Lead Universal Life Product Development Actuary

TEEMA; Minneapolis (MN); On-site; USD 190,000 - 215,000; Full time

Benefits offered by this job

Relocation support

401k match up to 7.5%

Onsite health center

Fitness facility

Child development center

Job summary

TEEMA in Minneapolis partners with a well-established life insurance carrier to hire a Product Development Actuary who will design and price universal life portfolios, expanding protection-oriented designs with steady crediting.

The role focuses on modeling, pricing, and compliance with SNFL, 7702, and AG 49, while mentoring actuarial staff and collaborating with Investments, Underwriting, and reinsurers to drive profitable product design.

Qualifications

• 10+ years of actuarial experience in life product development.
• Bachelor's in actuarial science or related field.
• Hands-on experience designing universal life products and pricing.

Responsibilities

• Design and refine universal life products, including pricing assumptions.
• Build, validate pricing models and mortality/expense assumptions.
• Coordinate with Investments, Underwriting, and reinsurers on product feasibility.
• Lead scenario testing, profitability analyses, and sensitivity studies.
• Mentor junior actuarial staff and support product strategy.
• Track IUL market trends and support cross-functional teams.

Skills

Actuarial modeling

Pricing methods

Product development

Mentoring

Education

Actuarial science degree

Tools

Actuarial software

Job description

TEEMA in Minneapolis partners with a well-established life insurance carrier to hire a Product Development Actuary who will design and price universal life portfolios, expanding protection-oriented designs with steady crediting.

The role focuses on modeling, pricing, and compliance with SNFL, 7702, and AG 49, while mentoring actuarial staff and collaborating with Investments, Underwriting, and reinsurers to drive profitable product design.