Associate Actuary – Annuity Valuation

Transamerica; Cedar Rapids (IA); Hybrid; USD 128,000 - 145,000; Full time

Benefits offered by this job

Competitive Pay

Annual Bonus

Pension Plan

401k Match

Tuition Reimbursement

Paid Time Off

Employee Assistance Program

Job summary

Transamerica is seeking an Actuary in Cedar Rapids to lead and perform actuarial valuation and financial reporting for annuity products. This role involves statutory valuation, capital analysis, and delivering accurate financial results.

The ideal candidate has a Bachelor's degree in a relevant field and significant experience. This hybrid position requires three days in office each week. Competitive compensation includes a salary range from $128,000 to $145,000 plus bonuses.

Qualifications

• 5 years of relevant experience in actuarial science.
• Demonstrates high quality judgment and organization skills.
• Ability to communicate complex concepts effectively.

Responsibilities

• Perform statutory valuation and reporting for annuity products.
• Produce and review financial results for accuracy.
• Collaborate with stakeholders to present and explain results.

Skills

Leadership

Mathematics

Analytical skills

Communication

Computer skills

Education

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

FSA or equivalent professional designation

Master's in listed discipline with 4 years experience

Tools

MG-ALFA

Python-based tools

Job description

Job Description Summary

Leads and performs actuarial valuation and financial reporting for annuity products, including variable annuities and registered index-linked annuities (RILA). This role is responsible for statutory valuation, capital and reserve analysis, and delivering accurate, timely financial results. Partners with cross-functional teams to analyze model outputs, explain drivers of results, and ensure the integrity of actuarial reporting. May provide guidance to team members and contribute to ongoing improvements in actuarial modeling and reporting processes.

Responsibilities

• Perform statutory valuation and reporting, including reserve calculations and capital analysis for annuity products (VA, RILA)
• Produce and review monthly, quarterly, and annual financial results, ensuring accuracy and timeliness
• Analyze and explain drivers of change in results (e.g., quarter-over-quarter variance, model updates, assumption changes)
• Execute and interpret results from actuarial models, ensuring outputs are reasonable and validated prior to distribution
• Support cash flow testing and contribute to broader financial reporting (including potential GAAP exposure)
• Collaborate with internal/external stakeholders to present results and communicate key insights to management and auditors/regulators
• Identify opportunities to enhance modeling processes, controls, and reporting efficiency
• Provide 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
• Manage studies that underlie actuarial assumptions and provide assumptions and data to others
• May support creation of systems specifications, contracts, commission structures, and other actuarial aspects of product development
• Monitor and analyze 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

• Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Economics or related field and 5 years of relevant experience
• FSA or equivalent professional designation. In lieu of FSA will accept ASA or equivalent professional designation and 8 years of relevant experience
• In lieu of Bachelor's, will accept Master's in a listed discipline and 4 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

• Utilize actuarial modeling platforms (e.g. MG-ALFA, Python-based tools, or similar systems) to perform valuation analysis

Working Conditions

• This is a hybrid position requiring three days (Tuesday-Thursday) in office per week in one of our hub locations (Cedar Rapids or Denver)
• Relocation assistance will not be provided for this position
• Occasional travel < 10%
• Limited travel may be required

Compensation

The salary for this position generally ranges between $128,000 - $145,000 annually. Additionally, this position is typically eligible for an Annual Bonus of 15% based on the Company Bonus Plan/Individual Performance and is at the Company’s discretion. Salary may vary above and below the stated amounts, as permitted by applicable law.

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
• 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 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