Senior Actuary - Appointed Actuary Team

Transamerica; Baltimore (MD); Hybrid; USD 165,000 - 200,000; Full time

Benefits offered by this job

Pension Plan

401k Match

Tuition Reimbursement

Wellness programs

Job summary

Transamerica is seeking a Senior Actuary to report to the Director of Actuarial. The role focuses on capital adequacy, asset adequacy, and regulatory developments, including AG 53 and AG 55, with responsibility for evolving U.S. Statutory filings and C3P1 reporting.

The position is hybrid, requiring three days in the office per week at hub locations (Cedar Rapids, Baltimore, Philadelphia, Denver). Collaboration across Actuarial, Risk, ALM, Investments, and Tax is essential.

Qualifications

• FSA or ASA designation with required experience (8+ years) or ASA with 14+ years.
• Advanced communication of mathematical and analytical concepts to diverse audiences.
• Ability to work under pressure and meet tight deadlines.

Responsibilities

• Prepare Actuarial Guideline 53 (AG 53) and AG 55 regulatory filings and analyses.
• Own US RBC C-3 Phase 1 (RBC C3P1) quarterly production, controls and field testing.
• Support regulatory projects including PBR, cash flow testing (CFT), C3P1, C3P2 and related work.
• Coordinate field tests, industry surveys, and annual regulatory changes.
• Monitor actuarial developments and provide pricing, modeling, or reserving guidance.

Skills

Leadership

Communication

Prioritization

Under pressure

Education

FSA designation

Bachelor's in Actuarial Science / Math / Statistics

Master’s degree in actuarial science or related field

Job description

Job Family

Actuarial

About Us

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.

Who We Are

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.

What We Do

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.

Job Description Summary

The Senior Actuary will report to the Director, Actuarial and have significant exposure to the Appointed Actuary. The Senior Actuary will serve as a technical subject matter expert on capital, asset adequacy, and regulatory developments. The Senior Actuary will be responsible for C3P1 reporting and evolving U.S. Statutory regulatory filings, including Actuarial Guideline (AG) 53 and AG 55 covering complex assets and asset‑intensive reinsurance transactions.

Responsibilities

• Preparation of Actuarial Guideline 53 (AG 53) and Actuarial Guideline 55 (AG 55) regulatory filings and analysis
• Ownership of US Risk-Based Capital C-3 Phase 1 (RBC C3P1) quarterly production, controls, and field testing
• Support of actuarial regulatory projects including principle-based reserves (PBR), cash flow testing (CFT), C3P1, C3P2, and related
• Coordination of field tests, industry surveys, and annual regulatory changes
• Monitor developments in actuarial techniques, laws, and regulations applicable to company operations, and competitive developments in the marketplace
• Provide guidance and advice regarding pricing rates, modeling methodology, or reserving and related matters
• Support Pricing and Underwriting Risk Committee (PURC) special projects
• Role has high level exposure to all Transamerica product lines and functional areas
• Act as a trusted partner to Actuarial, Risk, ALM, Investments, and Tax

Qualifications

• FSA or equivalent professional designation along with Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Economics or related field, and 8 years of relevant experience. In lieu of Bachelor's, will accept Master’s in a listed discipline and 6 years or relevant experience. In lieu of FSA will accept ASA or equivalent professional designation and 14 years of relevant experience.
• Demonstrates high quality leadership, judgment, organization and prioritization skills.
• Effectively communicates, both verbally and in writing, advanced mathematical and analytical concepts to various audiences.
• Works well under pressure and within time constraints to effectively accomplish individual and team objectives.

Preferred Qualifications

• Proficient knowledge of Asset Adequacy Testing, C3P1, AG53, and AG55
• Proficient knowledge of asset liability management (ALM) concepts
• Familiarity with various General Account asset structures, modeling methodology, and assumptions
• Extensive experience in the insurance industry, knowledge of regulatory frameworks, and thorough understanding of financial markets.

Working Conditions

• Hybrid Office Environment

Compensation

• The Salary for this position generally ranges between$165,000 - $200,000 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 based on the Company Bonus Plan/Individual Performance and is at the Company’s discretion.

Applicants must possess legal authorization to work for our company in the U.S. without the need for immigration, sponsorship or otherwise serving as an employer of record for immigration employment purposes. At this time, this role is not eligible for immigration-related employment authorization sponsorship.

This is a hybrid position requiring three days in office per week in one of our hub locations (Cedar Rapids, Baltimore, Philadelphia, Denver). Relocation assistance will not be provided for this position.

What We Offer

For eligible employees, we offer a comprehensive benefits package designed to support both the personal and financial well-being of our employees.

Compensation Benefits

• Competitive Pay
• Bonus for Eligible Employees

Benefits Package

• Pension Plan
• 401k Match
• Employee Stock Purchase Plan
• Tuition Reimbursement
• Disability Insurance
• Medical Insurance
• Dental Insurance
• Vision Insurance
• Employee Discounts
• Career Training & Development Opportunities

Health and Work/Life Balance Benefits

• 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

Inclusion & Diversity

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.

To foster a culture of inclusivity throughout our workforce, workplace, and marketplace, Transamerica offers a wide range of diversity and inclusion programs. This includes our company-sponsored, employee-driven Employee Resource Groups (ERGs), which are formed around a shared interest or a common characteristic of diversity. ERGs are open to all employees. They provide a supportive environment to help us better appreciate our similarities and differences and understand how they benefit us all.

Giving Back

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.

Transamerica’s Parent Company

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