Int Actuary Modeler
Transamerica
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Benefits offered by this job
Job summary
Transamerica in Cedar Rapids, IA seeks an experienced modeling professional to build and analyze sophisticated models for insurance products, investments and portfolios to improve risk-adjusted returns. The role requires actuarial, financial, statistical, data science and balance sheet modeling expertise.
The candidate will model risks, collaborate with ALM and risk teams, leverage MoSes/AXIS/ALFA or similar software, and apply advanced analytics to support company risk management and financial
Qualifications
- Bachelor’s degree in a technical/quantitative discipline.
- Three years of modeling experience (or one with Master’s) and knowledge of at least one product such as insurance liability, asset valuation, derivatives modeling, liquidity management, machine learning, or artificial intelligence.
- Good understanding of investment and finance concepts, and the ability to creatively apply them in solving analytical problems.
Responsibilities
- Support modeling activities on various insurance liabilities, fixed-income assets and derivatives in actuarial systems, including AXIS/ALFA/MoSes.
- Model and quantify risks including equity and interest rate sensitivities, cash flow variability, credit, alternative investment, or liquidity risks.
- Collaborate with key stakeholders from business line valuation, ALM, risk management, and financial/risk reporting etc.
- Embrace new technologies to improve workflows.
- Build external or embedded controls to mitigate operating risks in workflows.
- Apply risk management techniques and procedures, including the company’s mandated risk methodologies.
- Gather and analyze market data, calculate hedge program or portfolio statistics and develop/use models to simulate financial reporting processes.
- Apply and integrate statistical, mathematical, predictive modeling and business analysis skills to manage and manipulate complex high volume data from a variety of sources.
- Interpret internal or external issues and recommend solutions/best practices.
- Solve complex problems; take a broad perspective to identify solutions.
- Build efficient models and processes with minimal guidance.
- Apply judgment to modeling choices in a defensible manner.
- Assess the materiality of various modeling and data choices
Skills
Education
Tools
Job description
Treasury, Capital Management and Asset Liability Management
At Transamerica, hard work, innovative thinking, and personal accountability are qualities we honor and reward. We understand the potential of leveraging the talents of a diverse workforce. We embrace an environment where employees enjoy a balance between their careers, families, communities, and personal interests.
Ultimately, we appreciate the uniqueness of a company where talented professionals work collaboratively in a positive environment — one focused on helping people look forward and plan for the best life possible while providing tools and solutions that make it easier to get there.
We believe everyone deserves to live their best life. More than a century ago, we were among the first financial services companies in America to serve everyday people from all walks of life.
Today, we’re part of an international holding company, with millions of customers and thousands of employees worldwide. Our insurance, retirement, and investment solutions help people make the most of what’s important to them.
We’re empowered by a vast agent network covering North America, with diversity to match. Together with our nonprofit research institute and foundation, we tune in, step up, and are a force for good — for our customers and the communities where we live, work, and play. United in our purpose, we help people create the financial freedom to live life on their terms.
Transamerica is organized into three distinct businesses. These include 1) World Financial Group, including Transamerica Financial Advisors, 2) Protection Solutions and Savings & Investments, comprised of life insurance, annuities, employee benefits, retirement plans, and Transamerica Investment Solutions, and 3) Financial Assets, which includes legacy blocks of long term care, universal life, and variable and fixed annuities. These are supported by Transamerica Corporate, which includes Finance, People and Places, General Counsel, Risk, Internal Audit, Strategy and Development, and Corporate Affairs, which covers Communications, Brand, and Government and Policy Affairs.
Transamerica employs nearly 7,000 people. It’s part of Aegon, an integrated, diversified, international financial services group serving approximately 23.9 million customers worldwide.* For more information, visit transamerica.com.
Build and analyze sophisticated models for insurance products, investments and/or portfolios to increase company risk adjusted returns. Leverage advanced knowledge of actuarial, financial, statistical, data science and/or balance sheet modeling analytics to develop, test and validate models for various functions within the company.
- Support modeling activities on various insurance liabilities, fixed-income assets and derivatives in actuarial systems, including AXIS/ALFA/MoSes.
- Model and quantify risks including equity and interest rate sensitivities, cash flow variability, credit, alternative investment, or liquidity risks.
- Collaborate with key stakeholders from business line valuation, ALM, risk management, and financial/risk reporting etc.
- Embrace new technologies to improve workflows
- Build external or embedded controls to mitigate operating risks in workflows
- Apply risk management techniques and procedures, including the company’s mandated risk methodologies.
- Gather and analyze market data, calculate hedge program or portfolio statistics and develop/use models to simulate financial reporting processes.
- Apply and integrate statistical, mathematical, predictive modeling and business analysis skills to manage and manipulate complex high volume data from a variety of sources.
- Interpret internal or external issues and recommend solutions/best practices.
- Solve complex problems; take a broad perspective to identify solutions.
- Build efficient models and processes with minimal guidance.
- Apply judgment to modeling choices in a defensible manner.
- Assess the materiality of various modeling and data choices
- Bachelor’s degree in a technical/quantitative discipline such as statistics, math, actuarial science, computer science, economics, engineering, or a related business field such as finance
- Three years of modeling experience (or one with Master’s degree) and knowledge of at least one product such as insurance liability, asset valuation, derivatives modeling, liquidity management, machine learning, or artificial intelligence
- Good understanding of investment and finance concepts, and the ability to creatively apply them in solving analytical problems
- Advanced degree
- Insurance or asset/derivatives modeling experience
- Actuarial Science backgroundExperience with database design and usage
- Programming experience in C++/C#/Python or other advanced language
- MoSes/AXIS/ALFA or other actuarial software
- QRM or similar asset liability software experience
- SAS, R, SPSS or other statistical software experience
- This is a hybrid position requiring three days (Tuesday-Thursday) in office per week in one of our hub locations (Cedar Rapids, Baltimore, Philadelphia, or Denver).
- Relocation assistance will not be provided for this position
The salary for this position generally ranges between$88,000 - $95,000 annually._Please note that the salary range is a good faith estimate for this position and actual starting pay is determined by several factors including_qualifications, experience, geography, work location designation (in-office, hybrid, remote) and operational needs. Salary may vary above and below the stated amounts, as permitted by applicable law.
Additionally, this position is typically eligible for an Annual Bonus of 10% based on the Company Bonus Plan/Individual Performance and is at the Company’s discretion.
*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. In the event an employee or applicant requests or requires an accommodation to perform job functions, the applicable HR Business Partner should be contacted to evaluate the accommodation request.
For eligible employees, we offer a comprehensive benefits package designed to support both the personal and financial well-being of our employees.
- 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
- Paid Time Off starting at 160 hours annually for employees in their first year of service.
- Ten (10) paid holidays per year (typically mirroring the New York Stock Exchange (NYSE) holidays).
- Be Well Company holistic wellness program, which includes Wellness Coaching and Reward Dollars
- Parental Leave – fifteen (15) 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
We believe our commitment to diversity and inclusion creates a work environment filled with exceptional individuals. We’re thrilled to have been recognized for our efforts through the Human Rights Campaign Corporate Equality Index, Dave Thomas Adoption Friendly Advocate, and several Seramount lists, including the Inclusion Index, 100 Best Companies for Working Parents, Best Companies for Dads, and Top 75 Companies for Executive Women.
We believe our responsibilities extend beyond our corporate walls. That’s why we created the Aegon Transamerica Foundation in 1994. Through a mix of financial grants and the volunteer efforts of our employees, the foundation supports nonprofit organizations focused on the things that matter most to our people in the communities where we live and work.
Aegon acquired the Transamerica business in 1999. Since its start in 1844, Aegon has grown into an international company serving more than 23.9 million people across the globe. It offers investment, protection, and retirement solutions, always with a clear purpose: Helping people live their best lives. As a leading global investor and employer, the company seeks to have a positive impact by addressing critical environmental and societal issues, with a focus on climate change and inclusion and diversity.
* As of December 31, 2023
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