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About The Company
Company, a Fortune 250 company with over 10,000 employees, provides advice and solutions that help empower Americans to take charge of their financial lives with confidence. Our core business areas — Life Insurance, Annuities, Retirement Plan Services and Group Protection — focus on supporting, preserving and enhancing over 17 million customer’s lifestyles and retirement outcomes.
Headquartered in Radnor, Pennsylvania, Company is the marketing name for Company (NYSE: Company) and its affiliates. The company had $253 billion in assets under management as of December 31, 2017.
Ranked one of the Best Large Employers in America by Forbes magazine, Company makes a serious investment in our employees’ futures through a broad range of wealth accumulation and protection plans, health and wellness programs, and career development resources designed to help each individual reach their personal and professional goals.
The primary purpose of this role is pricing support for new variable annuities and in-plan guarantees associated with RPS plans. The ADP participant will contribute to the design, modeling, assumption setting, analysis, and state filing for new riders and contracts. The participant will have the opportunity to present analysis on projects to various stakeholders, including product management, pricing review, and risk management. As an Associate Actuary in the Actuarial Development Program (ADP), you will be a more experienced participant in the program. You will interact and support many functional units within and outside Insurance Solutions as you apply prior experience as well as continue to develop into a technical leader in the organization.
Perform pricing analysis using vendor or internally developed software, and analyze the pricing results for new/redesigned annuity contract and rider benefits
Performs the ongoing rate setting and profit reporting for the RPS in-plan guarantee
Determine appropriate assumptions, and how to model new product features.
Develops pricing strategies and provide consultation/clarification on actuarial models and risk issues.
Collaborate with product development team on product design to meet or exceed profitability and sales objectives.
Directs, develops, and/or runs complex pricing models and analysis for annuity contracts and rider benefits.
Present results of analysis to team members, key business partners, and management
Begins to lead actuarial pricing projects and proactively identifies challenges and resolutions.
Maintains awareness of developments in the actuarial industry
Analyze risk management strategies, and various reserve and capital requirements.
Identify/evaluate potential changes in product design, investment options,valuation and/or capital requirements, and the benefits and limitations of hedging strategies on product risk and profitability.
Actuarial/ Technical Support
Maintain existing actuarial models and tools, and proactively identify and implement improvements. Develop tools and support product/ relationship managers according to business needs.
Provide actuarial support for state filing or compliance, as needed
Participate in ad hoc projects related to product development, implementation, inforce management, and corporate risk management initiatives such as ERM and capital management.
Prepare reports and presentations summarizing pricing analysis and results, including documentation of assumptions and methodology.
The Actuarial Development Program (ADP) at Company is an industry-leading program that demonstrates Company Financial’ s commitment to creating highly qualified business leaders. As an ADP participant, you’ll be able to explore your unique interests while developing the essential actuarial, technical, management, communication, and leadership skills you need to succeed.
Program participants receive up to 175 hours of company time to study per exam sitting. Company purchases required exam materials and pays exam fees in advance for each program participant.
Undergraduate degree in Actuarial Science, Applied Mathematics, Statistics, Economics, Computer Science, or other quantitative major is required.
At least 5 SOA exams passed.
3-5+ years of experience in Actuarial positions that directly aligns with the specific responsibilities of the position.
Strong work experience
Demonstrated leadership experience
Strong communication and problem solving skills
Ability to quickly learn and apply new skills and information
Strong curiosity and the ability to generate new ideas
This position may be subject to Company’s Political Contribution Policy. An offer of employment may be contingent upon disclosing to Company the details of certain political contributions. Company may decline to extend an offer or terminate employment for this role if it determines political contributions made could have an adverse impact on Company’s current or future business interests, misrepresentations were made, or for failure to fully disclose applicable political contributions and or fundraising activities.
Company (“Company”) is an Equal Opportunity employer and, as such, is committed in policy and practice to recruit, hire, compensate, train and promote, in all job classifications, without regard to race, color, religion, sex (including pregnancy), age, national origin, disability, sexual orientation, gender identity and expression, veterans status, or genetic information. Applicants are evaluated on the basis of job qualifications. If you are a person with a disability that impedes your ability to express your interest for a position through our online application process, or require TTY/TDD assistance, contact us by calling Company.
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