Actuary (Level 2) - Appointed Actuary team

Transamerica; Cedar Rapids (IA); Hybrid; USD 160,000 - 180,000; Full time

Benefits offered by this job

Pension Plan

401(k) Match

Employee Stock Purchase Plan

Tuition Reimbursement

Job summary

Transamerica is seeking a qualified professional for an Actuarial role in Cedar Rapids, Iowa. The candidate will manage actuarial functions, oversee product line profitability, and ensure compliance with regulations.

Ideal candidates will hold an FSA designation or equivalent along with a Bachelor's in a relevant field, and possess strong leadership and analytical skills. The position offers a hybrid working environment with a competitive salary.

Qualifications

• 7 years of relevant experience, or 5 years with a Master's degree.
• Demonstrates effective communication of advanced concepts.
• Works well under pressure.

Responsibilities

• Leads interpretation of actuarial information for management.
• Monitors profitability by product line.
• Ensures compliance with regulations.

Skills

Leadership

Analytical skills

Communication

Organization

Computer skills

Education

FSA or equivalent professional designation

Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Economics or related field

Tools

Mathematical modeling software

Microsoft Excel

Job description

Job Description Summary

Manages one or more actuarial functions for a product line or corporate process. May evaluate new product ideas and pricing and maintenance of existing products. May direct the design, pricing, and implementation of insurance products.

Responsibilities

• Leads the preparation and interpretation of actuarial information for presentation to management.
• Monitors profitability by line of business and/or product and develops supporting reports and/or analyses.
• Maintains the product line or corporate process to comply with various state and federal regulations.
• Manages studies that underlie actuarial assumptions and provides assumptions and data to others.
• 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. Recommends appropriate reactions to these developments.
• Provides guidance and advice regarding pricing rates, modeling methodology, or reserving and related matters.
• Serves as a key resource for completion of one or more major recurring projects during the course of the year.
• Represents the company on industry and professional committees and/or with regulators.
• Supervises a team of employees.

Qualifications

• FSA or equivalent professional designation along with Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Economics or related field and 7 years of relevant experience. In lieu of Bachelor's, will accept Master's in a listed discipline and 5 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

• Proficient knowledge of asset adequacy testing.
• Proficient knowledge of annual statement and similar regulatory requirements.
• Programming skills.

Working Conditions

• Hybrid office environment.
• Limited travel may be required.

Compensation

The salary for this position generally ranges between $160,000 - $180,000 annually. Please note that the salary range is a good faith estimate for this position and actual starting pay is determined by several factors including qualifications, experience, geography, work location designation (in‑office, hybrid, remote) and operational needs. Salary may vary above and below the stated amounts, as permitted by applicable law. Additionally, this position is typically eligible for an annual bonus based on the company bonus plan/individual performance and is at the company’s discretion.

Applicants must possess legal authorization to work for our company in the U.S. without the need for immigration, sponsorship or otherwise serving as an employer of record for immigration employment purposes. At this time, this role is not eligible for immigration‑related employment authorization sponsorship.

Benefits

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
  • 401(k) 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 paid holidays per year (typically mirroring the New York Stock Exchange holidays).
  • Be Well Company holistic wellness program, which includes Wellness Coaching and Reward Dollars.
  • Parental Leave – fifteen 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
  • 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