Sr. Actuary II

Principal Financial Group • Des Moines, IA

8d • Hybrid

About The Position

This role leads the Variable Annuity (VA) actuarial team within Retirement & Income Solutions (RIS), with overall actuarial leadership and accountability for business outcomes across both Registered Index-Linked Annuities (RILA) and Traditional VA products. Reporting to the RIS Chief Actuary, you are a key member of the actuarial leadership team, shaping strategy and driving aligned execution. This is a highly visible role at the center of one of RIS’s most strategic and dynamic businesses. You will lead a team with dedicated leaders for pricing and financial reporting, integrating those perspectives into a cohesive, decision‑ready view of the business. The role combines product strategy, complex risk management, and team leadership, with direct influence on business results and future direction.

Requirements

• Bachelor's degree or equivalent required
• A Fellow of the Society of Actuaries or global equivalent, or Enrolled Actuary plus 10+ years actuarial experience required
• Knowledge of pertinent laws, regulations, the Actuarial Standards of Practice promulgated by the Actuarial Standards Board, and the Code of Professional Conduct of the AAA and the SoA is required
• In-depth knowledge of area of actuarial specialty and broad knowledge of several business areas required
• Must maintain continuing education requirements as specified by the SOA or AAA
• Strong communication skills and ability to translate complex analysis into clear insights.
• Demonstrated ability to lead through experienced actuarial leaders and operate at a strategic level

Nice To Haves

• Expertise in using actuarial models, data, and analytical tools to drive business decisions, is preferred.
• Ability to integrate perspectives across pricing, financial reporting (US GAAP / VM‑21), and risk management into a cohesive view of business performance
• Strong understanding of VA / RILA products and market risk drivers, with the ability to translate into business decisions
• Proven effectiveness partnering across functions, including product, investments, finance, and risk
• Track record of improving models, analytics, and processes to enhance decision-making

Responsibilities

• Lead actuarial oversight of the VA business, including pricing, risk management, and in-force performance, while driving decisions that balance growth, profitability, and capital efficiency across VA and RILA.
• Evaluate key drivers (markets, policyholder behavior, hedging) and translate insights into actionable business strategies.
• Partner cross-functionally with product, investments, finance, and risk to influence strategy, align on assumptions, and drive results.
• Lead and develop a team of ~7, including direct oversight of pricing and financial reporting, while ensuring alignment on results and business implications.
• Build bench strength and develop future leaders, operating effectively within a matrixed environment and influencing across actuarial, finance, and business partners.
• Set direction across pricing, assumptions, modeling, and analytics.
• Provide actuarial oversight of financial reporting (U.S. GAAP and VM‑21), partnering with the reporting lead to ensure results are accurate and actionable.
• Integrate perspectives across pricing, reporting, and hedging to deliver a consistent view of business performance.
• Ensure rigor in methodologies and governance, while advancing key process and analytics improvements.

Benefits

• Flexible Time Off (FTO) is provided to salaried (exempt) employees and provides the opportunity to take time away from the office with pay for vacation, personal or short-term illness.
• Pension Eligible

What This Job Offers

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