Actuary/Sr. Actuary-ALM

National Life Insurance Company Limited; Addison, Montpelier (TX, VT); Vor Ort; USD 161.000 - 237.000; Vollzeit

Zusammenfassung

National Life Group, headquartered in Montpelier, VT with a major operation in Addison, TX, seeks an Actuary Senior Actuary – ALM to own the enterprise ALM model and drive asset and liability projections, reinvestment strategy, and policyholder behavior analysis. This role partners with senior leaders to deliver robust ALM insights across platforms and business lines.

The successful candidate will have 10+ years of actuarial experience (8+ in ALM), an SOA credential, and hands-on MG-ALFA

Qualifikationen

• 10+ years of progressive actuarial experience, 8+ years in ALM or asset modeling for Senior Actuary level; 5+ years in ALM work.
• Fellow or Associate of the Society of Actuaries (FSA or ASA).
• Bachelor’s degree in Actuarial Science, Mathematics, Finance, or related quantitative discipline.
• Hands-on experience building actuarial projection models on an open platform (MG-ALFA preferred).

Aufgaben

• Own the design, development, and ongoing enhancement of the enterprise ALM model, including asset projection, reinvestment and disinvestment strategy, crediting strategy, and dynamic policyholder behavior.
• Model the general account investment portfolio including fixed income, structured assets, alternatives, and derivatives, and maintain economic scenario sets for ALM analysis.
• Produce, analyze, and explain ALM results, including duration, convexity, key rate exposures, cash flow matching, and earnings sensitivity.
• Translate strategic questions into modeling specifications and turn output into clear answers for senior leadership and ALCO.
• Support asset adequacy testing, ORSA, capital, and statutory reporting workstreams relying on ALM modeling.
• Collaborate with Investments on reinvestment/disinvestment assumptions and strategic asset allocation.
• Work with Enterprise Risk Management on ALM risk metrics, limits, and stress testing, and with Capital Management on projections.
• Support hedging programs for indexed products, including option budgets and indexing strategies.
• Establish and enforce best practices for ALM modeling governance and documentation.
• Perform other duties as assigned.

Kenntnisse

ALM modeling

Asset projection

Cross-functional collaboration

Effective communication

Senior leadership support

Ausbildung

SOA (FSA/ASA)

Bachelor’s in Actuarial Science/Math/Finance

Tools

MG-ALFA

Economic scenario generators

Jobbeschreibung

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.

The Actuary / Senior Actuary – ALM will report directly to the Head of the Modeling Center of Excellence (MCOE) and will serve as the modeling owner of National Life Group’s asset-liability management framework. In this role, you will build, maintain, and advance the asset, liability, and scenario modeling capabilities that support ALM analysis across all lines of business, quantifying how the interaction of assets, liabilities, product features, and investment strategy drives the balance sheet. You will work in close partnership with the AVP & Actuary – Enterprise ALM Strategy, providing the modeling and analytical rigor behind enterprise ALM insight, along with Enterprise Risk Management, Investments, Capital Management, and the broader modeling team to ensure ALM results are accurate, well-controlled, and clearly understood. You will be expected to deliver robust and innovative modeling solutions across ALM, asset adequacy testing, interest rate risk analysis, and other special project initiatives.

KEY RESPONSIBILITIES

• Own the design, development, and ongoing enhancement of the enterprise ALM model, including asset projection, reinvestment and disinvestment strategy, crediting strategy, and dynamic policyholder behavior.
• Model the general account investment portfolio including public and private fixed income, structured assets, alternatives, and derivatives, and maintain the economic scenario sets used across deterministic and stochastic ALM analysis.
• Produce, analyze, and explain ALM results, including duration, convexity, key rate exposures, cash flow matching, and earnings and surplus sensitivity under a range of interest rate and equity scenarios.
• Partner with the AVP & Actuary – Enterprise ALM Strategy to translate strategic questions into modeling specifications, and turn model output into clear answers for senior leadership and ALCO.
• Support the asset adequacy testing, ORSA, capital, and statutory reporting workstreams that rely on ALM modeling.
• Partner with Investments on reinvestment and disinvestment assumptions, and strategic asset allocation studies, bringing the modeled liability perspective to those discussions.
• Partner with Enterprise Risk Management on ALM risk metrics, limits, and stress and scenario testing, and with Capital Management on capital and liquidity projections.
• Support modeling of the hedging program for indexed products, including option budget, and index crediting strategies.
• Establish, review, and continuously improve best practices for ALM model development, production, validation, and documentation, consistent with model governance standards and applicable Actuarial Standards of Practice.
• Perform all other duties as assigned.

JOB REQUIREMENTS

• 10+ years of progressive actuarial experience for the Senior Actuary level, or 8+ years for the Actuary level, including at least 5 years in ALM, asset modeling, or asset-intensive actuarial work.
• Fellow or Associate of the Society of Actuaries (FSA or ASA)
• Bachelor’s degree in Actuarial Science, Mathematics, Finance, or related quantitative discipline.
• Hands-on experience building and maintaining actuarial projection models on an open platform (MG-ALFA preferred).
• Working knowledge of asset modeling, including fixed income cash flows, structured assets, prepayment and default assumptions, and reinvestment and disinvestment strategy.
• Understanding of interest rate risk measurement and management concepts such as duration, convexity, key rate durations, cash flow matching, and immunization.
• Experience with economic scenario generators and the design of stochastic scenario sets (a plus)
• Understanding of the modeling frameworks that consume ALM output, including asset adequacy testing / cash flow testing, ORSA, RBC (including C-3), VM-20, and economic capital preferred.
• Working knowledge of Statutory regulations for Life and Annuity products with a preference for indexed products and reinsurance concepts.
• Exceptional communication and presentation skills with the ability to translate technical modeling into strategic business insight for senior management and non-actuarial partners.
• Demonstrated ability to build strong cross-functional relationships, particularly with Investments, Risk, and Finance partners.

PREFERRED QUALIFICATIONS

• Experience modeling derivatives and hedging programs supporting indexed life and annuity products, including options, swaps, and swaptions.
• Experience modeling private credit, structured assets, or other less liquid asset classes.
• Experience presenting to an ALCO, investment committee, or similar governance forum.
• CFA designation or comparable investment credential.

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.

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.

Base Pay Range. The base pay range for this position is the range National Life reasonably and in good faith expects to pay for the position taking into account the wide variety of factors, including: prior experience and job-related knowledge; education, training and certificates; current business needs; and market factors. The final salary or hourly wages offered may be outside of this range based on other reasons and individual circumstances.

Additional Compensation and Benefits. The total compensation package for this position may also include a full range of medical, financial, and/or other benefits (including 401(k) eligibility and various paid time off benefits, such as vacation, sick time, and parental leave), dependent on the position offered. The successful candidate may also be eligible to participate in National Life’s discretionary annual incentive programs, subject to the rules governing such programs. If hired, the employee will be in an "at-will position" and National Life reserves the right to modify base salary (as well as any other discretionary payment or compensation or benefit program) at any time, including for reasons related to individual performance, company or individual department/team performance, and market factors.

National Life is accepting applications for this role on an ongoing basis and the role remains open until filled.

Salary Pay Range

$161,250 - $236,500 USD

National Life Group® is a trade name of National Life Insurance Company, Montpelier, VT – founded in 1848, Life Insurance Company of the Southwest, Addison, TX – chartered in 1955, and their affiliates. Each company of National Life Group is solely responsible for its own financial condition and contractual obligations. Life Insurance Company of the Southwest is not an authorized insurer in New York and does not conduct insurance business in New York. Equity Services, Inc., Member FINRA/SIPC, is a Broker/Dealer and Registered Investment Adviser affiliate of National Life Insurance Company. All other entities are independent of the companies of National Life Group.

Fortune 1000 status is based on the consolidated financial results of all National Life Group companies.

Voluntary Self-Identification

For government reporting purposes, we ask candidates to respond to the below self-identification survey.Completion of the form is entirely voluntary. Whatever your decision, it will not be considered in the hiringprocess or thereafter. Any information that you do provide will be recorded and maintained in aconfidential file.

As set forth in National Life Insurance Company’s Equal Employment Opportunity policy,we do not discriminate on the basis of any protected group status under any applicable law.

If you believe you belong to any of the categories of protected veterans listed below, please indicate by making the appropriate selection.As a government contractor subject to the Vietnam Era Veterans Readjustment Assistance Act (VEVRAA), we request this information in order to measurethe effectiveness of the outreach and positive recruitment efforts we undertake pursuant to VEVRAA. Classification of protected categoriesis as follows:

A "disabled veteran" is one of the following: a veteran of the U.S. military, ground, naval or air service who is entitled to compensation (or who but for the receipt of military retired pay would be entitled to compensation) under laws administered by the Secretary of Veterans Affairs; or a person who was discharged or released from active duty because of a service-connected disability.

A "recently separated veteran" means any veteran during the three-year period beginning on the date of such veteran's discharge or release from active duty in the U.S. military, ground, naval, or air service.

An "active duty wartime or campaign badge veteran" means a veteran who served on active duty in the U.S. military, ground, naval or air service during a war, or in a campaign or expedition for which a campaign badge has been authorized under the laws administered by the Department of Defense.

An "Armed forces service medal veteran" means a veteran who, while serving on active duty in the U.S. military, ground, naval or air service, participated in a United States military operation for which an Armed Forces service medal was awarded pursuant to Executive Order 12985.