, misrepresent a candidate’s skills and experience or otherwise conflict with Venerable’s hiring policies. If you are selected for an interview and a reasonable accommodation is needed, please notify the Venerable Human Resources recruiter aligned to the open position in which you are interviewing for. If Venerable, in its sole discretion, determines that AI is being used during an interview without prior approval, Venerable reserves the right to end the interview early and/or disqualify a candidate. Competitive Compensation, Benefits, Current Hybrid Work Schedule and a Generous PTO Package! Introduce Yourself To Our Team Of Recruiters Are you interested in joining the Venerable team but don't see a job posting that aligns with your goals? Introduce yourself to our recruiters for consideration in future positions below. Would you like to be alerted if a new job is posted? Set a custom job alert that aligns with your career aspirations. Click on "Job Alerts" in the top right corner of this screen to get started. Not seeing it? You have to be signed in to your Candidate page. To do this click on "Sign In" in the top right corner of page. Founded in 2018, Venerable owns and manages legacy annuity business acquired from other entities. Created by an investor group led by affiliates of Apollo Global Management, LLC, Crestview Partners, Reverence Capital Partners, and Athene Holdings, Ltd. Venerable is a business with well-established, strategic investors, experienced in successfully building and growing insurance businesses with patient, long-term capital. We provide innovative risk transfer solutions to companies with variable annuity blocks who seek to rebuild a secure financial future. We will be the answer for companies focused on long term prosperity. Together, we are visionaries. We embrace change, overcome challenges and act like owners. We inspire, support and empower one another. We thrive on trust, decisiveness and transparency. We are committed to dismantling and eliminating systemic racism and invested in ensuring change is constantly evolving. As an organization, Venerable stands by our core values and consistently works to sustain an equitable environment where diverse perspectives and backgrounds are core to ensuring organizational success. Our Equity, Diversity, and Inclusion program involves colleagues from throughout our organization and is focused on five core topics to drive change - Education and Perspective Seeking, Training, Investments, Volunteerism, and Human Resource Practices. We are also proud members of CEO Action for Diversity & Inclusion, participants in supporting events in the communities in which we operate, and contributors to the Society of Black Actuaries and Federation of Iowa Insurers Race and Insurance working group.

Requirements

Bachelors degree in Mathematics, Actuarial Science, Finance or related business discipline
ASA or newly credentialed FSA
5-6+ years financial, insurance industry, or actuarial experience
Excellent computer skills: Excel, databases, actuarial projection/valuation software, programming (e.g. R, VBA, Python, SQL)
Strong analytical skills or advanced knowledge of actuarial concepts; ability to use this knowledge to lead/develop solutions to ad-hoc requests or issues
Solid understanding of insurance products (especially variable annuities), statutory accounting, regulations, or insurance company structure from prior experience in roles such as pricing, modeling, valuation, risk management, inforce management, experience studies
Understanding of hedging concepts and derivatives
Detail oriented and strong analytical problem-solving skills to make informed decisions
Leverages strong oral and written communication skills to readily and effectively collaborate with peers, managers, shares information and asks questions
Ability to manage competing priorities and deadlines
Strong desire to learn and grow; willing to rotate to other actuarial roles

Responsibilities

Prepare quarterly stress testing analysis of potential company risk exposures under a variety of extreme economic scenarios
Prepare risk management reports for cedants as required by reinsurance agreements
Ad-hoc analysis of potential sources of financial risk or opportunity arising from items such as new reinsurance agreements, product features, market exposures, or policyholder behavior
Risk reporting to management, investors, 3rd parties and regulators including contributing content to Venerable’s Own Risk and Solvency Assessment (“ORSA”)
Work with Finance team to review and help explain financial results and understand related assumptions
Provide modeling support for the interaction of asset sales and purchases with hedging and liquidity programs
Apply actuarial techniques and business knowledge to effectively deliver on projects / assignments including showing initiative to build specialized knowledge
Improve, automate and document existing processes over time
Work assigned may include complex, unstructured, or non-routine tasks. Could include drilling through a complex data, system or model with high level guidance. Thorough review of own or of others' work. Summarization / communication / presentation of results to a broader team. Preparation of documentation
May supervise and/or train actuarial staff / interns
May include communication both within and outside of Venerable such as with auditors, actuarial outsourcing partners or other vendors