Associate Actuary (Governance)

Transamerica; Cedar Rapids (IA); Hybrid; USD 128,000 - 165,000; Full time

Benefits offered by this job

Pension Plan

401k Match

Medical Insurance

Dental Insurance

Vision Insurance

Employee Discounts

Job summary

Transamerica in Cedar Rapids is seeking an Appointed Actuary to own governance and regulatory initiatives, reporting to the Director Actuarial with exposure to the Appointed Actuary and US and Group Chief Actuaries.

The role requires leadership, strong communication, and deep actuarial knowledge across Life, Health, Annuity, and Retirement products. Hybrid work with in-office three days per week.

Qualifications

• Bachelor’s degree in actuarial science or related field; 6 years of relevant experience, or Master’s with 4 years.
• FSA or equivalent designation preferred; ASA with 10 years acceptable in lieu of FSA.
• Strong leadership, judgment, organization and prioritization skills.
• Excellent communication of complex concepts to diverse audiences.

Responsibilities

• Oversight of assumption unlocking governance.
• Coordinate AMC topics and company-wide expense assumption.
• Annual reviews of regulatory changes and updating memos.
• Prepare AFR with asset adequacy testing, model updates, underwriting and risk management.

Skills

Leadership

Communication

Analytical thinking

Time management

Computer skills

Education

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

Job description

Job Description Summary

The Appointed Actuary team is looking for a talented and ambitious actuary to join the team and take ownership of actuarial governance and regulatory initiatives. This position will report to the Director Actuarial and have significant exposure to the Appointed Actuary and US and Group Chief Actuaries.

Responsibilities

• Oversight and shepherding of assumption unlocking governance
• Coordination of Assumptions & Methodology Committee (AMC) topics
• Ownership of the company-wide expense assumption
• Annual reviews of regulatory changes including updating actuarial memos and opinions
• Coordination of the Actuarial Function Report (AFR) detailing asset adequacy testing, assumption and model updates, underwriting, reinsurance, and risk management practices
• Support of actuarial regulatory projects including principle-based reserves (PBR), cash flow testing (CFT), C3P1, and related
• Support of Pricing and Underwriting Risk Committee (PURC) special projects
• Role has high level exposure to all Transamerica product lines and functional areas

Qualifications

• FSA or equivalent professional designation along with Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Economics or related field and 6 years of relevant experience. In lieu of Bachelor's, will accept Master's in a listed discipline and 4 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

• Familiarity with Model Change Management (MCM) financial metrics on multiple bases including Stat, Capital, CFT, IFRS17, and Pricing
• Solid understanding of key assumptions across Life, Health, Annuity, and Retirement products
• Strategic thinker with excellent analytical problem-solving skills and attention to detail

Working Conditions

• Hybrid Office Environment
• Occasional travel may be required

Compensation

• The Salary for this position generally ranges between $128,000 - $165,000 annually. This is a good faith estimate; actual starting pay is determined by qualifications, experience, geography, work location designation (in-office, hybrid, remote) and operational needs. Salary may vary above or below the stated amounts, as permitted by applicable law.
• Typically eligible for an Annual Bonus based on the Company Bonus Plan/Individual Performance and 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. This role is not eligible for immigration-related employment authorization sponsorship. This is a hybrid position requiring three days in office per week in one of our hubs. Relocation assistance will not be provided.

This job description is not a contract of employment nor for any specific job responsibilities. The Company may change, add to, remove, or revoke the terms of this job description at its discretion. Managers may assign other duties and responsibilities as needed. If accommodation is required to perform job functions, contact the HR Business Partner to evaluate the accommodation request.

What We Offer

For eligible employees, we offer a comprehensive benefits package designed to support both the personal and financial well-being of our employees.

Benefit Highlights

• Competitive Pay
• Bonus for Eligible Employees
• Pension Plan
• 401k Match
• Employee Stock Purchase Plan
• Tuition Reimbursement
• Disability Insurance
• Medical Insurance
• Dental Insurance
• Vision Insurance
• Employee Discounts
• Career Training & Development Opportunities