Sr. Product Actuarial Analyst

Transamerica • Cedar Rapids, IA

8d • $88,000 - $110,000 • Hybrid

About The Position

The Sr. Product Actuarial Analyst performs complex calculations, modeling, reporting, risk, and compliance functions in support of life product development. The role quantifies and qualifies results and performs actions required for sign-off before implementation.

This position conducts advanced actuarial calculations, data analytics, and business systems analysis using custom and production administrative and illustration systems. It aligns calculations and testing with product designs and regulatory requirements, develops calculation specifications and numerical examples, validates system alignment, and collaborates with Technology and Operations on projects. The role provides final sign-off on technical requirements and testing, supports sensitive production issues and data-impact analysis, and may supervise projects, audits, controls, and process improvements. It also mentors and trains junior team members.

This is a hybrid position requiring three days per week (Tuesday through Thursday) in the office at a hub location in Cedar Rapids or Denver. Relocation assistance is not provided. The stated annual salary range is $88,000–$110,000, and the role is typically eligible for a discretionary annual bonus of 10%.

Requirements

• Bachelor’s degree in actuarial science, mathematics, finance, or equivalent experience.
• Six years of experience in modeling, business systems analysis, or data analytics.
• Strong understanding of complex actuarial concepts, including risk management, interest rate models, and payout models.
• Moderate experience supporting product-design projects and knowledge of associated regulatory requirements.
• Advanced technical proficiency maintaining and enhancing policy administration systems, including rate tables.
• Advanced analytical and reporting skills.
• Strong written and verbal communication skills.
• Strong organizational skills to manage multiple priorities within deadlines.
• Advanced experience and skills in using and creating MS Excel formulas.
• Advanced experience and skills with modeling software and programming languages, such as Access, SQL, and Visual Basic.
• Expert skill working independently and collaborating 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 advanced actuarial calculations, data analytics, and business systems analysis using custom and production administrative and illustration systems.
• Align complex calculations and testing requirements with product and pricing designs and state and federal regulations; create and deliver calculation specifications and numerical examples.
• Create and use complex formulas, macros, and tools to validate system alignment with product specifications.
• Collaborate with Technology and Operations to ensure accurate understanding of product specifications for projects of moderate complexity.
• Provide final sign-off on product-related technical requirements, test plans, and user acceptance testing.
• Represent the role as a key member of project leadership teams and provide status reporting to senior leadership.
• Demonstrate advanced understanding of system navigation, transaction activity, tables, and other system features.
• Assist Legal/Compliance, Finance, and Operational Risk with sensitive production issues and resolutions.
• Analyze and reconcile data into financial or customer-impact reports for leadership, legal/compliance, audit/controls, operational risk, or technology use.
• May supervise financial-related projects or serve as an actuarial representative on project teams, including internal and external financial audits and controls, by producing evidence of system calculation accuracy.
• Provide supervision in identifying and implementing process-improvement opportunities.
• Mentor, train, and assist junior team members as needed.

Benefits

• Competitive pay.
• Bonus for eligible employees; this position is typically eligible for an annual bonus of 10%, based on the Company Bonus Plan and individual performance, at the company’s discretion.
• 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, typically mirroring New York Stock Exchange holidays.
• Be Well Company holistic wellness program, including Wellness Coaching and Reward Dollars.
• Fifteen days of paid parental leave per calendar year for eligible employees with at least one year of service at the time of birth or child placement.
• 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: Senior