Associate Actuary

Principal International; Des Moines (IA); Hybrid; USD 127,000 - 171,000; Full time

Job summary

Principal Asset Management is seeking an Associate Actuary to join our Bermuda actuarial team in the United States. You will support pricing, underwriting, and transaction analysis for Pension Risk Transfer (PRT) and Term Life, plus FP&A, capital management, and risk management initiatives.

The role is based in the U.S. with quarterly travel to Bermuda (1–2 weeks per quarter) and a hybrid work arrangement at our Des Moines, Iowa office.

Qualifications

• Bachelor's degree or equivalent required.
• A Fellow of the Society of Actuaries, or global equivalent, or Enrolled Actuary plus 6-8 years actuarial experience required.
• Knowledge of pertinent laws, regulations, the Actuarial Standards of Practice and Code of Professional Conduct is required.
• Basic knowledge of business field supported.
• Must maintain continuing education requirements as specified by SOA or AAA.
• Good communication skills and knowledge of spreadsheet and database or similar PC software packages, or ability to learn, are preferred.

Responsibilities

• Support pricing, underwriting, and transaction analysis for Pension Risk Transfer (PRT) and Term Life, including experience studies, profitability analysis, and management reporting.
• Assist in FP&A processes including budgeting, forecasting, earnings analysis, business planning, and performance monitoring.
• Support BSCR and SBA models governance, validation, and enhancement.
• Perform actuarial and financial analysis related to capital management, risk management, and strategic initiatives.
• Develop and maintain actuarial models, reporting tools, and analytical processes.

Skills

Actuarial knowledge

Strong communication

Regulatory knowledge

Continuing education compliance

Education

Bachelor's degree or equivalent

Fellow of the SOA or global equivalent or Enrolled Actuary + 6-8 years actuarial experience

Tools

Spreadsheet

Database software

Job description

What You'll Do

We're looking for an Associate Actuary to join our Bermuda actuarial team. In this role, you'll support a wide range of actuarial and financial initiatives across Pension Risk Transfer (PRT) underwriting, financial planning and analysis (FP&A), capital management, and risk management activities. Working closely with business leaders in both Bermuda and the U.S., you'll provide analytical support for strategic transactions, financial forecasting, regulatory initiatives, and special projects.

This role is based in the United States and requires quarterly travel to Bermuda(approximately 1-2 weeks per quarter).

You’ll Have the Opportunity To:

• Support pricing, underwriting, and transaction analysis for Pension Risk Transfer (PRT)andTerm Life,including experience studies, profitability analysis, and management reporting.

• Assist in the financial planning and analysis (FP&A) process, including budgeting, forecasting, earnings analysis, business planning, and financial performance monitoring.

• Support the maintenance, validation, governance, and enhancement of the Bermuda Solvency Capital Requirement (BSCR) and Scenario Based Approach (SBA) models.

• Perform actuarial and financial analysis related to capital management, risk management, asset-liability management, and strategic initiatives.

• Develop and maintain actuarial models, reporting tools, and analytical processes to improve efficiency, accuracy, and insight generation.

• Assist with Bermuda regulatory reporting, governance requirements, and actuarial documentation.

• Conduct research and analysis regarding emerging industry trends, regulatory developments, and their potential impact on the business.

• Collaborate with actuarial, finance, risk management, investment, and reinsurance teams across the organization.

Operating at the intersection of financial services and technology, Principal builds financial tools that help our customers live better lives. We take pride in being a purpose-led firm, motivated by our mission to make financial security accessible to all. Our mission, integrity, and customer focus have made us a trusted leader for more than 140 years!

Who You Are

• Bachelor's degree or equivalent required
• A Fellow of the Society of Actuaries, or global equivalent, or Enrolled Actuary plus 6-8 years actuarial experience required
• Knowledge of pertinent laws, regulations, the Actuarial Standards of Practice promulgated by the Actuarial Standards Board, and the Code of Professional Conduct of the AAA and the SoA is required
• Basic knowledge of business field supported
• Must maintain continuing education requirements as specified by either SOA or AAA
• Good communication skills and knowledge of spreadsheet and database or similar PC software packages, or ability to learn, are preferred

Salary Range Information

Salary ranges below reflect targeted base salaries. Non-sales positions have the opportunity to participate in a bonus program. Sales positions are eligible for sales incentives, and in some instances a bonus plan, whereby total compensation may far exceed base salary depending on individual performance. Actual compensation for all roles will be based upon geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer.

Salary Range (Non-Exempt expressed as hourly; Exempt expressed as yearly)

$127000 - $171000 / year

Time Off Program

Flexible Time Off (FTO) is provided to salaried (exempt) employees and provides the opportunity to take time away from the office with pay for vacation, personal or short-term illness. Employees don’t accrue a bank of time off under FTO and there is no set number of days provided.

Pension Eligible

Yes

Work Environments

This role offers hybrid (blending at least three office days in a typical workweek) in our corporate office in Des Moines, Iowa.

Work Authorization/Sponsorship

At this time, we're not considering applicants that need any type of immigration sponsorship (additional work authorization or permanent work authorization) now or in the future to work in the United States. This includes, but IS NOT LIMITED TO: F1-OPT, F1-CPT, H-1B, TN, L-1, J-1, etc. For additional information around work authorization needs please use the following links. Nonimmigrant Workers and Green Card for Employment-Based Immigrants

Investment Code of Ethics

For Principal Asset Management positions, you’ll need to follow an Investment Code of Ethics related to personal and business conduct as well as personal trading activities for you and members of your household. These same requirements may also apply to other positions across the organization.

Experience Principal

At Principal, we value connecting on both a personal and professional level. Together, we’re imagining a more purpose-led future for financial services – and that starts with you. Our success depends on the unique experiences, backgrounds, and talents of our employees. And we support our employees the same way we support our customers: with comprehensive, competitive benefit offerings crafted to protect their physical, financial, and social well-being. Check out our careers site to learn more about our purpose, values and benefits.

Principal is an Equal Opportunity Employer

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.

Posting Window

We will accept applications for 3 full days following the Original Posting Date, after which the posting may remain open or be removed based upon applications received. If we choose to post the job again, we will accept additional applications for at least 1 full day following the Most Recently Posted Date. Please submit applications in a timely manner as there is no guarantee the posting will be available beyond the applicable deadline.

Original Posting Date

9/11/2026

Most Recently Posted Date

9/11/2026

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