FBS Mexico / US Life Insurance Actuary

Farmers Group Inc.; United States; On-site; USD 110,000 - 170,000; Full time

Benefits offered by this job

Competitive compensation

Performance-based bonuses

Comprehensive benefits

Ongoing training and development

Job summary

Farmers Insurance is seeking an experienced actuary to lead financial projections for U.S. product liability cashflows. You will develop models, test governance, and provide strategic recommendations aligned with business goals.

The role requires deep actuarial expertise, cross-functional collaboration, and mentorship of junior staff, with a focus on high-quality outputs and regulatory awareness.

Qualifications

• 6+ years of experience in actuarial roles.
• Experience with actuarial projection software MG-ALFA or Axis/Profit.
• Proficiency in Python, R, SAS or similar.
• Strong understanding of actuarial modeling.
• Familiarity with US Life/Annuity product designs and features.
• Ability to analyze complex data and develop robust assumptions.

Responsibilities

• Collaborate with stakeholders to resolve complex actuarial issues and produce financial projections.
• Oversee project workflows and ensure timely, accurate delivery of actuarial deliverables.
• Suggest improvements to assumptions, procedures, and programs; align with business objectives.
• Oversee integration of new/updated products into financial projection systems and maintain controls.
• Mentor junior actuarial staff and stay informed on industry trends and regulatory changes.

Skills

MG-ALFA

Axis

Profit

Python

R

SAS

Actuarial modeling

US Life/Annuity concepts

Data analysis

Alpha database modeling

Education

High School Diploma or equivalent

Bachelor's degree preferred

ASA designation required

FSA courses preferred

Life insurance experience preferred

US statutory/IFRS 17 knowledge preferred

Tools

MG-ALFA

Axis

Profit

Job description

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36466

Farmers– where ambition meets opportunity.

Farmers is known for more than its unforgettable jingle – it’s a team with a passion for purpose and making a real difference in people’s lives. Farmers employees deliver peace of mind when it matters most. The organization’s results‑driven, high‑performance culture thrives on creativity, accountability and bold solutions. Here, growth isn’t just a goal – it’s a way of life for both the organization and every individual on the team. Farmers employees tackle challenges head‑on, learn from every experience and measure their impact on the customers who trust them.

Join usand help power the success of Farmers. As a team member, you’ll collaborate with Farmers’ award‑winning workforce, benefit from a culture of innovation and support and contribute to their mission of delivering protection and peace of mind to millions of U.S. customers.

This position oversees actuarial functions with a focus on financial projections of U.S. product liability cashflows. The role focuses on model development, testing, governance and consistency among various model stakeholders. This position leverages in-depth actuarial knowledge and understanding of the business to solve more complex issues and deliver strategic recommendations that align with business objectives. The position performs work independently while receiving guidance from a direct people leader and guiding more junior staff.

Essential Job Functions

• Collaborates with stakeholders, teams, and other departments to resolve more complex actuarial issues. Guides the preparation of financial projections to enable leadership to assess financial implications and overall impact of business decisions. Accountable for timely and accurate delivery of actuarial deliverables. Interprets data and formulas to extract valuable insights for management. Analyzes operational performance and presents findings and recommendations for optimization. May represent the actuarial department with external stakeholders.
• Independently develops and implements solutions to more complex actuarial issues. Oversees project workflows, provides robust feedback to stakeholders and management, and ensures timely and effective completion of work. Delivers on plans and priorities while guiding projects and/or teams to achieve successful outcomes and business objectives.
• Advocates for improvements to assumption formulas, procedures, and programs. Anticipates the impact of changes and ensures recommendations align with broader business objectives.
• Oversees the integration of new and updated products into financial projection system. Ensures actuarial modeling systems comply with controls and standards including updates for IT, product, and regulatory changes.
• Stays informed about industry trends, emerging actuarial practices, and regulatory changes to contribute effectively to work within team, department, or across departments. Acts as a subject matter specialist to mentor and train less experienced actuarial staff by providing guidance on fundamental actuarial principles and practices. Performs other duties as assigned.

Education Requirements

High School Diploma or equivalent is required. Bachelors degree is preferred but not required. Associate of the Society of Actuaries (ASA) or equivalent designation required. Two Fellow of the Society of Actuaries (FSA) courses preferred. Life insurance industry experience preferred. Experience with US statutory regulations or IFRS 17 preferred.

Experience Requirements

• 6+ years of experience working in relevant roles
• Advance experience working with actuarial projection software like MG‑ALFA or equivalent (Axis or Profit)
• Experience working with Python, R, SAS or similar
• Strong understanding of actuarial modeling
• Familiarity with U.S. Life/Annuity product designs and features.
• Able to analyze complex data, interpret trends, and develop actuarial models and assumptions.
• Deep understanding on Financial Modeling within Alpha database

Benefits

This position offers a competitive compensation and benefits package designed to support your wellbeing, growth, and work‑life balance. While specific benefits may vary by country and employee level, offerings generally include competitive salary opportunities, performance‑based bonuses, comprehensive benefits, and ongoing training and development resources.

Important Hiring Conditions and Disclosures

By applying for this position, candidates acknowledge and agree that:

• Personal Data Processing: The personal data provided during the recruitment and selection process will be collected, processed, and retained for legitimate recruitment and compliance purposes, in accordance with applicable data protection and privacy laws and FBS internal policies.
• Legal Authorization to Work: Employment with FBS is conditional upon the candidate having valid, local legal authorization to work in the country where the role is based at the time of hire. FBS does not sponsor or obtain work authorization unless explicitly stated.
• Exclusivity of Employment and Conflict of Interest: Upon acceptance of an offer and during employment with FBS, employees will not be permitted to engage in parallel employment, professional activities, or paid work for other entities. Any ownership, partnership, directorship, or participation in other businesses or companies must be fully disclosed and formally reviewed in accordance with FBS internal conflict‑of‑interest and external engagement policies prior to the start date or as soon as such circumstances arise.

Failure to comply with these conditions may impact the hiring decision or employment continuation.

About Farmers Insurance

Farmers Insurance® and Farmers® are tradenames for a group of insurers providing insurance for automobiles, homes and small businesses and a wide range of other insurance and financial services products. Farmers Insurance Exchange, the largest of the three primary insurers that make up Farmers Insurance, is recognized as one of the largest U.S. companies on the 2025 Fortune 500 list. For more information about Farmers Insurance, visit Farmers.com.