Actuary – Annuity Valuation

National Life Insurance Company; Addison (TX); On-site; USD 140,000 - 200,000; Full time

Job summary

National Life Group seeks a seasoned actuary to drive VM-22 Principle-Based Reserving implementation for non-variable annuities. You will provide actuarial expertise across methodology development, model specifications, data needs, and production readiness, collaborating with Actuarial, Pricing, Investments, and IT to ensure a controlled valuation framework.

The role emphasizes communicating complex concepts to technical and senior stakeholders, with onsite work four days per week (Mon–Thu) and

Qualifications

• Bachelor’s degree required in actuarial science or related field.
• FSA designation or Career ASA required or pursuing.
• 7+ years of actuarial experience with 4+ years in annuity valuation/pricing or reserving.
• Experience developing, testing, or implementing actuarial valuation models.
• Strong analytical and problem-solving skills; ability to interpret complex model results.

Responsibilities

• Serve as SME on VM-22, advising on regulatory requirements and modeling decisions.
• Lead VM-22 implementation across applicable annuity products and valuation processes.
• Develop and document VM-22 methodologies, assumptions, and implementation decisions.
• Provide actuarial expertise in asset modeling and investment interactions.
• Define model requirements and support development and validation of VM-22 calculations.
• Perform model testing, sensitivity analyses, and reasonableness assessments.
• Collaborate with governance and internal audit on controls and documentation.

Skills

Analytical thinking

Communication skills

Documentation skills

Education

Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Finance, or related field

FSA designation or Career ASA

Tools

PolySystems

VBA

Databricks

Excel

Job description

Come join one of America’s fastest-growing insurance companies. Since 1848, National Life Group has aimed to keep our promises, providing families with stability in good times and in bad. Throughout that history, we have provided peace of mind to those families as they plan their futures.

Our mission extends beyond the insurance and annuities policies that we offer. We strive to make the world a better place through our grants from our charitable foundation, paid volunteer time for our employees, environmentally sustainable and healthy workplaces, and events that promote the work of nonprofits in our own backyard.

We foster a collaborative environment with opportunities for growth and encourage our associates to live our values: Do good. Be good. Make good.

Please note that we do not offer visa sponsorship for this position.

Role Summary

We are seeking an actuary to play a key role in the implementation of VM-22 Principle-Based Reserving for non-variable annuity products. This role provides actuarial expertise across the design, development, testing, governance, and operationalization of the company’s VM-22 valuation framework, with a focus on establishing a well-controlled, repeatable, and sustainable valuation capability.

This position partners across Actuarial, Pricing, Investments, IT, and other stakeholders to translate VM-22 requirements into effective valuation processes. The role provides subject matter expertise across methodology and assumption development, model specifications, asset modeling, data requirements, testing, controls, documentation, and production readiness, and supports the successful transition of VM-22 from implementation into ongoing financial reporting.

The ideal candidate brings significant actuarial experience, strong technical and analytical capabilities, and the ability to communicate complex actuarial concepts and implementation considerations to technical stakeholders and senior management.

This position currently offers an onsite work schedule, with the expectation that you will be in the office four (4) days per week during onsite core days. Our current onsite core days are Monday, Tuesday, Wednesday, and Thursday. The work schedule type and core days are subject to change with advance notification and manager discretion.

Essential Duties and Responsibilities

• Serve as a subject matter expert on VM-22, providing technical guidance on regulatory requirements, valuation methodology, modeling considerations, and implementation decisions.
• Lead the implementation of VM-22 across applicable annuity products and valuation processes.
• Develop and document VM-22 methodologies, assumptions, actuarial judgments, and implementation decisions.
• Provide actuarial expertise in asset modeling, including asset cash flows, reinvestment assumptions, asset‑liability interactions, and investment strategy.
• Partner with stakeholders to define model requirements, support model development, and validate VM-22 calculations.
• Perform and review model testing, sensitivity analyses, benchmark comparisons, and reasonableness assessments.
• Partner with the valuation team to develop key actuarial assumptions through experience analysis and financial impact assessments.
• Partner with IT to implement scalable, controlled, and reliable processes for data validation, model inputs, valuation outputs, and production reporting.
• Analyze VM-22 reserve results, key drivers, and financial impacts, and communicate findings to actuarial leadership.
• Partner with Model Governance and Internal Audit on governance, controls, documentation, and review processes supporting audit, regulatory, and financial reporting requirements.
• Coordinate with Actuarial, Pricing, Investments, IT, and other stakeholders on implementation deliverables and dependencies.
• Lead the transition of VM-22 from implementation into a controlled, repeatable, and sustainable production valuation process.
• Lead initial production cycles and resolve issues identified following implementation.
• Identify opportunities to improve efficiency, automation, analytical capabilities, and control effectiveness following implementation.
• All other duties as assigned.

Minimum Qualifications

• Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Finance, or a related field.
• FSA professional designation or Career ASA.
• 7+ years of actuarial experience, including 4+ years of relevant experience in annuity valuation, statutory reporting, actuarial modeling, or principle-based reserving.
• Experience developing, testing, or implementing actuarial valuation models.
• Strong analytical and problem-solving skills, including the ability to investigate complex model results and identify underlying drivers.
• Experience working with actuarial modeling, data, or analytical platforms.
• Strong technical documentation skills, including the ability to clearly document methodology, assumptions, controls, and actuarial judgment.
• Strong communication skills with the ability to present complex actuarial concepts and implementation decisions to technical and senior management audiences.

Preferred Qualifications

• Experience with VM-22, VM-21, VM-20, or other principle-based reserving frameworks.
• Advanced proficiency with PolySystems, VBA, Databricks, and Excel.

At National Life Group, we view AI as an enabler of human potential. We use AI to help us work smarter, serve more clients, and keep our promises, while remaining a relationship-driven business where our people are our greatest strength.

All applicants are expected to:

• Leverage approved AI tools, where appropriate, to improve the efficiency, quality, and impact of their work.
• Stay curious and open to new AI-enabled ways of working.
• Exercise sound judgment by reviewing and validating AI-generated content.
• Maintain accountability for the accuracy, quality, fairness, and integrity of work products by adhering to National Life's AI guiding principles.
• Use AI responsibly and in accordance with company policies related to confidentiality, data privacy, security, compliance, retention, and intellectual property.

Core Competencies