Life Actuary Associate – Life Pricing

USAA•San Antonio, NC

10d•Hybrid

About The Position

USAA is seeking a talented Life Actuary Associate to join the Life Company Pricing Team. This team is responsible for offering competitive term and whole life insurance products to members, collaborating with product management and other actuarial areas. This role is eligible for the actuarial student program and involves performing actuarial analyses for new product development, future result projections, existing product repricing, and financial strength determination. The role is remote eligible in the continental U.S. with occasional business travel, but individuals within a 60-mile radius of a USAA office are expected to work on-site four days a week. Relocation assistance is not provided.

Requirements

Bachelor’s degree OR 4 years of related experience (in addition to the minimum years of experience required) may be substituted in lieu of degree. (Total of 6 years of experience without bachelor’s degree)
2 years relevant actuarial, business or analytical experience.
Attainment of Society of Actuaries Associateship OR completed all requirements for attainment of their ASA except for attending the Associateship Professionalism Course (APC).
Experience in developing and delivering Innovative Actuarial Analyses/Processes leveraging programs such as Microsoft Excel, SAS, or other data analysis applications.
Experience leveraging actuarial projections to gain insights and recommendations to address business challenges.
Expert knowledge of and demonstrated success at developing, executing, and refining strategies that support productive, efficient, successful, and mission-critical experiences.
Experience in implementing and sustaining change/improvements (change champion).
Extensive experience with using customer feedback to improve a process or experience.
Demonstrated ability to lead with influence.

Nice To Haves

US military experience through military service or a military spouse/domestic partner
ASA (Associate of the Society of Actuaries) Designation
1 or more years of experience pricing life insurance products
1 or more years of experience working with Moodys AXIS modeling software

Responsibilities

Performs moderately complex to complex work assignments utilizing actuarial modeling software driven models for pricing, valuation, and/or risk management.
Responsible for data compilation, analytical support, and data integrity to include entering data and tables, running models, and generating reports.
Participates in developing recommendations for model adjustments and improvements, when appropriate.
Identifies and resolves issues pertaining to model projections and data analysis.
Navigates obstacles that arise to deliver the work product.
Serves as a resource to team members on escalated issues of a routine to moderately complex nature.
Serves as a key resource on projects involving cross functional actuarial areas.
Leads smaller projects through concept, planning, execution, and implementation phases with minimal guidance (e.g., leading annual assumption/model updates).
Produces charts, tables, and reports to explain calculations and proposals.
Maintains and develops procedures supporting key processes, including but not limited to: actuarial models, tools leveraged in complying with laws and regulations, reports, etc.
Maintains proper price level, price structure, data availability and other requirements to achieve profitability and competitive goals.
Identifies critical assumptions to monitor and suggest timely remedies to correct or prevent unfavorable trends.
Identifies sources of gain and loss by product and assumption with presentations to direct supervisor.
Tests impact of assumptions and the appropriate premiums, interest margins, reserves, and cash values for profitability and viability of new and existing products.
Ensures risks associated with business activities are effectively identified, measured, monitored, and controlled in accordance with risk and compliance policies and procedures.