Associate Actuary

Voya Financial • Boston, MA

18h • Hybrid

About The Position

This position is within the Retirement Assumptions and Cash Flow Testing team. The Associate Actuary will be responsible for performing experience studies for Retirement products, overseeing the calculation, analysis, and setting of assumptions, primarily for deferred annuity and payout annuity products. The role also involves performing Cash Flow Testing (CFT) analysis and supporting actuarial memorandums. Additionally, the Associate Actuary will be involved in financial reporting for legacy closed-block annuity business, partnering closely with valuation, modeling, and finance teams. The role will participate in special initiatives from an assumption’s perspective and drive enhancements to processes and controls, including greater use of automation, analytics, and AI to improve efficiency, consistency, and scalability of recurring work.

Requirements

• Bachelor’s 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 (especially Excel, Access, Visual Basic)
• Strong analytical skills and advanced knowledge of actuarial statistics/assumptions; ability to use this knowledge to lead/develop solutions to ad-hoc requests or issues
• Ability to challenge current methodologies/approaches and develop more efficient and effective solutions
• Strong understanding of insurance products and insurance company operations
• Ability to communicate effectively with manager, other team members and partners/ customers

Responsibilities

• Lead experience studies and support actuarial assumption development with respect to the company’s Retirement business
• Perform and oversee Cash Flow Testing analysis for Retirement annuity products
• Support preparation of annual actuarial memorandums and related documentation
• Design and maintain controls and governance around assumptions and CFT processes
• Partner with valuation and finance teams to support actuarial analysis and reporting
• Partner with valuation, ALM, finance, data, and IT teams to support assumption settings and actuarial memorandum work
• Leverage advanced analytics and AI‑enabled tools (e.g., predictive analytics and Copilot‑supported workflows) to enhance experience studies and assumption analysis
• Manage and/or provide technical guidance to staff
• Contribute to special projects and regulatory initiatives, as needed

Benefits

• Health, dental, vision and life insurance plans
• 401(k) Savings plan – with generous company matching contributions (up to 6%)
• Voya Retirement Plan – employer paid cash balance retirement plan (4%)
• Tuition reimbursement up to $5,250/year
• Paid time off – including 20 days paid time off, nine paid company holidays and a flexible Diversity Celebration Day
• Paid volunteer time — 40 hours per calendar year

What This Job Offers

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