Principal Actuarial Analyst - Profitability Management | Hybrid

Allianz Commercial; Minnesota; On-site; USD 69,000 - 138,000; Full time

Benefits offered by this job

Medical/Dental/Vision coverage

401(k) match

Paid time off

Tuition reimbursement

Job summary

Allianz Life is seeking an experienced actuary to research and prepare analyses for pricing and profitability of Indexed Universal Life, Fixed Indexed Annuity and Registered Index-Linked Annuity products. You will report to a credentialed actuary and develop pricing models for new and in-force business.

The role requires 4+ years in life insurance pricing, a 4-year degree in a related field and 5 SOA exams, with salary in the posted range and eligibility for incentives.

Qualifications

• 4+ years in life insurance pricing and profitability analysis.
• Experience with IUL, FIA or RILA pricing and rate setting.
• Knowledge of hedging costs and impact on margins.
• SOA exams completed: minimum five.

Responsibilities

• Develop and maintain pricing models for IUL, FIA and RILA.
• Perform rate setting analyses and determine cap/participation rates.
• Evaluate hedging costs and their impact on profitability.
• Communicate pricing results to business units and partners.
• Conduct actuarial research on indexed product pricing methodologies.

Skills

Pricing analytics

Rate setting

Profitability analysis

Indexed products experience

Education

Actuarial degree

5 SOA exams

Job description

At Allianz Life, we are driven by our mission - we secure your future - and by our common goal of caring for tomorrow. We care for our employees by promoting an inclusive culture where everyone has the opportunity to grow and be rewarded for their success. We care for our customers by creating new products that help them protect their families and pursue their retirement goals. We care for our community by giving time, resources, and donations. And we care for the future by supporting sustainability, protecting the local environment, and promoting equality in our communities.

What You Do

You will research and prepare actuarial analyses to support new business and in-force pricing, rate setting, and profitability management for Indexed Universal Life (IUL), Fixed Indexed Annuity (FIA), and Registered Index-Linked Annuity (RILA) products. You will report to a credentialed Actuary.

• Develops and maintains pricing models for new business and in-force business across IUL, FIA, and RILA product lines, ensuring assumptions reflect current experience and market conditions
• Performs rate setting analyses including credited rate strategies, cap/participation rate determination, spread targets, and index account option pricing
• Evaluates hedging costs and their impact on product profitability and pricing margins
• Supports completion of profitability-focused projects including:

• • New business pricing for IUL, FIA, and RILA product launches and enhancements
  • In-force pricing for IUL, FIA, and RILA products to reflect changes to experience factors
  • Profitability studies and margin analysis across indexed product lines
  • Pricing assumption development and experience studies (mortality, lapse/surrender, policyholder behavior, expenses, index performance)

• Assists in preparation of rate setting recommendations including:

• • Rates for new business
  • Rate change justifications, cap/spread adjustments, and supporting analyses

• Communicates actuarial pricing results and profitability insights to cross-functional areas including:

• • Business unit and distribution partners
  • Product development, hedging, and finance teams
  • Other actuaries

• Conducts actuarial research related to indexed product pricing methodologies, industry trends, and profitability drivers

• Utilization of artificial intelligence tools and resources (e.g. generative AI)

What You Bring:

• 4+ years of experience required in the life insurance and/or annuity industry with direct experience with:
  • Product pricing, rate setting, or profitability analysis
  • Indexed products (IUL, FIA, or RILA), developing or maintaining pricing models, setting credited rates or index parameters
  • Analyzing the relationship between hedging costs and product margins
• Four-year degree in Actuarial Science, Mathematics, Physics, Economics, Engineering, or related field required
• Completed a minimum 5 SOA Exams
• You must be legally authorized to work in the U.S. without requiring immigration sponsorship now or in the future. This includes holders of H-1B, H4, L-1, L-2, TN, OPT, CPT, and other nonimmigrant visas.

Job posting range $69,000 - $138,000

Note the job posting range is exclusive of company benefits or other compensation. This role is also eligible for an annual incentive program. If you are hired, your final base salary will be determined based on factors such as geographic location, experience, skills, competencies, and/or education. In addition to those factors, we will also consider internal equity of our current employees. Please keep in mind that the range provided is the full base salary range for the role. Hiring at or near the maximum of the range would not be typical to allow for future and continued salary growth.

What we offer:

At Allianz Life, we're proud to provide a benefits package that supports the True Balance of our employees and their families. We offer: a choice of comprehensive medical, dental and vision plan options, flexible spending and health savings accounts, tuition reimbursement, student loan retirement program, generous annual paid leave, an outstanding 401(k) company match, and life insurance. Plus, our employees enjoy an award-winning campus with an array of discounted amenities, including an onsite health center, child development center, fitness facility, convenience store and two cafeterias. Our employees and leaders take an active role in shaping our culture through our Employee Resource Groups, whose activities and advocacy contribute to an environment that is fair, caring, and inclusive. Our generous benefits, campus amenities and inclusive, engaged culture are among the many reasons we're routinely recognized as a top workplace employer. For additional information regarding What It's Like To Work Here | Allianz Life.

Allianz Group is one of the most trusted insurance and asset management companies in the world. Caring for our employees, their ambitions, dreams and challenges, is what makes us a unique employer. Together we can build an environment where everyone feels empowered and has the confidence to explore, to grow and to shape a better future for our customers and the world around us.

At Allianz, we stand for unity: we believe that a united world is a more prosperous world, and we are dedicated to consistently advocating for equal opportunities for all. And the foundation for this is our inclusive workplace, where people and performance both matter, and nurtures a culture grounded in integrity, fairness, inclusion and trust.

We therefore welcome applications regardless of ethnicity or cultural background, age, gender, nationality, religion, social class, disability or sexual orientation, or any other characteristics protected under applicable local laws and regulations.

Join us. Let's care for tomorrow.