Actuary

Actuary
The Actuary contributes to actuarial activities relating to management and distribution of surplus, statutory and tax reserving, asset adequacy analysis, asset-liability management, assumption setting, experience studies, pension plan design, benefit illustrations, and actuarial standards and policies. Under minimal supervision, this job requires compliance with actuary practices and continual monitoring of changing regulations to ensure consistent compliance and delivery of optimal solutions for both internal and external clients.

Key Responsibilities and Duties

• Conducts analysis, pricing and risk assessment to estimate financial outcomes of diverse scenarios and minimize risk.
• Analyzes and interprets results of catastrophic modeling software and makes recommendations to business leaders.
• Lends advice and consulting services to internal and external clients on policies, eligibility, rates and benefits.
• Develops probability tables based on analysis of statistical data and other pertinent information, while maintaining up-to-date knowledge on government and industry regulations affecting the business at large.
• Provides reports on regulatory changes and their impact on relevant programs.
• Ensures long-term profits and competitive rates through administering proper plans.

Qualifications

• 5 Years Required; 7 Years Preferred

• University (Degree), Preferred

Physical Requirements

• Physical Requirements: Sedentary Work

Preferred Education

• University (Degree)

Career Level
8IC

REQUIRED QUALIFICATION:

• 5 year of actuarial experience required

PREFERRED QUALIFICATIONS:

• 7 year of actuarial experience preferred
• FSA Preferred
• MG-ALFA, MS Office, Excel, VBA Macros
• Experience with Asset Liability Modeling and Valuation
• Experience with Life Insurance Products (Projections for Life Insurance products)
• Experience with Asset Adequacy Testing

ADDITIONAL JOB RESPONSIBILITIES:

• The role is a key player on the model-driven valuation team under the actuarial valuation department. It involves employing asset-liability models to determine statutory reserves and capital needs for TIAA's major lines of business (pension, after-tax annuity and life insurance), fulfilling valuation requirements under various regulations, and supporting internal audits, external exams and ad-hoc modeling-related projects.
• Analyzes model results and ensures valuation projections for pension and non-pension business meet all regulatory requirements and produce reasonable and appropriate results.
• Facilitates timely completion of year-end asset adequacy testing (Reg126, Reg127, Reg147, C3P1 and VM-21).
• Supports ad-hoc projects related to model updates and enhancements, experience studies and assumption setting, pricing peer review, implementation of new principle-based reserve regulations, etc.
• Keeps abreast of valuation regulation changes and developments.
• Develops good working relationships with manager, peers, other department professionals and business partners in company to enable effective delivery/completion of work product.

#LI-CS1

Base Pay Range: $95,600/yr. - $159,400/yr.

Actual base salary may vary based upon, but not limited to, relevant experience, time in role, base salary of internal peers, prior performance, business sector, and geographic location. In addition to base salary, the competitive compensation package may include, depending on the role, participation in an incentive program linked to performance (for example, annual discretionary incentive programs, non-annual sales incentive plans, or other non-annual incentive plans).

Company Overview

TIAA is the leading provider of financial services in the academic, research, medical, cultural and government fields. We offer a wide range of financial solutions, including investing, banking, advice and education, and retirement services.

COVID-19 Vaccination

TIAA requires all U.S. employees to be fully vaccinated against COVID-19 and provide documentation of full vaccination, unless you qualify for an accommodation as determined by TIAA consistent with applicable law.

Benefits and Total Rewards

The organization is committed to making financial well-being possible for its clients, and is equally committed to the well-being of our associates. That's why we offer a comprehensive Total Rewards package designed to make a positive difference in the lives of our associates and their loved ones. Our benefits include a superior retirement program and highly competitive health, wellness and work life offerings that can help you achieve and maintain your best possible physical, emotional and financial well-being. To learn more about your benefits, please review our Benefits Summary.

Equal Opportunity

We are an Equal Opportunity/Affirmative Action Employer. We consider all qualified applicants for employment regardless of age, race, color, national origin, sex, religion, veteran status, disability, sexual orientation, gender identity, or any other protected status.

Read more about the Equal Opportunity Law here.

Accessibility Support

TIAA offers support for those who need assistance with our online application process to provide an equal employment opportunity to all job seekers, including individuals with disabilities.

If you are a U.S. applicant and desire a reasonable accommodation to complete a job application please use one of the below options to contact our accessibility support team:

Phone: (800) 842-2755

Email: [email protected]

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