Associate Actuary, Life Valuation

National Life Insurance Company Limited; Addison, Montpelier (TX, VT); On-site; USD 130,000 - 180,000; Full time

Job summary

National Life Group in Addison, TX seeks an Associate Actuary to calculate, analyze, and report reserves for Indexed Universal Life, monitor policyholder behavior and profitability, and support GAAP/statutory reporting. The role collaborates with Pricing, FP&A, Inforce, Modeling COE, and Tax teams.

Requires FSA or Career ASA with extensive life-insurance experience, strong modeling software proficiency (PolySystems, MG-ALFA, GGY-AXIS), and SQL/DataBricks skills.

Qualifications

• FSA designation from the SOA with 7+ years in Life Insurance, or Career ASA with 10+ years in Life Insurance

Responsibilities

• Perform valuation on Life blocks focusing on Principle-Based Reserves (PBR)
• Perform experience studies, update assumptions and quantify PBR impacts
• Analyze business trends and reserve movements
• Update annual PBR report and communicate with external auditors and regulators
• Support the production and oversight of reserves and other actuarial items – Statutory, GAAP, and Tax
• Familiar with GAAP accounting such as FAS97 and FAS133 and communicate analysis to financial reporting stakeholders
• Share analysis with Pricing, FP&A, Inforce Management, Modeling COE, and Tax teams

Skills

Actuarial modeling

Analytical prowess

Proactive attitude

Education

FSA designation (SOA)

Bachelor's Degree in Actuarial Science or related field

Tools

PolySystems

MG-ALFA

GGY-AXIS

SQL

DataBricks

Microsoft Access

Job description

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.

Role Summary

The Associate Actuary will be responsible for calculating, analyzing, reporting, and explaining reserves and other actuarial financial statement items for the Indexed Universal Life. The individual will monitor policyholder behavior and profitability of the business and will also provide actuarial support to recurring and special projects. The Associate Actuary is expected to have a detailed knowledge of statutory valuation requirements and advanced GAAP accounting issues for life insurance products.

This position currently offers an onsite work schedule, with the expectation that you are in the office four (4) days per week during onsite core days . Our current onsite core days are Monday, Tuesday, Wednesday, and Thursday . The work schedule type and core days are subject to change with advance notification and manager discretion.

Essential Duties and Responsibilities

• Perform valuation on Life blocks with the focus on Principle-Based Reserves (PBR)
• Perform experience studies, recommend assumption updates, and quantify impacts for PBR business
• Conduct analysis of business trends and reserve movements
• Update annual PBR report and communicate with external auditors and regulators regarding the PBR model
• Support the production and oversight of reporting for reserves and other actuarial items – Statutory, GAAP, and Tax
• Familiar with GAAP accounting such as FAS97 and FAS133 and clearly communicate analysis to financial reporting stakeholders
• Proactively share analysis and provide insight into our business with Pricing, FP&A, Inforce Management, Modeling Center of Excellence, and Tax areas

Minimum Qualifications

• FSA designation from the Society of Actuaries with a minimum 7 years of actuarial experience within the Life Insurance sector, or Career ASA with a minimum 10 years of experience within the Life Insurance sector
• Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Economics or related field
• At least 5 years of actuarial experience within actuarial modeling or actuarial valuation & financial reporting
• Proficiency in actuarial modeling software (such as PolySystems, MG-ALFA, GGY-AXIS)
• Skilled in database tools like SQL, DataBricks, Microsoft Access, etc.
• Comprehensive understanding of actuarial valuation requirements and techniques
• Proven analytical prowess and problem-solving capabilities
• A proactive attitude towards continuous improvement and challenging established norms

Preferred Qualifications

• Comprehensive understanding of actuarial governance and control frameworks
• Demonstrated collaborative spirit and organizational synergy
• Excellent written and verbal communication skills

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.

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.

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

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