Sr. Product Actuarial Analyst

Transamerica • Cedar Rapids, IA

7d • Hybrid

About The Position

Perform complex calculations, modeling, reporting, risk, and compliance functions to support life product development. Quantify and qualify results and perform actions required for sign-off before implementation. This role uses actuarial calculations, data analytics, and business systems analysis to ensure systems align with product specifications and regulatory requirements. It works with Technology, Operations, Legal/Compliance, Finance, Operational Risk, and project teams, provides technical sign-off, and supports leadership reporting, process improvement, and mentoring.

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 MS Excel formula use and creation.
• 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 using spreadsheets for cross-functional use.
• 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 component of project leadership teams and provide status reports 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.
• 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.
• Identify and implement process improvement opportunities.
• Mentor, train, and assist junior team members as needed.

Benefits

• Competitive pay.
• Annual bonus eligibility; the position is typically eligible for a 10% bonus based on the Company Bonus Plan and individual performance, at the company’s discretion.
• Benefits package.
• 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.
• Paid time off 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