IUL Product Design & Pricing Actuary

Allianz Group

Minneapolis (MN)

On-site

USD 100,000 - 200,000

Full time

3 days ago

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Benefits offered by this job

Medical, dental, vision

401(k) with company match

Relocation assistance

Tuition reimbursement

Onsite health center

Job summary

Allianz Life is seeking a seasoned actuary to lead the development, pricing, and strategic direction of Indexed Universal Life products. You will act as an expert on IUL mechanics, index crediting, and actuarial modeling to keep products competitive and sustainable.

Reporting to a senior leader on the Product Development team, you will collaborate across Investments, Underwriting, Reinsurers, Product, Distribution, and Marketing to align design with customer needs and market opportunities.

Qualifications

8+ years actuarial experience in life product development, including IUL.
Four-year degree in actuarial science, mathematics, physics, economics, engineering or related field.
Fellowship in the Society of Actuaries (FSA).
Expertise with actuarial modeling platforms and pricing methodologies.
Ability to translate modeling insights into clear product strategy recommendations.
Experience applying SNFL, 7702 and AG 49 requirements in design, modeling and pricing.
Experience with underwriting program analysis and mortality trend assessment.
Ability to work independently and with cross-functional teams.

Responsibilities

Design and refine IUL products with index crediting strategies, cap/participation structures, riders, and survivorship variations.
Build, validate pricing models using advanced actuarial techniques.
Set and maintain assumptions for mortality, persistency, expenses, funding patterns, rider use, and index crediting performance.
Develop pricing strategies balancing regulatory expectations, risk management, and market needs.
Incorporate SNFL, 7702, and AG 49 into product and pricing models.
Conduct sensitivity testing, scenario modeling, and profitability analysis.
Collaborate with Investments to assess index strategies feasibility and hedging.
Collaborate with Underwriting and Reinsurers to assess practices impacts.
Monitor IUL market trends to guide product mix and innovation.
Partner with Product, Distribution, and Marketing to align designs with customer needs.
Mentor actuarial staff on modeling, pricing concepts; utilize AI tools.