Int Product Actuarial Analyst

Transamerica • Cedar Rapids, IA

8d • $69,000 - $85,000 • Hybrid

About The Position

The Int Product Actuarial Analyst performs moderately complex calculations, modeling, reporting, risk, and compliance functions to support life product development. The role quantifies and qualifies results and performs actions required for sign-off before implementation. It uses custom and production administrative and illustration systems to support product design, pricing, testing, and operational needs.

The position is hybrid and requires three days per week (Tuesday–Thursday) in the office at a hub location in Cedar Rapids or Denver. Relocation assistance is not provided. The stated salary range is $69,000–$85,000 annually. The position is typically eligible for an annual bonus of 7.5%, subject to the Company Bonus Plan, individual performance, and company discretion.

Requirements

• Bachelor’s degree in actuarial science, mathematics, finance, or equivalent experience.
• Four years of experience in modeling, business systems analysis, or data analytics.
• Moderate understanding of actuarial concepts, including risk management and interest rate models.
• Experience supporting product design projects and knowledge of associated regulatory requirements.
• Moderate technical proficiency maintaining and enhancing policy administration systems, including rate tables.
• Strong analytical and reporting skills.
• Strong written and verbal communication skills.
• Strong organizational skills and ability to manage multiple priorities within deadlines.
• Moderate experience with MS Excel formulas and formula creation.
• Moderate experience with modeling software and programming languages, such as Access, SQL, or Visual Basic.
• Advanced ability to work independently and collaborate in a team environment.

Nice To Haves

• Experience with life administration systems, particularly CyberLife, LifePRO, or LifeComm.
• Knowledge of life products, including Term, Whole Life, Universal Life, Indexed Universal Life, and Variable Universal Life.
• Visual Basic or Excel macro-writing experience.
• SQL and Access experience.
• Product-design experience.
• Knowledge of applicable regulatory requirements.

Responsibilities

• Perform moderately complex actuarial calculations, data analytics, and business systems analysis using custom and production administrative and illustration systems.
• Align calculations and testing requirements with product/pricing designs and state and federal regulations; understand product and calculation specifications and numerical examples.
• Create and use formulas, macros, and tools to validate system alignment with product specifications.
• Develop and maintain tools for manual calculations and rate determination; manually calculate product features and benefits when system limitations exist, providing accurate values to operations partners.
• Sign off on product-related technical requirements, test plans, and user acceptance testing for projects of medium or limited scope.
• Use system navigation, transaction activity, tables, and other system features.
• Complete regular, periodic, and time-sensitive tasks accurately and meet deadlines.
• Extract and integrate data from various databases to analyze and reconcile financial or customer-impact reports for internal use.
• Support internal and external financial audits and controls by producing evidence of system calculation accuracy.
• Identify and implement process improvements and solutions.

Benefits

• Competitive pay
• Annual bonus for eligible employees; this position is typically eligible for a 7.5% annual bonus
• Pension plan
• 401(k) match
• Employee stock purchase plan
• Tuition reimbursement
• Disability insurance
• Medical insurance
• Dental insurance
• Vision insurance
• Employee discounts
• Career training and development opportunities
• Paid time off starting at 160 hours annually for employees in their first year of service
• Ten paid holidays per year
• Holistic wellness program with Wellness Coaching and Reward Dollars
• Paid parental leave of 15 days per calendar year for eligible employees with at least one year of service
• 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

What This Job Offers

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