Product Development Associate Actuary - IUL | Fully Onsite

Allianz Insurance•Saint Louis Park, MN

22d•Onsite

About The Position

At Allianz Life, we are driven by our mission – we secure your future – and by our common goal of caring for tomorrow. We care for our employees by promoting an inclusive culture where everyone has the opportunity to grow and be rewarded for their success. We care for our customers by creating new products that help them protect their families and pursue their retirement goals. We care for our community by giving time, resources, and donations. And we care for the future by supporting sustainability, protecting the local environment, and promoting equality in our communities. You will help lead the development, pricing, and strategic direction of Indexed Universal Life (IUL) products. Acts as one of our experts on IUL mechanics, index crediting structures, and actuarial modeling, ensuring products are competitive, sustainable, and aligned with business strategy. You will report to a credentialed senior leader on the Product Development team.

Requirements

8+ years actuarial experience with background in life product development, including IUL.
Four-year degree required in Actuarial Science, Mathematics, Physics, Economics, Engineering, or related field
Fellowship in the Society of Actuaries (FSA).
Expertise with actuarial modeling platforms and pricing methodologies.
Ability to translate technical modeling insights into clear product strategy recommendations.
Experience applying SNFL, 7702, and AG 49 requirements within product design, modeling, and pricing frameworks.
Experience with underwriting program analysis and assessing impacts to mortality trends
Ability to work both independently and collaboratively, ensuring long‑term project success across cross‑functional teams.
You must be legally authorized to work in the U.S. without requiring immigration sponsorship now or in the future. This includes holders of H-1B, H4, L-1, L-2, TN, OPT, CPT, and other nonimmigrant visas.

Responsibilities

Design and refine IUL products, including index crediting strategies, cap/participation structures, multipliers, fixed account design, riders, and survivorship variations.
Build, enhance, and validate pricing models using advanced actuarial techniques, ensuring accurate representation of product behavior.
Set and maintain assumptions for mortality, persistency, expenses, funding patterns, rider use, and index crediting performance.
You will develop pricing strategies that balance regulatory expectations, risk management considerations, and competitive market needs.
Incorporate requirements related to Standard Nonforfeiture Law (SNFL), Sections 7702 and AG 49 into product and pricing models, ensuring compliant and sustainable design parameters.
Conduct sensitivity testing, scenario modeling, and profitability analysis to evaluate product levers and support product positioning.
Collaborate with Investments to assess the feasibility and sustainability of index strategies, including option‑budget and hedging considerations.
Collaborate with Underwriting and Reinsurers to assess effectiveness and impacts of our underwriting practices
Monitor IUL market trends to guide product mix strategy, identify innovation opportunities, and ensure products stay competitive.
Partner with Product, Distribution, and Marketing to align product designs with customer needs and sales strategies.
Mentor actuarial staff on modeling, pricing frameworks, and IUL concepts..
Utilization of artificial intelligence tools and resources (e.g. generative AI)