Associate Actuary - Traditional Life Valuation and Modeling

Job Family

 

Actuarial

 

 

Who We Are

 

 

Transamerica has been helping people feel better about the future for more than 100 years. We provide investment, retirement, and life insurance solutions to more than 11 million customers throughout the U.S. But the way we see it, our responsibility goes beyond our clients' accounts. We're in the business of helping people live well and empowering them to create a better tomorrow through the financial and health-related habits they form today. We help people prepare by providing solutions that consider the whole picture.

 

 

What We Do

 

 

Transamerica is organized by lines of business (Life Insurance, Annuities, Mutual Funds, Retirement Plans, Employee Benefits, and Financial Assets), which are supported by Transamerica Corporate (Corporate Development; Finance; Internal Audit; Legislative, Regulatory & Policy; Office of the CEO; People, Places & Brand; Risk; and Technology).

 

 

Job Description Summary

 

Directs and provides leadership in the design, pricing, and implementation of insurance products. Oversees a small team within Traditional life actuarial valuation and modeling. Will be the senior manager of the LA Traditional life block which is one of the blocks most visible by senior management and one of the first blocks in the country to convert to Principles' Based Reserve.Job Description

 

 

Responsibilities

 

• Provides reports and analyses to management on sales, persistency and mortality or morbidity experience for various product lines, reserve adequacy, risk management information, or various other similar items.
• Manages studies that underlie actuarial assumptions and provides assumptions and data to others
• Supports the team converting the block to an AXIS valuation and projection model by providing reserve and assumption analysis
• Presents financial results and explain earnings variations on the block quarterly.
• May support creation of systems specifications, contracts, commission structures, and other actuarial aspects of product development.
• Monitors and analyzes developments in actuarial techniques, laws and regulations applicable to company operations, and competitive developments in the marketplace.
• May represent the company on industry and professional committees and/or with regulators.
• May supervise a small team of employees.

 

 

Qualifications

 

• FSA or equivalent professional designation along with Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Economics or related field and 6 years of relevant experience.
• In lieu of Bachelor's, will accept Master's in a listed discipline and 4 years of relevant experience.
• In lieu of FSA will accept ASA or equivalent professional designation and 10 years of relevant experience.
• Demonstrates high quality leadership, judgment, organization and prioritization skills.
• Effectively communicates, both verbally and in writing, advanced mathematical and analytical concepts to various audiences.
• Works well under pressure and within time constraints to effectively accomplish individual and team objectives.
• Excellent computer skills.

 

 

Preferred Qualifications

 

• Advanced PC and technical skills, including spreadsheets, statistical programs and database applications
• Knowledge of actuarial projection software (MoSes, AXIS or equivalent)
• Effective oral and written communication skills, demonstrating the ability to convey complex mathematical and analytical concepts to various audiences
• Extensive knowledge of Traditional life insurance products
• Good working knowledge of IFRS (GAAP), Statutory and Tax valuation principles along with financial reporting requirements including FAS 60, FAS 97
• Ability to contribute effectively within large project teams
• Ability to work on multiple concurrent projects with a high level of focus and organization
• Finds creative solutions to standardize and automate processes
• Effectively deals with change and maintains effectiveness when working under tight deadlines and stressful conditions
• Demonstrates high quality leadership, judgment, organizational and prioritization skills
• Power user of Excel including VBA and considerable expertise with database applications (Access, Oracle, SQL, or equivalent technology).

 

 

**Please note that the compensation information that follows is a good faith estimate for this position only and is provided pursuant to applicable pay transparency and compensation posting laws. It is estimated based on what a successful candidate might be paid in certain Company locations.**

 

 

Compensation:

 

 

The Salary for this position generally ranges between $130,000 - $150,000 annually. This range is an estimate, based on potential qualifications and operational needs. Salary may vary above and below the stated amounts, as permitted by applicable law.

 

 

Bonus Eligibility:

 

 

This position is also typically eligible for an Annual Bonus based on the Company Bonus Plan/Individual Performance and is at Company Discretion.

 

 

Working Conditions:

 

• Normal office environment.
• Limited travel may be required

 

 

What We Offer

 

 

For eligible employees, we offer a comprehensive benefits package designed to support both the personal and financial well-being of our employees.

 

 

Compensation Benefits

 

 

• Competitive Pay
• Bonus for Eligible Employees

 

 

Benefits Package

 

 

• Pension Plan
• 401k Match
• Employee Stock Purchase Plan
• Tuition Reimbursement
• Disability Insurance
• Medical Insurance
• Dental Insurance
• Vision Insurance
• Employee Discounts
• Career Training & Development Opportunities

 

 

Health and Work/Life Balance Benefits

 

 

• Paid Time Off starting at 160 hours annually for employees in their first year of service.
• Ten (10) paid holidays per year (typically mirroring the New York Stock Exchange (NYSE) holidays).
• Be Well Company holistic wellness program, which includes Wellness Coaching and Reward Dollars
• Parental Leave - fifteen (15) days of paid parental leave per calendar year to eligible employees with at least one year of service at the time of birth, placement of an adopted child, or placement of a foster care child.
• Adoption Assistance
• Employee Assistance Program
• College Coach 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
• Peer Recognition Program (BRAVO)

 

 

Inclusion & Diversity

 

 

Transamerica has made a strong commitment to inclusion and diversity, and we are proud to be an organization where all perspectives are valued. Transamerica has earned recognition for its strong efforts year-over-year, including from the Human Rights Campaign's Foundation Corporate Equality Index, the Diversity Best Practices Inclusion Index, and Seramount's "100 Best Companies" list.

 

 

In addition, as part of Transamerica's commitment to maintaining an inclusive workplace, the company sponsors employee-driven Employee Resource Groups (ERGs), which are formed around a shared interest or a common characteristic of diversity. ERGs are open to all employees and provide a supportive environment for raising diversity awareness and promoting inclusive behavior.

 

 

Giving Back

 

 

Transamerica believes our responsibilities extend beyond our corporate walls. That's why we created the Aegon Transamerica Foundation in 1994. Through a combination of financial grants and the volunteer commitment of our employees, this foundation supports nonprofit organizations focused on the education, health, and well-being of the communities where we live and work.

 

 

https://www.transamerica.com/why-transamerica/aegon-transamerica-foundation

 

 

Transamerica's Parent Company

 

 

Aegon acquired the Transamerica business in 1999. Aegon's roots go back more than 175 years to the first half of the nineteenth century. Since then, Aegon has grown into an international company, with businesses in the Americas, Europe, and Asia. Today, Aegon is one of the world's leading financial services organizations, providing life insurance, pensions, and asset management. As a leading global investor and employer, the company seeks to have a positive impact by addressing critical environmental and societal issues, with a focus on climate change and inclusion and diversity.

 

 

Websites

 

 

Transamerica | Protecting Your Wealth and Health since 1906

 

 

Aegon Group Corporate Website | Aegon

 

 

Management Team

 

 

Transamerica Leadership - Standing For Financial Innovation Since 1906 | Transamerica